Can George Soros Save Capitalism?August 12, 2017 - Author: steph
Billionaire philanthropist George Soros is still fighting the good fight. He has long been a supporter of Democratic politicians and progressive movements. In the last presidential election, Soros pledged over $26 million to Super PACs that supported Hillary Clinton.
Although Clinton failed to win the presidency, Soros has continued to support causes and organizations that his Open Societies Foundation believe in.
While the presidency of Donald Trump is seen as an existential threat by many leaders around the world, Soros himself has famously said the Trump was “doing the work of ISIS” by coming up with increasingly harsh policies against Muslims, he also sees capitalism as a threat as well. Read more about George’s life story at biography.com
In an opinion piece published in The Atlantic, Soros states that capitalism, as it is being practiced today, is endangering our democratic and open society.
It is not that Soros dislikes capitalism, in fact, he is probably one of the greatest capitalists who ever lived. As a hedge fund manager, he has amassed a fortune estimated at over $25 billion.
Soros’s argument for the threat of capitalism is in the way it has been implemented in the West over the last few decades. Capitalism has become more of an authoritarian type of system, much like communism and Naziism were in the past.
These ideologies, like capitalism now, claimed to have held the ultimate truth but could only use force to control society and impinge on the rights of individual citizens.
In almost every newscast or newspaper, you can see instances where companies and governments have trampled on the rights of individuals in order to benefit the bottom line of businesses. There is always that argument that the “free market” is much more efficient than governments and that capitalism will solve every problem.
As Soros points out, this laissez-faire form of capitalism, where businesses can do whatever they want, is dangerous. It is dangerous for the people, for the planet, and for future generations.
George Soros is not trying to do away with capitalism. He just wants it to be a more a more democratic and open system.
To date, George Soros has given away more than $12 billion of his fortune to help organizations and individuals who are striving to spread freedom and democracy around the world. These contributions are made through his Open Societies Foundation.
If anyone can save capitalism it is a person like Soros. As someone who has benefited from it, he can steer it in the right direction. Follow George on twitter.com.