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2012/03/15

Who won the "Who does Capitalism Better? USA or China" Slate/Intelligence Squared debate, and how

-Really good debate... please watch it!  Posted here.

About three-fourths of the way through Tuesday’s Slate/Intelligence Squared Oxford-styledebate on whether China does capitalism better than America, one audience member stood up to request a clarification of terms. How, she asked the panelists on stage, do you define capitalism?

She struck a nerve. People throughout the auditorium sat up a little straighter. Debater Peter Schiff took the question, hesitantly outlining a system that sounded alien to realities either here or China. “Where the means of production are controlled completely privately. Where the factors of production, land, labor and capital are allocated through a market. Where prices for all goods and services, wages and interest rates are set by the market,” he said. American capitalism triumphs over Chinese capitalism at the March 13 Slate/Intelligence Squared debate - Slate Magazine:


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