It’s unfortunate that President Obama is such a well spoken and clear-thinking African American politician AND that many (not all — many) people do not think critically about what they read.
The Economist is an organization run and owned by strong proponents of Capitalism, including the largest banks in the world. President Obama is the US’s figurehead for that economic framwork. It should be no surprise then that Obama (or someone on his staff) would produce such a document, when more and more people are looking for alternatives to the velvet handcuffs Capitalism represents. The people may have some scary and bone-headed ideas, but that doesn’t mean the process of looking for alternatives to Capitalism is a fool’s errand.
Yes, Capitalism has done great for humanity, but it has simultaneously been horrible for humanity and the planet. At what cost in net terms have we realized all this prosperity? What good is that prosperity if the carrying capacity of the planet (the environment) is irreparably damaged by this system’s activity?
There is no longer any reason (for example) why all the basic necessities of every single human can’t be provided to them at no cost at all. That is: basic but nutritious and declicioius food, serviceable clothing that provides dignity and protection from the elements, adequate shelter that rivals today’s luxury dwellings, all the education one wants and all the basic healthcare a human needs. We have today (and we’ve had for decades) the ability to provide every person with these without requiring them to spend most of their lives working jobs they don’t like in order to afford these things. Nn interesting proposal is beginning to be talked about around the world that may be able to make this possible.
I agree with globalism, free enterprise and the aspirations Capitalism claims to strive for. But I do not believe Capitalism is the best way to achieve those aspirations. We can do better. We must. We will.