Obama: Capitalism or Socialism… “Just Choose Whatever Works”


Speaking to young leaders in Argentina last week, he referred to capitalist as “Yankee dog.”

If these students were hoping for profound wisdom and inspiration, they may have been disappointed.  

A portion of his remarks:  “I guess to make a broader point, so often in the past there’s been a sharp division between left and right, between capitalist and communist or socialist. And especially in the Americas, that’s been a big debate, right? Oh, you know, you’re a capitalist Yankee dog, and oh, you know, you’re some crazy communist that’s going to take away everybody’s property. And I mean, those are interesting intellectual arguments, but I think for your generation, you should be practical and just choose from what works. You don’t have to worry about whether it neatly fits into socialist theory or capitalist theory — you should just decide what works.“

“And it’s up to you — whether you’re in business or in academia or the nonprofit sector, whatever you’re doing — to create new forms that are adapted to the new conditions that we live in today.”



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