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Friday, January 9, 2009

European Leaders Call for New Capitalism

Economic quotes of the day:

Purely financial capitalism has perverted the logic of capitalism. Financial capitalism is a system of irresponsibility and... is amoral. It is a system where the logic of the market excuses everything. [1]

It's a system where wealth goes to the wealthy, where work is devalued, where production is devalued, where entrepreneurial spirit is devalued. [1]

In capitalism of the 21st century, there is room for the state. [2]

—French President Nicolas Sarkozy.

On the need to ground capitalism in "values other than the maximum short-term profit": "The greatest entrepreneur I had the chance to meet was passionate about what he had created, not what he had accumulated." [2]

—former British Prime Minister Tony Blair

[1] "French, German Leaders Call for 'Moralization' of Capitalism," Deutsche-Welle, 2009.01.08.
[2] Emma VanDore, "Sarkozy, Merkel, Blair Call for New Capitalism," AP via Yahoo News, 2009.01.08

1 comment:

  1. Who-ever'd-a thunk that Teddy Roosevelt would be reincarnated in France?


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