Niall Ferguson: Chinese More Committed to Capitalism

October 22, 2010 -- In a panel about getting America back from the depths of economic despair at The Daily Beast's Innovators Summit in New Orleans, Niall Ferguson, historian and Harvard Business School professor, told Sir Harold Evans that, "The Chinese are more committed to capitalism than we are."

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News & Politics

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• The Daily Beast
• Niall Ferguson
• Economics
• Harvard
• China
• United States
• discussion politics

[metameros]

@1thruZ i`m chinese and i dont think china is committed to captalism, it`s more of pragmaticism. and the chinese gov doesnt do all the spending by the way, the private sector has occupied at least 70 percent of china`s GDP.

[1thruZ]

I don't get how China is more committed to capitalism. Their gov't does all the spending.

[Reido2828]

Ferguson is one of the few economists who speaks the truth. Unfortunately arrogant western politicians are not listening to him. We need a revolution

[jccusell]

China;s increase as more to do with the deturgent from Western COuntries from their priciples of freedom and a true free market, than with China itself

[bcfsl]

...of course, BHO is so incredibly smart and talented the only thing he'd done before guilty white liberal US voters gave him a mulligan into the WH, was to write a book about how great he is.

[stone34]

@overcastingasshole- Shes a carnival barker & Could NEVER Win the General Election. Shes dispised by about 60-70% of Americans. Sure she got rich, has her little following that makes noice but could NEVER win. She has ZERO credibility, is caught lying or butchering facts / history everytime she speaks. Oddly that makes her more popular with her SMALL group of ignorant fanatics.

She has a lil power in getting her group to back another Repub in the primary but thats it.

Damon was RIGHT!

[stone34]

@overcastingasshole- As an American I agree with you about palin. There are NOT enough negative words in the English Language to describe her. But I will use just one... INSIGNIFICANT. She really is that.

Your giving her too much credit to say she's a front runner. She's NOT. She will NEVER run because she will have to take on Negative attacks from other Repubs. She will have to do interviews & be accountable for her LACK of KNOWLEDGE & Stupidity. She'll NEVER subject herself to that TRUTH

[overcastingasshole]

"where we naturally belong"........China's embrace of market ideology does not equal its embrace of Western free market ideology but more so of pragmatism separating truth from facts in how theory operates in reality. Also, Chinese culture for a few millennia have had a strong cultural sense of its commerce, trade etc. etc. why else are Chinese businesses all over the world on average quite successful. Also for the past 20 centuries, China has been on top economically for at least 15 of them!

[overcastingasshole]

@stone34 Something that is extremely unfortunate for the American people I must say. Sigh and zz at Sarah Palin. From the viewpoint of a New Zealander, how the fuck did that joke ever become the running mate of the Republican's frontrunner for President. Matt Damon was fully right on this point.

[overcastingasshole]

@saugeen3000 democracies yes, just different manifestations of democracies which the current form that USA has (which I personally would argue is plutonic and not democratic AT ALL) cannot. I would also argue that culture overrides political systems and it forms the basis of how political arenas of different countries operate. Had China been put through Western democracy, it would've messed up