Killing Capitalism Soros-Style

by Matthew Vadum
The American Spectator

Having purchased, rented, or placed a down payment on all the political influence up for sale in America, leftist troublemaker George Soros now plans to ramp up his war on markets worldwide by creating an “Institute for New Economic Thinking” (INET).

“The system we have now has actually broken down, only we haven’t quite recognized it and so you need to create a new one and this is the time to do it,” Soros told the Financial Times last month.

In an interview with Der Spiegel last year Soros said European-style socialism “is exactly what we need now. I am against market fundamentalism. I think this propaganda that government involvement is always bad has been very successful — but also very harmful to our society.”

As preparation for INET, which already has a functioning website, Soros gathered economists to plot his renewed drive for world statism. One of those economists is Joseph Stiglitz, a member of the Socialist International. Stiglitz sits on SI’s Commission on Global Financial Issues, which was created “to address from a social democratic perspective the ongoing global financial crisis.” Of course to socialists a capitalist economy is by definition always in crisis, but that’s a discussion for another day.

INET’s website quotes socialist Stiglitz saying, “The financial crisis has caused a moment of deep reflection in the economics profession, for it has put many long-standing ideas to the test. If science is defined by its ability to forecast the future, the failure of much of the economics profession to see the crisis coming should be a cause of great concern.”

INET is scheduled to be launched at England’s Cambridge University in April. The owner of America’s Democratic Party, who spent over $20 million to prevent President Bush’s reelection in 2004, plans to shell out $50 million for INET over a decade and hopes matching funds will push the total endowment to $200 million.

Liberal writer Ezra Klein notes, “That’s a lot of money. It’s so much money, in fact, that it’s hard to imagine how an economics think tank will use it.”

Why Soros feels he’s not having enough impact on the world is unclear.

Soros helped finance the Czech Republic’s 1989 “Velvet Revolution” that brought Vaclav Havel to power. He acknowledged having orchestrated coups in Croatia, Georgia, Slovakia, and Yugoslavia. He brought the financial systems of the United Kingdom and Malaysia to their knees.

In the U.S., his preferred candidate now lives in the White House, the radical party he adores controls Congress, and interest groups and the bulk of the progressive political infrastructure kneel at his feet.
Through his charity, the Open Society Institute, Soros funds groups such as ACORN that are among the most influential in America.

The article continues at The American Spectator.

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