From the moment we accepted the idea that the market was always right and that no other opposing factors need be taken into account, globalization skidded out of control
He criticized extreme de-regulating of the large businesses that greatly influence the economy, not capitalism in practice. In practice capitalism requires some regulation, while pure capitalism would constitute no government interference.
Capitalism needs criticizing, as does everything. Honestly, you can't say that capitalism works 100%, because it doesn't. Capitalism helps some while ruining others. Its just a simple fact.
Mhh...Is this discussion about capitalism or about the French?
What Nicolas Sarkozy criticises here is not the principle behind capitalism, but rather the unacceptable behaviour that the markets showed after layers upon layers of deregulation. Full quote from the Daily telegraph is here:
Mr Lee followed Mr Sarkozy who said globalisation had "skidded out of control" and lashed out at the "indecent" pay in the finance industry.
"President Obama is right when he says that banks must be dissuaded from engaging in proprietary speculation or financing speculative funds," Mr Sarkozy said on Wednesday night.
"From the moment we accepted the idea that the market was always right, and that no other opposing factors need be taken into account, globalisation skidded out of control."
Mr Sarkozy said: "There is indecent behaviour that will no longer be tolerated by public opinion in any country in the world.
"There are excessive profits that will no longer be accepted because they are without common measure to the capacity to create wealth and jobs.
"There are remuneration packages that will no longer be tolerated because they bear no relationship to merit."
Mr Sarkozy said it was "morally indefensible" for people who destroy jobs and wealth to earn a lot of money.
He does not, in any way, question capitalism in itself but rather the chaos that followed market deregulations.
Now, on the question of the French: 1. We do not have "riots" because of the taxes we have to pay. 2. Sarkozy's father is indeed not French but Hungarian, but we could have the same sort of comment on Barack Hussein Obama after all... 3. French bread is great
May I ask what this has to do with our present topic? Or are you trying to tell me that a monument offered in 1886 by the French to the American is somehow related to Pdt. Sarkozy's recent discourse? ^^
May I ask what this has to do with our present topic? Or are you trying to tell me that a monument offered in 1886 by the French to the American is somehow related to Pdt. Sarkozy's recent discourse? ^^
It was more of a response to Ernie15. Quoting him would have made more sense, but I thought it wouldn't be as funny.
It didn't. I was just pointing out that Ernie is ignorant as hell. If you're going to hate on a nation, than use real reasons instead of making stuff up on the top of your head. It just makes you look ignorant.
