According to President Obama, there’s no great difference between capitalism and communism, and nations should feel free to “choose from what works.”
The president’s astonishing statement came in response to a question in Buenos Aires about private versus public sources of funding for nonprofit community organizations. In response, Obama waxed eloquent trying to trivialized differences between socialism and capitalism:
So often in the past there has been a division between left and right, between capitalists and communists or socialists, and especially in the Americas, that’s been a big debate…. 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.