Dr Jeff Cornwall

Writing this blog has truly been a gift.  It has introduced me to amazing people and opened up all kinds of fascinating conversations. 

I just got done with one of those moments.

As a member of the Forbes blogging network I was invited to submit a question for a conference call with Steve Forbes.  The conference call was around his new book, How Capitalism Will Save Us.  To  my delight, my question was the first one they asked him.  Here is the essence of what I asked:

In your book How Capitalism Will Save Us you argue that capitalism is a moral system. 

A free market and a free society are necessary, but not sufficient, to create a moral society.  I am concerned that we might abdicate our responsibility as individual actors within that system if we are not careful.  We cannot simply say capitalism is moral and therefore gives me cover to act in immoral ways. 

Wouldn’t it be better to say that capitalism is the best system that allows moral men and women to freely act in a moral way and the most transparent system to let us all know when they do not?

Forbes replied that he believes that “capitalism is a moral system, but one that must be informed by values, the rule of law, and faith in the future.”  If the participants in the free market system “do not act morally, the system will break down.”

Then the cool stuff started.  It was not just a “sit on the phone and listen” teleconference — it was truly interactive.  He answered two more submitted questions, but each time we entered into a dialogue and were able to follow-up.

His views on current policy out of Washington were predictably negative.  But he has a relatively positive outlook for the future.

Forbes said that if Washington does not get economic policy right very soon, you will begin to see political ramification that will lead to fundamental changes in economic policy.  He attributes this to technology.  Communication happens so fast that discontent spreads much more quickly than in the past.  He cited the rapid grassroots spread of the Tea Parties.

“The world has changed,” he said.

To which I said, “Indeed, we have a magazine publisher talking on the phone with a bunch of bloggers.”

His reply:  “Who knows.  I may be working for one of you someday soon.”