Author: socialism is is kinder than capitalism

Over 50 University members gathered Thursday to hear renowned author and lecturer Michael Novak defend the capitalist system. Novak, who currently works with the American Enterprise Institute in Washington D.C., said that while capitalism was anti-utopian, it was kinder to the poor than socialism. Novak said that socialism was essentially a system of the past. "Around the world, the buttons of socialist parties are dropping like leaves in the wind," he said. He gave a brief history of Christianity in relationship to the business world. Historically, the two were at odds until Max Weber conceived the notion of the Protestant work ethic, he said. Novak, who has taught at Harvard and Stanford universities, said that the condemnation of trade found in Christianity had its basis in the idea of a zero-sum world in which one cannot profit without another's loss. He cited the creation of the McDonald's fast-food chain as a proof that this is not so. Novak said that as people provide new services, the opportunity for profit will continue to grow. Novak explained that the two ideals necessary to succeed in business are the promotion of creativity and community. He said that creativity included the continued improvisation of new services -- the "surprise of inducing something new." He said community is an unavoidable and necessary ideal to achieve. He used the University as an example, saying that within it one must work with and for others. The speech was followed by a panel discussion. Wharton Senior Fellow of Business Ethics Robert Holland served as the moderator. The panelists consisted of Temple University Religion Professor Patrick Burke, American Jewish Committee Director Murray Friedman and Vice Provost for Graduate Education Janice Madden.

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