Capitalist country.

Communism, capitalism...

Do not forget that fascism, communism, capitalism or other isms are all monetary systems.

This february 10th to the 15th, all roads lead to Vancouver.

You know, the alternative, communism, has not worked.

let me just draw you a spectrum here.

They ended capitalism and built a socialist society.

Here, I interviewed people who were residents of formerly communist countries, who had all faced the challenge of transitioning to a more democratic and capitalistic society.

So, this is really a pretty strong statement.

(Laugther)

It's a 40 year old company, it understands manufacturing.

Nothing like the resources of a CERN or a DARPA or an IBM or a Dupont.

Now, I think this future will be quite surprising to many people.

Capitalism is the exploitation of man by man. Communism is the exact opposite.

That's part of the free market system, Obama continued.

But the majority of the world neither benefits from capitalism nor from democratic systems.

China, I believe, still has some of the excellent raw fundamentals mostly the social capital, the public health, the sense of egalitarianism that you don't find in India.

People can do a whole PhD thesis on this type of thing.

What is that?

All for ourselves and nothing for other people.

We are this great brand in the banking industry, wouldn't you

liabilities plus equity.

We were naturally deferential. We needed hierarchy.

I've been a huge fan of enterprise and entrepreneurship since 1993.

In a world without leverage so if I didn't have all this

less capital intensive that there's less money that's required

That is not right!

It has been reported that 32 trillion of paper assets were printed by one government alone.

And when I picture how Democrats and Democratic leaning economists picture this economy, most Democratic economists are, you know, they're capitalists, they believe, yes, that's a good system a lot of the time.

(Laughter)

Why doesn't somebody do it? And the answer is,

And what is even more shocking is that this system has followed, step by step, the evolution of our own system, of our Western capitalism.

I use 100 gold pieces.

like an equation, but it's assets is equal to liabilities plus equity.

So, we believe that values driven spending will force capitalism to be better.

Piracy is not a random act.

So this is not about standing in the way of development.

Now, commerce is ancient. Markets are as old as the crossroads.

The question now, however, is both about which form of capitalism and which type of democratic participation.

And in the end, there's better bargaining between the authorities and citizens, and democracies, capitalism everything else flourished.

The funny thing is, every time capitalism expands into new territories, state monopolies are used to define the rules and gain control.

liabilities.

(Audience) HE OU. (Sid) Perfect.

Then monarchy had seen off its big challenger, mass democracy, which was seen as a well intentioned but doomed experiment, just as capitalism has seen off socialism.

So 5 million of liabilities.