Lariat Reporter: Sawyer Smith
Steve Forbes, the CEO of Forbes Media, gave advice about Capitalism to students and the public in Dallas on Tuesday evening at Southern Methodist University.
The event was sponsored by Young America’s Foundation and carried out by their on-campus student chapter affiliate, Young Americans for Freedom (YAF). The SMU YAF chapter advocates conservative values and principles at their school. With the help of the foundation, student leaders chose Forbes to address “the Superiority of Capitalism” as an economic model.
“Free-markets are moral and big government is not,” Forbes said. “On one side there is great philanthropy, and on the other, commerce.”
The publishing giant, who is known for his policy focus toward business and economics, based his presentation on the belief that true free markets only provide something another person wants. And that voluntary exchange, as found within the capitalistic system, meets the needs and wants of other people. “It encourages cooperation and creates supply chains. You may not love your neighbor, but you certainly want to sell to them,” said Forbes.
Forbes is remembered in recent political history for his two campaigns for the U.S. presidency in 1996 and 2000. Seeking the Republican nomination both times, Forbes’ platform was built on conservative fiscal policy and monetary reform. He has advocated for the flat tax and free enterprise solutions in healthcare.
Tuesday night, he laid out three policy changes that he said must be achieved to reboot and save the American economy. Those were to repeal Obamacare, stabilize the dollar and address the role of the Federal Reserve, and drastically cut taxes.
Forbes, who regularly speaks on behalf of Young America’s Foundation, was hosted by SMU YAF founding chairman, sophomore Grant Wolf.
“Seeing that sentiments amongst young people are often unfavorable toward capitalism, we feel that now more than ever is an important time to bring someone here to explain it properly and answer tough questions. Who better than Steve Forbes?” Wolf said.
At least a few hundred attended the speech and the audience was split between students and other guests. Nicole Hoplin, who is the Vice President for Young America’s Foundation, traveled from the Northern Virginia headquarters to be present. She focuses on development for YAF to help fund the promotion of conservative ideology at colleges and universities around the country.
“Investing to teach conservatism to young people pays great dividends to future generations for freedom,” Hoplin said.
The SMU YAF chapter plans to bring more speakers to the school in the future, Wolf said.
“There’s been lots of discussion and debate here about racial tensions, and too, relations with Israel,” Wolf said, “but tonight was a great opportunity to focus on the morality and successes of capitalism.”
The Editor-in-Chief of Forbes Magazine concluded his lecture with a Q & A session. He left the crowd with thoughts for considering that markets are like people. “Are free-markets perfect? No, because they’re man made. But, if allowed to operate, they always turn scarcity into abundance and luxuries into commodities. The glory of the marketplace is that if you don’t serve and produce adequately, you will fail.”