I would also just like to say I agree that US corporations should not receive tax subsidies for moving jobs overseas, and that’s a piece of legislation that I actually introduced when I was in the Congress.

The American capitalists are richer and stronger than their counterparts in other lands. They are also younger and more ignorant, and therefore more inclined to seek a rough settlement of difficulties without diplomatic subtlety and finesse. All that does not change the fact that American capitalism operates according to the same laws as the others, is confronted with the same fundamental problems, and is headed toward the same catastrophe.

Capitalism should not be condemned, since we haven’t had capitalism. A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank. It’s not capitalism when the system is plagued with incomprehensible rules regarding mergers, acquisitions, and stock sales, along with wage controls, price controls, protectionism, corporate subsidies, international management of trade, complex and punishing corporate taxes, privileged government contracts to the military-industrial complex, and a foreign policy controlled by corporate interests and overseas investments. Add to this centralized federal mismanagement of farming, education, medicine, insurance, banking and welfare. This is not capitalism!

I know some people look at foreign companies investing in our businesses, financing our infrastructure or taking over our football clubs and ask – shouldn’t we do something to stop it? Well, let me tell you, the answer is “no.”

Throughout the years in which the US was punishing countries that departed from fiscal prudence, it was borrowing on a colossal scale to finance tax cuts and fund its over-stretched military commitments. Now, with federal finances critically dependent on continuing large inflows of foreign capital, it will be the countries that spurned the American model of capitalism that will shape America's economic future.

I don’t want a Disneyfication of our history. I don’t want to whitewash history. I don’t want to homogenize history. Tell me the wretched truth about America, because that speaks to our greatness.

But the problem for the is that their general premise can be used as the basis for an equally good argument against capitalism, an argument that the so-called losers of economic transition in eastern Europe would be quick to affirm. The US, a country based on a free-market capitalist ideology, has done many horrible things: the , the , the brutal military actions taken to , just to name a few. The British Empire likewise had a great deal of blood on its hands: we might merely mention the and the . This is not mere ‘’, because the same intermediate premise necessary to make their anti-communist argument now works against capitalism: Historical point: the US and the UK were based on a capitalist ideology, and did many horrible things. General premise: if any country based on a particular ideology did many horrible things, then that ideology should be rejected. Political conclusion: capitalism should be rejected.

I understand that you have an economic system in America known as Capitalism. Through this economic system you have been able to do wonders. You have become the richest nation in the world, and you have built up the greatest system of production that history has ever known. All of this is marvelous, but Americans, there is the danger that you will misuse your Capitalism. I still contend that money can be the root of all evil. It can cause one to live a life of gross materialism. I am afraid that many among you are more concerned about making a living than making a life. You are prone to judge the success of your profession by the index of your salary and the size of the wheel base on your automobile, rather than the quality of your service to humanity. The misuse of Capitalism can also lead to tragic exploitation. This has so often happened in your nation. They tell me that one tenth of one percent of the population controls more than forty percent of the wealth. Oh America, how often have you taken necessities from the masses to give luxuries to the classes. If you are to be a truly Christian nation you must solve this problem. You cannot solve the problem by turning to communism, for communism is based on an ethical relativism and a metaphysical materialism that no Christian can accept. You can work within the framework of democracy to bring about a better distribution of wealth. You can use your powerful economic resources to wipe poverty from the face of the earth. God never intended for one group of people to live in superfluous inordinate wealth, while others live in abject deadening poverty. God intends for all of his children to have the basic necessities of life, and He has left in this universe "enough and to spare" for that purpose. So I call upon you to bridge the gulf between abject poverty and superfluous wealth.

When I see the present Socialist Government denouncing capitalism in all its forms, mocking with derision and contempt the tremendous free enterprise capitalist system on which the mighty production of the United States is founded, I cannot help feeling that as a nation we are not acting honourably or even honestly.

I'm a proud capitalist. I spent most of my career representing the corporate state of Delaware. I know America can't succeed unless American business succeeds. But let me be very clear: Capitalism without competition isn't capitalism; it's exploitation.

I have therefore, come to the immoveable conclusion, that they (Americans) have, and do continue to punish us for nothing else, but for enriching them and their country.

Is this money that is really helping the American people, or is it helping companies? Because when we become a, you know, kind of company- and corporation-driven government, from having our military and having our education system—even now our healthcare system is so much towards leaning towards very corporate-like and very for-profit—I think that’s when the danger comes in. That’s when we know those people are not for us, they’re for the greed that comes with trying to privatize our whole military industry.

There are significant differences between the American and European version of capitalism. The American traditiionally emphasizes the need for limited government, light regulations, low taxes and maximum labour-market flexibility. Its success has been shown above all in the ability to create new jobs, in which it is consistently more successful than Europe.

I just hope that it would not go the way of other independent black nations, which had allowed their resources to plundered by large foreign multinational companies and leaders hungry for wealth and power.