Mayor Pete: 'Capitalism Has Let a Lot of People Down' | NTK Network Mayor Pete: ‘Capitalism Has Let a Lot of People Down’

Mayor Pete: ‘Capitalism Has Let a Lot of People Down’

"Well, I think the reason we're having this argument over socialism and capitalism is that capitalism has let a lot of people down..."

By NTK Staff | 04.16.2019 @1:51pm

South Bend Mayor Pete Buttigieg (D-IN) claimed that “capitalism has let a lot of people down” during an interview on CNN’s “New Day” on Tuesday.

CNN’s Poppy Harlow asked Buttigieg whether he thought that his fellow Democratic presidential hopefuls have “vilified” capitalism in a way that is dangerous.

Harlow pointed out that more Democrats view socialism favorably than capitalism.

“Well, I think the reason we’re having this argument over socialism and capitalism is that capitalism has let a lot of people down,” Buttigieg said. “I guess what I’m out there to say is that it doesn’t have to be so. I believe in Democratic capitalism. But the Democratic part is extremely important.”

“I think during this Cold War, there was this assumption that capitalism and democracy were almost the same thing. That if you were for capitalism, you were also for democracy,” Buttigieg added.

“Right now, we see democracy and capitalism coming into tension. It was very alarming to hear recently that one of the president’s economic advisers said that between capitalism and democracy, he would choose capitalism,” Buttigieg said. “I would say the reverse ought to be true, that, at the end of the day, we prioritize democracy. And, you know, having that framework of a rule of law, of fairness, is actually what it takes for markets to work.”

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