Controversial author, entrepreneur and media magnate, ex-Canadian Conrad Black appeared at Western this past Sunday to discuss the current state and importance of capitalism in the modern world.
The Social Science Students’ Council (SSSC) held its academic conference, ‘Capitalism in Today’s Society,’ which brought together all 11 departments within the faculty.
While Saturday’s talks by professors Maude Barlow, Anton Allahar and Jean-Philipe Vergne, focused on the negative impacts of capitalism in society, Black’s keynote address touched on downsides but also affirmed his belief that capitalism is still the ideal economic system for any society.
“[Capitalism] is indeed, I suggest to you, the best economic system because it is the only one that conforms to the practically universal human desire for more,” Black said.
He went on to say not recognizing this notion is the ultimate failing of left wing thinkers, who want to ‘share,’ in as much as it means confiscating the property and wealth of others. People, Black said, are largely opposed to having what is theirs taken away and, because of that, it is necessary for us, as a society, to implement new policies and strategies to give the wealthy a legitimate reason to work towards the abolishment of poverty.
Black listed a number of strategies that Canada could implement in order to strengthen its economic position.
One of his main points was with the establishment of a wealth tax that would be self-eliminating as the percentage of people living in poverty decreased.
Essentially, he suggested, those worth more than $5 million would be required to pay a 1 per cent tax towards alleviating poverty, but not to the government. The money would go to social assistance systems designed by those paying the tax themselves. In this way, Black said, we provide an incentive for the wealthy to help those less fortunate.
He suggested Canada should establish private sector health care in order to alleviate pressure on the public sector, and to provide incentives for doctors to stay and work in Canada, reducing taxes on essential spending, like groceries and clothing, while increasing taxes on elective spending on luxury items.
While Black’s presentation received resounding applause, the event was not without controversy.
One panellist dropped out of the conference in protest of Black’s position as keynote speaker, due to his criminal convictions, while a small number of protestors stood outside the event.
Black said he had not intended to discuss his legal issues, as they had no real bearing on the subject he had been asked to address. In light of the situation, however, he took a moment to defend himself.
“I gather that I’m being boycotted by a couple of people on grounds of my alleged moral turpitude, as demonstrated by the workings of the American legal system, Black said.
“No sane person acquainted with the case could possibly imagine that I broke any laws, and I didn’t – I wouldn’t dream of such a thing. There wouldn’t have been any charges … in any civilized nation outside the U.S. So the people who boycotted me, for that reason, have made a mistake.”