Former President Barack Obama offered a dire warning of market-based economic systems at a huge reunion celebrating 15 years since he won the presidency.
Obama was in Chicago on Friday for the Obama Foundation’s Democracy Forum, where he delivered a speech. His foundation later posted a clip on X, formerly known as Twitter.
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“But just because an economic system generated wealth and innovation doesn’t mean it guarantees a good society,” Obama said. “Because from the outset, market-based systems have been compatible with slavery, caste systems, colonialization, war, exploration, corruption, fraud, autocracy, the poisoning of our natural environment.”
As Obama listed, the audience applauded. The former president went on to credit Democratic governments for “moderating capitalism’s excesses” with a …