The Soros Plan To Kill Capitalism by Matthew Vadum 5 Nov 2009 post a comment Share This: Having purchased, rented, or placed a down payment on all the political influence up for sale in America, leftist troublemaker George Soros now plans to ramp up his war on markets worldwide by creating an "Institute for New Economic Thinking" (INET). "The system we have now has actually broken down, only we haven't quite recognized it and so you need to create a new one and this is the time to do it," Soros told the Financial Times last month. Soros said he wants Communist China to run this new financial system. "You really need to bring China into the creation of a new world order, a financial world order," Soros said. If that doesn't send a chill down the spines of freedom lovers in America and elsewhere, nothing will. In an interview with Der Spiegel last year Soros said European-style socialism "is exactly what we need now. I am against market fundamentalism. I think this propaganda that government involvement is always bad has been very successful -- but also very harmful to our society." As preparation for INET, which already has a functioning website, Soros gathered economists to plot his renewed drive for world statism. One of those economists is Joseph Stiglitz, a member of the Socialist International. Stiglitz sits on SI's Commission on Global Financial Issues, which was created "to address from a social democratic perspective the ongoing global financial crisis." Of course to socialists a capitalist economy is by definition always in crisis, but that's a discussion for another day. INET's website quotes socialist Stiglitz saying, "The financial crisis has caused a moment of deep reflection in the economics profession, for it has put many long-standing ideas to the test. If science is defined by its ability to forecast the future, the failure of much of the economics profession to see the crisis coming should be a cause of great concern." Soros, the de facto owner of America's Democratic Party who spent over $20 million to prevent President Bush's reelection in 2004, plans to shell out $50 million for INET over a decade and hopes matching funds will bring in another $150 million. Why Soros feels he's not having enough impact on the world is unclear. Soros helped finance the Czech Republic's 1989 "Velvet Revolution" that brought Vaclav Havel to power. He acknowledged having orchestrated coups in Croatia, Georgia, Slovakia, and Yugoslavia. He brought the financial systems of the United Kingdom and Malaysia to their knees. In the U.S., his preferred candidate now lives in the White House, the radical party he adores controls Congress, and interest groups and the bulk of the progressive political infrastructure kneel at his feet. Through his charity, the Open Society Institute, Soros funds groups such as ACORN that are among the most influential in America. Newsweek's Michael Hirsh channels Soros in describing the purpose of INET. The new institute, Hirsh writes, will "make research grants, convene symposiums, and establish a journal, all in an effort to take back the economics profession from the champions of free-market zealotry who have dominated it for decades, and to correct the failures of decades of market deregulation." Of course free market enthusiasts do not dominate the field of economics, as Donald J. Boudreaux, chairman of the economics department at George Mason University points out, but why should Soros let a few inconvenient facts get in the way of his grand project. Only in the twisted fantasies of the septuagenarian billionaire philanthropist whose demeanor is that of an aging James Bond villain on sedatives could such phantom armies of marauding free market fundamentalists wreak havoc on America. Perhaps these were the same laissez-faire legionnaires who brought us Sarbanes-Oxley, Fannie Mae and Freddie Mac, various government bailouts of private industry, farm subsidies, ethanol mandates, smart growth, and the Community Reinvestment Act in recent decades. Read the full article at the American Spectator.