Gary Gray

Stephen A. Smith DROPS the “Socialist” Question on Abdul El-Sayed — The Candidate Turns the Tables on Billionaires and Corporate Greed Stephen A. Smith: Forgive the obvious question, but are you a socialist? Dr. Abdul El-Sayed: I’m not. I’m a capitalist who understands capitalism. Adam Smith, who coined the term capitalism, said there is no market without morals. He also said the biggest danger to capitalism wasn’t government regulation, but monopoly. Think about it. Your phone is probably made by one of two manufacturers. You have one of three major carriers. If you fly to another state, you’re probably using one of three airlines and one of two aircraft manufacturers. We have monopolies and oligopolies throughout our economy, and that’s anti-capitalist. Capitalism is supposed to use supply and demand to allocate scarce resources. It was never meant to allow massive corporations to dominate entire markets. Even worse, these corporations use their money to influence the politicians responsible for regulating them. I believe in free markets. That’s exactly why we need to regulate corporations and stop them from buying politicians.