Eliot Spitzer: ‘I Don’t Think The Wall Street Journal Has the Foggiest Idea of What Capitalism Is All About’


In a very smart talk with Interview magazine's Stephen Mooallem, Eliot Spitzer went after — among other things — his most recent nemesis, The Wall Street Journal:

It's very hard to be a passionate moderate, because the energy and the adrenaline flows more when you're the screaming libertarian or the angry populist who attacks the ramparts of capitalism. I actually believe in capitalism. But I don't think The Wall Street Journal has the foggiest idea of what capitalism is all about. They don't understand what markets are and how they work.

I believe that for markets to work, you need a government that brings enforcement actions and sets parameters the way we were trying to when I was AG. It was part of a much more nuanced argument that I was trying to make when I was governor about what government should do. But populism, which is driven by anger, isn't going to get us to the point where we actually create jobs or wealth for people. It's a visceral response. What we need is a more sophisticated understanding of how the economy really works — and the caricature that's put forth on The Wall Street Journal's editorial page is just as wrong as the one put forth by the angry populists.

Quotes like that from Eliot Spitzer, economic activist, almost make you forget about Eliot Spitzer, lover of young prostitutes who doesn't take his black socks off during sex. Luckily, Interview paired their story with photography by Terry Richardson, which somehow reminds you again.

Eliot Spitzer [Interview]