Two of America’s hyper-rich white men met in Aspen, Colo., on Monday night to debate the impact of technology on the globe. Eric Schmidt is the chairman of Google and, despite his $6.9 billion, is accused by his opponent, entrepreneur and Ron Paul bankroller Peter Thiel, of not being a good enough capitalist.

It’s a shouty discussion, thanks to a belligerent Thiel, but also an interesting one. Although at times it seems the two are talking past each other, they connect on a couple of direct conflicts. For one, Thiel argues that America is in innovative decline, “because the government has outlawed technology.” Schmidt, on the other hand, sees great progress in technology and blames “bad government” for the ills of the world. For example, Schmidt says of finance: “You either decide that banks are private businesses, in which they should be allowed to fail, or you decide that they are public, in which case they need to be regulated.”

 WAIT, BEFORE YOU GO…

If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.

Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.

SUPPORT TRUTHDIG
In this Article:
#debate#economy#eric schmidt#google#government#jobs#law#peter thiel#tech