Sunday, November 4, 2012

"The Information Nexus and the Meaning of Capitalism"



Professor Steven Marks of Clemson University spoke at the University of Oklahoma. PHOTO: Chad Hudson

A historian came to speak of capitalism and the shaky definition the world has for it, Monday, October 29, 2012 at the University of Oklahoma.

Students, faculty and the public gathered as professor Steven Marks, a Soviet historian at Clemson University, talked about how information is the key to capitalism and the economy.

The definition of capitalism has been often confused and misused. There is something wrong with people’s definition of capitalism, Marks said.

“My belief is that, what’s key, is information,” Marks said. “Capitalism is all about information, but information—I think—has gotten ahead of us.”

Information is what Marks feels can rebuild the economy, but the information he speaks of is the knowledge of how to build a business, where to invest, the true meaning of capitalism and how to operate a capitalistic society.

“{Marks} really challenged the crowd to think about capitalism and how it can benefit the economy,” Kevin Zehnder, an OU sophomore, said.

“With the economy so bad these days, this talk made me think that there is a solution out there quicker than what I thought,” Zehnder said.

Price Business College, the department of historythe department of economics and Russian and East European studies sponsored the event. Marks authored a book, “The Information Nexus and the Meaning of Capitalism,” which hopes to explain capitalism and the relationship with information.