Steve Forbes Speaks in Naperville

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North Central College recently welcomed a business leader and media mogul to speak on campus.

Steve Forbes, Chairman and Editor-In-Chief of Forbes Media, spoke on capitalism to a crowd of nearly 500 in Wentz Concert Hall.

“I use the word ‘capitalism’ because it’s a dirty word right now, especially since the crisis of 2008, 2009. Whether you call it capitalism, free markets, free enterprise or whatever name you wish to give to it, it all relates to this; capitalism is people, people interacting with each other, trading with each other,” said Forbes.

Forbes came to the college after being invited by the campus’ student Republican organization.

“As a college community, we offer a forum for our campus, the community and the entire Chicago region to share a broad range of perspectives and to promote civil discourse around those perspectives,” said President of North Central College, Dr. Troy D. Hammond about Steve Forbes’ visit.

Beyond capitalism in general, Forbes discussed free markets and how they can turn scarcity into abundance.

“Take for example Henry Ford. 120 years ago an automobile in this country, a functioning one, cost the equivalent of $100,000. It was a toy for the rich. Then along comes Henry Ford, gifted engineers create ultimately the moving assembly line, turn a toy for the rich into something every working person could afford,” said Forbes.

Another area where Forbes would like to see more of a free market is healthcare.

“The key to healthcare reform is getting more and more patient control,” said Forbes.

Forbes believes nationwide shopping for health care plans and increased transparency from healthcare providers are steps in the right direction for healthcare reform.

At the end of the presentation, Forbes answered some student submitted questions focused on how Forbes Media has stayed relevant in a changing media landscape.

“What is your mission? If you remind yourself what it is you’re trying to do, and you don’t get quite as hung up, if the means to achieve that purpose change as ours did drastically,” said Forbes.

Forbes also touched on the need for a flat tax and less governmental regulations.

The event was sponsored by the Young America’s Foundation, a conservative youth organization.

Naperville News 17’s Evan Summers reports.