Bill Ackman: Shutdown Capitalism
on Sunday, May 10, 2020Bill Ackman Money Quote saying short term shutdown is financially feasible, while long term shutdowns threaten capitalism. Bill Ackman said:
“Capitalism does not work in an 18-month shutdown; capitalism can work in a 30-day shutdown” — Bill Ackman
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In this quote, Bill Ackman seems to be arguing that while short-term shutdowns can be overcome through capitalist economic systems, very long-term shutdowns risk seriously damaging those systems.
By stating that “Capitalism does not work in an 18-month shutdown” but “can work in a 30-day shutdown”, Ackman implies that shutdowns of around a month can be weathered through capitalist principles of private enterprise and market forces, with support from temporary relief policies. However, shutdowns stretching over a year and a half risk being too prolonged for capitalism to properly function and recover from.
The quote conveys Ackman’s perspective that capitalism, with its emphasis on free exchange and profit motive, relies on a baseline level of regular economic activity among businesses, consumers and investors. Shutdowns of just a few weeks disrupt but do not destroy this, but shutdowns approaching two years potentially undermine the very foundations of how capitalism is structured to operate by halting activity for too lengthy a period.
Overall, Ackman appears to be arguing that while short-term disruptions can be overcome within a capitalist system, extraordinarily protracted shutdowns risk seriously damaging capitalism’s ability to self-correct and regain stability due to the unprecedented scale and duration of shutdown.