By Thalia Kattoura | Staff Writer
On Wednesday, March 1st, the Investment Club and the Economics Student Society held a debate between professors and students at West Hall. This event came to everyone’s delight, given that debates are not often held in such a setting.
The motion of the debate was: “Is capitalism the best economic system?” And as a motion that is often challenged and defended, the topic of the discussion appeared promising. The debate was going to adopt the form of an Oxford Union-style debate, which would give the floor to the speakers in question to extensively express their ideas
The speakers of the proposition were:
Dr. Sumru Altug, Chair of the AUB economics department
Dr. Nadine Yamout, Assistant Professor of the AUB economics department
Ismail Hamdan, President of the Economics Student Society
The speakers of the opposition were:
Dr. Tariq Tell, Assistant Professor in the PSPA department
Thalia Kattoura, USFC member double majoring in economics and political studies
The debate was moderated by the Vice President of the Investment Club, Omar Chmouri.
What is an Oxford Union-style Debate?
The Oxford Union-style debate is a form of debate that is done under a specific format, allowing all speakers to have an opportunity to express their stance. The advantage of such types of debates is that it also leaves room for the audience to partake in the discussion.
Typically, the format is as follows:
- The Chairman will begin the debate by explaining the procedures for the debate, floor debate, and voting.
- The first speaker for the proposition will introduce the other guest speakers by name and with a short introduction and then begin their speech. The audience is free to interrupt throughout – should the speaker give way – for them to inquire more about the topic or challenge the ideas proposed.
- The first speaker for the opposition will briefly introduce the guest speakers for the proposition before beginning their own speech, which follows the exact format as the previous speakers.
- The second speaker for the proposition and opposition will then give their speeches,
- if a rebuttal is allowed, it will usually be made by the first speaker for each side.
- The Chairman will then call for the voting to begin, which will be conducted by a show of hands or another voting procedure.
- The Chairman will end the debate by thanking the speakers and audience for their participation.
The Day of the Debate
As the day followed, the event received a great turnout as many people from different academic backgrounds and opinions attended the debate. In brief, the essence of the argument for capitalism (the proposition) was to argue in favor of capitalism and shed light on the many innovations that it has brought to growing economies. To establish such an argument, the speakers of the proposition used existing economic models, debunked a few critiques that capitalism typically receives, and pushed for the importance of competitive and innovative markets. The speakers of the opposition, on the other hand, sought to deconstruct any feelings of hostility towards alternative modes of capitalism, investigated historical and modern capitalism, and proposed a roadmap for a new model.
Finally, VP Omar Chmouri concluded the debate by introducing the voting procedure, which would be done by scanning a QR Code. The voting structure was simple; the motion of the debate “is capitalism the best economic system?” was reiterated, and people had the option to vote with or against the motion.
Out of the 24 responses, 19 voted against the motion and 5 voted with the motion. The debate ended with great success, leaving people – including the speakers – much more informed about the topic.
Such debates are crucial to be held, especially when many side discussions occur around these specific topics. AUB is a place to express one’s mind freely – as such, these modes of discussion should be encouraged, so as to allow everyone around to ameliorate their critical thinking and articulation skills.
Especially in times of economic crises like Lebanon, allowing speakers to question or defend the current economic system is crucial to developing a better understanding of the technicalities of such topics.