I have no doubt the challenges that these are going to create, including increasing now AI as part of this, are going to be immense. So I think there has to be really serious competition policy, and I think a lot of these companies have to be broken up. It's perfectly plausible that we will decide that some of this cannot be left in pain. The capitalist system of today is completely different from that of two centuries. Adam Smith missed almost all of that. He had no idea of growth, which is really extraordinary. We must say these are real problems, and we're going to have to find ways of tackling them. And waiting until we get some overwhelming revolutionary transformation is going to
This episode brings you part one of our live event, System Error: Should We Fix Capitalism or Abandon It?
Chief Economics Commentator at the Financial Times, Martin Wolf, and Greek Politician and Economist, Yanis Varoufakis, debate their views on the future of capitalism. In his new book, The Crisis of Democratic Capitalism, Wolf argues that democratic capitalism remains the best system for human flourishing, while Varoufakis advocates for a post-capitalist world without banks, billionaires, or tech giants. BBC journalist and broadcaster, Ritula Shah, was our host for the night.
Parts two and three of this event are available ad-free for subscribers now. For our listeners who don’t subscribe, part two will be available in our next episode. We also have a special bonus episode for subscribers from our series Bright Sparks, where we’ll be hearing from both Yanis and Martin on the creative ideas that make them tick.
This event originally took place at the Tabernacle in London on February 9th 2023 and was produced by Executive Producer Hannah Kaye, with editing by Executive Producer Rowan Slaney.
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