We have to decide whether we're focusing on our nations or the world. Government must play a very important role in making sure that all people have the basic necessities of life, yes. But when it comes to business, we can change and transform the world of business by changing its deep design. We need to democratize ownership by having companies owned and governed by those directly with the stake. I'm talking about employee owned companies, or cooperatively owned. Companies have started putting nature on the board and saying, what would nature ask for this business to do? Of course a company must make a profit. Why should their interests be put first? No, let's give business a purpose as it
It’s Ok To Be Angry About Capitalism is the title of the new book by the US politician Bernie Sanders. In it he castigates a system that he argues is fuelled by uncontrolled greed and rigged against ordinary people. He tells Tom Sutcliffe it’s time to reject an economic order and a political system that continues to benefit the super-rich, and fight for a democracy that recognises that economic rights are human rights.
The Chief Economics Commentator at the Financial Times Martin Wolf looks more closely at how and why the relationship between capitalism and democracy appears to be unravelling. But despite the failings – slowing growth, growing inequality and widespread popular disillusion – he argues in The Crisis of Democratic Capitalism that the relationship remains the best system for human flourishing.
But the economist Kate Raworth believes that mainstream economics has had its day. Its failure to predict and prevent financial crises, while allowing extreme poverty, inequality and environment degradation to persist, means its contributing to, not solving, societal unrest. She argues that her theory – Doughnut Economics – offers a new model for a green, fair and thriving global economy.
Producer: Katy Hickman