Bloomberg Daybreak: Asia Edition Daybreak Weekend: Broken Capitalism and a 2026 Stock Outlook
18 snips
Dec 26, 2025 
John Authers, a Bloomberg Opinion columnist, dives deep into capitalism's historical shifts and how AI could spark a new industrial revolution. Tim Craighead, Director of Equity Research, shares insights on European stocks set to shine in 2026, highlighting key catalysts in various sectors. Meanwhile, John Lee, a research content manager, outlines the Asian equity landscape, discussing China’s export reliance and India’s growth story. The conversation is packed with thought-provoking ideas on the future of finance and market dynamics!
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State And Markets Are Interdependent
- Capitalism has repeatedly reinvented itself through shifting compacts between state and markets.
- John Authers argues a politically legitimate state is essential as referee for markets to function.
Capitalism's Historical Shape-Shifts
- Capitalism evolved through distinct historical phases from laissez-faire to postwar Keynesianism to neoliberal financialized capitalism.
- Each successful model eventually broke down and prompted intellectual ferment and reform, Authers says.
AI Could Force A New Social Compact
- AI could be as transformative as the industrial revolution and may require massive redistribution.
- Authers warns widespread job irrelevance from AI would force reimagining the state's role, possibly via basic income or compensation schemes.