Foreign Policy Live How to Fix Capitalism
25 snips
Jun 21, 2024 
Investor and author Ruchir Sharma discusses the challenges facing capitalism in the US, such as excessive debt, regulations, and bailouts leading to economic stagnation. He explores solutions for revitalizing capitalism and draws lessons from global experiences.
AI Snips
Chapters
Transcript
Episode notes
Broken System
- Many Americans feel the economy is rigged, leading to declining trust and a desire for change.
- This is due to declining social mobility and a sense of unequal opportunity, not just outcomes.
Economic Pain Management
- The government's tendency to intervene at the slightest hint of trouble creates economic addiction.
- This 'pain management' prevents the economy from developing natural coping mechanisms, leading to issues like declining productivity.
Zombification of Capitalism
- Bailouts create "zombie companies" – inefficient firms kept alive by easy money.
- This chokes out innovation and startups, contributing to economic stagnation.