Foreign Policy Live
How to Fix Capitalism
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.
42:24
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Quick takeaways
- Capitalism is criticized for promoting inequality and hindering dynamism in the economy.
- Governments' interventions tend to protect entrenched interests, impacting productivity and fairness in the market.
Deep dives
Capitalism and Inequality
In advanced economies, there is a growing sentiment that capitalism is rigged, leading to fundamental inequality, declining social mobility, and a fading American dream. This sentiment is fueled by a lack of trust in the government, with a bipartisan belief emerging that big government is better. The system is criticized for being bloated, heavily indebted, and hindering innovation and risk-taking.
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