Talking to ... Philip Pilkington

Mar 15, 2025

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It's common knowledge that capitalism has been in a deep crisis of values since the financial crisis of 2007/2008, while the question of where it comes from and how it affects our existing institutions is much more complicated. Talking to Philip Pilkington about this is worthwhile if only because it combines the perspective of a sober observer looking back on a career in investment banking with the acumen of a macroeconomist who can counter his profession's intellectual aberrations based on Philosophy. And because he's also familiar with contemporary thinkers, our conversation dealing with questions of energy, the political class's level of education, and the looming deindustrialization wander easily through entirely different areas. And while you are considering economic »bads,« it may happen that Jacques Lacan pops up, as does Kant’s definition of marriage (›...as a juridical consequence of the obligation that is formed by two persons entering into a sexual union solely on the basis of a reciprocal possession of each other’s private parts‹) and his tacit affinity to the Marquis de Sade. And so, despite the subject's darkness, the conversation is one of great hilarity—and the question can be resolved why the consultation with an OnlyFans model contributes to the GDP growth while, at the same time, conjugal coitus remains a quantité negligeable.

Philip Pilkington is a Senior Research Fellow at the Hungarian Institute of International Affairs where he focuses on macroeconomic and geoeconomic issues. Before joining the institute Philip worked in investment management as a macroeconomic strategist. Philip is the founder of the Multipolarity podcast. He regularly writes for the New York Post as well as other outlets, like The Telegraph, The Spectator, UnHerd, American Affairs, and First Things. He can be found on his Substack Philip Pilkington.

Philip Pilkinton has published