Intelligence Squared A New Vision for Capitalism, with Anne Case, Angus Deaton and Francine Lacqua
Mar 23, 2021
Anne Case and Angus Deaton, both renowned economists from Princeton, shed light on the alarming rise of 'deaths of despair' in America, particularly among the working class. They examine how aspects of capitalism contribute to these crises, exploring topics like the paradox of social media and its role in isolation. They also delve into the potential of universal basic income as a solution and debate the need for reform in education and healthcare. Francine Lacqua skillfully moderates this thought-provoking conversation.
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Hidden Crisis
- Deaths of despair, including drug abuse, alcoholism, and suicide, have been rising among Americans without a four-year college degree.
- This crisis has gone largely unnoticed because it primarily affects the white working class, a group not typically seen as at risk.
Societal Despair
- The rise in deaths of despair isn't solely due to economic hardship but reflects a deeper societal issue.
- Fragile home lives, weakened communities, and unstable work lives contribute to this crisis, leading people to harmful coping mechanisms.
Unequal Capitalism
- Capitalism, while having lifted many out of poverty, has failed to deliver for a significant portion of the population.
- This unequal distribution of prosperity, particularly among those without a BA, fuels social and political unrest.
