Stay Tuned with Preet Capitalism & the Election (with Ruchir Sharma)
Sep 5, 2024
Ruchir Sharma, a seasoned investor and contributing editor for The Financial Times, shares insights from his book, What Went Wrong with Capitalism. He discusses the crisis of capitalism in America, highlighting the impact of government intervention and bailouts on economic vitality. Sharma analyzes the implications of Trump's legal troubles and his statements on election interference. The podcast also explores the nuanced role of humor in courtrooms, examining when it can lighten tension versus when it can undermine serious legal matters.
AI Snips
Chapters
Books
Transcript
Episode notes
Bailout Culture Perils
- Government bailouts create a moral hazard, encouraging excessive risk-taking.
- The first bailout in 1984 set a precedent, leading to a cascading effect.
1984: A Turning Point
- The bailout of Continental Illinois in 1984 broke a long-standing taboo against government intervention.
- It also triggered a shift toward increased government involvement in the economy.
Manhattan Condo Story
- Preet Bharara bought a Manhattan condo for $180,000 at age 28.
- Today, it's worth over $1 million, while entry-level legal salaries have not seen a comparable increase.
