Forward Vision with Matthew Taylor

Johan Norberg's defence of capitalism

Oct 24, 2023

The podcast debate between Matthew Taylor and Johan Norberg discusses the misunderstood nature of capitalism, its role in driving progress and innovation, and the importance of inclusive growth and redistribution. They also explore the consequences of de-industrialization, the failure of new public management in the public sector, the role of financial arbitrage in capitalism, and the significance of pluralism and exercising our minds.

35:10

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Quick takeaways

Capitalism, through its entrepreneurial nature, is the best way to solve problems like climate change.

Openness, collaboration, and global exchange are necessary to tackle global issues in an unpredictable world.

Deep dives

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This podcast episode discusses the importance of ethical leadership, highlighting the role of the Ford Institute in promoting this concept. The episode emphasizes that organizations, including commercial businesses, should consider their responsibilities to stakeholders, society, and the planet. The guest argues for unleashing the forces of creative destruction as a way to drive progress, rather than putting limits on entrepreneurship and profit maximization. It is suggested that a misunderstanding of market forces has led to calls for increased government intervention, despite objective indicators showing improvements in living standards over the past two decades.

Introduction

2min

Capitalism: Misunderstood, Criticized, and the Way Forward

17min

Consequences of de-industrialization, failure of new public management, and the importance of respecting public needs

6min

The Role of Financial Arbitrage in Capitalism

9min

The Importance of Pluralism and Exercising Our Minds

2min

Author and historian Johan Norberg joins Matthew for a debate on whether capitalism holds the answers to society's problems.

It is a sure sign of capitalism's unpopularity that it is treated with suspicion by both the left and the nationalist right. The modern view of capitalism skewers it as being unbridled, only benefiting a fortunate few while many in society are left behind. But should we see capitalism as the means to creating a more open, collaborative and innovative society instead? Today's episode takes a different form, as Matthew debates with Johan Norberg on the detriments and benefits of capitalism. This is a far ranging conversation that examines the way that capitalism has shaped our world, and asks whether or not we should embrace it.

Johan Norberg's book 'The Capitalist Manifesto: Why the Global Free Market Will Save The World' is available from Atlantic Books

https://atlantic-books.co.uk/book/the-capitalist-manifesto/

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