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The News Agents
What went wrong with capitalism?
Jan 10, 2025
Explore the pressing challenges of the UK's economy, from rising borrowing costs to the impacts of external influences. Delve into the phenomenon of 'zombie companies' that hinder innovation and growth, revealing the faults in systemic support structures. Discuss the evolution of government intervention in capitalism and how historical shifts have shaped today's economic landscape. Insights on successful regulatory reforms in other countries highlight potential solutions to slow growth and high housing costs, questioning the fairness of current fiscal policies.
37:31
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Quick takeaways
- The British government is grappling with rising borrowing costs and challenges in stimulating economic growth amidst historical fiscal struggles since the 2008 crisis.
- Ruchir Sharma's critique of capitalism highlights how corporate failures are subsidized while ordinary citizens face economic burdens, prompting calls for systemic reform.
Deep dives
The Focus on Economic Growth
The primary mission of the new government is to stimulate economic growth, with a determination to position the country as the fastest-growing economy within the G7. Acknowledging the historical struggles of the British economy, the government recognizes that tax-and-spend approaches are inadequate for fostering prosperity. Reforms in planning, labor participation, and skills development are central to this growth strategy. There is a consensus among political leaders that improving the economy is essential, yet the current landscape reveals daunting challenges for achieving these ambitious growth targets.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode