Ruchir Sharma, Chairman of Rockefeller International and author of "What Went Wrong with Capitalism," joins to dissect the current economic landscape. He critiques the role of government intervention in capitalism, highlighting rising inequality and declining productivity. Sharma challenges assumptions about corporate tax rates, emphasizing the need for reform. He also examines the evolution of economies like India and the implications of immigration policies. The discussion touches on finding happiness amid economic stresses and how life often improves with age.
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insights INSIGHT
Capitalism's Ruin
Ruchir Sharma critiques capitalism's increasing government intervention, impacting productivity and inequality.
He argues that excessive regulation, bailouts, and spending hinder the economy's creative destruction.
insights INSIGHT
Regulation Debate
Scott Galloway acknowledges government overspending and bailouts but questions over-regulation claims.
He suggests some industries, especially large ones, are under-regulated, leading to monopolies.
insights INSIGHT
Declining Productivity
Global productivity growth has been declining, despite a tech boom, partly due to demographics and declining productivity.
Ruchir Sharma discusses the "productivity paradox," arguing that government intervention keeps "deadwood" companies alive, hindering growth.
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The 10 Rules of Successful Nations offers pioneering insights into what makes a nation economically strong. It challenges conventional thinking by highlighting the importance of embracing technology and immigration, preferring democratic leadership, and understanding the role of stock prices and debt in economic stability. The book provides a practical guide to real-world economics, drawing from Sharma's extensive experience as a writer and investor.
Breakout nations
In Pursuit of the Next Economic Miracles
Ruchir Sharma
In 'Breakout Nations: In Pursuit of the Next Economic Miracles,' Ruchir Sharma provides a detailed overview of the global economy, focusing on emerging markets. Sharma argues that each nation must be understood individually, rather than as part of a broader group like the BRICS. He draws on his two decades of experience traveling to and analyzing various countries, offering insights into their economic, political, and social dynamics. The book highlights countries that have managed their growth well during the post-2008 crisis and those that are poised to become the next economic success stories, such as the Philippines, Turkey, and Nigeria. Sharma also emphasizes the importance of political leadership and stability in economic growth, contrasting his views with other theories that focus on institutions and geography.
What Went Wrong with Capitalism
Ruchir Sharma
Ruchir Sharma's "What Went Wrong with Capitalism" examines the detrimental effects of excessive government intervention in the economy. Sharma argues that capitalism wasn't a failure, but rather was undermined by well-intentioned government actions. The book explores how government interventions, from increased spending to excessive regulation, have distorted markets and hindered productivity growth. Sharma uses historical examples and global case studies to support his analysis, offering insights into the insidious consequences of big government. He proposes solutions focused on restoring market efficiency and reducing the burden of state intervention.
Ruchir Sharma, the Chairman of Rockefeller International and Founder and Chief Investment Officer of Breakout Capital, an investment firm focused on emerging markets, joins Scott to discuss his latest book, “What Went Wrong with Capitalism.” Follow Ruchir on X, @ruchirsharma_1.
The Prof G Pod with Scott Galloway 
