

What Went Wrong with Capitalism? — with Ruchir Sharma
79 snips Jun 20, 2024
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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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.
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.
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.