Capitalisn't

In this discussion, John Kay, a British economist and author of "The Corporation in the 21st Century," challenges traditional views of corporations. He argues that today’s firms are more about capabilities and less about ownership of capital. Kay emphasizes a shift in understanding business success, encouraging a focus on stakeholder interests rather than just profit. He also explores how technology alters business relationships and the importance of principled practices over mechanical profit-driven approaches.

In this fascinating discussion, Daniel Ziblatt, a Harvard political scientist and co-author of bestselling books like *How Democracies Die*, examines how big money disrupts democratic processes. He highlights the alarming rise of corporate influence and its role in pushing voters toward extremes, undermining civil liberties and economic growth. Ziblatt questions whether democracy can truly thrive when undemocratic leaders are elected. He offers insights on how to realign governmental interests back to serving the people and confronting the decline of democracy globally.

In a compelling discussion, Ruchir Sharma, a renowned columnist for the Financial Times and former head of emerging markets at Morgan Stanley, delves into America’s economic troubles. He compares government bailouts to the opioid crisis, arguing they worsen economic issues. Sharma highlights the growth of zombie firms, the role of easy money in driving housing prices up, and how regulatory overreach leads to inequality. He also stresses the need for a strong welfare system to counter corporate manipulation and advocates for a clearer diagnosis of capitalism's ailments.

Federico Sturzenegger, an economist and former Argentine Minister of Deregulation and State Transformation, shares his insights on radical deregulation in Argentina. He discusses the ambitious plans of President Javier Milei to drastically reduce government size and oversight. Sturzenegger examines the potential lessons for the new U.S. Department of Government Efficiency (DOGE), questioning whether slashing regulations truly spurs broad economic growth or merely benefits a select few. The conversation delves into the balance between necessary regulations and economic revitalization, providing a compelling perspective.

Sir Niall Ferguson, an acclaimed author and historian at Stanford and Harvard, delves into the startling shift from fears of overpopulation to underpopulation. He emphasizes the troubling decline in fertility rates, highlighting consequences for economies and societies. The discussion touches on how factors like climate change, immigration, and the balance between career and motherhood influence family planning. Ferguson urges a rethink of economic theories as demographic changes reshape geopolitics and future labor markets, raising the question: can we reverse these trends before it's too late?

Kathryn Judge, a leading authority on banking and finance from Columbia University, joins the discussion about Visa's monopolistic grip on debit transactions. She sheds light on the Justice Department's antitrust lawsuit against Visa, alleging it suppresses competition and exploits fees. The conversation reveals how Visa's dominance stifles innovative payment solutions like Apple Pay. Judge emphasizes the intricate relationships in the middleman economy, underlining the need for a fairer and more transparent payment system for consumers.

Brody Mullins, a Pulitzer Prize-winning investigative reporter and co-author of "The Wolves of K Street," explores the intricate world of lobbying as it intertwines with American politics. He discusses how lobbyists, rather than political parties, often determine election outcomes, shedding light on corporate influence across administrations. Mullins delves into the evolution of lobbying since the 1970s, revealing its impact on society, and highlights the growing skepticism toward big business. The conversation raises crucial questions about the future of capitalism in an evolving political landscape.

Listeners get an inside look as the hosts tackle audience questions. They explore the definition of capitalism and its current challenges, including crony capitalism and wage disparities. Universal Basic Income sparks debate on whether it disincentivizes work, while the rise of AI prompts a reevaluation of economic principles. The conversation takes a fun turn as they imagine what they would do with presidential power for a day. Plus, there’s a curious inquiry: does Luigi really believe in taking time off?

The economic proposals from Kamala Harris and Donald Trump are put under the spotlight. Both candidates are criticized for their vague strategies, relying on 'vibes' rather than specifics. The conversation dives into the implications of tariffs, housing costs, and healthcare expenses. There's a compelling discussion on energy transitions, focusing on renewable sources versus natural gas. They also highlight the lack of discourse on national debt and the evolution of crypto regulations, revealing gaps in candidates' economic frameworks.

Marietje Schaake, an international technology policy expert and former European parliamentarian, discusses the growing concern over Big Tech's influence on democracy. She warns of a 'Tech Coup' that threatens privacy and individual rights through surveillance and unchecked innovation. The conversation delves into the need for balanced regulation, contrasting Europe and the U.S.'s approaches. Schaake also emphasizes the importance of grassroots movements in safeguarding democratic values against the encroachment of powerful tech companies.