Join us for this event about Martin Wolf's new book, The Crisis of Democratic Capitalism.
Democracy and capitalism are the political and economic 'operating systems' of today's high-income democracies. But how stable is the relationship between them? The answer is 'not very', since it requires a separation of power from wealth inconsistent with almost all historical experience. In his new book, The Crisis of Democratic Capitalism, Martin Wolf argues that this complex system can best be described as a marriage of 'complementary opposites'. The book analyses how this marriage happened, why it is fragile and how economic and political changes have undermined it. It concludes by asking what needs to be done in response to developments that threaten the survival of liberal democracy itself.
Meet our speakers and chair
Diane Coyle (@DianeCoyle1859) is the Bennett Professor of Public Policy at the University of Cambridge. She co-directs the Bennett Institute where she heads research under the themes of progress and productivity. Her latest book is Cogs and Monsters: What Economics Is, and What It Should Be on how economics needs to change to keep pace with the twenty-first century and the digital economy.
Jesse Norman (@Jesse_Norman) is a former Paymaster General and Financial Secretary to the Treasury who now serves as Minister of State at the Department of Transport. He was educated at Oxford University (MA, classics) and University College London (MPhil, PhD philosophy) and holds fellowship at St Andrew’s University and All Souls College, Oxford. His many books include biographies of Edmund Burke and Adam Smith, and a historical novel, The Winding Stair, to be published next year.
Martin Wolf (@martinwolf_) is Associate Editor and Chief Economics Commentator at the Financial Times, London. He was awarded the CBE (Commander of the British Empire) in 2000 for services to financial journalism. Martin won the Overseas Press Club of America’s prize for “best commentary on international news in any medium” for 2013 and the 2019 Lifetime Achievement Award at the Gerald Loeb Awards. He was a member of the UK’s Independent Commission on Banking in 2010-11.
Tim Besley is School Professor of Economics and Political Science and Sir W. Arthur Lewis Professor of Development Economics at LSE. From September 2006 to August 2009, he served as an external member of the Bank of England Monetary Policy Committee and is currently a member of the UK National Infrastructure Commission and the UK Government’s Levelling Up Advisory Council.
More about this event
This event forms part of LSE’s Understanding the UK Economy series, showcasing research and expertise on the state of the UK economy, its global context and its future.
The event is supported by the Mouradian Foundation.
The Department of Economics (@LSEEcon) at LSE is one of the largest economics departments in the world. Its size ensures that all areas of economics are strongly represented in both research and teaching.
Twitter Hashtag for this event: #LSEUKEconomy