What went wrong with capitalism
In his new book, What Went Wrong with Capitalism, bestselling author, Ruchir Sharma explores how the culture of easy money and bailouts has rewarded oligopolies and billionaires but alienated much of the population.
In his new book, What Went Wrong with Capitalism, bestselling author, Ruchir Sharma explores how the culture of easy money and bailouts has rewarded oligopolies and billionaires but alienated much of the population.
Wednesday 3 July 2024 | 1 hour 17 minutes 30 seconds
Sharma says progressive youth are partly right and that capitalism has morphed into "socialism for the very rich." The broader issue, however, is socialised risk for the poor, the middle class and the rich; government is trying to guarantee that no one ever suffers economic pain by borrowing heavily to prevent recessions, extend recoveries, and generate endless growth. The result is rapidly rising debt and declining competition.