Wednesday , January 29 2020
Home / Yanis Varoufakis: Thoughts for the Post-2008 World / Is capitalism past its expiry date? Munk Debate (K, Vanden Heuvel & Y. Varoufakis vs A. Brooks & D. Brooks)

Is capitalism past its expiry date? Munk Debate (K, Vanden Heuvel & Y. Varoufakis vs A. Brooks & D. Brooks)

Summary:
The capitalist system is broken. It’s time to try something different. [embedded content] For my 3 minute conclusion of this debate, jump to 1 hour 59 minutes There is a growing belief in western societies that the current capitalist system no longer works for average people. Economic inequality is rampant. Life expectancy is falling. The environment is being destroyed for profits. Political power is wielded by wealthy elites and big business, not the people. For capitalism’s critics, the answer is a top to bottom reform of the “free market” along more socialist and democratic lines. For proponents of capitalism, it is the engine of economic and social progress, full stop. Not only has capitalism made

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An accidental economist Let me begin with a confession: I am a Professor of Economics who has never really trained as an economist. But let’s take things one at a time.

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