Martin Wolf: Is Capitalism Killing Democracy?

<p>Martin Wolf is a renowned <i>Financial Times</i> columnist, and his new book is <i>The Crisis of Democratic Capitalism</i>. In it, he argues that liberal democracy and market capitalism are inextricably linked – and that both must be reformed to survive. Bethany and Luigi discuss with Wolf how meritocracy, rising inequality, polarization, and the erosion of trust led to this crisis and debate whether it was policy failures or the mistakes of capitalism that exacerbated it. Ultimately, they also try to answer the question: Will the US be a functioning democracy by the end of the century?</p><p><i><strong>Show notes:</strong></i><br />Read the following articles in <i>ProMarket</i>:</p><ol><li><a href="https://urldefense.com/v3/__https://www.promarket.org/2020/10/04/milton-friedman-donald-trump-assault-on-democracy-corporations/__;!!BpyFHLRN4TMTrA!8YKJ_HxNrYQgEFGe1xJD9z_becA1-8qklk-CCPCVmLjBZ2cMoV-JEJ6ZICeJqoHjY2Wj5tW6NxyvJvc3Hh_ODoBePa-N9xb_Qg$" target="_blank">There Is a Direct Line from Milton Friedman to Donald Trump's Assault on Democracy</a>, by Martin Wolf</li><li><a href="https://urldefense.com/v3/__https://www.promarket.org/2021/06/03/george-stigler-challenge-democracy-corruption-regulation/__;!!BpyFHLRN4TMTrA!8YKJ_HxNrYQgEFGe1xJD9z_becA1-8qklk-CCPCVmLjBZ2cMoV-JEJ6ZICeJqoHjY2Wj5tW6NxyvJvc3Hh_ODoBePa9MbSboFw$" target="_blank">George Stigler and the Challenge of Democracy</a>, by Anat Admati</li><li><a href="https://urldefense.com/v3/__https://www.promarket.org/2022/11/21/corporations-are-not-we-the-people/__;!!BpyFHLRN4TMTrA!8YKJ_HxNrYQgEFGe1xJD9z_becA1-8qklk-CCPCVmLjBZ2cMoV-JEJ6ZICeJqoHjY2Wj5tW6NxyvJvc3Hh_ODoBePa9smAoVvg$" target="_blank">Corporations Are Not “We the People,</a>” by Geoffrey Stone</li><li><a href="https://urldefense.com/v3/__https://www.promarket.org/2020/11/17/ebook-milton-friedman-50-years-later/__;!!BpyFHLRN4TMTrA!8YKJ_HxNrYQgEFGe1xJD9z_becA1-8qklk-CCPCVmLjBZ2cMoV-JEJ6ZICeJqoHjY2Wj5tW6NxyvJvc3Hh_ODoBePa_qieZhtQ$" target="_blank">eBook: Milton Friedman 50 Years Later, a Reevaluation</