The Future of Capitalism with Mike Munger

Doug and Mike talk about the current dynamics of capitalism in reference to his book: 'Is capitalism sustainable?' The core conflict Doug and Mike discuss is the fundamental conflict between public policy and private enterprise whereby there is an adverse incentive for business leaders to take advantage of government programs that are not broadly beneficial, but produce narrow benefits. The core conflict is that if these managers do not participate, their board of directors have every incentive to replace them with other managers who will. Doug's business specializes in partnering with companies and non-profits to capture overhead cost savings without layoffs to fund growth and strengthen financial results. Schedule time with Doug to talk about your business at www.MeetDoug.Biz <<Transcript>> [Music] [Introduction] Welcome to the terminal value Podcast where each episode provides in depth insight about the long term value of companies and ideas in our current world. Your host for this podcast is Doug Utberg, the founder and principal consultant for Business of Life, LLC. Doug: Okay Welcome to terminal value podcast. I have Michael Munger on the line here. This is actually a little bit of a moment for me. Because I have actually been a long time listener to the econ talk podcast. Where Mike has been a regular and recurring guests and one of my favorite guests of course. I think one of the first episodes I listened to was with Milton Friedman and well you know it's hard to compete with Milton Friedman. But Mike here is a world-class okie dokie guy and he has written actually a number of books. But the one that I wanted to talk about today just as a part of the conversation is his book is capitalism sustainable. Because I’d like to talk about really what the future of capitalism looks like. And Mike I’d love to get your thoughts or just kind of tee up the conversation. But just what I’m seeing is that you know I think what people call capitalism really isn't capitalism. People think of capitalis