It can’t be denied that capitalism has shaped the world we live in – from driving the industrial revolution to lifting many people out of poverty but as we make our way out of a global pandemic and face a climate emergency is it time that we look to an economic system other than capitalism?
In a survey by Edelman published last year 57% of people worldwide said that “capitalism as it exists today does more harm than good.” Whilst it’s ability to life people out of abject poverty is a good thing the inequalities between the have and have nots has grown wider – In the US where the poorest individuals have seen no real income growth since 1980, the ultra-rich at the top have seen their income grow by around 6% per year – and has proved a corrosive force within society.
Capitalism has evolved in the past and can do so again – but how?
What is our new economic model going to be?
Should we be ripping up the economic rule book and starting again? If so what with?
Can Capitalism reshape itself to better look after the planet?