SoundCloud Link – Listen for yourself
Recently, we were lucky enough to hear from Martin Wolf, the chief economics commentator at the Financial Times. After a short lecture, we had the opportunity to discuss some of the most important issues of our time with him.
Here’s a little excerpt that will give you an idea of what was discussed on the day:
Is the marriage between liberal democracy and capitalism enduring and stable? Political developments in the West highlight the importance of this question. We cannot take for granted the political and economic systems that guide the West today. If not this combination of political and economic arrangements, what might follow?
There are natural characteristics of capitalism and democracy that marry the two together. Both believe that the individual can and should choose what’s best for them.
It is also easy to identify deep tensions between the democratic ideal and the capitalist system. Democracy is an egalitarian idea, but capitalism is clearly inegalitarian. When capitalism becomes to unequal, the rich may try to turn democracy into plutocracy. The dangers of this can be seen in many countries today.
Martin Wolf tackled these tensions between capitalism and democracy with students, and talked about the different ways some of these tensions are playing out today.
Interested in hearing more? Here is a link to the recording on our SoundCloud Page