The World under Capitalism

We live in a world defined by capitalism. Historically, it has delivered general prosperity through a variety of systems, from liberal market economies to progressive social democracies. But capitalism has always had a moral price tag. It often celebrates material success at the expense of growing economic inequalities and frequently generates instability.

What does it mean to be rich and poor in the twenty-first century? Why have liberal market democracies increasingly become plutocracies? What do western societies owe to migrants arriving at their borders? Does Chinese state capitalism offer a model of development for the postcolonial South? Can we lessen poverty, reduce global inequality and achieve sustainable growth in an era of accelerating climate change?

Capitalism is an inherently risky system. Ultimately our choices, and how clearly we see them, will determine our futures.

The renowned international economist Branko Milanovic in conversation with Sanjay Ruparelia.