Capitalism, wrote economist Andrew Shonfield, is “the great engine of prosperity of the postwar Western world.” Karl Marx, on the other hand, asserted that capitalism sows the seeds of its own demise. Could both things be true? On the Stigler Center/CBR podcast Capitalisn’t, hosts Luigi Zingales of Chicago Booth and Kate Waldock of Georgetown examine questions that help indicate how well capitalism is—or isn’t—functioning in the context of contemporary culture, technology, and politics. For more on the show and its hosts, visit Capitalisnt.com.
With companies such as Pinterest, Airbnb, and Uber all considering going public this year, Kate and Luigi break down why these companies already have huge valuations, and whether rich people have an unfair advantage when it comes to investing.
One of the most talked-about proposals of Elizabeth Warren’s controversial Accountable Capitalism Act was focused on “codetermination.” Kate and Luigi explain how codetermination works, consider its effectiveness, and examine one country that’s been trying it out since the 1950s.
In the wake of a blocked merger between the German and French rail giants Siemens and Alstom, Luigi and Kate debate the role of global antitrust regulators. How do they protect consumers while also helping domestic companies compete with state-supported rivals from China?