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.
Paul Tucker, a former official at the Bank of England during the 2008 financial crisis and author of the new book Unelected Power, explains to Kate and Luigi how technocratic hubris can imperil democracy.
Tristan Harris, a former design ethicist at Google and “the closest thing Silicon Valley has to a conscience,” warns Kate and Luigi about targeted digital advertising that creates individual, orchestrated experiences dictated by nothing more than an algorithm.
As ad revenue continues to decline, more and more news organizations are turning to paid and sponsored content. Luigi and Kate revisit the decades-old music payola scandal and debate how to ensure proper disclosure in the digital age.