Is Capitalism Broken?

'We need to organise politically to defend the weak, empower the many and prepare the ground for reversing the absurdities of capitalism.'

– Yanis Varoufakis

'Capitalism over the past twenty-five years has been an incredible moral good.'

– David Brooks

The Munk debate on capitalism

There is a growing belief that the capitalist system no longer works. Inequality is rampant. The environment is being destroyed for profits. In some western nations, life expectancy is even falling. Political power is wielded by wealthy elites and big business, not the people. But for proponents of capitalism, it is the engine of progress, not just making all of us materially better off, but helping to address everything from women’s rights to political freedoms. We seem to stand at a crossroads: do we need to fix the system as a matter of urgency, or would it be better to hold our nerve?