What Went Wrong with Capitalism

By: Ruchir Sharma

Narrated by: Fajer Al-Kaisi

Brought to you by Penguin.

A radical examination by a leading financial analyst, commentator and investor of the ills of capitalism and how they can be fixed

What went wrong with capitalism? Ruchir Sharma’s explanation is unlike any you have heard before. Progressives are partly right when they mock modern capitalism as “socialism for the rich,” but what really happened in recent decades is that government in developed nations expanded in just about every measurable dimension, from spending and regulation to the sheer scale of its rescues each time the economy wobbled. The result, Sharma says, is “socialized risk,” expensive government guarantees, for everyone—welfare for the poor, entitlements for the middle class, and bailouts for the rich.

Voters say they are disillusioned with capitalism, but a system so distorted by government interventions is a dysfunctional version of free market ideals. As a result, productivity and economic growth have slowed sharply, shrinking the pie for everyone and stoking popular anger. Since these flaws developed as the government expanded, building an even bigger state will only double down on what’s gone wrong. The answer Sharma offers is a series of seven fixes to restore the balance between state support and free markets and lay the path to a more prosperous and happier future.

©2024 Ruchir Sharma (P)2024 Penguin Audio

Tells a message we all need to be aware of

This is the second of Richie’s books I have listened to and, again, this is of the highest quality and extremely well-researched. A book about economics that I actually listed to from beginning to end. That takes some skill