On the Crisis of Democratic Capitalism
4.30 pm CET
Some advocate for democracy without capitalism, others promote capitalism without democracy. In his new book “The Crisis of Democratic Capitalism“, Chief Economics Commentator at the Financial Times Martin Wolf addresses the challenges facing the marriage of liberal economics and democracy, a partnership that has brought immense benefits to the world, but now faces its toughest test in decades.
Wolf’s thesis is that rentier capitalism, which has caused inequality to grow in many of the liberal democracies, has undermined democracy and is now threatening to change its guiding principle from ‘one citizen one vote’ to ‘one pound one vote’. With the rise of populist demagoguery, illiberal democracy, and personalised autocracy, the very concept of democratic capitalism is in question. We have invited him to discuss his theses with Economics Professor Martin Hellwig.
Join us for this timely and important discussion as we explore the future of democratic capitalism and the steps we can take to ensure it serves the interests of all citizens.
We cordially invite you to participate in the discussion. The Short Cut will be held in English.
is chief economic commentator at the Financial Times, London. In 2000 he was awarded the CBE (Commander of the British Empire) "for services to financial journalism" and was a member of the UK government's Independent Commission on Banking between June 2010 and September 2011.
is Director Emeritus of the Max Planck Institute for the Study of Common Goods in Bonn and has acted in an advisory capacity for the German Ministry of Economics and the Monopolies Commission as well as for the European Systemic Risk Board, among others.