What went wrong with capitalism

By:

Sharma, Ruchir

Material type: Text

TextPublication details: Penguin Random House UK London 2024Description: xii, 368 pISBN:

9780241595763

Subject(s):

Capitalism -- Political aspects

DDC classification:

320.51 SHA

Summary: 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. (https://www.penguin.co.uk/books/452844/what-went-wrong-with-capitalism-by-sharma-ruchir/9780241595763)

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Holdings
Item type	Current library	Collection	Call number	Copy number	Status	Date due	Barcode
Book	Indian Institute of Management LRC General Stacks	Public Policy & General Management	320.51 SHA (Browse shelf(Opens below))	1	Available		006481

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.

(https://www.penguin.co.uk/books/452844/what-went-wrong-with-capitalism-by-sharma-ruchir/9780241595763)

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