Some analysts argue that capitalism would work better without democracy, while others believe that democracy would be better off without capitalism – so what’s the solution? In his new book “The crisis of democratic capitalism”, Martin Wolf, chief economics commentator at the Financial Times, sets out how they actually need one another if either is to thrive. In this week’s episode, host Mark Leonard welcomes Wolf to discuss what democratic capitalism is all about and how it is threatened by two distinct authoritarian versions of capitalism. What does all this mean for the development of democracy and capitalism in developing and emerging economies? And what are the chances that democratic capitalism will remain the model to which countries around the world aspire?
This podcast was recorded on 10 February 2023.