For decades, Ruchir Sharma worked at the bank, Morgan Stanley - including as head of global strategy. Today he works for Rockefeller Capital Management, as well as writing a column for the Financial Times.
Yet despite his stellar CV Sharma is crystal clear about modern capitalism: it is in crisis. Worse still, policies like QE and record-low interest rates, pursued for more than a decade, have created a form of socialism for the wealthiest while the majority have seen their living standards stagnate.
But why is the economic model of the West increasingly incapable of generating growth without more debt? Is productivity now permanently lower? Will China replace the U.S. as the world’s leading economy? And is Europe really…over?
In this conversation, Shamir relays his views on all that, and more, as he delves deep into the ideas at the heart of his latest book “What Went Wrong With Capitalism”.
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Episodes of Downstream are released Sundays at 3PM on YouTube.
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