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Is capitalism broken? | Guy Standing, Izabella Kaminska, Jamie Whyte, and Steven King

Guy Standing, Jamie Whyte, Izabella Kaminska and Stephen King debate if we can save capitalism.

Watch the full debate at

It is just twenty-five years since Fukuyama’s claim, taken seriously at the time, that capitalism and liberal democracy had won, and represented the endpoint of cultural advance. Instead, after a decade of stagnation marked by extremes of wealth and opportunity, it seems that capitalism, far from being victorious, is fundamentally broken.

Is capitalism in need of reform, or is a more profound change required to create a fairer and more equal society? Or, despite its flaws, is capitalism still the only reliable driver of improved living standards from London to Beijing?

#capitalism #economics #debate

Guy Standing is Professorial Research Associate at SOAS University of London, and honorary co-president of the Basic Income Earth Network.

Izabella Kaminska is Editor of FT Alphaville.

Jamie Whyte is a New Zealand classical-liberal academic and politician, previously Leader of ACT New Zealand.

Stephen King is senior economic adviser at HSBC Holdings, where he was previously chief economist.

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Izabella Kaminska
Izabella Kaminska joined FT Alphaville in October 2008, which was, perhaps, the best time in the world to become a financial blogger. (Added bonus: there was a free breakfast trolly.) Before that she worked as a producer at CNBC, a natural gas reporter at Platts and an associate editor of BP’s internal magazine. She has also worked as a reporter on English language business papers in Poland and Azerbaijan and was a Reuters graduate trainee in 2004. Everything she knows about economics stems from a childhood fascination with ancient economies, specifically the agrarian land reforms of the early Roman republic and the coinage and price stability reforms of late Roman emperors. Her favourite emperor is one Gaius Aurelius Valerius Diocletian. She studied Ancient History at UCL, and has a masters in Journalism from what was then the London College of Printing. And yes, she is also a second-generation West London Pole (who likes mushroom picking, bigos and pierogi).
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