Nov 18, 2022
We outgrow many things over the course of our lives, financial systems included. Is it time to move beyond capitalism? Marco Dondi, the author of Outgrowing Capitalism: Rethinking Money to Reshape Society and Pursue Purpose, comes on the show to propose how we can rethink capitalism to build a better future. His book sheds light on how the financial system and money operate; furthermore, Marco fosters understanding about how money can be allocated to ensure smooth transitions within the global economy. Proposing more of an equal balance between freedom and government intervention, Marco unveils some solutions for the problems and inequalities that stem from capitalism.
-Is it time to move beyond capitalism? What’s the difference between capitalism and free markets?
-Marco Dondi is the author of Outgrowing Capitalism: Rethinking Money to Reshape Society and Pursue Purpose
-We are starting to outgrow capitalism—especially in developed economies
-Capitalism has created many useful things, but it has also created many problems (i.e. inequality, environmental problems)
-Lots of people today think that the government should intervene whenever they see fit
-Capitalism entails a balance of freedom and government regulation
-Marco proposes that some things can be designed to be much more free
-Energy transitions have never been done by the government; they’ve taken place within markets
-Hefty investments needed to bring new technology to a level of efficiency
-There are times when the government needs to get involved, but sometimes they can do more harm than good (i.e. the energy crisis)
-Is a carbon free world worth it considering the turbulent path required to get there?
-The transition will not happen without new global regulations and countries that are willing to take the lead
-We need to decide to what extent we can cause pain; some countries are in a better spot to make this transition
-With climate change, there needs to be more strategic direction.
-The constraint continues to be that money is limited. It’s important to understand where the financial system is putting this money, and how it can be allocated in a better way