A Perspective from Academy Fellow
Ravi Chaudhry
Carving the Path to Acceptable Capitalism
It is widely acknowledged that capitalism, as it has evolved over the last five decades, is no longer acceptable. Many of today’s global problems are directly attributable to blatant excesses of capitalism – including the glaring collapse of governance, which is virtually subservient to priorities of capitalists in most democracies and autocracies. Politicians and capitalists are like the two sides of the same coin; heads or tails, they are the uncontested beneficiaries of most policy frameworks, often with irreversibly adverse impact on a multitude of global communities. Yet they genuinely believe that their perch at the top of global wealth and power indices is their legitimate entitlement and that they are neither responsible nor accountable for any collateral damages.