#486 | Ruchir Sharma: A Capitalists Case Against Capitalism - Bailouts, Debt, Regs - The Realignment

Ruchir Sharma, author of What Went Wrong with Capitalism, joins The Realignment. In this episode, Ruchir argues that many of America's ills and the populace's rejection of the status quo stems from too little, as opposed to too much market-focused thought, offers a revisionist history of the post-1980s Neoliberal era, makes the case against the rising rate of government bailouts of private industry, and instead offers a vision focused on reducing debt, increasing productivity, and growth-focused deregulation.

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0:00 - Introduction
0:58 - What went wrong with Capitalism?
7:31 - Bailouts
17:18 - Political decision making
20:35 - Bailout cycle
24:37 - Why do bailouts happen?
28:25 - American economic history
33:18 - Response to critics
37:30 - What did the government not do?
42:40 - National security & the economy
51:42 - Ruchir’s vision

[tomasfontes]

It takes someone who actually experienced central planning (in 1970s/1980s India) to offer a proper counter-critic to the choir of mainstream critics of 'neoliberalism' 👌

[cyberpunkalphamale]

The best response to this back and forth at 38:00 - 41:00 is the Damon Silvers talks on Neoliberalism giving at UCL. The first talk is titled "Understanding Neoliberalism as a System of Power".

[mf]

And what about boards bonusing themselves with bailout money? They should be in jail for misappropriation of funds.

[nealrutgerskid]

We need an interview with an author who analysed prominent fed chairman and their actions to get a good understanding of economic governance.

[shanesprecher]

The only problem I have with a “meritocracy” is if the system itself is corrupt.

[SandrayCarlitos]

Hey Marshall what role does federalism play in these industrial priorities? Green Transition a matter left to the states? Chips Act a federal matter?

[pawankhurana]

Lesson for BJP Led NDA too, BJP says Minimum Government and Maximum Governance but on ground they do not follow it, Ruchir is very right when he says that Capitalism can survive and remain healthy only when Government intervention is minimal and when Government provides and maintains an ecosystem

[rajx]

I think the productivity gains of capitalism are not reaching everyone. I see three problems:-
a) Not everyone is doing high productivity jobs. Many still work long hours for low wages. Instead, if people worked less hours using machines instead of manual labour, to earn the same wages, then that is still worth it.
b) Those who are in high productivity jobs, work long hours with high wages, but poor work-life balance.
I wish we could equalize this. By having more people work fewer hours of high productivity jobs.
c) Most of the profits of productivity, stay with companies, who just fire their employees after the job is done, and no more work is there.
So, to fix this, everyone should own shares of all profitable companies, to share the gains, because they too contributed to those companies.
In this way, production could be high enough to meet everyone's needs, and people would have enough earnings to buy the goods and services they need.

[AlgoNudger]

Capitalism is being eaten alive by Technofeudalism. 😂

[anuragsinha]

I like Ruchir Sharma but don't like who he represents (rockerfeller) but he's very good and generally knows his stuff from his ideological persuasion.
Secondly, Ruchir Sharma is making similar arguments that Vivek Ramaswamy makes but Marshall Kosloff went to Breaking points podcast to badmouth Vivek.
Now on the Israel issue on Breaking points he's not even invited by Krystal Ball because it doesn't fit the narrative that Krystal Kyle and her Friends want to push.

[scottduncan]

This guy realizes that people are unhappy with the unfettered free market capitalism of today, and proposes that we just need free-er markets? Malarkey.