Capitalism – The American Conundrum: more pro-market, less pro-business by Prof Luigi Zingales
Interesting talk and discussion in the NUS Business School Dean’s Speaker Series,
by Luigi Zingales, Robert C. McCormack Professor of Entrepreneurship and Finance, Chicago Booth School of Business, presenting his new book “A Capitalism for the People: Recapturing the Lost Genius of American Prosperity”
“In A Capitalism for the People, Zingales makes a forceful, philosophical, and at times personal argument that the roots of American capitalism are dying, and that the result is a drift toward the more corrupt systems found throughout Europe and much of the rest of the world. American capitalism, according to Zingales, grew in a unique incubator that provided it with a distinct flavor of competitiveness, a meritocratic nature that fostered trust in markets and a faith in mobility. Lately, however, that trust has been eroded by a betrayal of our pro-business elites, whose lobbying has come to dictate the market rather than be subject to it, and this betrayal has taken place with the complicity of our intellectual class.” (amazon)
