Why We Can't All Be Denmark | Featuring Branko Milanovic

03/17/20 • 28 min

Presidential Scholar at CUNY and author of Capitalism, Alone, Branko Milanovic kicks off the second season of How to Fix Democracy. He discusses elements of different capitalistic systems, such as in the United States and Denmark, and rejects the commonly held assumption that people universally value freedom over economic prosperity.

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Democracy: It’s the Only Way to Preserve Freedom | Featuring Larry Diamond

Considered one of the world’s leading experts on democracy, Larry Diamond, senior fellow at Stanford University’s Hoover Institution, believes democracy worldwide is in a recession. The crisis is “bad, deepening, accelerating,” but he suggests several steps we can take to reverse the trend, such as ranked choice voting to tackle the two-party system, and spreading “motor voter” laws to increase the number of registered voters. For Diamond, democracy is the only political system that can preserve freedom, which is itself intrinsic to being human.

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Uneven Playing Field | Featuring Raghuram Rajan

Raghuram Rajan is the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business. Previously, he was the 23rd Governor of the Reserve Bank of India and the Chief Economist at the IMF. In this interview, hosted by Andrew Keen, Rajan calls capitalism today an uneven playing field that doesn’t efficiently skill people to meet the needs of the economy. This leads to unequal access to good jobs and growing income inequality. As a result, democracy has at times turned against capitalism. But Rajan reminds us that capitalism works best when there is economic competition, while democracy works best when there is political competition. With this in mind, Keen and Rajan discuss how these two forces can work better together.