What Went Wrong with Capitalism Audiobook By Ruchir Sharma cover art

What Went Wrong with Capitalism

 Preview

Get 30 days of Standard free

Auto-renews at $8.99/mo after 30-day trial. Cancel anytime
Try for $0.00
More purchase options
Buy for $19.49

Buy for $19.49

Named a Best Book of 2024 by The Wall Street Journal and Financial Times

An “eye-opening” (The New York Times), “absolutely fascinating” (Fareed Zakaria, CNN host and commentator) look at a how a century of expanding government has distorted financial markets, stoked massive inequality, and soaked America in debt.

Capitalism didn’t fail, it was ruined…

What went wrong with capitalism? Ruchir Sharma’s account is not like any you will have heard before. He says progressives are right, in part, when they mock modern capitalism as “socialism for the rich.” For a century, governments have expanded in just about every measurable dimension, from spending to regulation and the scale of financial rescues when the economy wobbles. The result is expensive state guarantees for everyone—bailouts for the rich, entitlements for the middle class, welfare for the poor.

Taking you back to the 19th century, Sharma shows how completely the reflexes of government have changed: from hands-off to hands-on, from doing too little to help anyone in hard times to today trying to prevent anyone suffering any economic pain, ever. Trading sins of omission and indifference for excesses of spending and meddling, governments from the United States to Europe and Japan have pumped so much money into their economies that financial markets can no longer invest all that capital efficiently.

Inadvertently, they have fueled the rise of monopolies, “zombie” firms, and billionaires. They have made capitalism less fair and less efficient, which is slowing economic growth and fueling popular anger. The first step to a cure is a correct diagnosis of the problem. Capitalism has been badly distorted by constant government intervention and the relentless spread of a bailout culture. Building an even bigger state will only double down on what ruined capitalism in the first place.

What Went Wrong with Capitalism is a “superbly written” (The Wall Street Journal), “fresh and accessible” (Robert Rubin, former Secretary of the Treasury and chairman of Citigroup) look at the issues confronting our capitalistic society and will ultimately reshape how you think about world. Politics & Government Economic Inequality Ideologies & Doctrines US Economy Capitalism Economic History Economic disparity Economics Government Banks & Banking Democracy Taxation Banking Commodities Investing & Trading Socialism
All stars
Most relevant
The author is apolitical and favors pragmatic solutions with a balanced approach. His objectivity coupled with historical observations provides a compelling path our nation must achieve in order to survive. He’s not supporting extreme; rather he believes government must respond to needy citizens but not via bloviated governments that destroy competition and innovation. His is a healthy vision that we can only hope guides our nation’s leaders. We are at a critical juncture- Sharma has a balanced vision we need to respect and apply.

Great synthesis for those who are interested in economics

Something went wrong. Please try again in a few minutes.
Scary facts but good to understand where we are headed and where we should be going.

Dealing with the truth

Something went wrong. Please try again in a few minutes.
There is nothing new here, but it’s good that someone wrote it up for those who haven’t figured it out. It is a very old well known story. However, he misses the primary culprit for not only the reason why the US and other advanced nations are going in their direction but also why they are generating low productivity growth. Why do people want more government, why do people want to take longer vacations and live off lattes, why do they no longer wish to save? Why is the US the US, Bolivia is Bolivia, and Japan is Japan. He should get out of his cloistered world, get at the core problem, and write another book. He’s a bright guy; I am sure he can figure it out.

What Most People Have Known for Years

Something went wrong. Please try again in a few minutes.
This is a good book that gives an unbiased view on how our leaders continue to botch managing capitalism

Great take

Something went wrong. Please try again in a few minutes.
The book has a long review of history of the economic progress and policies in the USA. The particular thesis that capitalism has not panned out has been a result of the policies. The policies were designed from a short term view of politicians rather than a long term view of the economic progress.

Good points from the economic history of USA

Something went wrong. Please try again in a few minutes.
See more reviews