Is capitalism actually broken?
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So what would it actually look like to toggle the dials of capitalism to create a system that works for humans while also protecting the planet?
According to World Economic Forum founder Klaus Schwab, free-market fundamentalism has eroded worker rights and economic security. Schwab proposes Stakeholder Capitalism that aims to rethink free markets, fiscal austerity, and financial deregulation in order to create growth while improving the planet.
Some thinkers and economists are starting to imagine an economic system beyond net-zero, towards one that has a net-positive impact on the planet. Sound up your ally? Check out this article on regenerative` capitalism. You'll learn a bit about why and how companies and governments can combat the climate crisis. The author digs into some examples, such as urban development and architecture planning.
Curious about how inflation factors into all of this? Chief economist, Paul Donovan, traces some of the recent histories of inflation, and the causes of the current global surge in prices and digs into whether or not this is a blip or here to stay, and what countries might do about it.
Global Risks Report
A divergent economic recovery from the crisis created by the pandemic risks deepening global divisions at a time when societies and the international community urgently need to collaborate to check COVID-19, heal its scars, and address compounding global risks.
To learn more about these risks, and possible strategies for solving them, check out World Economic Forum's Global Risks Report 2022.
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