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The Good Fight

Martin Wolf on the Crisis of Democratic Capitalism

The Good Fight

Yascha Mounk

News

4.6907 Ratings

🗓️ 25 March 2023

⏱️ 53 minutes

🧾️ Download transcript

Summary

Martin Wolf is the chief economics commentator for the Financial Times. He is the author of The Crisis of Democratic Capitalism. In this week’s conversation, Yascha Mounk and Martin Wolf discuss the symbiotic relationship between democracy and capitalism; the reasons for the crisis of democratic capitalism; and the dire consequences should it fail. This transcript has been condensed and lightly edited for clarity. Please do listen and spread the word about The Good Fight. If you have not yet signed up for our podcast, please do so now by following this link on your phone. Email: [email protected] Website: http://www.persuasion.community Podcast production by John Taylor Williams, and Brendan Ruberry Connect with us! Spotify | Apple | Google Twitter: @Yascha_Mounk & @joinpersuasion Youtube: Yascha Mounk LinkedIn: Persuasion Community Learn more about your ad choices. Visit megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Our parties do not represent the economic interests at the bottom 50% of our population very well.

0:08.5

They represent their cultural and social interests on the right and the left they represent a bit their economic interests in a welfare stake

0:18.6

sort of framework but they don't really have anything that says, here you are people without university degrees,

0:25.7

you have a bright and blossoming burgeoning future in our society and our economy as it's developing because the truth is they don't.

0:35.7

And now the good fight with Yasha Monk.

0:40.1

There has been strong reason to worry about democracy in India for a number of years now.

0:49.7

The restrictions on free speech in the country kept getting stricter. Attacks on Muslim minorities

0:59.6

became more violent. The concentration of power in the hands of Nurembra-Modi's

1:08.8

government kept advancing at a fast pace.

1:15.0

But the last three days have accelerated these developments significantly.

1:22.0

Raul Gandhi, the flawed and imperfect, sometimes uninspiring and uninspired

1:31.0

leader of the main opposition party. The in Naur under Modi's state of Gujarat of defaming the Prime Minister.

1:47.7

He has been given a two-year jail sentence, which he is not yet serving and a supposedly neutral bureaucrat

1:57.4

quickly moved to expel Gandhi from his seat in Parliament.

2:05.0

A rooting government jailing the main opposition leader, especially on as spurious a charge as

2:20.4

libel is a classic tactic for consolidating power.

2:30.5

And it is a very worrying sign of where India is headed.

2:37.0

I have two additional observations about these developments in India. The first is that it reminds us of the

2:49.2

dangers of restrictions on free speech that can be abused by authoritarian populists once they reach power.

3:02.0

It is perfectly appropriate to have some form of liable law, but those have to be narrow with

3:08.8

an obligation on the person suing to establish the recklessness of the person who made

3:16.3

force claims about them. It certainly shouldn't be as loose as it is in India or in

...

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