Conversations That Matter

Ep 417 - A New Spirit of Capitalism Guest: Drew Erdmann By Stuart McNish   “Even before the Global Financial Crisis of 2008-09, the excesses of unchecked capitalism were manifest – what once seemed like a virtuous drive to maximise returns on investment for everyone came to seem like a race to the bottom. The wealthy got increasingly wealthy, workers’ wages stagnated, the environment suffered, and parts of many countries were left behind,” states a new book published by the Trilateral Commission, “A New Spirit of Capitalism.”   It is clearly time for a reset. The book’s authors go on to say, “The problems got harder to ignore once the first bubble popped.” And then came COVID-19 – a pandemic “which exposed weaknesses in globalisation’s relentless pursuit of low cost production; the crisis highlighted instead the value of supply chain security and resilience, and a collaboration between state and business,” emphasises co-author Drew Erdmann.   Erdmann goes on to point out, “Russia’s invasion of Ukraine demonst