‘Outdated and unjust’: can we reform global capitalism?
Jun 23, 2025•34 min
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Summary
The episode delves into the current crisis facing global capitalism, triggered partly by Trump's trade policies but stemming from deeper issues of legitimacy and inequality. It examines historical precedents for capitalism's crises and explores diverse critiques, including conservative concerns about globalization and financialization, and leftist ideas like degrowth and calls for a new managed or 'shrunk' form of capitalism. The discussion covers policy proposals, alternative economic models, and the political forces shaping the debate, considering whether reform is possible despite significant opposition.Episode description
President Trump’s tariffs have plunged the world economy into chaos. But history counsels against despair – and the left should seize on capitalism’s crisis of legitimacy By John Cassidy. Read by Chris Reilly. Help support our independent journalism at theguardian.com/longreadpod
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