An idea derailed!

In 'What Went Wrong With Capitalism': Ruchir Sharma contends that modern capitalism's failures arise from coinciding government interventions, resulting in 'socialised risk' across all classes; he proposes seven reforms to restore the balance between state support and free markets. Excerpts:

- Ruchir Sharma

Today, the economic leaders of the capitalist world are like the doctor who was trained to spot one affliction and ended up blind to all the others. Since the threat of consumer price inflation had nearly vanished in recent decades, many politicians and government officials came to think that central banks can continue pumping easy money into the economy without regrettable consequences. In the United States, one of the precious few things progressive Democrats and Trump Republicans shared was a fondness for easy money as a way to fund their spending agendas. Never mind that easy money feeds other, equally crippling infirmities.