The Future of Capitalism

Summary

Paul Collier is a faculty in Economics and presently working in the capacity of Director of Oxford University's Center for the Study of African Economies and also he was previously the Director of the World Bank Development Research. He is the creator of many distinguished books to his credit viz., Wars, Guns and Votes: Democracy in Dangerous Places and also authored the award-winning book, The Bottom Billion.

Wide new rifts are breaking apart Britain's structural framework and other developed nations as well. There is always a tug of war between industrialized cities versus colonies, highly skilled privileged versus less qualified, affluent versus the developing world. As these differences worsen, a good many people have succumbed to others the sense of ethical commitment that was essential to the growth of social emancipation in the comment-war era.

To date, only the revivalist philosophies of nationalism and communism have reacted to these rifts, contributing to Brexit and Trump's seismic outbursts, as well as the rise of the far rights in the developed country like Germany. We have heard a lot of criticism of capitalism, however until now no individual has placed a practical way of fixing it.