How to fix Capitalism? - Dr Gillian Tett OBE

The UK's leading forum for international politics and global issues, founded in 1980. How to fix Capitalism? - Dr Gillian Tett OBE Gillian Tett puts forth several ideas on reforming capitalism, especially in light of contemporary challenges like climate change and social inequality. Her arguments emphasize a need for transformation within the system rather than a complete overhaul. Fundamental Areas for Reform Conscious Capitalism: Tett advocates for a shift towards conscious capitalism, where businesses actively consider their social and environmental impact. This approach reflects a growing belief that companies must address pressing issues such as climate change and income inequality. Re-evaluation of Economic Models: She criticizes traditional economic models for ignoring externalities like environmental degradation. By integrating these factors into business valuations, companies can develop a more ethical framework for decision-making. Monopoly Power and Transparency: Tett highlights the problem of monopoly power, particularly in the tech sector, advocating for greater transparency and competition. She argues that allowing consumers to control their own data could lead to a healthier market. Reassessing Growth: While Tett supports the concept of green growth, she also discusses the potential benefits of green de-growth, suggesting that some industries may need to reduce their output to achieve sustainability. Gillian Tett is an eminent author and journalist, and has been Provost of King's College, Cambridge since 2023. She has a PhD in Social Anthropology from the University of Cambridge, based on research conducted in the former Soviet Union in the early 1990s. Her outstanding journalistic work covers a range of economic, financial, political and social issues. She was previously Chair of the US Editorial Board and America Editor-at-Large at the Financial Times. Alongside her role as Provost, she continues to write a weekly column and is a member of the editorial board for the FT. Her work covering the Global Financial Crisis of 2007-2008 received extensive media attention for its prescient coverage of the financial instruments that led to the crisis. Gillian has received many awards in recognition of her work, including Columnist of the Year (2014), Journalist of the Year (2009) and Financial Journalist of the Year (2008) at the British Press Awards; the British Academy President's Medal (2011); and the American Anthropological Association President's Medal (2022). She was appointed OBE in the 2024 New Year's Honours for services to economic journalism. Previously, she chaired the FT editorial board, ran Moral Money, the FT's sustainability newsletter which she co-founded, and wrote two columns a week. Gillian's earlier roles included US managing editor for the FT; assistant editor; capital markets editor; deputy editor of the Lex column; Tokyo bureau chief; reporter in Russia and Brussels.