Introduction
ippr has published the final report from the Tomorrow's Capitalism programme. How To Make Capitalism Better summarises the findings of Tomorrow’s Capitalism, and explores the future of our financial and economic system. Download the report.
What future for capitalism? The banking crisis and subsequent recession have triggered a flood of speculation among economists on both sides of the Atlantic as to whether the financial system that has dominated global markets over the past twenty years is sustainable in its current form. These concerns need to be viewed in the context of a set of broader questions about the direction of market capitalism, questions that pre-date the recent crisis and which we remain a long way from being able to answer.
In response to these concerns, ippr, in conjunction with Friends Provident Foundation, launched 'Tomorrow's Capitalism', a major programme of work exploring the structure and future of our economic system.
This programme was also made possible by the generous donors to ippr's Next Generation Fund.
Themes
Capitalism in crisis:
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The underlying causes of the current financial crisis
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Options for reform of the financial system
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How capitalism reacts in times of crisis
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The shape of the British economy after the crisis
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Sources of future economic growth.
Capitalism and the international order:
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The global labour market and its impact on wages and consumption
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The shift of power from west to east
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Global inequality
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Global imbalances in trade
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The future shape of international financial institutions
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Increasing international co-ordination.
Living with capitalism:
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The impact of capitalism on well-being, children and family life
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The corrosion of morality under capitalism
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The impacts of increasing production and consumption on the environment
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The wider social and cultural impacts of the current growth model
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The culture of debt.
Capitalism and progressive politics:
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The sharp rise in inequality in the past thirty years
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The perceived failure of the neoliberal model
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The future balance of power between the state, market and citizen
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Attitudes towards capitalism in progressive politics
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The impacts of recession on social justice.
Programme of work
The Tomorrow’s Capitalism programme consisted of:
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high profile debates on each of the major themes.
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policy-focused seminars.
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commissioned papers and articles.
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podcasts available online
Tomorrow’s Capitalism featured high level speakers from the world of economics, business, politics, policymaking and journalism. Those taking part included Vince Cable MP, Liberal Democrat Treasury spokesperson; Chris Giles, Economics Editor of the Financial Times; Will Hutton, Chair of The Work Foundation; Professor Robert Schiller, Yale University; Dr Diane Coyle, member of the Competition Commission; Anatole Kaletsky, columnist for The Times; Treasury Select Committee Chair John McFall; Madeleine Bunting, Guardian columnist; Zac Goldsmith, former editor of The Ecologist; Larry Elliot, Economics Editor of the Guardian; Bill Emmott, former editor of The Economist.