




What is the future of capitalism: a democratic American-style model or something closer Chinese state capitalism? This week, Branko Milanovic and I explore that question at length. In the process, we also discuss the political significance of inequality and the compatibility of capitalism and democracy.



Branko is a visiting professor at the City University in New York’s graduate center, and he’s a senior scholar at the Stone Center on Socio-economic Inequality. He’s also the author of several books, including Worlds Apart, Global Inequality, and, most recently, last year’s Capitalism, Alone.



You can also check out the transcript of this podcast here.





Branko Milanovic: The future of capitalism

Tune in each week as James Pethokoukis interviews economists, business leaders, academics and others on the most important and interesting issues of the day. You can find all episodes at AEI, Ricochet, and wherever podcasts are downloaded, and look for follow-up transcripts and blog posts at aei.org.

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When it comes to deploying a new technology, there are no guarantees. While developers and policymakers do their best to minimize risk, innovation always requires a leap of faith. The policy debate around artificial intelligence seems to be a guessing game on all sides. Today, I talk with Bronwyn Howell about how we should be thinking about regulating AI, based on what we know from recent history, and acknowledging AI’s great unpredictability. Howell is a nonresident senior fellow here at AEI. She is also a faculty member of the Wellington School of Business and Government at Victoria University of Wellington in New Zealand and a senior research fellow at the Public Utilities Research Center at the University of Florida. Her research centers on regulation, development, and implementation of new technologies, as well as technology use in the health sector.

Bronwyn Howell: Regulating AI

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Kevin Corinth: The Child Tax Credit

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Karlyn Bowman: American Nostalgia

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Joseph Antos: The State of Medicare

Milton Friedman was one of the most influential economists of the 20th century, right alongside John Maynard Keynes. His work pushed economic thought toward free markets in the 1970s and 1980s. His passionate defense of capitalism and economic freedom had global appeal right through the present day. As such, the closing decades of the 20th century have been termed "The Age of Friedman," yet commentators have sought to hold him responsible for both the rising prosperity and rising inequality of recent times. Jennifer Burns is a professor at Stanford University, where she teaches 20th century American history. Her research focuses on how capitalism and the power of the market have influenced the American Political Economy. Burns' new book is Milton Friedman: The Last Conservative. 

Branko Milanovic: The future of capitalism

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