Capitalism is in crisis. Inequality is rising and climate change means we need to make drastic changes to the way we do business. The COVID-19 pandemic, too, has exposed numerous flaws in our current systems.  

But is capitalism dead, or can we re-imagine it in a way that will keep society prosperous, promote social justice and re-green our planet? 

As calls for radical change grow, French economist Philippe Aghion believes that we don’t need to throw the baby out with the bath water. He argues it’s possible to create a better capitalism by harnessing the power of creative destruction – the process by which new innovations continually emerge and render existing technologies obsolete. 

Listen to Philippe Aghion in conversation with UNSW economist Richard Holden as they discuss how the transformation of capitalism can achieve a more sustainable and inclusive prosperity, and how this might impact on politics and democracy.

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