Mordecai Kurz for PS Longer Reads: How Capitalism Became a Threat to Democracy

Don't miss a new PS Big Picture featuring Kristalina Georgieva, Yanis Varoufakis, Odile Renaud-Basso, and more [View this message in a web browser]( [PS On Point]( MARCH 15, 2024 Though we lack precise statics on the matter, it is safe to say that rising market power, automation, and globalization have degraded the lives of tens of millions of Americans. Those harmed view their plight as a profound injustice and have also lost faith in the political system that betrayed them, writes Mordecai Kurz, Emeritus Professor of Economics at Stanford University. [Read more]( [PS Introductory Offer. Save 30% on your first year.]( [PS Longer Reads: How Capitalism Became a Threat to Democracy]( [How Capitalism Became a Threat to Democracy]( By Mordecai Kurz Since the 1980s, American capitalism has been transformed into a winner-takes-all economy in which one or a few technologically dominant firms monopolize each sector at the expense of consumers, workers, and overall growth. And with permanent market power comes the kind of political power that is antithetical to democracy. [Read more]( [PS Big Picture: The Global Economy’s Biggest Untapped Resource]( [The Global Economy’s Biggest Untapped Resource]( with Kristalina Georgieva, Odile Renaud-Basso, Yanis Varoufakis, and more At the current rate of progress, it will take about 300 years to end child marriage, 286 years to deliver full gender equality under the law, and 140 years to achieve equal representation in leadership positions in the workplace, the United Nations reports. This moral failure is compounded by its enormous opportunity cost: a massive improvement in human welfare. [Read more]( [PS Longer Reads: Will Today's Tech Wave Drown Developing Countries?]( [Will Today's Tech Wave Drown Developing Countries?]( By Xiaolan Fu Even if AI and other innovations seem likely to fuel unemployment and deepen income inequality, no country can simply reject them outright. Instead, policymakers must navigate the complexities of various technologies' "appropriateness" to their own economies and development strategies. [Read more]( [PS. Sign up now for our monthly She Writes newsletter.]( [Facebook]( [Twitter]( [LinkedIn]( Project Syndicate publishes and provides, on a not-for-profit basis, original commentary by the world's leading thinkers to more than 500 media outlets in over 150 countries. Receipt of this newsletter does not guarantee rights to re-publish any of its content. This newsletter is a service of [Project Syndicate](. [Change your newsletter preferences](. Follow us on [Facebook]( [Twitter]( and [YouTube](. © Project Syndicate, all rights reserved. [Unsubscribe from all newsletters](.