Third lecture in the Professor Sir David Greenaway Lecture Series

Last week Martin Wolf – Chief Economics Commentator at the Financial Times – presented a forceful argument on ‘The crisis of democratic capitalism’ as the third Sir David Greenaway public lecture.

He wove a story from Aristotle and Plato – the genesis of democracy – through to the development of modern capitalist societies, right up to the present day and, in his view, the worrying re-emergence of populism. Equating it to a modern form of plutocracy, he explained how right-wing actors have exploited middle class fears of downward mobility and status anxiety, at a time of rising inequality and stagnant incomes. And, whilst this ‘democratic depression’ is some 40 years in the making, it has been exacerbated since the 2008 financial crash. His warning was stark: unless we reverse the trends we are seeing, democratic capitalism – which relies on a separation of power from wealth – is in serious peril.

And now for the good news...

If you missed this public lecture, you can still view Martin's speech and slides in their entirety:

• Crisis of Democratic Capitalism Speech (PDF)
• Martin Wolf slides (PDF)