Since its origins, democracy has been a work in progress. Today, many question its resilience. The Bertelsmann Foundation and Humanity in Action have teamed up with Andrew Keen, author of How to Fix the Future, to launch How to Fix Democracy: a video and podcast series exploring practical responses to the threats facing democracies around the world. Host Andrew Keen interviews prominent thinkers, writers, politicians, technologists, and business leaders who enlighten and challenge us as we seek the answers to How to Fix Democracy.
Host Andrew Keen joins Raghuram Rajan, Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business, for the second episode of Season 2.
Raghuram Rajan was the 23rd Governor of the Reserve Bank of India and the Chief Economist at the IMF. In this interview, hosted by Andrew Keen, Rajan calls capitalism today an uneven playing field that doesn’t efficiently skill people to meet the needs of the economy. This leads to unequal access to good jobs and growing income inequality. As a result, democracy has at times turned against capitalism. But Rajan reminds us that capitalism works best when there is economic competition, while democracy works best when there is political competition. With this in mind, Keen and Rajan discuss how these two forces can work better together.