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Episode 109: What Went Wrong with Capitalism by Ruchir Sharma - Deep Dive Book Review
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Today, we review Ruchir Sharma's What Went Wrong with Capitalism, which examines the detrimental effects of excessive government intervention and debt addiction on capitalist economies since the Reagan era. Sharma argues that while initially intended to stimulate growth, policies like easy money and bailouts have created distortions, inflated asset prices, and fostered unproductive "zombie" companies, ultimately hindering productivity and exacerbating inequality. The book contrasts this with the success of countries like Switzerland and Taiwan, which achieved prosperity with significantly less government involvement. Sharma concludes by suggesting a path toward balanced government spending, reduced reliance on bailouts, and a renewed focus on productivity as crucial steps to revitalize capitalism.
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