After years of ill health, European capitalism is now in a critical condition. Growth has given way to stagnation; inequality is leading to instability; and confidence in the money economy has all but evaporated. In How Will Capitalism End?, Wolfgang Streeck argues that the world is about to change. The marriage between democracy and capitalism, ill-suited partners brought together in the shadow of World War Two, is coming to an end. The regulatory institutions that once restrained the financial sector’s excesses are collapsing, threatening democratic politics and institutions. The EU remains the only political agency capable of rolling back the liberalization of the markets, but trust in European institutions is faltering. Streeck raises important questions about how we should respond to declining growth, oligarchic rule, a shrinking public sphere, institutional corruption and international anarchy.
Wolfgang Streeck is Director Emeritus at the Max Planck Institute for the Study of Societies in Cologne. He is a member of the Berlin Brandenburg Academy of Sciences and a Corresponding Fellow of the British Academy.
Moderated by Cornel Ban, Assistant Professor of International Relations and Co-Director of the Global Economic Governance Initiative at Boston University and author of Ruling Ideas: How Global Neoliberalism Goes Local.
This event takes place as part of a new initiative entitled "Interferences," a series of events on issues pertinent to democratic politics in the US and Europe. Organized as part of EU Futures, a series of conversations exploring the emerging future in Europe. The EU Futures project is supported by a Getting to Know Europe Grant from the European Commission Delegation in Washington, DC.