Capitalism's triple crisis

The Covid-19 crisis is exposing still more flaws in our economic structures, not least the increasing precarity of work, owing to the rise of the gig economy and a decades-long deterioration of workers’ bargaining power.

Global Economy


SINGAPORE (Nov 11): “The system of making capitalism work well for most people is broken.” — Ray Dalio, founder of hedge fund Bridgewater Associates

Capital markets

Corporate bosses soften shareholder value focus amid calls for accountable capitalism

SINGAPORE (Sept 9): Jamie Dimon, chairman and CEO of JPMorgan Chase, found himself in a difficult position during a hearing with the US House Financial Services Committee in April. Freshman Representative Katie Porter told him that a single mother who liv

US-China trade war

Is Trump's trade war with China a civilisational conflict?

SINGAPORE (May 20): Late last month, at a security forum in Washington, DC, Kiron Skinner, director of policy planning for the US Department of State, described today’s US-China conflict as “a fight with a really different civilisation and a different


Why capitalism needs populism

SINGAPORE (May 13): Big Business is under attack in the US. cancelled its planned new headquarters in the New York City borough of Queens in the face of strong local opposition. Lindsey Graham, a Republican US senator for South Carolina, has ra

In print this week

Billionaires under fire confront wealth gap at Milken Conference

SINGAPORE (May 6): In Beverly Hills, the chicken Caesar salad costs US$25.95 ($35.35). Stephen Schwarzman, with a net worth of US$14.3 billion, could buy one for all 329 million people in the US today — and then do so again tomorrow for 222 million of t


How to design a new model for capitalism

(May 6): The flames that tore through the famed Notre Dame cathedral in Paris not only exposed how vulnerable historic icons are to fire, it also revealed how the jarring divide between rich and poor threatens to bring down the system of capitalism. The o