ProMarket: Why Martin Wolf Changed His Mind on Milton Friedman

ProMarket, the sister publication of Capitalisn't at Chicago Booth's Stigler Center, has been hosting thought leadership on political economy, competition, antitrust, special interests, and more since 2016. To follow up on the discussions on the podcast, we are launching an occasional additional segment where listeners can further explore the show's conversations in ProMarket. For our first segment, Bethany and Luigi talk to Brooke Fox, Managing Editor at ProMarket. They discuss Martin Wolf's 2020 article in ProMarket, where he draws a direct line between economist Milton Friedman's advocacy for unfettered markets and the erosion of democratic institutions. In it, he calls for rethinking the prevailing economic ideology to safeguard democratic values -- an idea he further develops in his recent book, “The Crisis of Democratic Capitalism.” Luigi, Bethany, and Brooke also discuss the intersection of Friedman's ideas with George Stigler's, and the role of corporations in society today.

Om Podcasten

Is capitalism the engine of destruction or the engine of prosperity? On this podcast we talk about the ways capitalism is—or more often isn’t—working in our world today. Hosted by Vanity Fair contributing editor, Bethany McLean and world renowned economics professor Luigi Zingales, we explain how capitalism can go wrong, and what we can do to fix it. Cover photo attributions: https://www.chicagobooth.edu/research/stigler/about/capitalisnt. If you would like to send us feedback, suggestions for guests we should bring on, or connect with Bethany and Luigi, please email: contact at capitalisnt dot com. If you like our show, we'd greatly appreciate you giving us a rating or a review. It helps other listeners find us too.