Rethinking Capitalism (ReCap) Webinar Series
Capitalism is in a human, political, social, and environmental crisis. The Rethinking Capitalism (ReCap) Webinar Series is an opportunity to reflect on the failures of our cultural and production model. The objective of these talks is to foster awareness, cooperation, and activism among academics and guide policymakers in implementing corrective policies. The ReCap Webinar Series is jointly organized by RCEA-Europe ETS and CefES-DEMS, under the auspices of the JRC (European Commission). Participation in the webinar series is free through zoom. Information on the webinar series can be found at: https://www.rcea.world/events/forthco...

Today's webinar is entitled "How can Democracy Survive Capitalism?" by Prof Robert Reich (University of California - Berkely).

In today's America, the status quo is getting unsustainable: anger, upset, frustration, and outrage are rising. The working class is vulnerable to authoritarianism, racism, and xenophobia more than ever. Power is the key to decrypting and understanding the current economic, political, and social system. Power and wealth have become the same: great wealth flows from great power; great power depends on great wealth. And power is the capacity to set the public agenda and influence legislators. And power is exercised through institutions. Today the great political divide is between oligarchy and democracy. Over the last forty years, a treble institutional shift has led to this divide: the change from stakeholder to shareholder capitalism, the weakening in antitrust regulation and the associated shift in power from labor unions to corporate monopolies, and financial deregulation. Understanding the system and active citizenship are the necessary steps towards economic, political, and societal healing to revitalize democracy and restore a more just and fairer society.