The Economics of Uncertainty: The Crisis of Capitalist Democracy by Chicago Council on Global Affairs
Capitalist democracy is under stress. The European Union is engulfed in a sovereign debt crisis that threatens its very existence, while the United States is facing its own potentially devastating public finance crunch. On both sides of the Atlantic, the institutions of democracy are gridlocked, and viable long term policy solutions are lacking. The crisis has exposed the inner tensions of capitalism and its tenuous relationship with western democracy. What is the appropriate institutional architecture to manage capitalist democracy? What role should the different branches of government, businesses, and central banks play? Join Judge Richard A. Posner for a conversation on the lessons to be learned from the current situation and the reforms needed to prevent another depression.