Economist pinpoints why capitalism doesn't work | Ruchir Sharma interview

In this incisive and thought-provoking interview, global investor and author Ruchir Sharma joins us to unpack the core arguments from his latest book, What Went Wrong With Capitalism. Drawing on decades of experience in global markets and political analysis, Sharma offers a sweeping critique of how modern capitalism has strayed from its original purpose — and why it's no longer delivering for the many.

From runaway government spending and central bank intervention, to the rise of monopolies and the collapse of healthy competition, Sharma paints a picture of a system that’s been distorted by both left and right-wing governments. He explains how the free market ideal has been hollowed out and replaced by what he calls “state-driven capitalism,” where power is concentrated in the hands of governments and corporate elites.

The conversation explores why economic dynamism has stalled, why inequality has soared, and why younger generations are disillusioned with the status quo. Sharma also discusses the political consequences of this breakdown — from populist uprisings to the erosion of trust in global institutions.

Whether you're a policymaker, investor, student, or simply curious about the future of the economy, this interview offers deep insight into how capitalism went wrong — and where it might go next.

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