'Is this capitalism anymore?'

A view of Times Square in New York City in July 2024

A view of Times Square in New York City, considered one of the symbols of American capitalism

(Image credit: Jakub Porzycki / NurPhoto via Getty Images)

published 18 July 2024

'Why we can't give up on capitalism'

Ruchir Sharma at CNN

Capitalism has "broadly worked for America for much of its economic history," but recently that capitalism "seems to have not been working for the average worker," says Ruchir Sharma. It has "reached a point where it’s safe to ask" if modern capitalism is a "very different economic system." An "essential part of capitalism is for people to take risk and know that there are adverse consequences of taking such risk."

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Justin Klawans has worked as a staff writer at The Week since 2022. He began his career covering local news before joining Newsweek as a breaking news reporter, where he wrote about politics, national and global affairs, business, crime, sports, film, television and other news. Justin has also freelanced for outlets including Collider and United Press International.