Ever since the financial crisis of 2007-08, there has been hostility towards corporations. Why?
The main reason that corporations face hostility is that people have convinced themselves that capitalism isn’t working. The puzzle, in a way, is that the great successes of market-based capitalism, have been greeted with great unhappiness because of some outcomes. And that’s the central conundrum. I’m not trying to suggest that everything is great. All I am saying is that the notion that everything is going to hell is not true. There are areas where we aren’t doing well — particularly the risk of environmental catastrophes, the stagnation of median wages in developed countries, and nuclear proliferation. But in economic terms, there is a lot to be proud of — just think of the people lifted out of poverty in the last three decades. Moreover, I’m more worried about the kinds of…
