"When you're at a dead end, you have to turn around—not speed up."
Economic growth, technological progress, and globalized financial markets have long been considered signs of progress. But what if these very principles have led us into crisis? Perhaps capitalism, at least in its current form, is coming to an end. Because if you look closely, you'll see that the warning lights on climate policy and social inequality have been flashing red for a long time.
"We don't need more cars, more weapons, more growth. We need responsibility."
Economist Prof. Dr. Marc Chesney knows the financial system from the inside. He taught for many years in the US and Switzerland – and today openly criticizes the power of banks, hedge funds, and large investors. For him, it is clear that capitalism as we know it not only produces the super-rich, but also endangers our social cohesion, our environment, and peace through a global financial casino. In conversation with Georgiy Michailov, Chesney explains why the super-rich should no longer fly private jets, why Europe is democratically weaker than it thinks, and what happens when citizens withdraw.
*Video only in German
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