On August 27 (Tuesday), Prof. Dr. Giacomo Corneo (Professor of Public Finance and Social Policy at the Free University of Berlin) will give a talk entitled “Is Capitalism Obsolete?” This event is supported by the Center for Positive/Empirical Analysis of Political Economy, Top Global University Project at Waseda University. For further information about this seminar, please contact Prof. Dr. Kazumi Shimizu ([email protected]). We look forward to your participation.
Date: August 27 (Tue), 2019 from 15:45-18:00
Venue: Discussion Room on the 12th floor, the 3rd Building, Waseda Campus
Participants: Open to all students, faculty members, and the general public
Registration: No registration required
Contact information: Prof. Dr. Kazumi Shimizu, [email protected]
Speaker: Prof. Dr. Giacomo Corneo (Professor of Public Finance and Social Policy at the Free University of Berlin)
Abstract: The increase of income and wealth concentration defies the view of capitalism defended by classical liberalism and reveals the inability of the social-democratic paradigm to meet the challenges posed by a globalized and digitalized economy. Therefore, an analytical journey through outstanding blueprints of alternative economic systems – from common ownership systems to universal basic income and market socialism – is in order. At the end of this journey, I advocate a concrete evolutionary program that aims at substantially enhancing the role of the public ownership of capital within our market economy. I propose a strategy to build public capital at a negligible cost to the citizenry and design two institutions that credibly promise to manage such public capital in a democratically legitimate and efficient way: an ethical sovereign wealth fund and the Federal Shareholder.