Davos panelists debate capitalism’s merits

As part of the World Economic Forum’s annual meeting in Davos, a panel of financial experts and business leaders met to debate the merits of capitalism. The full debate can be viewed on the website of Time magazine, which moderated the debate.

While the discussion ran more than one hour, Reuters’ Andy McCarthy says it did little to actually address the fundamental question of which parts of capitalism are socially useful.

“The focus of the panel wasn’t quite ‘Is 20th century capitalism failing 21st century society?’ Instead, it was most certainly about non-specific change at the margins. [Economist Raghuram] Rajan called for better worker training, [General secretary of the International Trade Union Confederation Sharran] Burrows wants corporations to invest a portion of their income into job creation and a VC audience member bemoaned the U.S. immigration policy and a lack of skilled workers,” writes McCarthy on his blog.

The Wall Street Journal covered the panel as an example of “Capitalism on trial,” while Agence France Presse characterized the panel as the “Davos elites” confronting the crisis of capitalism.

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