The 2020 presidential campaign is now underway. The big issue shaping up for the American people seems to be “capitalism.”
Do we want to keep “it” or should we go for “socialism?”
What is our capitalism anyway? Certainly not what it once was in the age of steam power now that we are in the age of the internet with Hydra-headed AI heading our way to revolutionize our lives yet again.
Heraclitus had a point: “Things always change. You can’t step into the same stream twice.”
Yet, some things about capitalism seem to be the same: the rich have it better than the poor and those with assets get more assets. Those with capital do better than those who only bring labor to the economy. A few companies still dominate market segments. The middle class does not have enough savings for retirement. Those dissatisfied call on the state to make things right.
The share of our economy which is finance has grown as never before in history. Returns to liquidity outpace wage increases. It was unbalanced financialism which brought on the collapse of credit markets in 2008. Companies set their courses to influence stock markets which have attention deficit disorder. Is this wise?
Please join us and John Taft, Vice Chairman of Baird, for a round table discussion on financialism at 9:00 am on Friday, May 24th at the Minneapolis Club.
John has been Chairman of the Securities Industry and Financial Markets Association. He’s also the author of two well-received books on finance, Stewardship: Lessons Learned from the Lost Culture of Wall Street and A Force for Good: How Enlightened Finance Can Restore Faith in Capitalism. He is the great grandson of U.S. President William Howard Taft.
Registration and a light breakfast will begin at 8:30 am and the event at 9:00 am.
Cost to attend is $15 for Business and Public Policy Round Table members and $35 for non-members. Payment will be accepted at the door.
Space is limited.
To register, please email Jed at firstname.lastname@example.org or call (651) 223-2863.
The Minneapolis Club is located at 729 2nd Ave South in downtown Minneapolis.
Parking will be available in the Club’s parking ramp. The entrance to the ramp is on 8th Street.
The event will conclude at 11:00 am.