[…] Economies are not delivering for most citizens because of weak competition, feeble productivity growth and tax loopholes […] We need a dynamic capitalist economy that gives everybody a justified belief that they can share in the benefits. What we increasingly seem to have instead is an unstable rentier capitalism, weakened competition, feeble productivity growth, high inequality and, not coincidentally, an increasingly degraded democracy. Fixing this is a challenge for us all, but especially for those who run the world’s most important businesses. The way our economic and political systems work must change, or they will perish. […]

ft.com Martin Wolf: why rigged capitalism is damaging liberal democracy