We here at Business Insider thought it was time to talk about the future of capitalism.
Seems we weren’t the only ones.
When California Gov. Gavin Newsom announced late last week that he would show up at Davos essentially to rebut whatever President Donald Trump plans to say, he specifically zoned in on, what else? Capitalism.
At Davos, the Democratic governor plans to “draw a clear line between democratic capitalism and crony capitalism,” according to his office. Newsom will “contrast California’s rules-based, competitive economic model with Trump’s politics of intimidation, favoritism, and self-dealing.”
In short, Newsom wants to articulate his own version of capitalism on the global stage.
That, coupled with Trump’s Wednesday speech, which is expected to touch on affordability, shows just how hot the topic is.
You might recall that last month we put out a survey seeking your thoughts on the future of capitalism. And in the new year, we started a series on the subject. The first piece detailed the federal government’s investments in private-sector companies under this White House. Newsom’s office called those investments “an unprecedented assault on free markets” and took issue with other Trump moves.
The White House did not immediately respond to a request for comment about Newsom’s statements. A White House official earlier told Business Insider they viewed these equity stakes “as a very powerful tool that we’re using very judiciously in very specific sectors for very specific reasons,” for purposes of US economic and national security.
We will stay all over this subject at Davos this week. (Subscribe to our special Davos newsletter here.) Meanwhile, our capitalism series has chronicled how America’s high schools are teaching capitalism. See for yourself how you’d score on this 12th-grade capitalism quiz!
The next piece, slated for Monday, is on the capitalist spirit thriving in companies. Stay with us!
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