What Can Be Done with Today’s Capitalism?

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What’s the problem with and what can be done with today’s capitalism

Find out what you can do on a personal level to advocate for the change you want to see in the world on this Queer Money® podcast episode and then kick off your financial independence journey now by getting your free copy of the 7-Step Credit Card Debt Slasher.

If the current system of capitalism isn’t working for most folks, what can be done to fix it?

Last week, we debated the merits of capitalism versus anti-capitalism. And to our surprise, we shared a lot of opinions and beliefs with our anti-capitalist guests regarding the flaws in our existing system. But if the current system of capitalism isn’t working for so many folks, what can be done to fix it?

Hadassah Damien is the economics researcher and financial consultant behind Ride Free Fearless Money and cohost of Bottom Lines Top Dollars, a podcast about money by queer creatives in finance.

On this episode of Queer Money®, Hadassah is back to discuss how we might build a new economic system around the ideas of relationship and responsibility, describing how we might incentivize both social and financial returns. Hadassah explains how a universal basic income would allow more people to do jobs they enjoy and explores economic models in the EU that provide greater autonomy because they take care of basic human needs.

Listen here to find out what can be done with today’s capitalism:

Topics covered about what can be done with today’s capitalism

The MLK quote re: America’s socialism for the rich and rugged individualism for the poor
How Hadassah thinks about people gaming any economic system we might build
Combining the functional elements of capitalism (innovation, autonomy) with a safety net
How we might build a new economic system around indigenous ideas of relationship and responsibility
The argument that the economic system we live in is a perversion of capitalism
What we might do to incentivize both social and financial returns
The concept of a triple bottom line that measures a company’s social and environmental impact as well as its financial returns
How universal basic income would allow more people to do jobs they enjoy
Economic models in the EU provide more autonomy because they take care of basic human needs
Hadassah’s challenge to identify your values, find work you’re interested in and advocate to get paid a living wage for it
The B Corp business model for doing good in the world and making money
How to determine if a new economic experiment is moving in the right direction

“This idea of rugged individualism, it's not that it requires certain people to fail for others to succeed, but it doesn't ensure that everybody succeeds. Inherent in it is failure, which makes it really brutal.” -Hadassah Damien Click To Tweet

Connect with Hadassah

Resources on what can be done with today’s capitalism

Chad Nash on Queer Money® EP005
Crime and Punishment by Fyodor Dostoyevsky
Braiding Sweetgrass by Robin Wall Kimmerer
The Wealth of Nations by Adam Smith
The Theory of Moral Sentiments by Adam Smith
Don’t Pee on My Leg and Tell Me It’s Raining by Judy Sheindlin
CreditWise

Connect with David and John

Get more on today’s capitalism

We’re David and John Auten-Schneider, the Debt Free Guys and hosts of the Queer Money® podcast. We help queer people (and allies) live fabulously not fabulously broke by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs, and 3) save and invest for retirement.

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