Fixing Capitalism Means Taking Power Back From Business
Illustration by O.O.P.S. for TIME
Newt Gingrich’s latest attack on fellow Republican presidential candidate Mitt Romney’s leadership of a private-equity firm goes to the heart of today’s biggest debate in politics and economics. “If we identify capitalism with rich guys looting companies, we’re going to have a very hard time protecting it,” he said. Protecting—or, more particularly, fixing—capitalism will be a big topic at the World Economic Forum in Davos this month. With the global economy still sputtering and governments unable to successfully address big issues like income inequality, unemployment and growing debt, it’s a subject that’s front and center not only in the U.S. but also throughout Europe, Asia and the rest of the world.