The Decline of the “Anglo-Saxon” System of Capitalism

The United States, Great Britain, Canada, and Australia appear to be in gradual economic decline. What is happening and why? At first glance, their economies may seem to have little in common. But they share an important trait: All operate with similar economic playbooks—a system that scholars have called “Anglo-Saxon” capitalism, which prioritizes market liberalization, minimizes government intervention, and holds all legal economic activities equal, whether that be producing high-tech goods or basic consumer products. This system, championed in the 1980s, initially delivered strong economic outcomes. But in recent years it has proved to be ill-suited to a world now powered by innovation in IT and other advanced industries. The nations on the rise are China and others operating with playbooks resembling “Listian” developmental capitalism, which focuses on gaining global market share in advanced industries. What can Anglo-Saxon economies learn from the newly dominant economic development model?

Please join ITIF for a virtual panel with international experts who will discuss why nations operating by the Anglo-Saxon economic playbook must abandon their reliance on purely market-driven capitalism, how they can reverse their recent decline to avoid further stagnation, and what alternative systems policymakers should embrace to meet the demands of a modern, technology-driven global economy.

Questions for the speakers? Ask on Slido.