How has the American economy evolved over time and is our unique brand of capitalism still the envy of the world? Well, we are still one of the richest countries in the world, with the largest economy and some of the most dynamic, innovative companies, but there have certainly been growing pains - extreme inequality, waning upward mobility, and decreasing competitiveness. So how did we get here and what lessons can be learned from our past? Zachary Karabell has some thoughts. Author, commentator, investor and all-around renaissance man, Karabell tells the story of money and power in the United States, using Brown Brothers Harriman, the oldest private bank in America, as his lens and narrative arc. Present at the creation of the post-World War II international system, BBH’s fingerprints can be found on many of the major economic developments of the 20th century. Karabell also acknowledges a particular model of capitalism that BBH came to define and inhabit that he believes to be a more constructive version than the current publicly traded shareholder variant, where gains are privatized and losses socialized. Conversely, BBH’s model in 1800 and today is that of a private partnership - the risk is theirs and so are the rewards. At its core, this is a story of capitalism and how its evolution shaped America. We can think of no better moderator to lead this sweeping conversation than historian and TCG Honorary board member, Douglas Brinkley. Zach and Doug will explore the history of American power and capitalism, offering, if not a lesson, an example of a more responsible, restrained, and perhaps gentler version of capitalism for today and the future.
