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What is civic capitalism? An interview with Colin Hay

Ask not what you can do for the market, but what the market can do for you

By Jonathan Derbyshire  

MAP

In their new book, “Civic Capitalism“, Colin Hay and Anthony Payne, co-directors of the Sheffield Political Economy Research Institute at the University of Sheffield, argue that the global financial crisis of 2007-08 and its aftermath has forced us to ask fundamental questions about “what capitalism can do for us, as citizens of a democratic society”. As an alternative to the “Anglo-liberal” economic model that blew up so spectacularly after the US “sub-prime” mortgage market went south, Hay and Payne propose something they call “civic capitalism”. They define it as follows: “The…

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