How should the United States work to shape the future of capitalism in this age of insecurity? There is a growing belief that free market capitalism isn’t working and needs to be reformed. While global markets have lifted billions of people out of poverty since the 1990s, markets have also fueled growing inequality, economic insecurity, and populist backlashes in rich and poor nations. In response to the Covid-19 pandemic and the return of great power rivalry, pressures to 'de-couple', 'de-globalise' and 're-shore' trade and investment have accelerated. Disenchantment with global capitalism is spreading.
In January 2024 the Phelan US Centre issued a call for entries from LSE Master's students to write a 1000-word essay on capitalism and the United States with the prompt: "How should the United States work to shape the future of capitalism in this age of insecurity?" Students were encouraged to interpret this prompt from a variety of perspectives, and with an interdisciplinary focus.
Submitted essays were judged by a panel of Phelan US Centre staff and LSE academics.
The winning entry and runners up were published on the LSE United States Politics and Policy Blog (USAPP). With over half a million visitors every year this is an excellent chance for LSE students to publish their original work on the United States to a wider audience.
Essay competition winner
To save global capitalism, the US needs to focus on the ‘places that don’t matter.’ - David Millman - LSE Department of Geography and the Environment
Essay competition runners-up
Beyond basic: The transformative power of guaranteed income - Yazmin Baptiste - LSE Department of Methodology
Capitalism 2.0: Pre-distribution, not just redistribution - Manickam Valliappan - LSE Department of Geography and Environment
Presentation to the British-American Parliamentary Group in the UK Parliament
In March 2024, David Millman presented his essay in Parliament to The Rt. Hon. Ranil Jayawardena, MP, Lord Fox and Lord Elliott, members of the British-American Parliamentary Group (BAPG). This was followed up with a Q&A session with BAPG members, the essay competition winner, and the runners up, Yazmin Baptiste and Manickam Valliappan.
Left to Right: Lord Fox, David Millman (Essay competition winner), The Rt. Hon. Ranil Jayawardena, MP, Yazmin Baptiste (Essay competition runner-up), Manickam Valliapan (Essay competition runner-up) and Lord Elliott. Photo: Robin Boot.
Watch the Phelan US Centre video featuring the 2023 climate change essay competition winner and runners-up
Phelan US Centre Climate Change Essay Competition
Thanks to all those who entered. For more information about future competitions and Centre events, please subscribe to our termly newsletter.