As we approach the 2024 U.S. elections, the political landscape is one of uncertainty. With less than a week to go until 5 November, the presidential race, as well as majorities in the Senate and House of Representatives, remain too close to call. This electoral uncertainty goes hand in hand with discussions about economic stability and fears about the state – and future – of democracy as we know it.

With deepening political divides and widening economic inequality, there’s a growing awareness that our current capitalist system may be ill-equipped to sustain a future that respects both democratic resilience and environmental boundaries. This tension calls for more than a critique; it demands a profound rethinking of capitalism itself. At the core of this discourse is the argument that we must either realign our financial systems with social welfare and ecological imperatives – or consider models that move beyond capitalism altogether.

At THE NEW INSTITUTE, we have devoted an entire year to exploring these issues. Bold new thinking is needed to find alternative economic models to capitalism's growth imperative. In this Update, we invite you to read about our latest developments, the accomplishments of our fellows, the questions that keep us working, and the things that inspire us.

This brings us to the next issue of dangerous power relations: Did you know that an estimated 70 to 90% of the world's grain trade is controlled by four major corporations, and that a majority of our calories comes from four staple crops? Our food systems are not only fragile, they are dangerously narrow. This concentration of power exacerbates food insecurity and threatens biodiversity.

As part of the first Hamburg Sustainability Conference, we organized a pre-event to highlight the urgent need for a global food transition. Joined by external experts, including Achim Steiner, Administrator of the United Nations Development Programme (UNDP), and Martin Frick, Director of the World Food Programme (Berlin), our fellows José Luis Chicoma, Jessica Duncan and Sayed Azam-Ali from the “The Future of Food”program, and Maja Groff from our “Planetary Governance” program, emphasized that food production contributes significantly to greenhouse gas emissions, while a staggering one-third of food produced is wasted. They emphasized a transformative shift toward agroecology and advocated for a more diverse and resilient food system.

We need to rethink not only how we produce food, but also who benefits from it. Systemic change is essential – governments must prioritize environmental sustainability over profit margins. It's time to empower local farmers and invest in innovative, community-driven solutions. Let's reclaim our food systems. They are vital to the health of our planet and our collective future. Want to learn more about these topics? Check out our three key takeaways from the event.

We're thrilled to welcome two new fellows to the “Africapitalism” program: Cima Sholotan, a private-sector expert focused on scalable, collaborative business models, and Jude Chukwunyere Iwuoha, a former banker turned academic who advocates for "pragmatic capitalism" for Africa. Together, they're working to reimagine entrepreneurship and economic participation on the continent through an Africapitalist lens, seeking solutions that prioritize local empowerment and sustainability.

Africa is facing a critical unemployment crisis that threatens regional stability and exacerbates migration pressures. Our “Africapitalism” program, now enriched by the presence of Cima and Jude, calls out for the One Kindred One Business Initiative (OKOBI) as a transformative response to this crisis. The OKOBI model offers a path to economic empowerment where participants are not only business owners, but also custodians of communal wealth and environmental stewardship. In Nigeria's Imo State, this model has empowered over 300 businesses, created over 5,000 jobs, and reshaped corporate engagement by emphasizing sustainable, community-driven growth over philanthropy.

Call to Action: OKOBI represents a culturally embedded, scalable solution to Africa's economic challenges. In line with Germany's policy guidelines for Africa, the initiative invites companies to support local capacity building, fund pilot projects, promote dialogue with African partners and help create frameworks for measuring impact. For more information on how to get involved, please visit our website.

At the recent Frankfurt Book Fair, we curated two discussion rounds that highlighted literature's role as a vehicle for social critique and change. In one conversation, Kohei Saito, chair of our “Beyond Capitalism” program, and philosopher Yuval Noah Harari addressed the profound changes needed in our approach to economic and technological systems. Kohei discussed themes from his recent book, Slow Down, and made a strong case for why we need to pursue "degrowth" as an immediate priority in light of the multiple crises we are currently facing.

Yuval Noah Harari also addressed the need for urgent action on the dangers of AI and how it threatens humanity if not regulated, the subject of his new book Nexus. The conversation ranged from what Marx got right  – and wrong  – to ideas on how bureaucracy can be the unsung hero of progress, to understanding the power of narrative to convince people of the need for change. Watch the ARD recording of ttt – titel, thesen, temperamente – at the event here. 

In the iconic Frankfurt Pavilion at our second event, we met a familiar face: our alumna Akwugo Emejulu, a political sociologist, met with Dominique Haensell, writer and editor of Missy Magazine, to discuss representation and the transformative influence of literature within feminism. Akwugo and Domnique discussed the books that first introduced them to the concept of feminism and shared their reflections on how literature has shaped their personal and professional lives. A video of the entire event is available here.

You may have noticed already, but our fellows are out there. They write for the international press, they appear on podcasts, television shows, on public stages and important conferences. For a deeper look into our fellows' work, explore the new Fellows in the Media section on our website, where their ideas and actions take center stage in the wider public discourse.

Some recent highlights? Well, there are many, and in many different languages. We recommend a piece by our program chair Aris Komporozos-Athanasiou in Aeon magazine entitled “Finance as Alchemy”.  You also shouldn’t miss out on this Le Monde article, in which Kohei Saito explains how an ecological Marx can help us think about the relationship between capitalism and climate change. If you're tired of reading, listen to our one and only Minna Salami in the Future Learning Design Podcast, where she talks about sensuous knowledge.

In the midst of all this uncertainty, and whatever the outcome of the U.S. elections, we remain committed to working for democratic futures. We are proud to announce that the second issue of our publication series THE NEW has just arrived! The 17 essays in the new volume, entitled Seeds for Democratic Futures, explore the potential for democratizing democracies. 

From finding faith to reclaiming the commons, each essay aims to plant a seed that carries the promise of democratic potential. Covering topics such as planetary change, AI and plural knowledge systems, this book acts as an inspiration, calling for unorthodox, compassionate and experimental approaches. It's an invitation to cultivate democratic futures that are as diverse, resilient and vibrant as the societies they seek to serve.

We cordially invite you, our readers, to the launch of our new book on 3 December, starting at 18:30. The volume's editors, Frederic Hanusch (Justus Liebig University Giessen) and Anna Katsman (THE NEW INSTITUTE), will be in conversation with three of the authors – Max Krahé, Michael Brüggemann and Judith Simon – about the book, followed by a Q&A session, drinks and snacks. Please register at events@thenew.institute.

Last but not least: Don't miss our public Inspiration Talk with Rahel Jaeggi on November 19, starting at 17:00. Rahel is a leading voice in contemporary critical theory and an important figure in debates about capitalism, democracy, and social change. As Professor of Practical Philosophy and Director of the Center for Humanities and Social Change at Humboldt-Universität zu Berlin, Rahel Jaeggi's research emphasizes the transformative potential of philosophy to address social conflicts and inspire new paths towards justice and emancipation.