THE NEW INSTITUTE dedicated its final collaborative fellowship program to the theme of Re-thinking Capitalism. It is striking how few institutions are devoted to interrogating the foundations, limits, and alternatives to one global system. Consistent with our belief that the humanities are essential to addressing today’s interwoven crises, we understand capitalism not merely as an economic form, but as a socio-political practice – one that shapes values, behaviors, and culture. Our starting point is the ambivalent nature of capitalism: it has simultaneously generated immense material wealth, brought millions out of poverty, spurred technological and scientific development while also deepening inequality, promoting mass-scale ecological destruction, and fragmenting societies. We asked whether capitalism as such fundamentally needs to be left behind or whether it can be consistent with social well-being, equality, and ecological stability.

Our six programs probed different dimensions of this system with the aim of illuminating how it can be progressively transformed to serve both people and the planet. Consistent with our overarching mission to overcome the theory-practice gap, we brought together practitioners and academics from different sectors and disciplines. Our international focus is also reflected in our program chairs, who come from Japan, Nigeria, Peru, the United Kingdom, and the United States.

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