Hosted in the University of Tokyo’s historic Yasuda Auditorium, the Forum brought together leading scholars and practitioners for deep discussions on the urgent challenges facing capitalism and its future prospects under the theme:

“Rethinking Capitalism: Varieties, Contradictions, and Futures.”

In this edition of the newsletter, we highlight Panel Discussion 1and Panel Discussion 2.

Panel Discussion 1 explored the relationship between democracy and capitalism, revisiting one of the most influential ideas in political science—the notion that economic development naturally leads to democracy—and examined how this hypothesis aligns with the current global state of democracy.

Panel Discussion 2 offered a multifaceted look at the financial sustainability of universities as “infrastructure for the future,” and assessed the crisis facing U.S. higher education following the start of Donald Trump’s second and current tenure as the President of the United States.

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Prosperity Without Democracy: Rethinking Modernization Theory in the 21st Century

Exploring Democracy and Capitalism

Modernization theory posits that economic growth fosters democracy. Yet recent global developments cast doubt on this assumption. Non-democratic regimes such as China and Vietnam have achieved sustained growth, while countries like India and Turkey have experienced democratic backsliding. Even within established democracies, far-right parties have been gaining ground. In much of the Global South, hybrid regimes that combine electoral practices with authoritarian measures are increasingly prevalent, further complicating the relationship between prosperity and democracy. This session reconsiders the contemporary relevance of modernization theory and examines new perspectives on the evolving interplay between capitalism and political systems.

Moderator

MUKOYAMA Naosuke | Associate Professor, Institute for Future Initiatives, the University of Tokyo

Panelists

Erica FRANTZ | Associate Professor, Political Science , Michigan State University
KIM Sunhyuk | Professor, Department of Public Administration, Korea University
KAWANAKA Takeshi | Professor, Faculty of International Relations, Asia University
AKO Tomoko | Professor, Graduate School of Arts and Sciences, the University of Tokyo

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Rethinking Academic Capitalism: The Crisis of US Universities and the Global Future of Higher Education

Exploring Academic Capitalism

Universities in the US have long been the intellectual hub for researchers around the world and at the forefront of diversity and inclusion efforts. But they are under pressure from their own government, with threats to cut federal funding and halt the influx of international students.
If the universities rely more on private capital for research, what implications would this have on the integrity of higher education? The panel explores the relationship between capitalism and education.

Moderator

HIKOTANI Takako | Professor, Center for Global Education, the University of Tokyo

Panelists

MIMAKI Seiko | Professor, Graduate School of Global Studies, Doshisha University
LIM Meimei | President, Asia Pacific, Times Higher Education
SUGANO Akira | Executive Vice President, Chief Financial Officer, the University of Tokyo