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September 17, 2019updated 30 Sep 2022 8:20am

FT drops online paywall for 24 hours as it launches campaign to ‘reset’ capitalism

By James Walker

The Financial Times will make its online journalism available for free for 24 hours globally to promote a campaign for a “better form of capitalism”.

The title will launch the “open day” from 4pm today, providing access to content that would normally sit behind a paywall.

Readers will still have to pay for tomorrow’s print edition in the UK, but up to 7,000 copies will be handed out for free in New York City with the purchase of select US newspapers.

The FT’s decision to drop its paywall for 24 hours comes after it unveiled its New Agenda campaign platform yesterday.

Editorial pieces on the new platform have so far addressed economic inequality, the future of liberalism and capitalism and advertising revenue going towards disinformation outlets.

In a statement on the New Agenda campaign, FT editor Lionel Barber said: “The Financial Times believes in free enterprise capitalism. It is the foundation for the creation of wealth which provides more jobs, more money and more taxes.

“The liberal capitalist model has delivered peace, prosperity and technological progress for the past 50 years, dramatically reducing poverty and raising living standards throughout the world.

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“But, in the decade since the global financial crisis, the model has come under strain, particularly the focus on maximising profits and shareholder value.”

“These principles of good business are necessary but not sufficient.

“The long-term health of free enterprise capitalism will depend on delivering profit with purpose. Companies will come to understand that this combination serves their self-interest as well as their customers and employees. Without change, the prescription risks being far more painful.”

Barber added: ” It is time for a reset”.

Tomorrow’s print edition of the FT will come in a wrap advertising the New Agenda campaign.

Picture: Financial Times

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