The chapter explores the dual nature of capitalism, emphasizing its drive for innovation but also its contribution to inequality, and discusses the legal framework supporting capitalism's operation, including private property rights and bankruptcy laws.
Economic change happens in a cultural context. We trace the tectonic shifts in the Western mind that made capitalism thinkable – in part through a look at two Enlightenment thinkers: Baruch Spinoza and Adam Smith. (The real Smith, not the one held up as the patron saint of unfettered capitalism.).
By John Biewen, with co-host Ellen McGirt. Interviews with Kate Rigby, Glory Liu, Steven Nadler, and Wendy Carlin. Story editor: Loretta Williams. Music by Michelle Osis, Lilli Haydn, Chris Westlake, Alex Symcox, and Goodnight, Lucas. Music consulting by Joe Augustine of Narrative Music. "Capitalism” is a production of the Kenan Institute for Ethics at Duke University, in partnership with Imperative 21.