Episode 82: Capitalism Doesn't Mean What You Think It Means
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The Rise of the Investor Class
Capitalism gets its bad name largely from people who don't understand what's going on. What we're missing is the fact that they've taken on tremendous risk in investing their money in a business. All of this requires a more modern economy than what we had, perhaps, back in the 16 or 1700s. We don't think of them as inventions, but stocks, bonds, financial instruments are inventions. They have to be invented and then we need the markets to evolve in which they can be bought and sold on a regular basis.
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