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Capitalism: What Is It?

Throughline

CHAPTER

Is America a Capitalist Country?

I think you have to understand that the actual capital, it comes from a pretty important long period of expropriation of land and labor from people who were not justly compensated. So at what level on a zero to 100 scale do you have to get it before you say you're a capitalist country? If you really did twist my arm, I would say after the abolition of slavery. That's where capitalism in America starts. And I'm kind of tempted to say that it ends in 1924 when there are permanent regulations on immigration - which has turned our economy into something radically different from what it would otherwise be.

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