
The Great Enrichment
The Economic History Podcast
00:00
What Is Capitalism?
The words we use very often determine how we think. And if we call it capitalism, we ene focusing o capital. That's a scient scientific mistake. So we should calling what we have now than i've had since 18 hundred innovism. It focuses on that innovation to an extraordinary degree. Now, they're as mechanical as the eassy one. But but then also by logical innovation, such as this matter of cotton ants and then a hybrid corn. Rish consider the motor way. More and more people had automobiles. They were still pretty much luxury products in the early twentieth century. By the 19 twentie ermore and more people were acquiring them; could go faster than originally
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