Is faith in our economic system cracking up?
From Mayor Mamdani's win to Elon's trillion-dollar payday, from Instagram infuluencers embracing communism to Bernie and AOC, from Trump's tariffs to Chinese communism. Critiques abound of the neoliberal order that has dominated the past half century.
But those assumptions - not just about policies, like free trade and low taxes, but about the very structure of we live our lives, how we produce stuff, and get stuff; assumptions like the existence of money and markets and wages - are not inescapable facts of reality. They evolved, over the course of the last thousand years. They made us very rich. And they could've been otherwise.
Professor Sven Beckert is a professor of history at Harvard University and one of the world's leading historians of capitalism. He's not a free-market cheerleader, not a libertarian economist defending unfettered capitalism. He's a historian who studies how, in the real world, violence, coercion and empire were foundational to capitalism's rise... but how capitalism remains the indispensable system that made you richer than most people who ever lived.
Beckert got his PhD in history from Columbia University and was a finalist for the Pulitzer Prize in 2014. His new book is Capitalism: A Global History, and he joined Josh to shed light on what capitalism is, how it came about, and how might we re-anchor capitalism in moral and ecological limits... without extinguishing the creativity that has made it the most productive engine of all time.
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