Thinkers & Ideas Capitalism and its Critics with John Cassidy
Oct 28, 2025
John Cassidy, a staff writer at The New Yorker and Pulitzer Prize finalist, engages in a thought-provoking discussion about his book on capitalism's critics. He explores the enduring critiques of capitalism, such as inequality and instability, while highlighting its surprising adaptability. Cassidy reframes the Luddites as protesters against misuse, rather than technology itself. He addresses the impact of unpaid domestic labor, and shares surprising insights from his research, suggesting capitalism may be facing a political crisis amid rising tensions.
AI Snips
Chapters
Books
Transcript
Episode notes
Enduring Themes Of Capitalism Critique
- Critics of capitalism have repeatedly focused on inequality, monopoly, alienation, instability, and globalization since its origins.
- These themes persist because capitalism generates wealth but also concentrated power and recurring economic dislocation.
Productivity And Flexibility Explain Survival
- Capitalism endures because it produces large long-term gains in living standards and because it adapts into different models.
- Historical shifts (Keynesianism, neoliberalism, state capitalism) show capitalism's productivity and protean flexibility.
State And Capitalism Are Symbiotic
- The state has been central to capitalism by guaranteeing property rights, providing social insurance, and managing demand.
- Major capitalist advances (Bismarckian welfare, Keynesian demand management) relied on active government intervention.
