Factually! with Adam Conover What’s Wrong with Capitalism? with John Cassidy
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Aug 6, 2025 Join Adam Conover and John Cassidy, a seasoned writer at the New Yorker and author of "Capitalism and Its Critics," as they dissect the entrenched problems within capitalism. They delve into historical critiques, exploring how perceptions of fairness and exploitation have evolved. Cassidy highlights the disconnect between media portrayals of business success and reality. The discussion also covers the urgent need for collective action on pressing issues like climate change, affordability, and the inequities inherent in the capitalist system.
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Enduring Capitalism Critiques
- Criticisms of capitalism like unfairness to workers and environmental harm have existed since its rise in the 1770s.
- Today, these concerns have intensified and coalesce, marking a unique moment in history.
Capitalism's Historical Origins
- Capitalism began as mercantile and colonial trading monopolies before industrial capitalism rose with factory production.
- Industrial capitalism started in 1770s Britain with water and steam power enabling large-scale manufacturing.
Luddites' Rebellion Against Factories
- Early factory production put skilled handloom weavers out of work, prompting the Luddite uprising.
- The British government responded harshly, deploying soldiers and punishing leaders severely to protect factory interests.
