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Thinking Allowed

Capitalism

Feb 7, 2024
Michael Sonenscher, Fellow of Kings College, Cambridge, discusses the evolution and meaning of the word 'capitalism' and its association with Britain. They explore the complexities of capitalism, public perception, debunk myths, and analyze inequality. They also study capitalism in Venezuela and its consequences. A fascinating historical analysis sheds light on political problems and attitudes towards our economic system.
28:47

Podcast summary created with Snipd AI

Quick takeaways

  • The word capitalism originated in France and was initially used by Catholics as a pejorative description of the political and economic arrangements in 18th century Britain.
  • Capitalism can manifest in different ways due to the various forms of property ownership.

Deep dives

Origins of the Word Capitalism

The word capitalism originated in France and was initially used by Catholics as a pejorative description of the political and economic arrangements in 18th century Britain. It was associated with Britain's ability to borrow capital for funding wars, which raised concerns about political liberty and freedom. Capitalism was linked to British imperialism, industry, trade, and the division of labor. Initially, it was used negatively to criticize British economic and political systems.

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