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

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Episode guests

Michael Sonenscher

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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.

Introduction

4min

The Origins and Definitions of Capitalism

8min

Exploring the Complexities of Capitalism

9min

Debunking Myths and Exploring Inequality in Capitalist Societies

6min

Analyzing Capitalism and the Case of Venezuela

3min

Capitalism – what's the story behind the word and a cross cultural survey of peoples attitudes to it. Laurie Taylor talks to Michael Sonenscher, Fellow of Kings College, Cambridge about the evolution of a word which was first coined in France in the early 19th century. How has its meaning changed over time and how can a historical analysis shed light on political problems in the here and now? What’s at stake in our understanding or misunderstanding of the term?

They’re joined by the German sociologist and historian, Rainer Zitelmann, whose latest study argues that many people are buying into myths about Capitalism and includes the largest international survey of attitudes towards our economic system. He finds negative attitudes to be widespread, including in Great Britain, the motherland of Capitalism - only in 12 countries are attitudes more critical. What accounts for this disillusion?

Producer: Jayne Egerton

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Thinking Allowed

Capitalism

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Origins of the Word Capitalism

Difference Between Capitalism and Commercial Society

Varieties of Capitalism and Perceptions

Remember Everything You Learn from Podcasts