The Brian Lehrer Show 300 Years of Critiquing Capitalism
May 12, 2025
In this engaging discussion, John Cassidy, a staff writer at The New Yorker and author of Capitalism and Its Critics: A History, dives into the long-standing criticisms of capitalism. He traces these critiques from the Industrial Revolution to today's challenges with AI. Cassidy examines the complex legacy of thinkers like Adam Smith, the Luddite protests against industrialization, and the intertwined nature of capitalism and government. He also reflects on the evolution of consumer capitalism and the persistent inequalities it generates.
AI Snips
Chapters
Books
Transcript
Episode notes
Roots of Industrial Capitalism
- Industrial capitalism began in late 18th century Britain with mass production for profit.
- It evolved from earlier mercantile capitalism tied to colonialism and slavery.
Adam Smith's Critique of Mercantilism
- Adam Smith criticized mercantilism's monopolies and corruption, favoring competition instead.
- He proposed free enterprise as a solution to inefficiencies and government corruption.
Smith's Globalism Vision
- Smith saw slavery and colonialism as unnecessary to free commerce but acknowledged their economic role then.
- He condemned protectionism and tariffs as morally wrong and economically inefficient.
