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This podcast explores the connection between capitalism and racism, the impact of the 2008 financial crisis, and the dissatisfaction people feel towards capitalism. It reflects on the need for stronger government intervention, the challenges of teaching economics, and the efforts of activists in Rochester to push corporations to engage with the civil rights movement.
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- Capitalism is an economic system based on private property, markets, and capitalist firms that emerged in the 18th century.
- The 2008 financial crisis intensified public anger towards capitalism, highlighting its prioritization of large corporations and the wealthy over average individuals struggling with economic instability.
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The Emergence and Characteristics of Capitalism
Capitalism is an economic system based on private property, markets, and capitalist firms. It emerged in England in the 18th century and spread globally in the 20th century. The defining characteristics of capitalism include private ownership, the pursuit of profits, and the employment of workers. It is not a natural or predetermined system but has been widely adopted and studied.
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Listen to the best highlights from the podcasts you love and dive into the full episode