The market prioritizes profit over addressing all human problems, reflecting a bias towards those who can demonstrate financial value. It values individuals based on the intensity of their needs in relation to their wealth, often disregarding those without means. Consequently, survival in a capitalist market hinges on being perceived as useful enough to warrant employment and compensation. This creates an inherent unfairness as financial rewards are disproportionately allocated to those fortunate or skilled enough to seize opportunities, rather than those who are most deserving or in need. The ongoing debate centers around how to address these systemic inequalities within economic frameworks.
How the balance of power shifted, for a time, in the decades after World War II, and led to a better kind of capitalism – if you think prosperity being broadly shared is a good thing.
By John Biewen, with co-host Ellen McGirt. Interviews with Eric Rauchway and Brad DeLong. Thanks to the Studs Terkel Archive at WFMT. Story editor: Loretta Williams. Music by Michelle Osis, Lilli Haydn, Chris Westlake, Alex Symcox, and Goodnight, Lucas. Music consulting by Joe Augustine of Narrative Music. "Capitalism” is a production of the Kenan Institute for Ethics at Duke University, in partnership with Imperative 21.