In the U.S., especially among younger generations, polling shows diminished enthusiasm for capitalism and lower confidence that capitalism can deliver fair outcomes. Meanwhile, many who believe in capitalism recognize the need to confront its weaknesses. In this episode, we explore how capitalism can generate economic growth and opportunity, as well as how it can reinforce and accentuate disparities in wealth and political power.
0:55 The benefits of capitalism
3:18 Adam Smith, David Hume, and The Scottish Enlightenment
5:43 Growing Income Inequality and The Rigged System
11:08 Declining life expectancy for white working class in the U.S.
15:00 The urban versus rural divide
17:37 Ideas for addressing capitalism’s challenges
The Infidel and The Professor: David Hume, Adam Smith, and The Friendship That Shaped Modern Thought, Dennis C. Rasmussen
Makers and Takers: The Rise of Finance and The Fall of American Business, by Rana Foroohar