

Capitalism has been the engine of unprecedented economic growth and social transformation. With the fall of the communist states and the triumph of "neo-liberalism", capitalism is by far the world's dominant ideology. But how much do we understand about how it originated, and what makes it work?

Capitalism is much more complex than the vision Adam Smith laid out in The Wealth of Nations. Indeed, it predates Smith by centuries and took root in the practices of colonialism and the slave trade.
Aired: 10/14/2014
Adam Smith was both economist and moral philosopher. But his work on morality is largely forgotten, leading to tragic distortions that have shaped our global economic system.
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