Would you like to learn the basics of capitalism with none of the politically charged rhetoric?
Key takeaway
Capitalism is a market-based system that relies on voluntary trade of privately owned property.
In the next 30 minutes, you will have a better understanding of how markets, trade and voluntary exchange have helped create prosperity.
Follow the steps in order, or choose any step.
Let’s start with Milton Friedman, the person most widely recognized for his advocacy of free market capitalism, as he explains the connection between freedom and capitalism.
Who invented free market capitalism? The answer may surprise you. Author Johan Norberg tells how capitalism evolved.
Now, take a deeper dive into why trade creates value with Professor Tyler Cowen. Can we create something out of nothing?
We might have more fun looking at this from a different angle. YouTuber Andy George shows just what it would take to make a chicken sandwich from scratch. Warning: you’ll need a chicken.
So far, we’ve focused mostly on trade between people. But what is capital? It’s so easy, even a caveman could understand it.
Think about it. Poverty is the natural state of humanity. It’s only until the past 200 years that wealth creation – the accumulation of capital – has liberated most of the planet from poverty.