Go offline with the Player FM app!
Understanding Capitalism: Profit, Loss, and the Economic Structure of Society
Manage episode 481068737 series 3484000
On this episode of The Hillsdale College Online Courses Podcast, Jeremiah and Juan discuss the power of economic indicators before introducing Dr. Charles N. Steele.
Capitalism rewards man with profit or punishes him with loss, depending on the merit of his actions. It expresses the freedom and rationality of human nature in an economic system. The capitalist system depends upon private property rights, the freedom of exchange and contract, sound money, and the rule of law that supports all of these through formal and informal structures. Such a system encourages innovation and morality along with economic prosperity.
Profit and loss are economic indicators of the success of our choices. In a free society, responsible choices produce profit while irresponsible actions incur loss.
See omnystudio.com/listener for privacy information.
1491 episodes
Manage episode 481068737 series 3484000
On this episode of The Hillsdale College Online Courses Podcast, Jeremiah and Juan discuss the power of economic indicators before introducing Dr. Charles N. Steele.
Capitalism rewards man with profit or punishes him with loss, depending on the merit of his actions. It expresses the freedom and rationality of human nature in an economic system. The capitalist system depends upon private property rights, the freedom of exchange and contract, sound money, and the rule of law that supports all of these through formal and informal structures. Such a system encourages innovation and morality along with economic prosperity.
Profit and loss are economic indicators of the success of our choices. In a free society, responsible choices produce profit while irresponsible actions incur loss.
See omnystudio.com/listener for privacy information.
1491 episodes
All episodes
×Welcome to Player FM!
Player FM is scanning the web for high-quality podcasts for you to enjoy right now. It's the best podcast app and works on Android, iPhone, and the web. Signup to sync subscriptions across devices.