The word “capitalism” has become incredibly loaded over the years. And since the term was actually popularized by Karl Marx to be the foil for his own ideology, that’s fairly understandable. It brings to mind all of the very worst aspects embodied by the elite, greedy, rent-seeking Gordon Geckos of the world, hoarding their capital resources like dragons on a pile of gold and profiting from the hard work of laborers while doing nothing productive themselves. This characterization, while incredibly common, is simply incorrect. Join Antony Davies and James Harrigan as they discuss the actual meaning of capitalism and more on this week’s episode of Words and Numbers.

Show Notes:

MIT study of commute times

Marchetti’s constant

Commute times in the 50 states

California requires companies to place women on boards

Foolishness of the Week:

Laura Ingraham wants Facebook to be a public utility

Topic of the Week: Capitalism:

Capitalism

Prices as signals

Join the Conversation:

Antony Davies on Twitter

James R. Harrigan on Twitter

Words & Numbers Backstage