"The Rise of Capitalism and Modern Markets" explores how the Industrial Revolution transformed commerce forever. Penny Powers unpacks Adam Smith's revolutionary "invisible hand" concept before examining how new technologies, organizational structures, and financial instruments created unprecedented wealth—and unprecedented inequality. Follow the evolution of stock markets from face-to-face trading under buttonwood trees to today's high-frequency digital platforms. Understand how capitalism's development intertwined with imperialism, how consumer markets reshaped social identity, and how various economic theories from Marx to Keynes to Friedman have tried to explain and influence market behavior. This comprehensive episode traces capitalism's complex journey from 18th century Britain to the 2008 financial crisis and beyond.

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