Sure you’ve heard the term- you know that capitalism is the primary economic system here in the United States, but is it the best option? And especially as of late, capitalism seems to be getting dragged through the mud. Depending on what you’re reading and who you’re listening to, you might be beginning to think that capitalism is the worst! However, we believe it’s actually a force for good and is an idea and concept that many fail to appreciate. Similar to the undervalued baseball players that Billy Beane scouted for the A’s to turn around their club, or something as simple as dental floss when it comes to taking care of your teeth- capitalism isn’t sexy, but it gets the job done. While we don’t think it’s the perfect solution, we’re going to spend this episode breaking down capitalism, why we think it works, and then what this means for us as individuals.

  • Extra cash – And regardless of where you are on the path to financial independence, we believe in the responsible use of credit cards. It’s smart to utilize the additional benefits that credit cards offer- for instance the 60,000 points that come with the Chase Sapphire Preferred Card. That’s $750 when you redeem through Chase Ultimate Rewards! This is no joke- I’ve already done this myself which we discussed on a recent episode after I met the initial spending requirements of $4,000 over 3 months!

During this episode we enjoyed a Bourbon Barrel Brick Kiln by Jackie O’s! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

Best friends out!

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3 comments on “Is Capitalism A Force For Good? – Episode 479

  1. Thomas Feb 23, 2022

    Hey guys! Let me preface this with I am a fan of the Scandinavian model of government. That being said I think you guys made a lot of good points for positive side and didn’t touch on any real negatives. Monopolies were mentioned but oligopolies were left out. Also no mentioning of slavery or prison labor (which can happen in all systems). Or the history of the famine the east India trade company caused or king Leopold and the millions that died during the rubber trade. Or Debeers and the colonization of Africa/the diamond cartel. Or ExxonMobil and lying about climate change.

    • Thanks for the comment Thomas. I definitely hear the points you’re making, and the success of other countries and their governments can definitely lead to a feeling that the grass is always greener. And it can also lead to a belief that those types of markets could work well here in the US- I think that’s a tall ask given the uniqueness and diversity of our country. There’s a lot more homogeneity in the Scandinavian countries that I think leads to different types of markets and norms working well for them.

      I think that the abuses in the examples you mentioned are valid, and the question I raise: is it the type of economic system to blame or is it individuals? I tend to think that the responsibility lies with the individual.

      We appreciate you listening to the podcast!

  2. Great episode! Thank you for the explanation.