"Exploitation is not exclusively capitalist, but wealth creation is." So says Joyce Appleby, professor emerita at UCLA and author of the new book, The Relentless Revolution: A History of Capitalism.
Although she criticizes certain aspects of capitalism, Appleby credits it for producing countless marvels of the modern world. "If you want this level of enjoyment," says Appleby, "Science, the arts, food, transportation, information—then you have to realize what's generating the wealth to create it."
Reason.tv's Ted Balaker sat down with one of our nation's most accomplished historians to discuss the history of capitalism, how capitalism stacks up against competing systems, and why Americans should root for a wealthy China.
Approximately 8.00 minutes.
Interview by Ted Balaker; shot by Paul Detrick, Hawk Jensen and Alex Manning; edited by Detrick.