You should never get lose sight of the idea that why do we have a market?

What's the point of a market?

Everyone thinks that markets are somehow objects that arose, they were handed down by Moses,

they come out of human interactions, they've been willed by God or whatever.

Actually, markets are human creations, and they evolve in different ways.

And we can, for better or worse, shape ways in which they evolve.

And we don't always have to think of every intervention as a stupid intervention.

It doesn't necessarily a disaster.

I think it's interesting about Smith is the number of interventions that he's prepared to tolerate

in order to achieve other social goals.

So he never loses the idea that what really matters is the legitimacy

of the whole polity within which markets are operating. I'm Bethany McLean. Did you ever have a

moment of doubt about capitalism and whether greed's a good idea? And I'm Luigi Zengalis. We have socialism

for the very rich, rugged individualism for the poor.

And this is Capital Isn't, a podcast about what is working in capitalism.

First of all, tell me, is there some society you know that doesn't run on greed?

And most importantly, what isn't?

We ought to do better by the people that get left behind.

I don't think we shouldn't kill the capital system in the process.

There is a phrase that has entered the political vocabulary in the last few months, Epstein class.

It refers not only to one disgrace individuals, but to something broader.

A social world of extreme wealth, elite networking, private jets,

...