4.8 • 1.9K Ratings
🗓️ 3 July 2024
⏱️ 25 minutes
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And its name is capitalism
Akimbo is a weekly podcast created by Seth Godin. He's the bestselling author of 20 books and a long-time entrepreneur, freelancer and teacher.
You can find out more about Seth by reading his daily blog at seths.blog and about the podcast at akimbo.link.
To submit a question and to see the show notes, please visit akimbo.link and press the appropriate button.
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0:00.0 | If you want, we've developed something, an extraordinary thing to help you get it. |
0:08.0 | If you want a big box of live ladybugs, if you want glue that even works underwater. If you want a Nicholas |
0:16.2 | Cage mermaid pillow you can get it. You can get it from the free market, but the free market has a surprising opponent. |
0:27.3 | And if we're not careful, the free market will devour itself. |
0:32.1 | Hey, it's AJ, and this is a special archived episode of A Kimbo. |
0:37.0 | You don't need Adam Smith to tell you that the peer-to-peer free market has an |
0:48.6 | invisible hand somehow figuring out the things that you want or maybe even need and somehow alerting people |
0:58.5 | who want to fight with each other to help you get it more easily and more cheaply. We call it the free market. The |
1:06.6 | thing is this free market, buyers and sellers, people scurrying around to try to figure out what others want is fragile indeed. |
1:17.0 | It's rarely free and it's hardly stable. |
1:21.3 | And some people, the people who have drunk the Milton Friedman flavor aid, will |
1:26.7 | tell you that the enemy of the free market is government regulation. |
1:31.8 | I'm not sure that's true. I think the enemy of the free |
1:35.4 | market might be capitalism. Capitalism can fuel the free market but it is not the free market. Capitalism is the idea that capital, |
1:47.0 | money, can be used to get machinery to build systems to make things more productive which leads to a |
1:55.6 | ratchet called progress. But capitalism has at least three significant defects. I got this question called in from one of our |
2:07.8 | amazing listeners. Hi Seth Sebastian from New York here. I heard you talk about Facebook being a monopoly, |
2:14.6 | which I agree with, but I don't exactly know why. |
2:17.3 | I would love to hear your thoughts on that. |
2:19.3 | Thanks. |
2:20.7 | What does it mean for something to be a monopoly? |
2:23.0 | Does it have anything to do with the board game? |
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