In 1923, the snap-on corporation got a patent, patent number 1443413, for an early pioneering

ratchet wrench. What's a ratchet wrench? It's something that when you turn it one direction,

you can apply force and make something go forward and it can't go backwards. And so the ratchet

only turns in one direction. And as metaphors go, a patent in 1923 for an industrial ratchet

is a really good one. Hey, it's Seth. And this is a Kimbo.

We'll be back in a second to talk about the measures of capitalism. But first,

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Throughout the 1800s and the 1900s and even today, capitalism has been the force that changed

the world. Capitalism, a very simple idea of finding a market, finding a need, selling something

for less than it's worth to the person who's buying it, repeating the process over and over again

is in many ways a ratchet. It's a ratchet because if there are three products and someone wants

to grow market share, someone wants to build something, they have to make something that's better

than the existing options. Better in some way than the existing options because if they don't,

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