That’s not entirely true. The Hudsons Bay Company, for instance, was on the stock market in the 1600s. The London Royal Exchange was built in the 1500s.
It really shouldn’t be that complex. Adam Smith, considered the Father of Capitalism, published The Wealth of Nations in 1776. So even if you argue that someone in power got a copy an implemented immediately; blaming Capitalism for things that happened before them is as backwards as blaming failures in Collectivism that happened before 1867 (Publishing of Das Kapital by Marx).
I agree with you though, we definitely need better economic education in the US and likely the rest of the West too.
Definitely in the US. I find interactions with people outside the United States tend to go a little better and they have a better understanding. But sometimes still lack in many areas. In the US, however, we tend to be pretty consistently misinformed.
That’s not entirely true. The Hudsons Bay Company, for instance, was on the stock market in the 1600s. The London Royal Exchange was built in the 1500s.
Yes but they were in Mercantilism systems not Capitalist ones.
It’s extremely sad how purposefully western education has failed so many people on this front. You are 100% correct.
It really shouldn’t be that complex. Adam Smith, considered the Father of Capitalism, published The Wealth of Nations in 1776. So even if you argue that someone in power got a copy an implemented immediately; blaming Capitalism for things that happened before them is as backwards as blaming failures in Collectivism that happened before 1867 (Publishing of Das Kapital by Marx).
I agree with you though, we definitely need better economic education in the US and likely the rest of the West too.
Definitely in the US. I find interactions with people outside the United States tend to go a little better and they have a better understanding. But sometimes still lack in many areas. In the US, however, we tend to be pretty consistently misinformed.