The Hillsdale College Online Courses Podcast

On this episode of The Hillsdale College Online Courses Podcast, Jeremiah and Juan discuss the spiritual elements of capitalism before introducing Dr. Charles N. Steele.

Capitalism rewards man with profit or punishes him with loss, depending on the merit of his actions. It expresses the freedom and rationality of human nature in an economic system. The capitalist system depends upon private property rights, the freedom of exchange and contract, sound money, and the rule of law that supports all of these through formal and informal structures. Such a system encourages innovation and morality along with economic prosperity. 

Capitalism is not the simple pursuit of profit without regard for moral restraints. Capitalism produces wealth by serving the desires of society. A moral and free society will reward good economic activity, which in turn creates prosperity for the people.

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On this episode of The Hillsdale College Online Courses Podcast, Jeremiah and Juan discuss how capitalism develops life-saving technology before introducing Dr. Charles N. Steele.

Capitalism rewards man with profit or punishes him with loss, depending on the merit of his actions. It expresses the freedom and rationality of human nature in an economic system. The capitalist system depends upon private property rights, the freedom of exchange and contract, sound money, and the rule of law that supports all of these through formal and informal structures. Such a system encourages innovation and morality along with economic prosperity. 

Technology is the unique human ability to discover how to convert resources into useful implements. Economic resources are created by human ingenuity as we discover new uses for previously worthless materials.

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On this episode of The Hillsdale College Online Courses Podcast, Jeremiah and Juan discuss maintaining a balanced approach to free trade before introducing Dr. Charles N. Steele.

Capitalism rewards man with profit or punishes him with loss, depending on the merit of his actions. It expresses the freedom and rationality of human nature in an economic system. The capitalist system depends upon private property rights, the freedom of exchange and contract, sound money, and the rule of law that supports all of these through formal and informal structures. Such a system encourages innovation and morality along with economic prosperity. 

Trade allows men who specialize in the production of one good to exchange with men who specialize in the production of another. This increases total production and wealth.

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On this episode of The Hillsdale College Online Courses Podcast, Jeremiah and Juan discuss the difficulties of running a small business before introducing Dr. Charles N. Steele.

Capitalism rewards man with profit or punishes him with loss, depending on the merit of his actions. It expresses the freedom and rationality of human nature in an economic system. The capitalist system depends upon private property rights, the freedom of exchange and contract, sound money, and the rule of law that supports all of these through formal and informal structures. Such a system encourages innovation and morality along with economic prosperity. 

Large operations tend to be more efficient at production, but they require greater investments in management and organization. Individuals and corporations maximize their efficiency by balancing the proper size and scope of their endeavors.

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On this episode of The Hillsdale College Online Courses Podcast, Jeremiah and Juan discuss the division of labor before introducing Dr. Charles N. Steele.

Capitalism rewards man with profit or punishes him with loss, depending on the merit of his actions. It expresses the freedom and rationality of human nature in an economic system. The capitalist system depends upon private property rights, the freedom of exchange and contract, sound money, and the rule of law that supports all of these through formal and informal structures. Such a system encourages innovation and morality along with economic prosperity. 

Economic production refers to the production of value. As human innovation creates new forms of value, a division of labor emerges to meet the demand for these new goods and services.

See omnystudio.com/listener for privacy information.