185 - Capitalism - One Minute History

The video discusses the evolution of economic systems, starting with Adam Smith's advocacy for free markets in 'The Wealth of Nations'. It covers the spread of capitalism during the Industrial Revolution, leading to wealth inequality and poor working conditions. In response, labor movements and ideologies like socialism and communism emerged. The collapse of the Soviet Union reinforced free market beliefs, but capitalism faces criticisms such as environmental sustainability and income inequality.

What ideologies emerged as a response to the disparities caused by capitalism?

What criticisms are commonly associated with capitalism today?