LM

lecture recording on 03 October 2025 at 11.58.16 AM

Introduction

  • Overview of economic models and capitalism

  • Importance of various forms of capitalism

  • Role of the state in shaping economic functioning

Capitalism and Inequality

  • Intrinsic relationship between capitalism and inequality

    • Definition: Capitalism inherently creates inequality.

  • Balance of inequality for market economy stability

    • Too little inequality harms market functioning

    • Excessive inequality leads to broader political ramifications