The Capitalist Creed — Credit, Growth, and the Modern Economic Religion Explained | Chapter 16 from Sapiens by Yuval Noah Harari

The Capitalist Creed — Credit, Growth, and the Modern Economic Religion Explained | Chapter 16 from Sapiens by Yuval Noah Harari

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What made capitalism the most powerful economic engine in history? In Chapter 16 of Sapiens: A Brief History of Humankind, Yuval Noah Harari argues that capitalism is not just an economic system, but a belief system—rooted in trust, the promise of endless growth, and the reinvestment of profits for a better future. Watch the full chapter summary below and subscribe to Last Minute Lecture for expert academic breakdowns!

Capitalism: Faith in the Future

Harari explores how modern banking, credit, and the very concept of economic growth rely on shared belief. Unlike earlier zero-sum worldviews, capitalism made prosperity a collective project—trust in tomorrow fuels investment today. Adam Smith reframed personal profit as a force for social good, shifting greed from a vice to a virtue.

Key Topics in Chapter 16

  • Capitalism as Belief System: The new “religion” of endless growth and faith in the future.
  • Credit and Modern Banking: Banks lend based on trust in future expansion, creating money and fueling economies.
  • Joint-Stock Companies: The VOC and British East India Company powered empire and innovation with shareholder investment.
  • Colonialism and Capitalism: Economic expansion was often tied to colonization, slavery, and exploitation.
  • The Moral Cost: Harari discusses capitalism’s complicity in tragedies like the Atlantic slave trade and Congo genocide.
  • Sustainability Crisis: Capitalism’s promise of infinite growth faces limits on a finite planet.

The Dark Side: Exploitation and Indifference

The same capitalist drive that built industries and lifted living standards also fueled atrocities when profit trumped humanity. Harari highlights how markets, left unchecked, became indifferent to suffering—prioritizing growth and shareholder returns above all else.

Conclusion: The Limits of Growth

Chapter 16 of Sapiens challenges us to reconsider capitalism’s promises and dangers. Has the belief in endless growth brought more progress or peril? And can this creed survive as the planet’s limits close in? For deeper insight, watch the full video above and subscribe to Last Minute Lecture for every Sapiens chapter!

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