The Michael Shermer Show

The Myths of American Capitalism Explained


Listen Later

Since the dawn of the Industrial Revolution, capitalism has unleashed unimaginable growth in opportunity and prosperity. And yet, at key points in American history, economic disruption has led to a greater role for government, ostensibly to protect against capitalism’s excesses. Today, government regulates, mandates, subsidizes and controls a growing share of the American economy.

Today on the show, retired U.S. Senator Phil Gramm, one of America’s premier public policy advocates, and noted economist Donald J. Boudreaux look at the seven events and issues in American history that define, for most Americans, the role of government and how the 21st century world works. To many, these 5 periods of American history—the Industrial Revolution, Progressive Era, Great Depression, decline of America’s postwar preeminence in world trade, and the Great Recession—along with the existing levels of income inequality and poverty, represent strong evidence for expanding government in American life. Gramm and Boudreaux argue that the evidence might point to a contrary verdict.

Phil Gramm served six years in the U.S. House of Representatives and eighteen years in the U.S. Senate where he was Chairman of the Banking Committee. Gramm is a Visiting Scholar at the American Enterprise Institute. He was Vice Chairman of UBS Investment Bank and is now Vice Chairman of Lone Star Funds. He taught Economics at Texas A&M University and has published numerous articles and books.

Donald J. Boudreaux is an American economist, author, professor, and co-director of the Program on the American Economy and Globalization at the Mercatus Center at George Mason University in Fairfax, Virginia. His writings have appeared in The New York Times, Wall Street Journal, Investor’s Business Daily, The Washington Times, and many scholarly publications.

Their new book is The Triumph of Economic Freedom: Debunking the Seven Great Myths of American Capitalism.

...more
View all episodesView all episodes
Download on the App Store

The Michael Shermer ShowBy Michael Shermer

  • 4.4
  • 4.4
  • 4.4
  • 4.4
  • 4.4

4.4

862 ratings


More shows like The Michael Shermer Show

View all
Closer To Truth by Closer To Truth

Closer To Truth

243 Listeners

The Glenn Show by Glenn Loury

The Glenn Show

2,257 Listeners

Making Sense with Sam Harris by Sam Harris

Making Sense with Sam Harris

26,350 Listeners

Conversations with Tyler by Mercatus Center at George Mason University

Conversations with Tyler

2,394 Listeners

Uncomfortable Conversations with Josh Szeps by Josh Szeps

Uncomfortable Conversations with Josh Szeps

832 Listeners

Into the Impossible With Brian Keating by Big Bang Productions Inc.

Into the Impossible With Brian Keating

1,044 Listeners

The Good Fight by Yascha Mounk

The Good Fight

890 Listeners

Sean Carroll's Mindscape: Science, Society, Philosophy, Culture, Arts, and Ideas by Sean Carroll | Wondery

Sean Carroll's Mindscape: Science, Society, Philosophy, Culture, Arts, and Ideas

4,129 Listeners

Quillette Podcast by Quillette

Quillette Podcast

805 Listeners

Within Reason by Alex J O'Connor

Within Reason

1,514 Listeners

The Origins Podcast with Lawrence Krauss by Lawrence M. Krauss

The Origins Podcast with Lawrence Krauss

488 Listeners

Blocked and Reported by Katie Herzog and Jesse Singal

Blocked and Reported

3,752 Listeners

Theories of Everything with Curt Jaimungal by Theories of Everything

Theories of Everything with Curt Jaimungal

459 Listeners

The Poetry of Reality with Richard Dawkins by Richard Dawkins

The Poetry of Reality with Richard Dawkins

80 Listeners

Conversations With Coleman by The Free Press

Conversations With Coleman

229 Listeners