5 • 951 Ratings
🗓️ 22 May 2025
⏱️ 85 minutes
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Conventional wisdom is brimming with economic myths: the Industrial Revolution impoverished the masses; bobber barons were the scourge of the Gilded Age; the Great Recession was caused by irresponsible deregulation.
Senator Phil Gramm and economist Don Boudreaux attempt to set the record straight in their new book, “The Triumph of Economic Freedom: Debunking the Seven Great Myths of American Capitalism.”
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0:00.0 | Hello and welcome to the political orphanage, a home for plucky misfits and problem solvers. |
0:14.0 | I'm your host, Andrew Heaton. |
0:19.8 | Charles Dickens was not a fan of the Industrial Revolution. |
0:23.6 | In a Walk in a Workhouse, written in 1850, he described the congregation as follows. |
0:29.6 | Mumbling, bleary-eyed, spectacled, stupid, deaf, lame, vacantly winking in the gleams of sun that now and then crept in through the open doors |
0:40.0 | from the paved yard, shading their listening ears or blinking eyes with their withered hands, |
0:46.3 | pouring over their books, leering at nothing, going to sleep, crouching and drooping in corners. |
0:52.5 | There were weird old women, all skeleton within, all bonnet and cloak |
0:57.7 | without, continually wiping their eyes with dirty dusters of pocket-handkerchiefs, and there were ugly |
1:04.0 | old crones, both male and female, with a ghastly kind of contentment upon them, which was not at all comforting to see. |
1:12.7 | On that tour, he visits a room, a purgatory of sorts, according to him, |
1:17.5 | with eight lunatic women ranting to one another under the supervision of one sane resident. |
1:22.7 | And in their midst, a rather unfortunate 20-something, who was perfectly sane but suffered from epileptic |
1:28.8 | fits, so had been imprisoned there in the room full of lunatics, where she bitterly complained |
1:33.5 | about how difficult it was to sleep amidst the ranting. Dickens said of her, if this girl had |
1:39.3 | stolen her mistress's watch, I do not hesitate to say she would in all probability have been infinitely |
1:45.7 | better off. We've come to this absurd, this dangerous, this monstrous past that the dishonest |
1:52.0 | felon is in respect of cleanliness, order, diet, and accommodation better provided for |
1:58.3 | and taken care of than the honest Popper. |
2:02.0 | In other words, there in Victorian England, it was better to be in prison than in poverty. |
2:08.6 | Dickens is kind of the poet laureate of cruelty and poverty in this era, and he came by it honestly. |
2:16.1 | His father had been in some financial trouble and got sent to |
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