The Political Orphanage This Book Will Upset Your Textbook
35 snips
May 22, 2025 
Former senator Phil Gramm, a key voice in American economic policy, teams up with economist Don Boudreaux to debunk persistent myths about capitalism. They tackle misconceptions like the supposed doom of the Industrial Revolution and the misattributed blame on deregulation for financial crises. The discussion emphasizes the importance of competition in markets and critiques ineffective government interventions. They also explore how historical narratives shape our economic beliefs, urging a more nuanced understanding of capitalism's benefits.
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Dickens' Childhood and Industrial Poverty
- Charles Dickens experienced firsthand the hardships of the Industrial Revolution through his family's financial troubles and factory work as a child.
- His writings portrayed urban poverty and prison conditions, influencing public perception though most urban poor actually improved from rural poverty.
Industrial Revolution Alleviated Poverty
- The Industrial Revolution alleviated poverty for the rural poor by raising real wages and living standards.
- It made poverty more visible, confronting the well-to-do with urban realities previously hidden.
Victorian Economic Class Conflict
- The economic conflict of the Victorian era was between the old landed gentry and rising industrialists, not simply rich versus poor.
- The landed gentry resented industrialists for disrupting the feudal order and promoted nostalgic views of rural life.
