The Small Business Radio Show
#831 Senator Phil Gramm Debunks the Seven Great Myths of American Capitalism
May 19, 2025
23:33
What role should the government play in small business owners economic life? It seems that with the Trump tariffs are at tax that the government is putting on all our lives, but should it just stay out of it?
My next guests argue that that the evidence points to that government interference and failed policies pose the most significant threat to economic freedom.
Senator 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. Senator Gramm is a Visiting Scholar at the American Enterprise Institute.
I also talk with Donald J. Boudreaux who 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.
They have a new book called “The Triumph of Economic Freedom: Debunking the Seven Great Myths of American Capitalism”.
Here is what we discussed:
The genesis myth: the industrial revolution impoverished workers
The progressive era regulation: the myth and the history
The myth that the great depression was a failure of capitalism
The myth of trade hollowing out American manufacturing
The financial crisis myth: deregulation caused the financial crisis
The myth and reality of income inequality in America
The myth that poverty is a failure of American capitalism
Become a supporter of this podcast: https://www.spreaker.com/podcast/the-small-business-radio-show--3306444/support.
My next guests argue that that the evidence points to that government interference and failed policies pose the most significant threat to economic freedom.
Senator 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. Senator Gramm is a Visiting Scholar at the American Enterprise Institute.
I also talk with Donald J. Boudreaux who 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.
They have a new book called “The Triumph of Economic Freedom: Debunking the Seven Great Myths of American Capitalism”.
Here is what we discussed:
The genesis myth: the industrial revolution impoverished workers
The progressive era regulation: the myth and the history
The myth that the great depression was a failure of capitalism
The myth of trade hollowing out American manufacturing
The financial crisis myth: deregulation caused the financial crisis
The myth and reality of income inequality in America
The myth that poverty is a failure of American capitalism
Become a supporter of this podcast: https://www.spreaker.com/podcast/the-small-business-radio-show--3306444/support.
