The History Podcast Invisible Hands: 2. The Mad Monk
Apr 2, 2025
A nervous politician's journey transforms him into an ideological warrior for free markets, facing hecklers and hostility across Britain. From post-war struggles to Thatcher's rise, the episode traces pivotal shifts in political thought. It highlights the economic turmoil of the 70s, the emergence of radical ideas, and their lasting influence. As Donald Trump's ideals threaten global economics, the discussion questions whether free markets will endure or if a new era is dawning.
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Keith Joseph's Nervous Interview
- Keith Joseph was so nervous before his Panorama interview that he asked the driver to stop so he could vomit by the roadside.
- This interview was pivotal as he aimed to argue that getting government off people's backs was the solution to Britain's problems.
Joseph's Damascene Conversion
- Keith Joseph shifted from supporting government intervention to believing it generally makes a mess and does too much badly.
- His solution was to hand back decision-making power from government to free individuals through the market.
Student Shift to Free Market
- Student David Willits shifted from youthful interest in socialism and communism to embracing free market ideas after hearing Keith Joseph.
- He became a devoted free marketeer, believing it promised a better society with greater freedom.