Let People Prosper Debunking the Myths of Capitalism with Dr. Don Boudreaux | Let People Prosper Show Ep. 175 đď¸
Nov 20, 2025
Dr. Don Boudreaux, an economics professor at George Mason University and defender of free markets, joins the discussion to debunk common myths of capitalism. He challenges the idea that globalization harms the middle class and reveals that higher tariffs actually hinder industrial growth. Boudreaux emphasizes the importance of open trade for economic success and argues that technology, rather than trade, drives manufacturing job losses. With a blend of historical insight and economic clarity, he makes a compelling case for the benefits of economic freedom.
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How A Gasoline Line Sparked A Career
- Donald Boudreaux discovered economics after waiting in 1973 gasoline lines and learning price controls in a class in 1977.
- That one class and mentors led him to pursue a lifelong career teaching and defending economic liberty.
Family Values Shaped His Views
- Donald Boudreaux grew up in a hardworking, proud Louisiana family where no one favored charity and everyone worked.
- His parentsâ values of responsibility and self-reliance shaped his embrace of classical liberalism.
The Hollowing-Out Myth Is False
- The âhollowing outâ story about U.S. industry and middle-class decline is false according to long-run data on industrial output and wages.
- Trade deficits often reflect global capital flow into the U.S. and strengthen the economy rather than signal national failure.
