Free Markets & Limited Government: Lessons from the Founding Fathers for Today - EP218

The economic philosophy of America's Founding Fathers was centred around individual rights, limited government intervention, and a largely free market. In EP218 of Economics Explored, host Gene Tunny interviews John Nantz about his book, "Rediscovering Republicanism." John discusses the insights of the United States Founding Fathers, such as Ben Franklin and Thomas Jefferson, and how their ideas on limited federal power and local governance are still relevant today. John argues that the country needs to remember these insights and explore how we can apply them to our current situation. Gene asks John, among other questions, how the Founding Fathers tried to reconcile their beliefs with the slavery that existed in the Southern states.

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About this episode’s guest John Nantz

John Nantz is a Stanford-educated, McKinsey-trained strategy consultant and author of Rediscovering Republicanism. Through his book, John re-introduces Americans, particularly younger ones, to the inspiring founding values and ideas of their country. Also, based on his book, John started a highly popular TikTok series on American history that has earned over 4 million views. 

What’s covered in EP218

• Rediscovering Republicanism's founding vision and values. (0:03)
• Rediscovering American republicanism and its values. (2:25)
• US history and political system. (7:21)
• US Constitution and citizen power. (10:23)
• The economic vision of the US Founding Fathers. (15:01)
• The Founding Fathers' views on slavery and the Constitution. (20:04)
• Slavery and political representation in the US Constitution. (25:04)
• US government role and individual rights. (30:05)
• Federalism, welfare programs, and state roles. (36:22)
• Poverty, government role, and healthcare in the US. (40:44)
• Healthcare and retirement systems in Australia and the US. (48:05)

Takeaways

• The founders of the United States had a vision of limited central government power, with a focus on individual rights, state governments, and civil society taking on more responsibility for problem-solving.
• The current state of the United States has deviated from this vision, with a significant expansion of federal government power and involvement in various areas such as social welfare and education.
• John Nantz argues for a rediscovery of republicanism and a return to the original vision of the founders, with a focus on individual rights, competitive federalism, and a reduced role for the federal government in areas such as welfare programs. The author suggests that this approach could lead to better outcomes and more innovation in addressing complex social issues.

Links relevant to the conversation

Amazon page for John’s book Rediscovering Republicanism:

https://www.amazon.com.au/Rediscovering-Republicanism-Renewing-America-Founding/dp/0761872337

Thanks to Obsidian Productions for mixing the episode and to the show’s sponsor, Gene’s consultancy business www.adepteconomics.com.au. 

Full transcripts are available a few days after the episode is first published at www.economicsexplored.com.