William Henderson and B. McGraw talk about trade and industry. When did neoliberalism first start? What are the pros and cons of trade? This is Part 1 of 2 episodes.
We first discuss the history of economic systems. Then we start with a discussion about feudalism, starting in the late Roman Era. We then discuss the transition from feudalism to mercantilism, as European empires expanded their economies beyond the localized feudal system. Following this, we discuss the shift to modern economic theories, starting with Adam Smith’s “The Wealth of Nations”
Then, we discuss the industrial history of the United States. We first discuss the industrialization of the country, and why this largely took place in the Northeast and eastern Midwest. Then, we talk about deindustrialization, why this happened, and when it started happening. Following this, we discuss some of the history of the politics of free market capitalism, and how the two parties have shifted in terms of their views toward free trade.
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1:22 Good Economics Bad Economics
8:23 Diocletian & feudalism
11:01 Mercantilism
15:10 Neoliberalism
18:16 Industrialization in the United States
22:44 Deindustrialization (2)
27:00 Politics of free trade (2) (3)
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