Podcasts about Industrial Revolution

Virtually everyone -- sadly, even on the right these days -- believes things that are demonstrably false about the Industrial Revolution, inequality, trade, poverty, and plenty more. Former US Senator (and economics professor) Phil Gramm joins us to correct the record. Sponsors: Go to OmahaSteaks.com and use Promo Code WOODS at checkout for an extra $35 off. Minimum purchase may apply. See site for details. A big thanks to our advertiser, Omaha Steaks! + Bank on Yourself Book Discussed: The Triumph of Economic Freedom: Debunking the Seven Great Myths of American Capitalism Show notes for Ep. 2657

Does capitalism deserve its bad rap? Zachary and Emma speak with John Cassidy, longtime staff writer at The New Yorker and author of several acclaimed books on economics, including his recent work, Capitalism and Its Critics: A History from the Industrial Revolution to AI. He discusses the current sentiment on capitalism along with historical context and a look to the future. John also elaborates on the “arms race” within the AI industry, the impact of climate change on today's economics, and the financial shock of recent globalization. What Could Go Right? is produced by The Progress Network and The Podglomerate. For transcripts, to join the newsletter, and for more information, visit: theprogressnetwork.org Watch the podcast on YouTube: ⁠⁠⁠https://www.youtube.com/theprogressnetwork⁠⁠⁠ And follow us on X, Instagram, Facebook, TikTok: @progressntwrk Learn more about your ad choices. Visit megaphone.fm/adchoices

At a time when debates over tariffs, regulation, and the scope of government are back at center stage. Is this time in American history unprecedented, or can we find parallels in the past? For example, has trade “hollowed out” U.S. manufacturing—or have fact tariffs like the Corn Laws in Britain hurt working-class families the most? Was the Great Depression a failure of capitalism—rather than a policy crisis worsened by poor monetary responses and overreach? Today’s guest is Phil Gramm, a former U.S. Senator and author of “The Triumph of Economic Freedom.” We look at five periods of American history—the Industrial Revolution, Progressive Era, Great Depression, decline of America’s postwar preeminence in world trade, and the Great Recession—along with the existing levels of income inequality and poverty, leads many to believe in expanding government in American life. Gramm argues that the evidence points to a contrary verdict: government interference and failed policies pose the most significant threat to economic freedom.See omnystudio.com/listener for privacy information.

Expleo, the global technology, engineering and consulting service provider, today launches its Business Transformation Index 2025. To mark the launch, Expleo is revealing new data showing that 70% of Ireland's largest enterprises believe AI's impact on workforces is so profound that it should be managed like an employee to avoid conflicts with company culture and people. The sixth edition of Expleo's award-winning Business Transformation Index (BTI) assesses the attitudes and sentiments of 200 IT and business decision-makers in Ireland, in enterprises with 250 employees or more. The report examines themes including digital transformation, geopolitics, AI and DEI and provides strategic recommendations for organisations to overcome challenges relating to these. BTI 2025 found that while 98% of large enterprises are using AI in some form, 67% believe their organisation can't effectively use AI because their data is too disorganised. As a result, just 30% have integrated and scaled AI models into their systems. Almost a quarter (23%) admitted that they are struggling to find use cases for AI beyond the use of off-the-shelf large language models (LLMs). Despite remaining in the early stages of AI deployment, senior decision-makers are already making fundamental changes to the skills makeup of their teams due to AI's influence and its capabilities. Expleo's research found that 72% of organisations have made changes to the criteria they seek from job candidates because AI can now take on some tasks, while its application requires expertise in other areas. Meanwhile, more than two-thirds (68%) of enterprises who are deploying AI have stopped hiring for certain roles entirely because AI can handle the requirements. The research shows that as AI absorbs tasks in some areas, it is offering workforce opportunities in others. While 30% of enterprise leaders cite workforce displacement as one of their greatest fears resulting from AI, 72% report that they will pay more for team members who have AI-specific skills. The colliding worlds of humans and machines are further revealed in BTI 2025 as 78% of organisations say the correct and ethical use of AI is now covered in their employment contracts. However, the BTI indicates that employers themselves may not be living up to their side of the bargain, as 25% of business and IT leaders conceded a possibility that the AI used for hiring, retention or employee progression in their organisation could be biased. The uncertainty about the objectivity of their AI could explain why 25% of decision-makers are also not confident that their organisation is compliant with the EU AI Act. The Act, it seems, is a bone of contention for many as 76% believe the EU AI Act will hinder adoption of AI in their organisation. Phil Codd, Managing Director, Expleo Ireland, said: "The pace of change that we are seeing from AI is like nothing we have seen before - not even the Industrial Revolution unfolded so quickly or indiscriminately in terms of the industries and people it impacted. And, the workforce's relationship with AI is complicated - on the one hand, they are turning to AI to make their jobs more manageable and to reduce stress, but at the same time, they worry that its broad deployment across their organisation could impinge on their work and therefore their value as an employee. "Business leaders are entering untrodden ground as they try to solve how AI can work for them - both practically and ethically - and without causing clashes within teams. There is no question that there is a new digital colleague joining Irish workplaces and it will define the next chapter of our working lives and economy. However, the success of this seemingly autonomous technology will always depend on the humans and data that back it up. "At Expleo, we work with enterprises to ensure they are reaping the benefits of AI by looking holistically at their people, processes and data. AI requires, and will bring, significant changes...

  American whale oil lit the world. The Industrial Revolution couldn't have happened without it. Connecticut was part of the whaling industry of the nineteenth century that sent thousands of American ships manned by tens of thousands of men to hunt whales across the world's oceans. Stonington, Mystic, New London, and New Haven were part of New England's predominance in successful  whaling. In fact, New London, Connecticut is known today as the “Whaling City”.    My guest Eric Jay Dolan  is the author of sixteen award-winning books on maritime history. In this episode, we will be talking about the history of American whaling taken from his work in Leviathan The History of Whaling in America published in 2007 byW.W. Norton Press.  His latest book, is Left for Dead: Shipwreck, Treachery, and Survival at the Edge of the World. Dolin lives in Marblehead, Massachusetts.   Note: Listeners may find this  episode disturbing. Whaling was a brutal trade - we are describing the industry in its historic context.   To find out more about the other books that Eric has written, go to his website:  www.ericjaydolin.com/   His website also has information on upcoming events he's doing and contact information. He is available for book talks and lectures both in person and remotely.    You'll find the link to the New Bedford Whaling National Historical Park here: www.nps.gov/nebe/index.htm   Don't forget that our August 1st episode will feature Mystic Seaport's new whaling exhibit.   ----------------------------------------------------- Like Grating the Nutmeg? Want to support it? Make a donation! 100% of the funds from your donation go directly to the production and promotion of the show. Go to ctexplored.org to send your donation now.   This episode of Grating the Nutmeg was produced by Mary Donohue and engineered by Patrick O'Sullivan at highwattagemedia.com/   Follow GTN on our socials-Facebook, Instagram, Threads, and BlueSky.   Follow executive producer Mary Donohue on Facebook and Instagram at WeHa Sidewalk Historian. Join us in two weeks for our next episode of Grating the Nutmeg, the podcast of Connecticut history. Thank you for listening!  

In this Telugu Podcast episode, Srikanth Varma from Scaler sits down with us to confront the raw, uncomfortable realities students and parents are grappling with today. He doesn't just describe the problem; he breaks it down, offers fresh perspectives, and shows us how to rebuild from the ground up. Why do students spend lakhs on a BTech or BCom degree, and only end up with jobs paying ₹10,000–₹20,000 a month? Is the fault in our education system, outdated curriculum, or something deeper? Srikanth begins by taking us through history, highlighting how every major revolution, from the Industrial Revolution to the rise of the internet, and now the evolution of AI, initially led to job fears, but eventually created far more opportunities than they destroyed. The fear of losing jobs to automation isn't new, and neither is the solution: learning, adapting, and upgrading. He urges students to look at AI tools like ChatGPT and Gemini not as threats, but as enablers, powerful extensions of human creativity and intelligence. Instead of fearing AI, he explains how we can learn to prompt better, think deeper, and build smarter.The conversation shifts to how the current education system is failing to teach the actual skills needed in the real world, things like communication, problem-solving, collaboration, and initiative. These are the very skills companies are hiring for, not just grades or college names. He shares real success stories of students who didn't come from top-tier colleges but used projects, GitHub, self-learning, and internships to land amazing jobs. He reminds us that in 2025 and beyond, a degree might get your resume opened, but value creation is what gets you hired.Srikanth also discusses how parents play a crucial role. He says it's time to stop pushing kids into “safe” careers and start encouraging them to explore what they love. The world is shifting too fast for forced paths to work anymore. If a child is interested in startups, robotics, or music, let them go deep into it. Watch good YouTube content, follow startup founders, and use social platforms to learn. Knowledge is everywhere now, and access is free. But only those who are curious, consistent, and intentional will benefit from it.He emphasizes the urgent need for reskilling and upskilling. Referring to McKinsey reports and post-COVID workplace shifts, he explains how millions of people across industries will need to learn entirely new skills, many of which aren't taught in traditional classrooms.  The practical approach of not just teaching, but mentor, expose students to real-world problems, help them build portfolios, and guide them to think like creators, not just job seekers was discussed.  Another powerful segment is about how to find jobs even when there seem to be none. It's not just about applying, it's about positioning. Can you build in public? Can you network intelligently? Can you communicate what problems you solve? He encourages students to stop obsessing over what's missing and start focusing on what they can build, learn, or contribute today.And finally, he beautifully ties it all back to mindset. Fear will always be there, fear of AI, fear of failure, fear of rejection. But the real winners are the ones who approach problems not with panic, but with process. Those who look at a challenge and say, “What can I do right now to grow through this?”If you're a student confused about your future, a parent anxious about your child's direction, or someone lost in today's chaotic job market, this episode might be for you. It's filled with truth, hope, practical advice, and a roadmap to reinvent yourself in the age of AI, startups, and exponential change.

In this Q&A episode, I opened the Akashic Records and channeled guidance in response to a listener's question about history, architecture, and energetic shifts. What came through was surprising, and revealed important patterns we're still navigating today.  In this episode: Spiritual karaoke with Destiny's Child Trusting your instincts in relationships and life decisions Proving your worth & energetic drains Lightworkers and codependency What blocks Lightworkers from fully showing up and sharing their gifts The importance of discernment in spiritual and online spaces Akashic Records as the filter of truth Listener Q&A: Was there a historical reset in the 1800s? What happened with architecture and history during that time? The energetic influence of the Industrial Revolution  The loss of beauty, uniqueness, and sacred creativity in architecture  Why the matrix frequency promotes conformity, enmeshment, codependency, and victim consciousness  The role of artisans and creators as channels for divine intelligence and source energy Parallels between the Industrial Revolution and the rise of AI Why authenticity is everything right now How conditioning creates a culturally created self that disconnects us from our true essence The role of healing, the Akashic Records, and Reiki in helping us release layers of conditioning  How expressing individuality is what breaks us free from the matrix frequency Special Offer Mentioned: 20% off my self-study Akashic Records course The Bridge for podcast listeners with the code PORTAL66 at checkout My 1:1 Akashic Healing Journey is my closest proximity container - a 3-month experience where we combine Akashic Records guidance with Reiki energy healing to support your soul on every level. You'll receive personalized sessions, Telegram support, and channeled messages to help you heal, remember who you are, and align with your highest path. Limited spots available.  Submit a question to be answered on the podcast  Free Solar Flare Support Healing Experience   Co-creating Your Highest 2025 Timeline (free healing event replay) Free Empowered by the River of Peace Experience Replay Karuna Master, ICRT Animal Reiki Level I & II Training dates releasing soon - be sure you sign up for my newsletter to stay in the know:)  Sign up for my newsletter to stay informed on all classes, trainings, and healing experiences FREE "Meet Your Inner Child" Reiki Meditation 10% OFF All Workout Witch Programs for somatic healing with code ORACLELIGHTWORKER at checkout Get a free sample pack of LMNT with your order Connect with me:  me 1:1 for a personal healing session & guidance (Akashic Reiki Sessions) Book Here   Instagram: @oraclelightworker Email: oraclelightworkerhealing@gmail.com Website: www.oraclelightworker.podia.com    

Caleb O. Brown hosted the Cato Daily Podcast for nearly 18 years, producing well over 4000 episodes. He has gone on to head Kentucky's Bluegrass Institute. This is one among the best episodes produced in his tenure, selected by the host and listeners.Textiles are everywhere, and before the Industrial Revolution, even tiny advances in textile development had massive ripple effects. Virginia Postrel traces this amazing history in The Fabric of Civilization: How Textiles Made the World. Hosted on Acast. See acast.com/privacy for more information.

Mexico: The Ultimate Welfare State. PLUS, Todd Sheets, author of the newsletter On Wealth and Progress, tells Shaun that he thinks the AI Revolution will rival the Industrial Revolution and agrees that the BBB doesn't go far enough to cut spending, but also emphasizes the need to pass it to avoid the largest tax increase in history. And Scott Wilder, spokesman for Pre-Born, tells Shaun about Pre-Born's mission to provide FREE ultrasounds to women in crisis pregnancy centers. Donate TODAY to save one baby's life for just $28!See omnystudio.com/listener for privacy information.

AI is causing a big disruption but the number 1 investment you can make in AI is learn it before you get left behind! Today we talk on the cultural, societal, and economic disruption caused by AI, comparing its transformative potential to that of the industrial age. While traditional frameworks—like working for purpose, identity, and productivity—are deeply ingrained in modern life, AI is rapidly eroding these norms by replacing jobs and altering what it means to be valuable in the workforce. Despite the uncertainty and anxiety around obsolescence, the best current investment is learning how to effectively use AI—not just dabble in it, but truly understand and apply it—as this will separate the empowered from the obsolete in the coming years. We discuss... AI is positioned as a disruptive force akin to the Industrial Revolution, challenging long-standing societal frameworks. Modern systems—from schools to corporations—are still rooted in Industrial Age models built for efficiency, not creativity. Innovation comes from the small percentage of society willing to think differently, even if they seem eccentric. AI represents a fundamental shift in how we think about productivity, identity, and purpose. Most people need purpose, and work has traditionally served that function—AI may disrupt this connection. People who understand how to use AI will replace those who don't, creating waves of obsolescence. The rise of AI may force society into an identity crisis as traditional roles and functions disappear. Many people won't be able to re-skill fast enough to keep up with AI's rapid displacement of labor. Investing in AI is challenging because major players are private or already priced for perfection. The best AI investment today is learning how to use it yourself to create value directly. AI can replace high-salary roles with low-cost automation—great for businesses, threatening for workers. Replicating your brain in AI gives you a major edge in decision-making and productivity. Privacy concerns are fading as people get used to sharing personal data with AI for performance gains. Investing in your understanding of AI is the most valuable thing you can do today. AI is easy to use—success comes down more to willingness than difficulty. Human interaction is the hardest part of work for AI to replicate. AI futures range from utopian to dystopian—avoid extreme views and prepare with skills instead. The Elon Musk–Donald Trump "bromance breakup" shows how political and business alliances can impact markets. “Second-level thinking” is crucial to interpreting events beyond surface-level headlines. For more information, visit the show notes at https://moneytreepodcast.com/1-investment-you-can-make-in-ai Today's Panelists: Kirk Chisholm | Innovative Wealth Barbara Friedberg | Barbara Friedberg Personal Finance Phil Weiss | Apprise Wealth Management Douglas Heagren | Pro College Planners Megan Gorman | The Wealth Intersection Tim Baker | Metric Fin Jeff Hulett | Finance Revamp Follow on Facebook: https://www.facebook.com/moneytreepodcast Follow LinkedIn: https://www.linkedin.com/showcase/money-tree-investing-podcast Follow on Twitter/X: https://x.com/MTIPodcast  

Todd Sheets, author of the newsletter On Wealth and Progress, tells Shaun that he thinks the AI Revolution will rival the Industrial Revolution and agrees that the BBB doesn't go far enough to cut spending, but also emphasizes the need to pass it to avoid the largest tax increase in history.See omnystudio.com/listener for privacy information.

As the world confronts the urgent challenge of removing billions of tons of carbon dioxide from the atmosphere, breakthrough innovation is essential to scale solutions fast enough to meet global climate goals. On this episode of Earth911's Sustainability in Your Ear, discover the groundbreaking results of the $100 million XPRIZE Carbon Removal competition, a four-year competition among 1,300 teams from 88 countries that represents one of the most ambitious efforts to catalyze carbon removal innovation. We're joined by Nikki Batchelor, Executive Director of XPRIZE Carbon Removal, and Michael Leitch, Senior Technical Lead for the competition, to discuss what may be one of the most consequential moments in carbon removal innovation to date. They discuss how the competition's $100 million scope and multi-year timeline attracted breakthrough solutions and outline plans for continued engagement with the winning teams as they scale their innovations.[Kenya-based Mati Carbon claimed the $50 million grand prize with an enhanced rock weathering approach that spreads finely ground volcanic rock on farmland, simultaneously capturing atmospheric carbon while improving soil health for local farmers. Mati Carbon's victory wasn't just about technical innovation; it demonstrated a cost-effective approach that delivers multiple benefits in Kenya and India's smallholder farming communities. Three runners-up—NetZero, Vaulted Deep, and UNDO—each received $5 million for their distinct approaches, which spanned biochar production, underground carbon storage, and large-scale mineral spreading.In 2024 alone, humans released 41.6 billion tons of CO2 into the atmosphere, adding to approximately 1.5 trillion tons emitted since the Industrial Revolution. Current carbon removal projects operate at a kiloton scale and must rapidly expand to millions of tons annually. The goal isn't merely offsetting new emissions—it's achieving net-negative emissions to reverse the climate damage already done, albeit slowly. Learn more about the XPRIZE Carbon Removal competition and other grand challenges at xprize.org. Watch the documentary series about the competition and winners on the XPRIZE Carbon Removal YouTube channel.Subscribe to Sustainability In Your Ear on iTunesFollow Sustainability In Your Ear on Spreaker, iHeartRadio, or YouTube

We're living through truly extraordinary times—not simply because things are changing, but because of how breathtakingly fast those changes are happening. Take artificial intelligence: it's no longer some futuristic buzzword from a sci-fi movie; it's already reshaping our lives, economies, and even how we relate to each other. But here's what's really mind-blowing: artificial general intelligence is just around the corner. This isn't the kind of gradual innovation we're used to—it's a complete overhaul. AGI promises to rewrite the rules of entire industries practically overnight, delivering changes more profound and rapid than anything humanity has ever experienced. Forget the Renaissance, the Industrial Revolution, or even the dawn of the internet—this transformation could eclipse them all, and do it faster than any of us can imagine. Parallel to the AI revolution, Bitcoin has had its own remarkable story. Just a little over a decade ago, it was an obscure digital experiment—dismissed by mainstream finance as a tech nerd's hobby, virtual Monopoly money with no real-world impact. Fast-forward to today, and Bitcoin has completely transformed. Countries like El Salvador now officially recognize Bitcoin as legal tender. Sovereign wealth funds—from Singapore to the Middle East—are quietly stacking it into their national reserves. Big corporations like MicroStrategy have turned conventional treasury management upside down, boldly choosing Bitcoin as their primary reserve asset. Bitcoin's journey from fringe curiosity to essential financial infrastructure underscores a major shift in how we store, exchange, and even define value worldwide. And it's not just technology and finance that are seeing these seismic shifts; geopolitics and economic strategies are also entering uncharted waters. With the Trump administration back in power, we're witnessing a total rewrite of the traditional economic playbook. Tariffs, once cautiously applied economic tools, are now wielded boldly, reshaping global alliances and challenging decades-old partnerships. Long-standing allies like Canada and Europe now find themselves in more transactional relationships, while surprising new economic partnerships emerge based purely on pragmatism. This rapidly evolving landscape is generating unprecedented uncertainty—but also enormous opportunity. So how do you make sure you end up on the winning side of this historic transformation? By actively educating yourself, staying ahead of the curve, and positioning yourself to prosper. I've always made it my mission to anticipate where things are headed—and more importantly, to share that vision with you. Back in 2017, I first introduced Bitcoin to you when it traded below $5K. Today, with Bitcoin over $100K, I'm more convinced than ever that we'll see it hit $1 million within the next five years. The conversations I'm having make it seem inevitable. It's those conversations you need to be a part of—either having them yourself or listening to them through podcasts like mine. A good place to start is this week's Wealth Formula Podcast, where I talk with Anthony Pompliano, better known as Pomp.

The Lincoln Project’s Stuart Stevens parses Elon and Trump’s breakup and the case for nationalizing SpaceX and Starlink. The New Yorker’s John Cassidy details his book Capitalism and Its Critics: A History — From the Industrial Revolution to AI.See omnystudio.com/listener for privacy information.

9:05 – 9:22 (15mins) Douglas Ernest Author: The Spirit of a True Patriot: The Inspiring Story of Ret. Captain Douglas J. ErnestRussia/Ukraine war intensifies day before peace talks 9:25 – 9:37 (12mins) Weekly Feature: to Play “THE BEE OR, NOT THE BEE!!” with Paul Curtman @paulcurtman prcurtman.com 9:41 – 9:56 (15mins) 9:41 – 9:56 (15mins) Dr. Bonner CohenBio-https://www.cfact.org/bonner-cohen/ @CFACT cfact.orgGeothermal Energy: Another Nail in the Coffin of Wind and Solar Power?By Bonner Russell CohenAs if the resurgence of fossil fuels and the realistic prospect of a renaissance of nuclear energy in the U.S. were not enough, purveyors of intermittent and subsidy-dependent wind and solar power may be facing another challenge, this one emanating from heat stored deep beneath the earth’s surface. The global AI arms race, with its extraordinary demands for gobs of electricity to power ever-proliferating data centers, has been a black swan for green energy. Unable to deliver the continuous flow of power demanded by the 21st century’s Industrial Revolution, green energy’s best days appear to be behind it. See omnystudio.com/listener for privacy information.

waarin we samen met twee bekende nerds onderzoeken waarom en hoe een eerste industriële revolutie Europa grondig transformeert. I.s.m. Hetty Helsmoortel en Lieven Scheire (Nerdland Maandoverzicht podcast).WIJ ZIJN: Jonas Goossenaerts (inhoud en vertelstem), Filip Vekemans (montage), Benjamin Goyvaerts (inhoud) en Laurent Poschet (inhoud).MET BIJDRAGEN VAN: Hetty Helsmoortel en Lieven Scheire (Nerdland Maandoverzicht podcast), Laurens Luyten (literaire bespiegelingen).WIL JE ONS EEN FOOI GEVEN? Fooienpod - Al schenkt u tien cent of tien euro, het duurt tien seconden met een handige QR-code.WIL JE ADVERTEREN IN DEZE PODCAST? Neem dan contact op met adverteren@dagennacht.nlMEER WETEN? Onze geraadpleegde en geciteerde bronnen:Altena, B., Van Lente, D. (2011). Vrijheid en Rede. Geschiedenis van westerse samenlevingen, 1750-1989. Uitgeverij Verloren. Hilversum.Bleyen, J. e.a. (2016). Memoria 5/6. Pelckmans. Kalmthout.Deneckere, G., De Wever, B., De Paepe, T. (2020). Een geschiedenis van België. Lannoo. Tielt.Draye, G. (2009). Passages. De negentiende eeuw. Averbode. Best.De Deygere, R. e.a. (2008). Historia 5. Pelckmans. Kapellen.Evans, R. J. (2016). The pursuit of power: Europe 1815–1914. Viking. New York.Hobsbawm, E. J. (1988). The age of revolution: Europe 1789–1848. Abacus. Londen.Horn, J. (2016). The Industrial Revolution: History, documents, and key questions. ABC-CLIO. New York.Osterhammel, J. (2022). De metamorfose van de wereld. Een miondiale geschiedenis van de 19de eeuw. Atlas Contact. Amsterdam.Criado, M.A. (2024). "Industrialisation began in Britain a century before the Industrial Revolution." https://english.elpais.com/international/2024-04-05/industrialization-began-in-britain-a-century-before-the-industrial-revolution.html El Païs - Geraadpleegd op 30/05/2025.Lammer, L. (2019). "Vertraging op de lijn Brussel-Mechelen." www.standaard.be/nieuws/vertraging-op-de-lijn-brussel-mechelen/47877211.html De Standaard. Geraadpleegd op 30/05/2025.Canon van Vlaanderen: de eerste treinrit. www.canonvanvlaanderen.be/events/de-eerste-treinrit/ Geraadpleegd op 30/05/2025.PROMO SURFSHARK: Surf naar surfshark.com/gvh en krijg vier extra maanden Surfshark. Je zit nergens aan vast dankzij de 30-dagen geld-terug-garantie. Zie het privacybeleid op https://art19.com/privacy en de privacyverklaring van Californië op https://art19.com/privacy#do-not-sell-my-info.

Since the dawn of the Industrial Revolution, capitalism has unleashed unimaginable growth in opportunity and prosperity. And yet, at key points in American history, economic disruption has led to a greater role for government, ostensibly to protect against capitalism's excesses. Today, government regulates, mandates, subsidizes and controls a growing share of the American economy. Today on the show, retired U.S. Senator Phil Gramm, one of America's premier public policy advocates, and noted economist Donald J. Boudreaux look at the seven events and issues in American history that define, for most Americans, the role of government and how the 21st century world works. To many, these 5 periods of American history—the Industrial Revolution, Progressive Era, Great Depression, decline of America's postwar preeminence in world trade, and the Great Recession—along with the existing levels of income inequality and poverty, represent strong evidence for expanding government in American life. Gramm and Boudreaux argue that the evidence might point to a contrary verdict. 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. Gramm is a Visiting Scholar at the American Enterprise Institute. He was Vice Chairman of UBS Investment Bank and is now Vice Chairman of Lone Star Funds. He taught Economics at Texas A&M University and has published numerous articles and books. Donald J. Boudreaux 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. His writings have appeared in The New York Times, Wall Street Journal, Investor's Business Daily, The Washington Times, and many scholarly publications. Their new book is The Triumph of Economic Freedom: Debunking the Seven Great Myths of American Capitalism.

Imagine a world where even a split-second delay could spell disaster—where lives, industries, and society itself relied on the precision of a pocket watch. During the Industrial Revolution, this was not a distant threat but a daily reality. Once a symbol of luxury, pocket watches became indispensable tools for train conductors, factory managers, and industrial workers. These meticulously crafted timepieces weren't just about telling time—they were the backbone of progress, ensuring coordination and safety as factories hummed and railroads expanded across nations.

During Washington Post Live's 'Post Next: Manufacturing' event on Thursday, May 15, 2025, The Post's David J. Lynch spoke with Barbara Humpton, president and CEO of Siemens Corporation about the future of manufacturing and how AI could bring about what she calls the "fourth industrial revolution." Event sponsored by Samsung.

It's “Nvidia Day!” The Big Dog in the Tall Grass for AI reports earnings after the closing bell today. Lance Roberts & Danny Ratliff delve into the anticipation surrounding Nvidia's upcoming earnings report, set to be released after today's market close. We'll explore market expectations, potential impacts on NVDA stock, and the broader implications for the AI and semiconductor sectors. Also a discussion about the inimitable Mrs. Roberts, and the profound changes AI is poised to wrought on global industries. Is the 4% Rule dead or just being updated? Lance bemoans the bots in our X and YouTube channels, and he and Danny review the changes afoot in advisors' recommendations for retirement savings drawdowns. SEG-1: EOM & Shifting Sentiment SEG-2a: Lance' Wife is Scary SEG-2b: Is AI the Next Leg of Industrial Revolution? SEG-3a: Retirement Income Empowerment teaser SEG-3b: Death of the 4% Rule? SEG-4a: Twitter Bots & Chatrooms SEG-4b: Changing the 4% Rule Hosted by RIA Advisors Chief Investment Strategist Lance Roberts, CIO, w Senior Financial Advisor Danny Ratliff, CFP Produced by Brent Clanton, Executive Producer ------- Watch today's video on YouTube: https://www.youtube.com/watch?v=WWSQGN1zFrg&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1 ------- Articles mention in this show: "The Anchoring Problem And How To Solve It" https://realinvestmentadvice.com/resources/blog/the-anchoring-problem-and-how-to-solve-it/ "Trump Tariffs Are Inflationary Claim The Experts" https://realinvestmentadvice.com/resources/blog/trump-tariffs-are-inflationary-claim-the-experts/ ------- The latest installment of our new feature, Before the Bell, "What is the Risk to Nvidia?" is here: https://www.youtube.com/watch?v=6KJCZut3qwU&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1 ------- Our previous show is here: "The Anchoring Problem & How to Solve It" https://www.youtube.com/watch?v=6t41x9fsYv8&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1&t=4s ------- Register for our next in-person event, "Retirement Income Empowerment Workshop," June 14, 2025: https://tracking.realinvestmentadvice.com/l/1052953/2025-05-08/ysxr ------- Get more info & commentary: https://realinvestmentadvice.com/newsletter/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #NvidiaDay #NVDA #NvidiaStock #TechStocks #StockMarketNews #MoneyFlows #Nvidia #TrumpTariffs #Inflation #MarketCorrection #MarketPullback #BuyTheDip #ReduceRisk #RaiseCash #MarketConsolidation #20DMA #50DMA #100DMA #200DMA #AnchoringBias #BehavioralFinance #CognitiveBiases #InvestmentPsychology #SmartInvesting #InvestingAdvice #Money #Investing

It's “Nvidia Day!” The Big Dog in the Tall Grass for AI reports earnings after the closing bell today. Lance Roberts & Danny Ratliff delve into the anticipation surrounding Nvidia's upcoming earnings report, set to be released after today's market close. We'll explore market expectations, potential impacts on NVDA stock, and the broader implications for the AI and semiconductor sectors. Also a discussion about the inimitable Mrs. Roberts, and the profound changes AI is poised to wrought on global industries. Is the 4% Rule dead or just being updated? Lance bemoans the bots in our X and YouTube channels, and he and Danny review the changes afoot in advisors' recommendations for retirement savings drawdowns. SEG-1: EOM & Shifting Sentiment SEG-2a: Lance' Wife is Scary SEG-2b: Is AI the Next Leg of Industrial Revolution? SEG-3a: Retirement Income Empowerment teaser SEG-3b: Death of the 4% Rule? SEG-4a: Twitter Bots & Chatrooms SEG-4b: Changing the 4% Rule Hosted by RIA Advisors Chief Investment Strategist Lance Roberts, CIO, w Senior Financial Advisor Danny Ratliff, CFP Produced by Brent Clanton, Executive Producer ------- Watch today's video on YouTube: https://www.youtube.com/watch?v=WWSQGN1zFrg&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1 ------- Articles mention in this show: "The Anchoring Problem And How To Solve It" https://realinvestmentadvice.com/resources/blog/the-anchoring-problem-and-how-to-solve-it/ "Trump Tariffs Are Inflationary Claim The Experts" https://realinvestmentadvice.com/resources/blog/trump-tariffs-are-inflationary-claim-the-experts/ ------- The latest installment of our new feature, Before the Bell, "What is the Risk to Nvidia?" is here:  https://www.youtube.com/watch?v=6KJCZut3qwU&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1  ------- Our previous show is here: "The Anchoring Problem & How to Solve It" https://www.youtube.com/watch?v=6t41x9fsYv8&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1&t=4s ------- Register for our next in-person event, "Retirement Income Empowerment Workshop," June 14, 2025: https://tracking.realinvestmentadvice.com/l/1052953/2025-05-08/ysxr ------- Get more info & commentary:  https://realinvestmentadvice.com/newsletter/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #NvidiaDay #NVDA #NvidiaStock #TechStocks #StockMarketNews #MoneyFlows #Nvidia #TrumpTariffs #Inflation #MarketCorrection #MarketPullback #BuyTheDip #ReduceRisk #RaiseCash #MarketConsolidation #20DMA #50DMA #100DMA #200DMA #AnchoringBias #BehavioralFinance #CognitiveBiases #InvestmentPsychology #SmartInvesting #InvestingAdvice #Money #Investing

Europe, once the driving force of global progress, gave birth to the Industrial Revolution, Enlightenment ideals, innovative scientific discoveries, and a cultural renaissance that shaped modern civilization. However, today, amid trade wars, geopolitical crises and industrial and technological advancements, Europe finds itself at a critical crossroads. In response to these disruptions in the global order, the European Union has announced bold investment plans in infrastructure and defence spending. But could this moment also mark the beginning of a financial renaissance, or does Europe risk falling further behind in the global race ? In this episode of 2050 Investors, Kokou Agbo-Bloua, Head of Economics, Cross-Asset & Quant Research at Societe Generale, explores the history of the European Union, its economic challenges, its remarkable resilience in emerging stronger from crises. Kokou contrasts the “European Dream” with the “American Dream”, shedding light on their respective strengths and weaknesses: individualism versus community, economic growth versus sustainability, and shareholder capitalism versus stakeholder capitalism. Later in the episode, Kokou is joined by Anne-Christine Champion, Co-Head of Global Banking and Investor Solutions at Societe Generale, for an engaging discussion about the structural challenges facing Europe. Together, they analyse the strategic wake-up call issued in Draghi's report, examining key areas such as fragmented financial markets, weak stock market culture, underutilization of €14 trillion in household savings, and regulatory complexities. Finally, they examine how solutions like advancing the Savings and Investments Union (SIU), deepening the integration of capital markets, developing securitization markets, and promoting financial education can revive the European project. This episode offers a thought-provoking examination of Europe's potential to transform challenges into opportunities and reclaim its position as a global leader in financial markets.About this showWelcome to 2050 Investors, your monthly guide to understanding the intricate connections between finance, globalisation, and ESG.Join host Kokou Agbo-Bloua, Head of Economics, Cross-Asset & Quant Research at Societe Generale, for an exploration of the economic and market megatrends shaping the present and future, and how these trends might influence our progress to meeting 2050's challenging global sustainability targets.In each episode, Kokou deep-dives into the events impacting the economy, financial markets, the planet, and society. Through a magical blend of personal anecdotes, in-depth research and narratives overlaid with music, sound effects, and pop culture references, there's certainly something for everyone.If you like 2050 Investors, please leave a five-star review on Apple Podcasts or Spotify. Your support will help us spread the word and reach new audiences. If you're seeking a brief and entertaining overview of market-related topics and their business and societal implications, subscribe now to stay informed!CreditsPresenter & Writer: Kokou Agbo-Bloua. Editors: Vincent Nickelsen, Jovaney Ashman, Linda Isker & Jennifer Krumm. Production Designer: Emmanuel Minelle, Radio K7 Creative. Executive Producer : Fanny Giniès. Sound Director: Marc Valenduc. Music: Emmanuel d'Orlando. Graphic Design: Cédric Cazaly.Whilst the following podcast discusses the financial markets, it does not recommend any particular investment decision. If you are unsure of the merits of any investment decision, please seek professional advice.Hosted by Ausha. See ausha.co/privacy-policy for more information.

Between rising unemployment and a shrinking supply of entry level jobs, it seems like the job market's on everyone's mind. On this week's TLDR, how AI has changed the process of getting a job — and why no one seems too happy about it. Plus, over its 250 year history, industrial capitalism has offered humanity some huge advances — along with a huge number of critics. New Yorker writer John Cassidy, author of the new book Capitalism and Its Critics: A History: From the Industrial Revolution to AI, explains.This episode was hosted by Devin Friedman, business reporter Sarah Rieger and former hedgefunder Matthew Karasz, with an appearance by journalist John Cassidy. Follow us on other platforms, or subscribe to our weekly newsletter: linkin.bio/tldrThe TLDR Podcast is offered by Wealthsimple Media Inc. and is for informational purposes only. The content in the TLDR Podcast is not investment advice, a recommendation to buy or sell assets or securities, and does not represent the views of Wealthsimple Financial Corp or any of its other subsidiaries or affiliates. Wealthsimple Media Inc. does not endorse any third-party views referenced in this content. More information at wealthsimple.com/tldr.

We're in Bilbao this week, and it's got us thinking. How does a football club that refuses to sign non-Basque players manage to qualify for the Champions League, raking in close to €100 million from TV rights, match days, and UEFA money, while Dublin's best bet is a few fivers from the Conference League? The answer is in economics. The Basques were Europe's forgotten industrialists, the only region in Spain to undergo a full-blown Industrial Revolution, powered by local iron ore, steel production, and a shipbuilding boom that made Bilbao Spain's biggest port by 1900. Then they lost it all. Globalisation, China, and the EU opened the floodgates. Unlike post-industrial towns in the UK or Ireland, Bilbao didn't roll over. They moved the port. They built the Guggenheim. They chose ambition. And they proved that even a small, isolated, ancient people, who speak a pre-Ice Age language with no known relatives, can build a modern economy with global reach. What's our excuse? Join the gang! https://plus.acast.com/s/the-david-mcwilliams-podcast. Hosted on Acast. See acast.com/privacy for more information.

In this captivating episode of "Father and Joe," hosts Father Boniface and Joe Rockey delve into the rich legacy and influence of Pope Leo, addressing his historical significance and the impact of his choices on the modern Church. As a follow-up to their ongoing conversation about papal influence, the discussion takes an enlightening turn with a vivid recounting of the emergence of popes throughout history, highlighted by pivotal actions and teachings that have shaped Catholicism today.Father Boniface takes us on a journey beginning with Pope Leo the Great, a resilient figure who faced external threats, and further explores the legacy of Leo XIII who navigated the challenges of the Industrial Revolution. The episode captures the essence of how these past leaders grounded their papacies on the core tenets of faith, dignity, social justice, and church doctrine.The most recent Pope Leo XIV's initiatives are cited as responses to contemporary challenges, including the rapid advancements in artificial intelligence and social dynamics. Father Boniface explains that even as new social issues arise, the papal mission draws from historical role models, employing compassion and justice to address modern-day societal complexities.Listeners are invited to reflect on the significance of the Pope's inaugural Mass and what it might foreshadow about his papacy. The conversation delves into the selection of papal names, focusing on how these choices reveal a Pope's theological and pastoral priorities. By examining these historical narratives and their continued relevance today, Father Boniface provides illuminating insights into the papacy's guiding principles for navigating times of change.The podcast encapsulates an engaging analysis of how modern leaders can embody and extend the teachings of past authorities. Through this thoughtful narrative, "Father and Joe" reinforces a profound message about the continuity of faith and the persistent drive towards maintaining human dignity and social justice in every epoch.Tags:Pope Leo, Catholic Church, Faith Journey, Spiritual Direction, Papal History, Father Boniface, Joe Rockey, Papal Inauguration, Church and Society, Social Justice, AI and Faith, Catholic Doctrine, Vatican II, Religious Education, Spiritual Growth, Historical Reflection, Papal Tradition, Modern Catholicism, Inauguration Mass, Church Teachings, Religious Podcast, Pope Francis, Social Encyclicals, John Paul II, Church Doctrine, Catholic Leaders, Devotion, Papal Insights, Human Dignity, Church and AI, Spirituality, Solidarity, Subsidiarity, Vatican Traditions, Pope's Role, Church Unity, Encyclical Significance, Religious Narratives, Papacy Symbols, Modern Challenges.Hashtags:#PopeLeo #CatholicChurch #FaithJourney #SpiritualDirection #PapalHistory #FatherBoniface #JoeRockey #PapalInauguration #ChurchAndSociety #SocialJustice #AIAndFaith #CatholicDoctrine #VaticanII #ReligiousEducation #SpiritualGrowth #HistoricalReflection #PapalTradition #ModernCatholicism #InaugurationMass #ChurchTeachings #ReligiousPodcast #PopeFrancis #SocialEncyclicals #JohnPaulII #ChurchDoctrine #CatholicLeaders #Devotion #PapalInsights #HumanDignity #ChurchAndAI #Spirituality #Solidarity #Subsidiarity #VaticanTraditions #PopesRole #ChurchUnity #EncyclicalSignificance #ReligiousNarratives #PapacySymbols #ModernChallenges

Geoff and Rory discuss the remarkable life of a Victorian genius; the upwardly mobile Joseph Paxton. The son of a farmer, he found a patron in the 6th Duke of Devonshire and by the age of 23 Paxton was Head Gardener at Chatsworth. He would later become a nationally sought-after engineer and latterly a Member of Parliament.The Silicon Valley entrepreneur of his day, Paxton embraced the latest technology, designing the Great Conservatory and Conservative Wall at Chatsworth, before catapulting to fame as the designer of the Crystal Palace in London.

ITR Economics has been predicting a “Great Depression” beginning around 2030. Over the past seven years, I've had multiple representatives from their firm on the show, and they've never wavered from that forecast. That might not sound so alarming—until you realize that their long-term predictive track record is 94% accurate over the last 70 years. To understand why their conviction is so strong, tune into this week's episode of Wealth Formula Podcast. Once you hear the reasoning, it'll all make sense. The major drivers of this projected economic downturn are debt and demographics. We're spending unsustainably on entitlement programs like Medicare and Medicaid—programs that virtually no politician has the appetite to reform. At the same time, the Baby Boomers—who make up a huge chunk of the U.S. population—are moving out of the workforce and into retirement, where they'll become a significant economic burden. It seems inevitable. But as you listen, I want to introduce one wild card that could change everything: artificial intelligence. I truly believe we're on the cusp of a technological transformation that could rival the Industrial Revolution. Think back to when Thomas Malthus predicted global famine due to population growth. What he didn't account for was the invention of the tractor, which revolutionized food production. In the same way, we may be underestimating the impact of the robotic age driven by artificial intelligence. Right now, economic growth is tied closely to the size of a country's working population. But what if AI allows us to dramatically increase productivity with the same—or even a smaller—workforce? What if robotics drives a low-cost manufacturing renaissance in the U.S., making us competitive again without relying on cheap labor from overseas? In my view, these are the most important questions in American economics over the next decade. And to understand just how critical it is that we get this right, this week's episode lays it out clearly: the alternative may look a lot like the 1930s. Learn more about ITR and their resources: https://hubs.la/Q03kw-Fs0

Good Sunday morning to you,I am just on a train home from Glasgow, where I have been gigging these past two nights. I've had a great time, as I always seem to do when I go north of the wall.But Glasgow on a Saturday night is something else. My hotel was right next to the station and so I was right in the thick of it. If I ever get to make a cacatopian, end-of-days, post-apocalyptic thriller, I'll just stroll through Glasgow city centre on a Friday or Saturday night with a camera to get all the B roll. It was like walking through a Hieronymus Bosch painting only with a Scottish accent. Little seems to have changed since I wrote that infamous chapter about Glasgow in Life After the State all those years ago. The only difference is that now it's more multi-ethnic. So many people are so off their heads. I lost count of the number of randoms wandering about just howling at the stars. The long days - it was still light at 10 o'clock - make the insanity all the more visible. Part of me finds it funny, but another part of me finds it so very sad that so many people let themselves get into this condition. It prompted me to revisit said chapter, and I offer it today as your Sunday thought piece.Just a couple of little notes, before we begin. This caught my eye on Friday. Our favourite uranium tech company, Lightbridge Fuels (NASDAQ:LTBR), has taken off again with Donald Trump's statement that he is going to quadruple US nuclear capacity. The stock was up 45% in a day. We first looked at it in October at $3. It hit $15 on Friday. It's one to sell on the spikes and buy on the dips, as this incredible chart shows.(In other news I have now listened twice to the Comstock Lode AGM, and I'll report back on that shortly too). ICYMI here is my mid-week commentary, which attracted a lot of attentionRight - Glasgow.(NB I haven't included references here. Needless to say, they are all there in the book. And sorry I don't have access to the audio of me reading this from my laptop, but, if you like, you can get the audiobook at Audible, Apple Books and all good audiobookshops. The book itself available at Amazon, Apple Books et al).How the Most Entrepreneurial City in Europe Became Its SickestThe cause of waves of unemployment is not capitalism, but governments …Friedrich Hayek, economist and philosopherIn the 18th and 19th centuries, the city of Glasgow in Scotland became enormously, stupendously rich. It happened quite organically, without planning. An entrepreneurial people reacted to their circumstances and, over time, turned Glasgow into an industrial and economic centre of such might that, by the turn of the 20th century, Glasgow was producing half the tonnage of Britain's ships and a quarter of all locomotives in the world. (Not unlike China's industrial dominance today). It was regarded as the best-governed city in Europe and popular histories compared it to the great imperial cities of Venice and Rome. It became known as the ‘Second City of the British Empire'.Barely 100 years later, it is the heroin capital of the UK, the murder capital of the UK and its East End, once home to Europe's largest steelworks, has been dubbed ‘the benefits capital of the UK'. Glasgow is Britain's fattest city: its men have Britain's lowest life expectancy – on a par with Palestine and Albania – and its unemployment rate is 50% higher than the rest of the UK.How did Glasgow manage all that?The growth in Glasgow's economic fortunes began in the latter part of the 17th century and the early 18th century. First, the city's location in the west of Scotland at the mouth of the river Clyde meant that it lay in the path of the trade winds and at least 100 nautical miles closer to America's east coast than other British ports – 200 miles closer than London. In the days before fossil fuels (which only found widespread use in shipping in the second half of the 19th century) the journey to Virginia was some two weeks shorter than the same journey from London or many of the other ports in Britain and Europe. Even modern sailors describe how easy the port of Glasgow is to navigate. Second, when England was at war with France – as it was repeatedly between 1688 and 1815 – ships travelling to Glasgow were less vulnerable than those travelling to ports further south. Glasgow's merchants took advantage and, by the early 18th century, the city had begun to assert itself as a trading hub. Manufactured goods were carried from Britain and Europe to North America and the Caribbean, where they were traded for increasingly popular commodities such as tobacco, cotton and sugar.Through the 18th century, the Glasgow merchants' business networks spread, and they took steps to further accelerate trade. New ships were introduced, bigger than those of rival ports, with fore and aft sails that enabled them to sail closer to the wind and reduce journey times. Trading posts were built to ensure that cargo was gathered and stored for collection, so that ships wouldn't swing idly at anchor. By the 1760s Glasgow had a 50% share of the tobacco trade – as much as the rest of Britain's ports combined. While the English merchants simply sold American tobacco in Europe at a profit, the Glaswegians actually extended credit to American farmers against future production (a bit like a crop future today, where a crop to be grown at a later date is sold now). The Virginia farmers could then use this credit to buy European goods, which the Glaswegians were only too happy to supply. This brought about the rise of financial institutions such as the Glasgow Ship Bank and the Glasgow Thistle Bank, which would later become part of the now-bailed-out, taxpayer-owned Royal Bank of Scotland (RBS).Their practices paid rewards. Glasgow's merchants earned a great deal of money. They built glamorous homes and large churches and, it seems, took on aristocratic airs – hence they became known as the ‘Tobacco Lords'. Numbering among them were Buchanan, Dunlop, Ingram, Wilson, Oswald, Cochrane and Glassford, all of whom had streets in the Merchant City district of Glasgow named after them (other streets, such as Virginia Street and Jamaica Street, refer to their trade destinations). In 1771, over 47 million pounds of tobacco were imported.However, the credit the Glaswegians extended to American tobacco farmers would backfire. The debts incurred by the tobacco farmers – which included future presidents George Washington and Thomas Jefferson (who almost lost his farm as a result) – grew, and were among the grievances when the American War of Independence came in 1775. That war destroyed the tobacco trade for the Glaswegians. Much of the money that was owed to them was never repaid. Many of their plantations were lost. But the Glaswegians were entrepreneurial and they adapted. They moved on to other businesses, particularly cotton.By the 19th century, all sorts of local industry had emerged around the goods traded in the city. It was producing and exporting textiles, chemicals, engineered goods and steel. River engineering projects to dredge and deepen the Clyde (with a view to forming a deep- water port) had begun in 1768 and they would enable shipbuilding to become a major industry on the upper reaches of the river, pioneered by industrialists such as Robert Napier and John Elder. The final stretch of the Monkland Canal, linking the Forth and Clyde Canal at Port Dundas, was opened in 1795, facilitating access to the iron-ore and coal mines of Lanarkshire.The move to fossil-fuelled shipping in the latter 19th century destroyed the advantages that the trade winds had given Glasgow. But it didn't matter. Again, the people adapted. By the turn of the 20th century the Second City of the British Empire had become a world centre of industry and heavy engineering. It has been estimated that, between 1870 and 1914, it produced as much as one-fifth of the world's ships, and half of Britain's tonnage. Among the 25,000 ships it produced were some of the greatest ever built: the Cutty Sark, the Queen Mary, HMS Hood, the Lusitania, the Glenlee tall ship and even the iconic Mississippi paddle steamer, the Delta Queen. It had also become a centre for locomotive manufacture and, shortly after the turn of the 20th century, could boast the largest concentration of locomotive building works in Europe.It was not just Glasgow's industry and wealth that was so gargantuan. The city's contribution to mankind – made possible by the innovation and progress that comes with booming economies – would also have an international impact. Many great inventors either hailed from Glasgow or moved there to study or work. There's James Watt, for example, whose improvements to the steam engine were fundamental to the Industrial Revolution. One of Watt's employees, William Murdoch, has been dubbed ‘the Scot who lit the world' – he invented gas lighting, a new kind of steam cannon and waterproof paint. Charles MacIntosh gave us the raincoat. James Young, the chemist dubbed as ‘the father of the oil industry', gave us paraffin. William Thomson, known as Lord Kelvin, developed the science of thermodynamics, formulating the Kelvin scale of absolute temperature; he also managed the laying of the first transatlantic telegraph cable.The turning point in the economic fortunes of Glasgow – indeed, of industrial Britain – was WWI. Both have been in decline ever since. By the end of the war, the British were drained, both emotionally and in terms of capital and manpower; the workers, the entrepreneurs, the ideas men, too many of them were dead or incapacitated. There was insufficient money and no appetite to invest. The post-war recession, and later the Great Depression, did little to help. The trend of the city was now one of inexorable economic decline.If Glasgow was the home of shipping and industry in 19th-century Britain, it became the home of socialism in the 20th century. Known by some as the ‘Red Clydeside' movement, the socialist tide in Scotland actually pre-dated the First World War. In 1906 came the city's first Labour Member of Parliament (MP), George Barnes – prior to that its seven MPs were all Conservatives or Liberal Unionists. In the spring of 1911, 11,000 workers at the Singer sewing-machine factory (run by an American corporation in Clydebank) went on strike to support 12 women who were protesting about new work practices. Singer sacked 400 workers, but the movement was growing – as was labour unrest. In the four years between 1910 and 1914 Clydebank workers spent four times as many days on strike than in the whole of the previous decade. The Scottish Trades Union Congress and its affiliations saw membership rise from 129,000 in 1909 to 230,000 in 1914.20The rise in discontent had much to do with Glasgow's housing. Conditions were bad, there was overcrowding, bad sanitation, housing was close to dirty, noxious and deafening industry. Unions grew quite organically to protect the interests of their members.Then came WWI, and inflation, as Britain all but abandoned gold. In 1915 many landlords responded by attempting to increase rent, but with their young men on the Western front, those left behind didn't have the means to pay these higher costs. If they couldn't, eviction soon followed. In Govan, an area of Glasgow where shipbuilding was the main occupation, women – now in the majority with so many men gone – organized opposition to the rent increases. There are photographs showing women blocking the entrance to tenements; officers who did get inside to evict tenants are said to have had their trousers pulled down.The landlords were attacked for being unpatriotic. Placards read: ‘While our men are fighting on the front line,the landlord is attacking us at home.' The strikes spread to other cities throughout the UK, and on 27 November 1915 the government introduced legislation to restrict rents to the pre-war level. The strikers were placated. They had won. The government was happy; it had dealt with the problem. The landlords lost out.In the aftermath of the Russian Revolution of 1917, more frequent strikes crippled the city. In 1919 the ‘Bloody Friday' uprising prompted the prime minister, David Lloyd George, to deploy 10,000 troops and tanks onto the city's streets. By the 1930s Glasgow had become the main base of the Independent Labour Party, so when Labour finally came to power alone after WWII, its influence was strong. Glasgow has always remained a socialist stronghold. Labour dominates the city council, and the city has not had a Conservative MP for 30 years.By the late 1950s, Glasgow was losing out to the more competitive industries of Japan, Germany and elsewhere. There was a lack of investment. Union demands for workers, enforced by government legislation, made costs uneconomic and entrepreneurial activity arduous. With lack of investment came lack of innovation.Rapid de-industrialization followed, and by the 1960s and 70s most employment lay not in manufacturing, but in the service industries.Which brings us to today. On the plus side, Glasgow is still ranked as one of Europe's top 20 financial centres and is home to some leading Scottish businesses. But there is considerable downside.Recent studies have suggested that nearly 30% of Glasgow's working age population is unemployed. That's 50% higher than that of the rest of Scotland or the UK. Eighteen per cent of 16- to 19-year-olds are neither in school nor employed. More than one in five working-age Glaswegians have no sort of education that might qualify them for a job.In the city centre, the Merchant City, 50% of children are growing up in homes where nobody works. In the poorer neighbourhoods, such as Ruchill, Possilpark, or Dalmarnock, about 65% of children live in homes where nobody works – more than three times the national average. Figures from the Department of Work and Pensions show that 85% of working age adults from the district of Bridgeton claim some kind of welfare payment.Across the city, almost a third of the population regularly receives sickness or incapacity benefit, the highest rate of all UK cities. A 2008 World Health Organization report noted that in Glasgow's Calton, Bridgeton and Queenslie neighbourhoods, the average life expectancy for males is only 54. In contrast, residents of Glasgow's more affluent West End live to be 80 and virtually none of them are on the dole.Glasgow has the highest crime rate in Scotland. A recent report by the Centre for Social Justice noted that there are 170 teenage gangs in Glasgow. That's the same number as in London, which has over six times the population of Glasgow.It also has the dubious record of being Britain's murder capital. In fact, Glasgow had the highest homicide rate in Western Europe until it was overtaken in 2012 by Amsterdam, with more violent crime per head of population than even New York. What's more, its suicide rate is the highest in the UK.Then there are the drug and alcohol problems. The residents of the poorer neighbourhoods are an astounding six times more likely to die of a drugs overdose than the national average. Drug-related mortality has increased by 95% since 1997. There are 20,000 registered drug users – that's just registered – and the situation is not going to get any better: children who grow up in households where family members use drugs are seven times more likely to end up using drugs themselves than children who live in drug-free families.Glasgow has the highest incidence of liver diseases from alcohol abuse in all of Scotland. In the East End district of Dennistoun, these illnesses kill more people than heart attacks and lung cancer combined. Men and women are more likely to die of alcohol-related deaths in Glasgow than anywhere else in the UK. Time and time again Glasgow is proud winner of the title ‘Fattest City in Britain'. Around 40% of the population are obese – 5% morbidly so – and it also boasts the most smokers per capita.I have taken these statistics from an array of different sources. It might be in some cases that they're overstated. I know that I've accentuated both the 18th- and 19th-century positives, as well as the 20th- and 21st-century negatives to make my point. Of course, there are lots of healthy, happy people in Glasgow – I've done many gigs there and I loved it. Despite the stories you hear about intimidating Glasgow audiences, the ones I encountered were as good as any I've ever performed in front of. But none of this changes the broad-brush strokes: Glasgow was a once mighty city that now has grave social problems. It is a city that is not fulfilling its potential in the way that it once did. All in all, it's quite a transformation. How has it happened?Every few years a report comes out that highlights Glasgow's various problems. Comments are then sought from across the political spectrum. Usually, those asked to comment agree that the city has grave, ‘long-standing and deep-rooted social problems' (the words of Stephen Purcell, former leader of Glasgow City Council); they agree that something needs to be done, though they don't always agree on what that something is.There's the view from the right: Bill Aitken of the Scottish Conservatives, quoted in The Sunday Times in 2008, said, ‘We simply don't have the jobs for people who are not academically inclined. Another factor is that some people are simply disinclined to work. We have got to find something for these people to do, to give them a reason to get up in the morning and give them some self-respect.' There's the supposedly apolitical view of anti-poverty groups: Peter Kelly, director of the Glasgow-based Poverty Alliance, responded, ‘We need real, intensive support for people if we are going to tackle poverty. It's not about a lack of aspiration, often people who are unemployed or on low incomes are stymied by a lack of money and support from local and central government.' And there's the view from the left. In the same article, Patricia Ferguson, the Labour Member of the Scottish Parliament (MSP) for Maryhill, also declared a belief in government regeneration of the area. ‘It's about better housing, more jobs, better education and these things take years to make an impact. I believe that the huge regeneration in the area is fostering a lot more community involvement and cohesion. My real hope is that these figures will take a knock in the next five or ten years.' At the time of writing in 2013, five years later, the figures have worsened.All three points of view agree on one thing: the government must do something.In 2008 the £435 million Fairer Scotland Fund – established to tackle poverty – was unveiled, aiming to allocate cash to the country's most deprived communities. Its targets included increasing average income among lower wage-earners and narrowing the poverty gap between Scotland's best- and worst-performing regions by 2017. So far, it hasn't met those targets.In 2008 a report entitled ‘Power for The Public' examined the provision of health, education and justice in Scotland. It said the budgets for these three areas had grown by 55%, 87% and 44% respectively over the last decade, but added that this had produced ‘mixed results'. ‘Mixed results' means it didn't work. More money was spent and the figures got worse.After the Centre for Social Justice report on Glasgow in 2008, Iain Duncan Smith (who set up this think tank, and is now the Secretary of State for Work and Pensions) said, ‘Policy must deal with the pathways to breakdown – high levels of family breakdown, high levels of failed education, debt and unemployment.'So what are ‘pathways to breakdown'? If you were to look at a chart of Glasgow's prosperity relative to the rest of the world, its peak would have come somewhere around 1910. With the onset of WWI in 1914 its decline accelerated, and since then the falls have been relentless and inexorable. It's not just Glasgow that would have this chart pattern, but the whole of industrial Britain. What changed the trend? Yes, empires rise and fall, but was British decline all a consequence of WWI? Or was there something else?A seismic shift came with that war – a change which is very rarely spoken or written about. Actually, the change was gradual and it pre-dated 1914. It was a change that was sweeping through the West: that of government or state involvement in our lives. In the UK it began with the reforms of the Liberal government of 1906–14, championed by David Lloyd George and Winston Churchill, known as the ‘terrible twins' by contemporaries. The Pensions Act of 1908, the People's Budget of 1909–10 (to ‘wage implacable warfare against poverty', declared Lloyd George) and the National Insurance Act of 1911 saw the Liberal government moving away from its tradition of laissez-faire systems – from classical liberalism and Gladstonian principles of self-help and self-reliance – towards larger, more active government by which taxes were collected from the wealthy and the proceeds redistributed. Afraid of losing votes to the emerging Labour party and the increasingly popular ideology of socialism, modern liberals betrayed their classical principles. In his War Memoirs, Lloyd George said ‘the partisan warfare that raged around these topics was so fierce that by 1913, this country was brought to the verge of civil war'. But these were small steps. The Pensions Act, for example, meant that men aged 70 and above could claim between two and five shillings per week from the government. But average male life- expectancy then was 47. Today it's 77. Using the same ratio, and, yes, I'm manipulating statistics here, that's akin to only awarding pensions to people above the age 117 today. Back then it was workable.To go back to my analogy of the prologue, this period was when the ‘train' was set in motion across the West. In 1914 it went up a gear. Here are the opening paragraphs of historian A. J. P. Taylor's most celebrated book, English History 1914–1945, published in 1965.I quote this long passage in full, because it is so telling.Until August 1914 a sensible, law-abiding Englishman could pass through life and hardly notice the existence of the state, beyond the post office and the policeman. He could live where he liked and as he liked. He had no official number or identity card. He could travel abroad or leave his country forever without a passport or any sort of official permission. He could exchange his money for any other currency without restriction or limit. He could buy goods from any country in the world on the same terms as he bought goods at home. For that matter, a foreigner could spend his life in this country without permit and without informing the police. Unlike the countries of the European continent, the state did not require its citizens to perform military service. An Englishman could enlist, if he chose, in the regular army, the navy, or the territorials. He could also ignore, if he chose, the demands of national defence. Substantial householders were occasionally called on for jury service. Otherwise, only those helped the state, who wished to do so. The Englishman paid taxes on a modest scale: nearly £200 million in 1913–14, or rather less than 8% of the national income.The state intervened to prevent the citizen from eating adulterated food or contracting certain infectious diseases. It imposed safety rules in factories, and prevented women, and adult males in some industries,from working excessive hours.The state saw to it that children received education up to the age of 13. Since 1 January 1909, it provided a meagre pension for the needy over the age of 70. Since 1911, it helped to insure certain classes of workers against sickness and unemployment. This tendency towards more state action was increasing. Expenditure on the social services had roughly doubled since the Liberals took office in 1905. Still, broadly speaking, the state acted only to help those who could not help themselves. It left the adult citizen alone.All this was changed by the impact of the Great War. The mass of the people became, for the first time, active citizens. Their lives were shaped by orders from above; they were required to serve the state instead of pursuing exclusively their own affairs. Five million men entered the armed forces, many of them (though a minority) under compulsion. The Englishman's food was limited, and its quality changed, by government order. His freedom of movement was restricted; his conditions of work prescribed. Some industries were reduced or closed, others artificially fostered. The publication of news was fettered. Street lights were dimmed. The sacred freedom of drinking was tampered with: licensed hours were cut down, and the beer watered by order. The very time on the clocks was changed. From 1916 onwards, every Englishman got up an hour earlier in summer than he would otherwise have done, thanks to an act of parliament. The state established a hold over its citizens which, though relaxed in peacetime, was never to be removed and which the Second World war was again to increase. The history of the English state and of the English people merged for the first time.Since the beginning of WWI , the role that the state has played in our lives has not stopped growing. This has been especially so in the case of Glasgow. The state has spent more and more, provided more and more services, more subsidy, more education, more health care, more infrastructure, more accommodation, more benefits, more regulations, more laws, more protection. The more it has provided, the worse Glasgow has fared. Is this correlation a coincidence? I don't think so.The story of the rise and fall of Glasgow is a distilled version of the story of the rise and fall of industrial Britain – indeed the entire industrial West. In the next chapter I'm going to show you a simple mistake that goes on being made; a dynamic by which the state, whose very aim was to help Glasgow, has actually been its ‘pathway to breakdown' . . .Life After the State is available at Amazon, Apple Books and all good bookshops, with the audiobook at Audible, Apple Books and all good audiobookshops. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.theflyingfrisby.com/subscribe

Conventional wisdom is brimming with economic myths: the Industrial Revolution impoverished the masses; bobber barons were the scourge of the Gilded Age; the Great Recession was caused by irresponsible deregulation. Senator Phil Gramm and economist Don Boudreaux attempt to set the record straight in their new book, “The Triumph of Economic Freedom: Debunking the Seven Great Myths of American Capitalism.”

I've Got My Love to Keep Me Warm. In this episode, we discuss how pre-modern church history, the Industrial Revolution, therapeutics, language, corporate culture, and the flight of heretics from Europe in the 17th-18th century affected contemporary Western churches. SHOW NOTES:  The Sovereign Individual: Mastering the Transition to the Information Age https://amzn.to/43cElvv  On Pornography, Hunger, and Holy Rescue https://www.1517.org/articles/on-pornography-hunger-and-holy-rescue   More from 1517: Support 1517 Podcast Network: https://www.1517.org/donate-podcasts 1517 Podcasts: http://www.1517.org/podcasts 1517 on YouTube: https://www.youtube.com/@1517org 1517 Podcast Network on Apple Podcasts: https://podcasts.apple.com/us/channel/1517-podcast-network/id6442751370 1517 Events Schedule: https://www.1517.org/events 1517 Academy - Free Theological Education: https://academy.1517.org/   What's New from 1517: Preorder Sinner Saint by By Luke Kjolhaug: https://shop.1517.org/products/9781964419152-sinner-saint The Impossible Prize: A Theology of Addiction by Donavan Riley: https://shop.1517.org/products/9781962654708-the-impossible-prize Ditching the Checklist by Mark Mattes: https://shop.1517.org/products/9781962654791-ditching-the-checklist Broken Bonds: A Novel of the Reformation, Book 1 of 2 by Amy Mantravadi: https://www.amazon.com/dp/1962654753?ref_=cm_sw_r_cp_ud_dp_FCNEEK60MVNVPCEGKBD8_5&starsLeft=1   More from the hosts: Donovan Riley https://www.1517.org/contributors/donavon-riley  Christopher Gillespie https://www.1517.org/contributors/christopher-gillespie   MORE LINKS: Tin Foil Haloes https://t.me/bannedpastors Warrior Priest Gym & Podcast https://thewarriorpriestpodcast.wordpress.com   St John's Lutheran Church (Webster, MN) - FB Live Bible Study Group https://www.facebook.com/groups/356667039608511  Donavon's Substack https://donavonlriley.substack.com Gillespie's Substack https://substack.com/@christophergillespie  Gillespie's Sermons and Catechesis http://youtube.com/stjohnrandomlake  Gillespie Coffee https://gillespie.coffee   Gillespie Media https://gillespie.media     CONTACT and FOLLOW: Email mailto:BannedBooks@1517.org  Facebook https://www.facebook.com/BannedBooksPod/  Twitter https://twitter.com/bannedbooks1517   SUBSCRIBE: YouTube https://www.youtube.com/@BannedBooks Rumble https://rumble.com/c/c-1223313  Odysee https://odysee.com/@bannedbooks:5 Apple Podcasts https://podcasts.apple.com/us/podcast/banned-books/id1370993639  Spotify https://open.spotify.com/show/2ahA20sZMpBxg9vgiRVQba  Overcast https://overcast.fm/itunes1370993639/banned-books 

Yesterday, the self-styled San Francisco “progressive” Joan Williams was on the show arguing that Democrats need to relearn the language of the American working class. But, as some of you have noted, Williams seems oblivious to the fact that politics is about more than simply aping other people's language. What you say matters, and the language of American working class, like all industrial working classes, is rooted in a critique of capitalism. She should probably read the New Yorker staff writer John Cassidy's excellent new book, Capitalism and its Critics, which traces capitalism's evolution and criticism from the East India Company through modern times. He defines capitalism as production for profit by privately-owned companies in markets, encompassing various forms from Chinese state capitalism to hyper-globalization. The book examines capitalism's most articulate critics including the Luddites, Marx, Engels, Thomas Carlisle, Adam Smith, Rosa Luxemburg, Keynes & Hayek, and contemporary figures like Sylvia Federici and Thomas Piketty. Cassidy explores how major economists were often critics of their era's dominant capitalist model, and untangles capitalism's complicated relationship with colonialism, slavery and AI which he regards as a potentially unprecedented economic disruption. This should be essential listening for all Democrats seeking to reinvent a post Biden-Harris party and message. 5 key takeaways* Capitalism has many forms - From Chinese state capitalism to Keynesian managed capitalism to hyper-globalization, all fitting the basic definition of production for profit by privately-owned companies in markets.* Great economists are typically critics - Smith criticized mercantile capitalism, Keynes critiqued laissez-faire capitalism, and Hayek/Friedman opposed managed capitalism. Each generation's leading economists challenge their era's dominant model.* Modern corporate structure has deep roots - The East India Company was essentially a modern multinational corporation with headquarters, board of directors, stockholders, and even a private army - showing capitalism's organizational continuity across centuries.* Capitalism is intertwined with colonialism and slavery - Industrial capitalism was built on pre-existing colonial and slave systems, particularly through the cotton industry and plantation economies.* AI represents a potentially unprecedented disruption - Unlike previous technological waves, AI may substitute rather than complement human labor on a massive scale, potentially creating political backlash exceeding even the "China shock" that contributed to Trump's rise.Keen On America is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Full TranscriptAndrew Keen: Hello, everybody. A couple of days ago, we did a show with Joan Williams. She has a new book out, "Outclassed: How the Left Lost the Working Class and How to Win Them Back." A book about language, about how to talk to the American working class. She also had a piece in Jacobin Magazine, an anti-capitalist magazine, about how the left needs to speak to what she calls average American values. We talked, of course, about Bernie Sanders and AOC and their language of fighting oligarchy, and the New York Times followed that up with "The Enduring Power of Anti-Capitalism in American Politics."But of course, that brings the question: what exactly is capitalism? I did a little bit of research. We can find definitions of capitalism from AI, from Wikipedia, even from online dictionaries, but I thought we might do a little better than relying on Wikipedia and come to a man who's given capitalism and its critics a great deal of thought. John Cassidy is well known as a staff writer at The New Yorker. He's the author of a wonderful book, the best book, actually, on the dot-com insanity. And his new book, "Capitalism and its Critics," is out this week. John, congratulations on the book.So I've got to be a bit of a schoolmaster with you, John, and get some definitions first. What exactly is capitalism before we get to criticism of it?John Cassidy: Yeah, I mean, it's a very good question, Andrew. Obviously, through the decades, even the centuries, there have been many different definitions of the term capitalism and there are different types of capitalism. To not be sort of too ideological about it, the working definition I use is basically production for profit—that could be production of goods or mostly in the new and, you know, in today's economy, production of services—for profit by companies which are privately owned in markets. That's a very sort of all-encompassing definition.Within that, you can have all sorts of different types of capitalism. You can have Chinese state capitalism, you can have the old mercantilism, which industrial capitalism came after, which Trump seems to be trying to resurrect. You can have Keynesian managed capitalism that we had for 30 or 40 years after the Second World War, which I grew up in in the UK. Or you can have sort of hyper-globalization, hyper-capitalism that we've tried for the last 30 years. There are all those different varieties of capitalism consistent with a basic definition, I think.Andrew Keen: That keeps you busy, John. I know you started this project, which is a big book and it's a wonderful book. I read it. I don't always read all the books I have on the show, but I read from cover to cover full of remarkable stories of the critics of capitalism. You note in the beginning that you began this in 2016 with the beginnings of Trump. What was it about the 2016 election that triggered a book about capitalism and its critics?John Cassidy: Well, I was reporting on it at the time for The New Yorker and it struck me—I covered, I basically covered the economy in various forms for various publications since the late 80s, early 90s. In fact, one of my first big stories was the stock market crash of '87. So yes, I am that old. But it seemed to me in 2016 when you had Bernie Sanders running from the left and Trump running from the right, but both in some way offering very sort of similar critiques of capitalism. People forget that Trump in 2016 actually was running from the left of the Republican Party. He was attacking big business. He was attacking Wall Street. He doesn't do that these days very much, but at the time he was very much posing as the sort of outsider here to protect the interests of the average working man.And it seemed to me that when you had this sort of pincer movement against the then ruling model, this wasn't just a one-off. It seemed to me it was a sort of an emerging crisis of legitimacy for the system. And I thought there could be a good book written about how we got to here. And originally I thought it would be a relatively short book just based on the last sort of 20 or 30 years since the collapse of the Cold War and the sort of triumphalism of the early 90s.But as I got into it more and more, I realized that so many of the issues which had been raised, things like globalization, rising inequality, monopoly power, exploitation, even pollution and climate change, these issues go back to the very start of the capitalist system or the industrial capitalist system back in sort of late 18th century, early 19th century Britain. So I thought, in the end, I thought, you know what, let's just do the whole thing soup to nuts through the eyes of the critics.There have obviously been many, many histories of capitalism written. I thought that an original way to do it, or hopefully original, would be to do a sort of a narrative through the lives and the critiques of the critics of various stages. So that's, I hope, what sets it apart from other books on the subject, and also provides a sort of narrative frame because, you know, I am a New Yorker writer, I realize if you want people to read things, you've got to make it readable. Easiest way to make things readable is to center them around people. People love reading about other people. So that's sort of the narrative frame. I start off with a whistleblower from the East India Company back in the—Andrew Keen: Yeah, I want to come to that. But before, John, my sense is that to simplify what you're saying, this is a labor of love. You're originally from Leeds, the heart of Yorkshire, the center of the very industrial revolution, the first industrial revolution where, in your historical analysis, capitalism was born. Is it a labor of love? What's your family relationship with capitalism? How long was the family in Leeds?John Cassidy: Right, I mean that's a very good question. It is a labor of love in a way, but it's not—our family doesn't go—I'm from an Irish family, family of Irish immigrants who moved to England in the 1940s and 1950s. So my father actually did start working in a big mill, the Kirkstall Forge in Leeds, which is a big steel mill, and he left after seeing one of his co-workers have his arms chopped off in one of the machinery, so he decided it wasn't for him and he spent his life working in the construction industry, which was dominated by immigrants as it is here now.So I don't have a—it's not like I go back to sort of the start of the industrial revolution, but I did grow up in the middle of Leeds, very working class, very industrial neighborhood. And what a sort of irony is, I'll point out, I used to, when I was a kid, I used to play golf on a municipal golf course called Gotts Park in Leeds, which—you know, most golf courses in America are sort of in the affluent suburbs, country clubs. This was right in the middle of Armley in Leeds, which is where the Victorian jail is and a very rough neighborhood. There's a small bit of land which they built a golf course on. It turns out it was named after one of the very first industrialists, Benjamin Gott, who was a wool and textile industrialist, and who played a part in the Luddite movement, which I mention.So it turns out, I was there when I was 11 or 12, just learning how to play golf on this scrappy golf course. And here I am, 50 years later, writing about Benjamin Gott at the start of the Industrial Revolution. So yeah, no, sure. I think it speaks to me in a way that perhaps it wouldn't to somebody else from a different background.Andrew Keen: We did a show with William Dalrymple, actually, a couple of years ago. He's been on actually since, the Anglo or Scottish Indian historian. His book on the East India Company, "The Anarchy," is a classic. You begin in some ways your history of capitalism with the East India Company. What was it about the East India Company, John, that makes it different from other for-profit organizations in economic, Western economic history?John Cassidy: I mean, I read that. It's a great book, by the way. That was actually quoted in my chapter on these. Yeah, I remember. I mean, the reason I focused on it was for two reasons. Number one, I was looking for a start, a narrative start to the book. And it seemed to me, you know, the obvious place to start is with the start of the industrial revolution. If you look at economics history textbooks, that's where they always start with Arkwright and all the inventors, you know, who were the sort of techno-entrepreneurs of their time, the sort of British Silicon Valley, if you could think of it as, in Lancashire and Derbyshire in the late 18th century.So I knew I had to sort of start there in some way, but I thought that's a bit pat. Is there another way into it? And it turns out that in 1772 in England, there was a huge bailout of the East India Company, very much like the sort of 2008, 2009 bailout of Wall Street. The company got into trouble. So I thought, you know, maybe there's something there. And I eventually found this guy, William Bolts, who worked for the East India Company, turned into a whistleblower after he was fired for finagling in India like lots of the people who worked for the company did.So that gave me two things. Number one, it gave me—you know, I'm a writer, so it gave me something to focus on a narrative. His personal history is very interesting. But number two, it gave me a sort of foundation because industrial capitalism didn't come from nowhere. You know, it was built on top of a pre-existing form of capitalism, which we now call mercantile capitalism, which was very protectionist, which speaks to us now. But also it had these big monopolistic multinational companies.The East India Company, in some ways, was a very modern corporation. It had a headquarters in Leadenhall Street in the city of London. It had a board of directors, it had stockholders, the company sent out very detailed instructions to the people in the field in India and Indonesia and Malaysia who were traders who bought things from the locals there, brought them back to England on their company ships. They had a company army even to enforce—to protect their operations there. It was an incredible multinational corporation.So that was also, I think, fascinating because it showed that even in the pre-existing system, you know, big corporations existed, there were monopolies, they had royal monopolies given—first the East India Company got one from Queen Elizabeth. But in some ways, they were very similar to modern monopolistic corporations. And they had some of the problems we've seen with modern monopolistic corporations, the way they acted. And Bolts was the sort of first corporate whistleblower, I thought. Yeah, that was a way of sort of getting into the story, I think. Hopefully, you know, it's just a good read, I think.William Bolts's story because he was—he came from nowhere, he was Dutch, he wasn't even English and he joined the company as a sort of impoverished young man, went to India like a lot of English minor aristocrats did to sort of make your fortune. The way the company worked, you had to sort of work on company time and make as much money as you could for the company, but then in your spare time you're allowed to trade for yourself. So a lot of the—without getting into too much detail, but you know, English aristocracy was based on—you know, the eldest child inherits everything, so if you were the younger brother of the Duke of Norfolk, you actually didn't inherit anything. So all of these minor aristocrats, so major aristocrats, but who weren't first born, joined the East India Company, went out to India and made a fortune, and then came back and built huge houses. Lots of the great manor houses in southern England were built by people from the East India Company and they were known as Nabobs, which is an Indian term. So they were the sort of, you know, billionaires of their time, and it was based on—as I say, it wasn't based on industrial capitalism, it was based on mercantile capitalism.Andrew Keen: Yeah, the beginning of the book, which focuses on Bolts and the East India Company, brings to mind for me two things. Firstly, the intimacy of modern capitalism, modern industrial capitalism with colonialism and of course slavery—lots of books have been written on that. Touch on this and also the relationship between the birth of capitalism and the birth of liberalism or democracy. John Stuart Mill, of course, the father in many ways of Western democracy. His day job, ironically enough, or perhaps not ironically, was at the East India Company. So how do those two things connect, or is it just coincidental?John Cassidy: Well, I don't think it is entirely coincidental, I mean, J.S. Mill—his father, James Mill, was also a well-known philosopher in the sort of, obviously, in the earlier generation, earlier than him. And he actually wrote the official history of the East India Company. And I think they gave his son, the sort of brilliant protégé, J.S. Mill, a job as largely as a sort of sinecure, I think. But he did go in and work there in the offices three or four days a week.But I think it does show how sort of integral—the sort of—as you say, the inheritor and the servant in Britain, particularly, of colonial capitalism was. So the East India Company was, you know, it was in decline by that stage in the middle of the 19th century, but it didn't actually give up its monopoly. It wasn't forced to give up its monopoly on the Indian trade until 1857, after, you know, some notorious massacres and there was a sort of public outcry.So yeah, no, that's—it's very interesting that the British—it's sort of unique to Britain in a way, but it's interesting that industrial capitalism arose alongside this pre-existing capitalist structure and somebody like Mill is a sort of paradoxical figure because actually he was quite critical of aspects of industrial capitalism and supported sort of taxes on the rich, even though he's known as the great, you know, one of the great apostles of the free market and free market liberalism. And his day job, as you say, he was working for the East India Company.Andrew Keen: What about the relationship between the birth of industrial capitalism, colonialism and slavery? Those are big questions and I know you deal with them in some—John Cassidy: I think you can't just write an economic history of capitalism now just starting with the cotton industry and say, you know, it was all about—it was all about just technical progress and gadgets, etc. It was built on a sort of pre-existing system which was colonial and, you know, the slave trade was a central element of that. Now, as you say, there have been lots and lots of books written about it, the whole 1619 project got an incredible amount of attention a few years ago. So I didn't really want to rehash all that, but I did want to acknowledge the sort of role of slavery, especially in the rise of the cotton industry because of course, a lot of the raw cotton was grown in the plantations in the American South.So the way I actually ended up doing that was by writing a chapter about Eric Williams, a Trinidadian writer who ended up as the Prime Minister of Trinidad when it became independent in the 1960s. But when he was younger, he wrote a book which is now regarded as a classic. He went to Oxford to do a PhD, won a scholarship. He was very smart. I won a sort of Oxford scholarship myself but 50 years before that, he came across the Atlantic and did an undergraduate degree in history and then did a PhD there and his PhD thesis was on slavery and capitalism.And at the time, in the 1930s, the link really wasn't acknowledged. You could read any sort of standard economic history written by British historians, and they completely ignored that. He made the argument that, you know, slavery was integral to the rise of capitalism and he basically started an argument which has been raging ever since the 1930s and, you know, if you want to study economic history now you have to sort of—you know, have to have to address that. And the way I thought, even though the—it's called the Williams thesis is very famous. I don't think many people knew much about where it came from. So I thought I'd do a chapter on—Andrew Keen: Yeah, that chapter is excellent. You mentioned earlier the Luddites, you're from Yorkshire where Luddism in some ways was born. One of the early chapters is on the Luddites. We did a show with Brian Merchant, his book, "Blood in the Machine," has done very well, I'm sure you're familiar with it. I always understood the Luddites as being against industrialization, against the machine, as opposed to being against capitalism. But did those two things get muddled together in the history of the Luddites?John Cassidy: I think they did. I mean, you know, Luddites, when we grew up, I mean you're English too, you know to be called a Luddite was a term of abuse, right? You know, you were sort of antediluvian, anti-technology, you're stupid. It was only, I think, with the sort of computer revolution, the tech revolution of the last 30, 40 years and the sort of disruptions it's caused, that people have started to look back at the Luddites and say, perhaps they had a point.For them, they were basically pre-industrial capitalism artisans. They worked for profit-making concerns, small workshops. Some of them worked for themselves, so they were sort of sole proprietor capitalists. Or they worked in small venues, but the rise of industrial capitalism, factory capitalism or whatever, basically took away their livelihoods progressively. So they associated capitalism with new technology. In their minds it was the same. But their argument wasn't really a technological one or even an economic one, it was more a moral one. They basically made the moral argument that capitalists shouldn't have the right to just take away their livelihoods with no sort of recompense for them.At the time they didn't have any parliamentary representation. You know, they weren't revolutionaries. The first thing they did was create petitions to try and get parliament to step in, sort of introduce some regulation here. They got turned down repeatedly by the sort of—even though it was a very aristocratic parliament, places like Manchester and Leeds didn't have any representation at all. So it was only after that that they sort of turned violent and started, you know, smashing machines and machines, I think, were sort of symbols of the system, which they saw as morally unjust.And I think that's sort of what—obviously, there's, you know, a lot of technological disruption now, so we can, especially as it starts to come for the educated cognitive class, we can sort of sympathize with them more. But I think the sort of moral critique that there's this, you know, underneath the sort of great creativity and economic growth that capitalism produces, there is also a lot of destruction and a lot of victims. And I think that message, you know, is becoming a lot more—that's why I think why they've been rediscovered in the last five or ten years and I'm one of the people I guess contributing to that rediscovery.Andrew Keen: There's obviously many critiques of capitalism politically. I want to come to Marx in a second, but your chapter, I thought, on Thomas Carlyle and this nostalgic conservatism was very important and there are other conservatives as well. John, do you think that—and you mentioned Trump earlier, who is essentially a nostalgist for a—I don't know, some sort of bizarre pre-capitalist age in America. Is there something particularly powerful about the anti-capitalism of romantics like Carlyle, 19th century Englishman, there were many others of course.John Cassidy: Well, I think so. I mean, I think what is—conservatism, when we were young anyway, was associated with Thatcherism and Reaganism, which, you know, lionized the free market and free market capitalism and was a reaction against the pre-existing form of capitalism, Keynesian capitalism of the sort of 40s to the 80s. But I think what got lost in that era was the fact that there have always been—you've got Hayek up there, obviously—Andrew Keen: And then Keynes and Hayek, the two—John Cassidy: Right, it goes to the end of that. They had a great debate in the 1930s about these issues. But Hayek really wasn't a conservative person, and neither was Milton Friedman. They were sort of free market revolutionaries, really, that you'd let the market rip and it does good things. And I think that that sort of a view, you know, it just became very powerful. But we sort of lost sight of the fact that there was also a much older tradition of sort of suspicion of radical changes of any type. And that was what conservatism was about to some extent. If you think about Baldwin in Britain, for example.And there was a sort of—during the Industrial Revolution, some of the strongest supporters of factory acts to reduce hours and hourly wages for women and kids were actually conservatives, Tories, as they were called at the time, like Ashley. That tradition, Carlyle was a sort of extreme representative of that. I mean, Carlyle was a sort of proto-fascist, let's not romanticize him, he lionized strongmen, Frederick the Great, and he didn't really believe in democracy. But he also had—he was appalled by the sort of, you know, the—like, what's the phrase I'm looking for? The sort of destructive aspects of industrial capitalism, both on the workers, you know, he said it was a dehumanizing system, sounded like Marx in some ways. That it dehumanized the workers, but also it destroyed the environment.He was an early environmentalist. He venerated the environment, was actually very strongly linked to the transcendentalists in America, people like Thoreau, who went to visit him when he visited Britain and he saw the sort of destructive impact that capitalism was having locally in places like Manchester, which were filthy with filthy rivers, etc. So he just saw the whole system as sort of morally bankrupt and he was a great writer, Carlyle, whatever you think of him. Great user of language, so he has these great ringing phrases like, you know, the cash nexus or calling it the Gospel of Mammonism, the shabbiest gospel ever preached under the sun was industrial capitalism.So, again, you know, that's a sort of paradoxical thing, because I think for so long conservatism was associated with, you know, with support for the free market and still is in most of the Republican Party, but then along comes Trump and sort of conquers the party with a, you know, more skeptical, as you say, romantic, not really based on any reality, but a sort of romantic view that America can stand by itself in the world. I mean, I see Trump actually as a sort of an effort to sort of throw back to mercantile capitalism in a way. You know, which was not just pre-industrial, but was also pre-democracy, run by monarchs, which I'm sure appeals to him, and it was based on, you know, large—there were large tariffs. You couldn't import things in the UK. If you want to import anything to the UK, you have to send it on a British ship because of the navigation laws. It was a very protectionist system and it's actually, you know, as I said, had a lot of parallels with what Trump's trying to do or tries to do until he backs off.Andrew Keen: You cheat a little bit in the book in the sense that you—everyone has their own chapter. We'll talk a little bit about Hayek and Smith and Lenin and Friedman. You do have one chapter on Marx, but you also have a chapter on Engels. So you kind of cheat. You combine the two. Is it possible, though, to do—and you've just written this book, so you know this as well as anyone. How do you write a book about capitalism and its critics and only really give one chapter to Marx, who is so dominant? I mean, you've got lots of Marxists in the book, including Lenin and Luxemburg. How fundamental is Marx to a criticism of capitalism? Is most criticism, especially from the left, from progressives, is it really just all a footnote to Marx?John Cassidy: I wouldn't go that far, but I think obviously on the left he is the central figure. But there's an element of sort of trying to rebuild Engels a bit in this. I mean, I think of Engels and Marx—I mean obviously Marx wrote the great classic "Capital," etc. But in the 1840s, when they both started writing about capitalism, Engels was sort of ahead of Marx in some ways. I mean, the sort of materialist concept, the idea that economics rules everything, Engels actually was the first one to come up with that in an essay in the 1840s which Marx then published in one of his—in the German newspaper he worked for at the time, radical newspaper, and he acknowledged openly that that was really what got him thinking seriously about economics, and even in the late—in 20, 25 years later when he wrote "Capital," all three volumes of it and the Grundrisse, just these enormous outpourings of analysis on capitalism.He acknowledged Engels's role in that and obviously Engels wrote the first draft of the Communist Manifesto in 1848 too, which Marx then topped and tailed and—he was a better writer obviously, Marx, and he gave it the dramatic language that we all know it for. So I think Engels and Marx together obviously are the central sort of figures in the sort of left-wing critique. But they didn't start out like that. I mean, they were very obscure, you've got to remember.You know, they were—when they were writing, Marx was writing "Capital" in London, it never even got published in English for another 20 years. It was just published in German. He was basically an expat. He had been thrown out of Germany, he had been thrown out of France, so England was last resort and the British didn't consider him a threat so they were happy to let him and the rest of the German sort of left in there. I think it became—it became the sort of epochal figure after his death really, I think, when he was picked up by the left-wing parties, which are especially the SPD in Germany, which was the first sort of socialist mass party and was officially Marxist until the First World War and there were great internal debates.And then of course, because Lenin and the Russians came out of that tradition too, Marxism then became the official doctrine of the Soviet Union when they adopted a version of it. And again there were massive internal arguments about what Marx really meant, and in fact, you know, one interpretation of the last 150 years of left-wing sort of intellectual development is as a sort of argument about what did Marx really mean and what are the important bits of it, what are the less essential bits of it. It's a bit like the "what did Keynes really mean" that you get in liberal circles.So yeah, Marx, obviously, this is basically an intellectual history of critiques of capitalism. In that frame, he is absolutely a central figure. Why didn't I give him more space than a chapter and a chapter and a half with Engels? There have been a million books written about Marx. I mean, it's not that—it's not that he's an unknown figure. You know, there's a best-selling book written in Britain about 20 years ago about him and then I was quoting, in my biographical research, I relied on some more recent, more scholarly biographies. So he's an endlessly fascinating figure but I didn't want him to dominate the book so I gave him basically the same space as everybody else.Andrew Keen: You've got, as I said, you've got a chapter on Adam Smith who's often considered the father of economics. You've got a chapter on Keynes. You've got a chapter on Friedman. And you've got a chapter on Hayek, all the great modern economists. Is it possible, John, to be a distinguished economist one way or the other and not be a critic of capitalism?John Cassidy: Well, I don't—I mean, I think history would suggest that the greatest economists have been critics of capitalism in their own time. People would say to me, what the hell have you got Milton Friedman and Friedrich Hayek in a book about critics of capitalism? They were great exponents, defenders of capitalism. They loved the system. That is perfectly true. But in the 1930s, 40s, 50s, 60s, and 70s, middle of the 20th century, they were actually arch-critics of the ruling form of capitalism at the time, which was what I call managed capitalism. What some people call Keynesianism, what other people call European social democracy, whatever you call it, it was a model of a mixed economy in which the government played a large role both in propping up demand and in providing an extensive social safety net in the UK and providing public healthcare and public education. It was a sort of hybrid model.Most of the economy in terms of the businesses remained in private hands. So most production was capitalistic. It was a capitalist system. They didn't go to the Soviet model of nationalizing everything and Britain did nationalize some businesses, but most places didn't. The US of course didn't but it was a form of managed capitalism. And Hayek and Friedman were both great critics of that and wanted to sort of move back to 19th century laissez-faire model.Keynes was a—was actually a great, I view him anyway, as really a sort of late Victorian liberal and was trying to protect as much of the sort of J.S. Mill view of the world as he could, but he thought capitalism had one fatal flaw: that it tended to fall into recessions and then they can snowball and the whole system can collapse which is what had basically happened in the early 1930s until Keynesian policies were adopted. Keynes sort of differed from a lot of his followers—I have a chapter on Joan Robinson in there, who were pretty left-wing and wanted to sort of use Keynesianism as a way to shift the economy quite far to the left. Keynes didn't really believe in that. He has a famous quote that, you know, once you get to full employment, you can then rely on the free market to sort of take care of things. He was still a liberal at heart.Going back to Adam Smith, why is he in a book on criticism of capitalism? And again, it goes back to what I said at the beginning. He actually wrote "The Wealth of Nations"—he explains in the introduction—as a critique of mercantile capitalism. His argument was that he was a pro-free trader, pro-small business, free enterprise. His argument was if you get the government out of the way, we don't need these government-sponsored monopolies like the East India Company. If you just rely on the market, the sort of market forces and competition will produce a good outcome. So then he was seen as a great—you know, he is then seen as the apostle of free market capitalism. I mean when I started as a young reporter, when I used to report in Washington, all the conservatives used to wear Adam Smith badges. You don't see Donald Trump wearing an Adam Smith badge, but that was the case.He was also—the other aspect of Smith, which I highlight, which is not often remarked on—he's also a critic of big business. He has a famous section where he discusses the sort of tendency of any group of more than three businessmen when they get together to try and raise prices and conspire against consumers. And he was very suspicious of, as I say, large companies, monopolies. I think if Adam Smith existed today, I mean, I think he would be a big supporter of Lina Khan and the sort of antitrust movement, he would say capitalism is great as long as you have competition, but if you don't have competition it becomes, you know, exploitative.Andrew Keen: Yeah, if Smith came back to live today, you have a chapter on Thomas Piketty, maybe he may not be French, but he may be taking that position about how the rich benefit from the structure of investment. Piketty's core—I've never had Piketty on the show, but I've had some of his followers like Emmanuel Saez from Berkeley. Yeah. How powerful is Piketty's critique of capitalism within the context of the classical economic analysis from Hayek and Friedman? Yeah, it's a very good question.John Cassidy: It's a very good question. I mean, he's a very paradoxical figure, Piketty, in that he obviously shot to world fame and stardom with his book on capital in the 21st century, which in some ways he obviously used the capital as a way of linking himself to Marx, even though he said he never read Marx. But he was basically making the same argument that if you leave capitalism unrestrained and don't do anything about monopolies etc. or wealth, you're going to get massive inequality and he—I think his great contribution, Piketty and the school of people, one of them you mentioned, around him was we sort of had a vague idea that inequality was going up and that, you know, wages were stagnating, etc.What he and his colleagues did is they produced these sort of scientific empirical studies showing in very simple to understand terms how the sort of share of income and wealth of the top 10 percent, the top 5 percent, the top 1 percent and the top 0.1 percent basically skyrocketed from the 1970s to about 2010. And it was, you know, he was an MIT PhD. Saez, who you mentioned, is a Berkeley professor. They were schooled in neoclassical economics at Harvard and MIT and places like that. So the right couldn't dismiss them as sort of, you know, lefties or Trots or whatever who're just sort of making this stuff up. They had to acknowledge that this was actually an empirical reality.I think it did change the whole basis of the debate and it was sort of part of this reaction against capitalism in the 2010s. You know it was obviously linked to the sort of Sanders and the Occupy Wall Street movement at the time. It came out of the—you know, the financial crisis as well when Wall Street disgraced itself. I mean, I wrote a previous book on all that, but people have sort of, I think, forgotten the great reaction against that a decade ago, which I think even Trump sort of exploited, as I say, by using anti-banker rhetoric at the time.So, Piketty was a great figure, I think, from, you know, I was thinking, who are the most influential critics of capitalism in the 21st century? And I think you'd have to put him up there on the list. I'm not saying he's the only one or the most eminent one. But I think he is a central figure. Now, of course, you'd think, well, this is a really powerful critic of capitalism, and nobody's going to pick up, and Bernie's going to take off and everything. But here we are a decade later now. It seems to be what the backlash has produced is a swing to the right, not a swing to the left. So that's, again, a sort of paradox.Andrew Keen: One person I didn't expect to come up in the book, John, and I was fascinated with this chapter, is Silvia Federici. I've tried to get her on the show. We've had some books about her writing and her kind of—I don't know, you treat her critique as a feminist one. The role of women. Why did you choose to write a chapter about Federici and that feminist critique of capitalism?John Cassidy: Right, right. Well, I don't think it was just feminist. I'll explain what I think it was. Two reasons. Number one, I wanted to get more women into the book. I mean, it's in some sense, it is a history of economics and economic critiques. And they are overwhelmingly written by men and women were sort of written out of the narrative of capitalism for a very long time. So I tried to include as many sort of women as actual thinkers as I could and I have a couple of early socialist feminist thinkers, Anna Wheeler and Flora Tristan and then I cover some of the—I cover Rosa Luxemburg as the great sort of tribune of the left revolutionary socialist, communist whatever you want to call it. Anti-capitalist I think is probably also important to note about. Yeah, and then I also have Joan Robinson, but I wanted somebody to do something in the modern era, and I thought Federici, in the world of the Wages for Housework movement, is very interesting from two perspectives.Number one, Federici herself is a Marxist, and I think she probably would still consider herself a revolutionary. She's based in New York, as you know now. She lived in New York for 50 years, but she came from—she's originally Italian and came out of the Italian left in the 1960s, which was very radical. Do you know her? Did you talk to her? I didn't talk to her on this. No, she—I basically relied on, there has been a lot of, as you say, there's been a lot of stuff written about her over the years. She's written, you know, she's given various long interviews and she's written a book herself, a version, a history of housework, so I figured it was all there and it was just a matter of pulling it together.But I think the critique, why the critique is interesting, most of the book is a sort of critique of how capitalism works, you know, in the production or you know, in factories or in offices or you know, wherever capitalist operations are working, but her critique is sort of domestic reproduction, as she calls it, the role of unpaid labor in supporting capitalism. I mean it goes back a long way actually. There was this moment, I sort of trace it back to the 1940s and 1950s when there were feminists in America who were demonstrating outside factories and making the point that you know, the factory workers and the operations of the factory, it couldn't—there's one of the famous sort of tire factory in California demonstrations where the women made the argument, look this factory can't continue to operate unless we feed and clothe the workers and provide the next generation of workers. You know, that's domestic reproduction. So their argument was that housework should be paid and Federici took that idea and a couple of her colleagues, she founded the—it's a global movement, but she founded the most famous branch in New York City in the 1970s. In Park Slope near where I live actually.And they were—you call it feminists, they were feminists in a way, but they were rejected by the sort of mainstream feminist movement, the sort of Gloria Steinems of the world, who Federici was very critical of because she said they ignored, they really just wanted to get women ahead in the sort of capitalist economy and they ignored the sort of underlying from her perspective, the underlying sort of illegitimacy and exploitation of that system. So they were never accepted as part of the feminist movement. They're to the left of the Feminist Movement.Andrew Keen: You mentioned Keynes, of course, so central in all this, particularly his analysis of the role of automation in capitalism. We did a show recently with Robert Skidelsky and I'm sure you're familiar—John Cassidy: Yeah, yeah, great, great biography of Keynes.Andrew Keen: Yeah, the great biographer of Keynes, whose latest book is "Mindless: The Human Condition in the Age of AI." You yourself wrote a brilliant book on the last tech mania and dot-com capitalism. I used it in a lot of my writing and books. What's your analysis of AI in this latest mania and the role generally of manias in the history of capitalism and indeed in critiquing capitalism? Is AI just the next chapter of the dot-com boom?John Cassidy: I think it's a very deep question. I think I'd give two answers to it. In one sense it is just the latest mania the way—I mean, the way capitalism works is we have these, I go back to Kondratiev, one of my Russian economists who ended up being killed by Stalin. He was the sort of inventor of the long wave theory of capitalism. We have these short waves where you have sort of booms and busts driven by finance and debt etc. But we also have long waves driven by technology.And obviously, in the last 40, 50 years, the two big ones are the original deployment of the internet and microchip technology in the sort of 80s and 90s culminating in the dot-com boom of the late 90s, which as you say, I wrote about. Thanks very much for your kind comments on the book. If you just sort of compare it from a financial basis I think they are very similar just in terms of the sort of role of hype from Wall Street in hyping up these companies. The sort of FOMO aspect of it among investors that they you know, you can't miss out. So just buy the companies blindly. And the sort of lionization in the press and the media of, you know, of AI as the sort of great wave of the future.So if you take a sort of skeptical market based approach, I would say, yeah, this is just another sort of another mania which will eventually burst and it looked like it had burst for a few weeks when Trump put the tariffs up, now the market seemed to be recovering. But I think there is, there may be something new about it. I am not, I don't pretend to be a technical expert. I try to rely on the evidence of or the testimony of people who know the systems well and also economists who have studied it. It seems to me the closer you get to it the more alarming it is in terms of the potential shock value that there is there.I mean Trump and the sort of reaction to a larger extent can be traced back to the China shock where we had this global shock to American manufacturing and sort of hollowed out a lot of the industrial areas much of it, like industrial Britain was hollowed out in the 80s. If you, you know, even people like Altman and Elon Musk, they seem to think that this is going to be on a much larger scale than that and will basically, you know, get rid of the professions as they exist. Which would be a huge, huge shock. And I think a lot of the economists who studied this, who four or five years ago were relatively optimistic, people like Daron Acemoglu, David Autor—Andrew Keen: Simon Johnson, of course, who just won the Nobel Prize, and he's from England.John Cassidy: Simon, I did an event with Simon earlier this week. You know they've studied this a lot more closely than I have but I do interview them and I think five, six years ago they were sort of optimistic that you know this could just be a new steam engine or could be a microchip which would lead to sort of a lot more growth, rising productivity, rising productivity is usually associated with rising wages so sure there'd be short-term costs but ultimately it would be a good thing. Now, I think if you speak to them, they see since the, you know, obviously, the OpenAI—the original launch and now there's just this huge arms race with no government involvement at all I think they're coming to the conclusion that rather than being developed to sort of complement human labor, all these systems are just being rushed out to substitute for human labor. And it's just going, if current trends persist, it's going to be a China shock on an even bigger scale.You know what is going to, if that, if they're right, that is going to produce some huge political backlash at some point, that's inevitable. So I know—the thing when the dot-com bubble burst, it didn't really have that much long-term impact on the economy. People lost the sort of fake money they thought they'd made. And then the companies, obviously some of the companies like Amazon and you know Google were real genuine profit-making companies and if you bought them early you made a fortune. But AI does seem a sort of bigger, scarier phenomenon to me. I don't know. I mean, you're close to it. What do you think?Andrew Keen: Well, I'm waiting for a book, John, from you. I think you can combine dot-com and capitalism and its critics. We need you probably to cover it—you know more about it than me. Final question, I mean, it's a wonderful book and we haven't even scratched the surface everyone needs to get it. I enjoyed the chapter, for example, on Karl Polanyi and so much more. I mean, it's a big book. But my final question, John, is do you have any regrets about anyone you left out? The one person I would have liked to have been included was Rawls because of his sort of treatment of capitalism and luck as a kind of casino. I'm not sure whether you gave any thought to Rawls, but is there someone in retrospect you should have had a chapter on that you left out?John Cassidy: There are lots of people I left out. I mean, that's the problem. I mean there have been hundreds and hundreds of critics of capitalism. Rawls, of course, incredibly influential and his idea of the sort of, you know, the veil of ignorance that you should judge things not knowing where you are in the income distribution and then—Andrew Keen: And it's luck. I mean the idea of some people get lucky and some people don't.John Cassidy: It is the luck of the draw, obviously, what card you pull. I think that is a very powerful critique, but I just—because I am more of an expert on economics, I tended to leave out philosophers and sociologists. I mean, you know, you could say, where's Max Weber? Where are the anarchists? You know, where's Emma Goldman? Where's John Kenneth Galbraith, the sort of great mid-century critic of American industrial capitalism? There's so many people that you could include. I mean, I could have written 10 volumes. In fact, I refer in the book to, you know, there's always been a problem. G.D.H. Cole, a famous English historian, wrote a history of socialism back in the 1960s and 70s. You know, just getting to 1850 took him six volumes. So, you've got to pick and choose, and I don't claim this is the history of capitalism and its critics. That would be a ridiculous claim to make. I just claim it's a history written by me, and hopefully the people are interested in it, and they're sufficiently diverse that you can address all the big questions.Andrew Keen: Well it's certainly incredibly timely. Capitalism and its critics—more and more of them. Sometimes they don't even describe themselves as critics of capitalism when they're talking about oligarchs or billionaires, they're really criticizing capitalism. A must read from one of America's leading journalists. And would you call yourself a critic of capitalism, John?John Cassidy: Yeah, I guess I am, to some extent, sure. I mean, I'm not a—you know, I'm not on the far left, but I'd say I'm a center-left critic of capitalism. Yes, definitely, that would be fair.Andrew Keen: And does the left need to learn? Does everyone on the left need to read the book and learn the language of anti-capitalism in a more coherent and honest way?John Cassidy: I hope so. I mean, obviously, I'd be talking my own book there, as they say, but I hope that people on the left, but not just people on the left. I really did try to sort of be fair to the sort of right-wing critiques as well. I included the Carlyle chapter particularly, obviously, but in the later chapters, I also sort of refer to this emerging critique on the right, the sort of economic nationalist critique. So hopefully, I think people on the right could read it to understand the critiques from the left, and people on the left could read it to understand some of the critiques on the right as well.Andrew Keen: Well, it's a lovely book. It's enormously erudite and simultaneously readable. Anyone who likes John Cassidy's work from The New Yorker will love it. Congratulations, John, on the new book, and I'd love to get you back on the show as anti-capitalism in America picks up steam and perhaps manifests itself in the 2028 election. Thank you so much.John Cassidy: Thanks very much for inviting me on, it was fun.Keen On America is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit keenon.substack.com/subscribe

Looking into the Bullwhip effect from last week's Road Check blitz -  How did the market respond? Then, Dean and Dan dive into a brief rant about AI, its impact on logistics, and what the future could hold, based on the insights of some of the most prominent minds of the next "Industrial Revolution." 

In this special episode of NL Hafta, Abhinandan Sekhri, Manisha Pande, Raman Kirpal, Anand Vardhan and Jayashree Arunachalam catch up on all the letters – over 45 of them – that we've received from subscribers.Hafta letters: India-Pakistan, podcast ideas, team feedback, thoughts on patriotismWe have a page for subscribers to send letters to our shows. If you want to write to Hafta, click here. Check out the Newslaundry store and flaunt your love for independent media. Download the Newslaundry app. Timecodes00:00:00 - Introductions00:02:30 - Subscriber letters01:41:30 - RecommendationsRecommendationsAbhinandanCapitalism and Its Critics: A History: From the Industrial Revolution to AIIs Trump Losing? A Debate | The Ezra Klein ShowRamanThe Way I See ItAmerican Manhunt: Osama bin LadenManishaDying For SexAnand Nehru's First Recruits by Kallol Bhattacharjee Jayashree Imperial Life in the Emerald City: Inside Iraq's Green ZoneProduced by Ashish Anand and Hassan Bilal; recorded by Anil Kumar. ​​This episode is outside of the paywall for now. Before it goes behind the paywall, why not subscribe? Get brand-new episodes of all our podcasts every week, while also doing your bit to support independent media. Click here to subscribe. Hosted on Acast. See acast.com/privacy for more information.

Welcome to Dr. M's Women and Children First Podcast, where we explore groundbreaking approaches to health and wellness for women and children. Today, we're honored to introduce Dr. Kevin Boyd, DDS, MSc, a board-certified pediatric dentist and a trailblazer in the field of evolutionary oral medicine. With an illustrious career spanning over three decades, Dr. Boyd practices in Chicago and serves as an attending instructor at Lurie Children's Hospital's Pediatric Dentistry Residency Program, where he also consults for the Sleep Medicine service. Dr. Boyd's unique perspective is rooted in his undergraduate work in Biological Anthropology at Northeastern University as well as a Masters of science in Human Nutrition and Dietetics from Michigan State University. As a Visiting Scholar at the University of Pennsylvania's Museum of Anthropology, he conducts pioneering research into how dietary and lifestyle changes since the Industrial Revolution have impacted craniofacial and respiratory development. His work in Darwinian Dentistry draws on anthropological insights, examining prehistoric fossil records to understand modern systemic diseases, particularly those affecting airway health in children. A passionate advocate for early intervention, Dr. Boyd focuses on preventing and treating craniofacial-respiratory issues in young children, often under age 7, to promote healthy breathing, sleep, and neurocognitive development. Through his global lectures on early childhood malocclusion, pediatric sleep-breathing hygiene, and evolutionary oral medicine, Dr. Boyd is educating clinicians and parents alike. Join us as Dr. Boyd shares his anthropological insights, clinical expertise, and vision for revolutionizing airway health to help women and children thrive. Let's dive in! Dr. M

The energy grid of the future demands a massive amount of materials: billions of solar panels, millions of wind turbines and more. Climate strategist Marielle Remillard reveals why there may be critical shortages ahead — and breaks down how this could also be the biggest business opportunity since the Industrial Revolution.Want to help shape TED's shows going forward? Fill out our survey! Hosted on Acast. See acast.com/privacy for more information.

Greg Jenner is joined in Victorian England by Dr Isabella Rosner and comedian Cariad Lloyd to learn all about the ethos, practitioners and creations of the Arts and Crafts movement.Most people have heard of William Morris, one of the leaders of the Arts and Crafts movement that came to prominence in England in the last decades of the 19th Century. His abstract, nature-inspired designs still adorn everything from wallpaper and curtains to notebooks and even dog beds. And the company he founded, Morris & Co., is still going strong. But the history of this artistic movement, and the other creatives who were involved, is less well known.Arts and Crafts, which advocated a return to traditional handicrafts like needlework, carpentry and ceramics, was a reaction to the Industrial Revolution and included a strong socialist vision: its practitioners wanted everyone to have access to art, and to be able to enjoy homes that were comfortable, functional and beautiful. This episode explores Morris and other creatives both in and outside his circle, including Edward Burne-Jones, May Morris, Gertrude Jekyll and Philip Webb. It looks at the ethos that inspired them, the homes and artworks they created, and asks how radical their political beliefs really were.This is a radio edit of the original podcast episode. For the full-length version, please look further back in the feed.Hosted by: Greg Jenner Research by: Jon Norman-Mason Written by: Emmie Rose Price-Goodfellow, Emma Nagouse, and Greg Jenner Produced by: Emmie Rose Price-Goodfellow and Greg Jenner Audio Producer: Steve Hankey Production Coordinator: Ben Hollands Senior Producer: Emma Nagouse Executive Editor: James Cook

Throughout history, technological revolutions have fundamentally shifted the balance of power in society. The Industrial Revolution created conditions where democracies could dominate for the first time — as nations needed educated, informed, and empowered citizens to deploy advanced technologies and remain competitive.Unfortunately, there's every reason to think artificial general intelligence (AGI) will reverse that trend.In a new paper, Tom Davidson — senior research fellow at the Forethought Centre for AI Strategy — argues that advanced AI systems will enable unprecedented power grabs by tiny groups of people, primarily by removing the need for other human beings to participate.These highlights are from episode #215 of The 80,000 Hours Podcast: Tom Davidson on how AI-enabled coups could allow a tiny group to seize power, and include:"No person rules alone" — except now they might (00:00:13)The 3 threat scenarios (00:06:17)Underpinning all 3 threats: Secret AI loyalties (00:10:15)Is this common sense or far-fetched? (00:13:46)How to automate a military coup (00:17:41)If you took over the US, could you take over the whole world? (00:22:44)Secret loyalties all the way down (00:26:27)Is it important to have more than one powerful AI country? (00:29:59)What transparency actually looks like (00:33:08)These aren't necessarily the most important or even most entertaining parts of the interview — so if you enjoy this, we strongly recommend checking out the full episode!And if you're finding these highlights episodes valuable, please let us know by emailing podcast@80000hours.org.Highlights put together by Ben Cordell, Milo McGuire, and Dominic Armstrong

REALIGNMENT NEWSLETTER: https://therealignment.substack.com/PURCHASE BOOKS AT OUR BOOKSHOP: https://bookshop.org/shop/therealignmentEmail Us: realignmentpod@gmail.comJohn Cassidy, New Yorker Staff Writer and author of Capitalism and Its Critics: A History from the Industrial Revolution to AI, joins The Realignment. Marshall and John discuss the rise of anti-capitalist sentiment on the left and right, from President Trump's economic nationalism to the democratic socialism of Senator Bernie Sanders, the missed opportunities of the globalization era, the failures of trade policy, the coming AI disruption, and tensions between tech and democracy.

Former Sen. Phil Gramm joins Jonah Goldberg to discuss his new book, The Triumph of Economic Freedom: Debunking the Seven Great Myths of American Capitalism. Phil and Jonah reminisce on the triumphs of the Industrial Revolution, better days in Congress, and Ronald Reagan's disdain for protectionism. Show Notes:—Order Sen. Gramm's book, The Triumph of Economic Freedom: Debunking the Seven Great Myths of American Capitalism The Remnant is a production of The Dispatch, a digital media company covering politics, policy, and culture from a non-partisan, conservative perspective. To access all of The Dispatch's offerings—including Jonah's G-File newsletter, regular livestreams, and other members-only content—click here. Learn more about your ad choices. Visit megaphone.fm/adchoices

John Cassidy, staff writer at The New Yorker and the author of Capitalism and Its Critics: A History: From the Industrial Revolution to AI (Macmillan, 2025), traces the last three hundred years of global capitalism from its beginnings. 

Amid rising concerns about AI, inequality, trade wars, and globalization, New Yorker staff writer and Pulitzer Prize finalist John Cassidy takes a bold approach: he tells the story of capitalism through its most influential critics. From the Luddites and early communists to the Wages for Housework movement and modern degrowth advocates, Cassidy's global narrative features both iconic thinkers—Smith, Marx, Keynes—and lesser-known voices like Flora Tristan, J.C. Kumarappa, and Samir Amin. John Cassidy has been a staff writer at The New Yorker since 1995. He writes a regular column, The Financial Page. He holds degrees from Oxford, Columbia, and New York Universities. His new book is Capitalism and Its Critics: A History from the Industrial Revolution to AI.

“Fusion… unlocks 20 to 100 million times more energy than traditional energy sources like coal or oil or gas,” says Whitney Tilson, lead analyst for Stansberry Investment Advisory and a 2025 New York City mayoral candidate. In a conversation with Daniela Cambone, Tilson shares his conviction that nuclear fusion—what he calls Amazon Helios—will be a revolutionary energy source poised to transform humanity in the coming years.. Fusion is not only ultra-efficient, he explains, but also runs on hydrogen, “the most abundant element in the universe.” He predicts this new energy breakthrough will disrupt the global energy economy and render traditional energy sources like oil, gas, and coal “losers.” Tilson also discusses his political ambitions and his mission to address New York City's long-standing issues. Key Facts:Why Fusion Could Surpass the Industrial Revolution and AIThe energy breakthrough catching the attention of Bezos and ZuckerbergWhitney Tilson on discovering "Amazon Helios"What will S&P be headed?

In this episode of the Maverick Activation Initiative podcast, host Cal Knight welcomes listeners on a journey of self-discovery and awakening. Focused on challenging conventional beliefs, the podcast dives deep into the nature of time, questioning whether it is truly linear. Cal examines how our perception of time influences our lives, referencing historical contexts like the Industrial Revolution and offering philosophical and spiritual perspectives. He invites listeners to rethink their understanding of time, urging them to value their relationships, experiences, and authentic selves. Tune in to explore how an expanded awareness of time can transform your life.

POPE LEO XIV, Cardinal Robert Prevost, was elected this week to succeed Pope Francis, becoming the first American pope in history. We discuss the possible reasons for Leo's choice of that papal name. Pope Leo XIII, who served 1878–1903, is remembered for emphasizing the veneration of Mary and her status as “Mediatrix” and “Co-Redemptrix.” (There is no blblical support for the role of Mary in our redemption.) Leo XIII was also known for championing the rights of workers to fair wages and safe working conditions during the Industrial Revolution. Leo I, also called Leo the Great, was pope between 440 and 461 AD. He's remembered for laying the theological foundation for the Council of Chalcedon, which defined the nature of Jesus as both human and divine in one person, but perhaps best known for meeting with Attila the Hun and talking the barbarian out of invading Italy. Also: Cult leader and self-proclaimed Mahdi Abdullah Hashem calls on Arabs and Jews to build the Third Temple. Read the story by Adam Eliyahu Berkowitz at Israel365 News: https://bit.ly/Abdullah-temple Our new book The Gates of Hell is now available in paperback, Kindle, and as an audiobook at Audible! Derek's new book Destination: Earth, co-authored with Donna Howell and Allie Anderson, is now available in paperback, Kindle, and as an audiobook at Audible! Sharon's niece, Sarah Sachleben, was recently diagnosed with stage 4 bowel cancer, and the medical bills are piling up. If you are led to help, please go to GilbertHouse.org/hopeforsarah. Follow us! X (formerly Twitter): @pidradio | @sharonkgilbert | @derekgilbert | @gilberthouse_tvTelegram: t.me/gilberthouse | t.me/sharonsroom | t.me/viewfromthebunkerSubstack: gilberthouse.substack.comYouTube: @GilbertHouse | @UnravelingRevelationFacebook.com/pidradio —————— JOIN US AND SPECIAL GUEST CARL TEICHRIB IN ISRAEL! We will tour the Holy Land October 19–30, 2025, with an optional three-day extension in Jordan. For more information, log on to GilbertHouse.org/travel. Thank you for making our Build Barn Better project a reality! Our 1,200 square foot pole barn has a new HVAC system, epoxy floor, 100-amp electric service, new windows, insulation, lights, and ceiling fans! If you are so led, you can help out by clicking here: gilberthouse.org/donate. Get our free app! It connects you to this podcast, our weekly Bible studies, and our weekly video programs Unraveling Revelation and A View from the Bunker. The app is available for iOS, Android, Roku, and Apple TV. Links to the app stores are at pidradio.com/app. Video on demand of our best teachings! Stream presentations and teachings based on our research at our new video on demand site: gilberthouse.org/video! Think better, feel better! Our partners at Simply Clean Foods offer freeze-dried, 100% GMO-free food and delicious, vacuum-packed fair trade coffee from Honduras. Find out more at GilbertHouse.org/store/.

The full version of this episode (74 minutes & Ad-free) is available for Silk+ Members (FREE for a limited time!) and includes access to over 600 more episodes from these podcasts: Calm History (90+ episodes) Sleep Whispers (430+ episodes) ASMR Sleep Station (50+ episodes) 1 & 8-Hour Nature Sounds (50+ episodes) 1 & 8-Hour Background Sounds (30 episodes) Counselor Curt ASMR (20+ episodes) … Continue reading *Sample* | 1-Hour History of Coal: Geology, Discovery, Industrial Revolution, & Coal Miner Experiences | Relax & Sleep with History (Bonus Episode #63)

The energy grid of the future demands a massive amount of materials: billions of solar panels, millions of wind turbines and more. Climate strategist Marielle Remillard reveals why there may be critical shortages ahead — and breaks down how this could also be the biggest business opportunity since the Industrial Revolution.

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The energy grid of the future demands a massive amount of materials: billions of solar panels, millions of wind turbines and more. Climate strategist Marielle Remillard reveals why there may be critical shortages ahead — and breaks down how this could also be the biggest business opportunity since the Industrial Revolution.

Online, there is a name for the experience of finding sympathy with Ted Kaczynski, the Unabomber: Tedpilling. To be Tedpilled means to read Paragraph 1 of Kaczynski's manifesto, its assertion that the mad dash of technological advancement since the Industrial Revolution has “made life unfulfilling,” “led to widespread psychological suffering” and “inflicted severe damage on the natural world,” and think, Well, sure.Since Kaczynski's death by suicide in a federal prison in North Carolina nearly two years ago, the taboo surrounding the figure has been weakening. This is especially true on the right, where pessimism and paranoia about technology — largely the province of the left not long ago — have spread on the heels of the coronavirus pandemic and efforts to police speech on social media platforms. Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.

Cake has been around for a long time, but mostly less than great forms. It took the Industrial Revolution, the advent of plentiful sugar, and some good old American know-how to come together to make the cake we know and love today. Find out all about it in this classic episode.See omnystudio.com/listener for privacy information.