Phillip Magness Exposes the Historical Lies That Influence Modern Economics

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How well do we really understand economic history, and how does it impact our present-day policies?

In this episode, economic historian Phillip Magness challenges widely held views about the Great Depression, slavery’s impact on the U.S. economy, and government intervention in economic crises.

Magness, known for his interdisciplinary work in both economics and history, shares insights on how government policies have often done more harm than good.

Magness discusses how women’s entry into the workforce post-WWII reshaped economic dynamics, the failures of tariffs to protect domestic industries, and the harmful economic effects of slavery. His insights invite listeners to rethink how historical misconceptions continue to shape modern economic policies.

If you’re interested in understanding the true impact of historical events on today’s economic landscape, this is a must-listen episode.

Listen now to discover how misunderstood policies and historical events continue to influence the present day.

Key Takeaways 

Introduction (00:00)

Who is an economic historian? (01:05)

Learning from historical economic mistakes (03:20)

Impact of World War II on the economy (06:18)

Sustainability of tariffs as economic and diplomatic tools (12:58)

19th-century economic insights - Henry Clay’s 1824 Plan (16:33)

Slavery's negative economic impact (19:53)

Modern economic challenges and free trade (38:46)

Phillip’s writing and research process (49:17)

Critique of the 1619 project (59:15)

Implications of the growing national debt (01:24:49)

Additional Resources

Connect with Phillip Magness

Website: https://www.independent.org/aboutus/person_detail.asp?id=3777

Twitter/X: https://x.com/PhilWMagness

📖 Books: https://www.amazon.com/stores/Phillip-W.-Magness/author/B004IA7HBI

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