Ep 10. The Myth of Laissez-Faire

The Skeptic's Guide to American History is a popular show that aims to uncover the truth behind some of America's most storied historical myths and legends. In season 1 episode 10, entitled "The Myth of Laissez-Faire," hosts Brian, Jay, and Evan delve into the complex and controversial topic of laissez-faire economics in America.

For those unfamiliar with the term, laissez-faire is a French phrase that roughly translates to "let do" or "let things be." It refers to an economic philosophy that advocates for minimal government intervention in the marketplace, allowing businesses and individuals to operate with maximum freedom and autonomy. While laissez-faire economics has long been a popular doctrine among conservative and libertarian thinkers, it has also been the subject of much criticism and debate over the years.

In this episode, the hosts explore the origins and evolution of laissez-faire economics in America, from its earliest proponents in the colonial era to its modern-day proponents in the Republican Party. They examine the key arguments advanced by laissez-faire advocates, such as the idea that free markets lead to greater economic growth, innovation, and prosperity for all.

However, they also highlight the numerous ways in which laissez-faire economics has been challenged and even debunked over the years. They look at historical examples of government intervention in the economy, such as the New Deal in the 1930s, and argue that such interventions were necessary to address market failures and ensure greater economic justice.

Throughout the episode, the hosts engage in a lively and informative discussion about the pros and cons of laissez-faire economics, raising important questions about the role of government in a free market society. They ultimately challenge the myth that laissez-faire economics is the only way to achieve economic success, and argue that a more balanced and nuanced approach is needed in order to truly promote prosperity for all Americans.

Overall, "The Myth of Laissez-Faire" is a thought-provoking and informative episode of The Skeptic's Guide to American History, offering a fresh perspective on one of America's most enduring economic debates. Whether you're a history buff, an economics enthusiast, or simply interested in learning more about the intersection of politics and economics in America, this episode is sure to be a must-watch.