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Explaining History

The origins of global free markets 1840-2001

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In this episode of the Explaining History podcast, we embark on a journey through modern economic history, tracing the evolution of global free markets from the height of Victorian Britain to the transformative concepts of Francis Fukuyama's "End of History." Drawing insights from the seminal work "False Dawn: The Delusions of Global Capitalism" by renowned scholar John Gray, we delve deep into the intricate web of economic, political, and social forces that have shaped our world.


This episode guides us through a narrative that illuminates the critical junctures, key figures, and paradigm-shifting events that have defined the trajectory of global capitalism. With a keen focus on historical context and nuanced analysis, we examine the rise of free markets during the 19th century, their role in the world wars, and their triumph during the late 20th century.


John Gray's incisive critique serves as our compass, challenging us to reconsider the assumptions that underpin the global capitalist system. As we explore the promises and pitfalls of unrestricted markets, we question whether Fukuyama's vision of "The End of History" has truly come to pass or if it remains an elusive goal.


Whether you're a history enthusiast, an economics buff, or simply curious about the forces that have shaped our modern world, this episode offers a captivating exploration of global free markets' tumultuous journey, underpinned by the invaluable insights of John Gray's "False Dawn." Join us on this intellectual odyssey as we navigate the complex terrain of capitalism's evolution and its enduring impact on our lives.


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