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Episode I: The Battle of Ideas

Chapter 1: Prologue

  • The present situation
  • Title sequence

Chapter 2: The Old Order Fails

  • Meet Keynes and Hayek
  • The first era of globalization
  • World war and revolution
  • Keynes foresees disaster

Chapter 3: Communism on the Heights

  • Hayek explores socialism
  • The Austrian School's critique
  • What Lenin learned
  • Stalin's totalitarian plan

Chapter 4: A Capitalist Collapse

  • German hyperinflation
  • American boom and bust
  • Fascism takes hold in Europe
  • Can Keynes save capitalism?

Chapter 5: Global Depression

  • Roosevelt improvises
  • Regulating the markets
  • Keynes completes his Theory
  • Keynes's apostles in America

Chapter 6: Worldwide War

  • A victory for planning
  • Hayek's warning
  • Keynes at Bretton Woods
  • World at a crossroads

Chapter 7: Planning the Peace

  • Britain seeks "fair shares"
  • Churchill's defeat
  • Labor nationalizes the heights
  • Communism's rapid gains

Chapter 8: Pilgrim Mountain

  • Hayek's Mont Pélerin conference
  • Enter Milton Friedman
  • Democracy and free markets
  • A long fight ahead

Chapter 9: Germany's Bold Move

  • The ruins of postwar Germany
  • Price controls vs. inflation
  • Erhard defies the Allies
  • The market economy revives

Chapter 10: India's Way

  • Nehru and Gandhi part ways
  • A science of central planning
  • The Mahalanobis equation
  • A socialist model for development

Chapter 11: Chicago Against the Tide

  • Outside the mainstream
  • The spirit of Chicago
  • Harnessing economic forces
  • The Keynesian high tide

Chapter 12: The Specter of Stagflation

  • Hayek in eclipse
  • Stagflation besets America
  • Nixon becomes a Keynesian
  • U.S. wage and price controls

Chapter 13: A Mixed Economy Flounders

  • Britain under price controls
  • The "Mad Monk" repents
  • The grocer's daughter listens
  • Thatcher and Hayek

Chapter 14: Deregulation Takes Off

  • America bogged down
  • The airlines and Panamania
  • Deregulating the sandwiches
  • Costs and benefits

Chapter 15: Thatcher Takes the Helm

  • The Winter of Discontent
  • Hayek's birthday present
  • Shock therapy for Britain
  • The lady's not for turning

Chapter 16: Reagan Rides In

  • The double-digit dragon
  • Volcker at the Fed
  • Reagan tightens the reins
  • Tax cuts, deregulation, deficits

Chapter 17: War in the South Atlantic

  • Argentina attacks
  • Thatcher gambles all
  • Victory's dividend
  • An economic sea change

Chapter 18: The Heights Go Up for Sale

  • Targeting state-owned industries
  • The economics of coal
  • Breaking the miners' strike
  • Can Keynes save capitalism?

Chapter 19: The Battle Decided?

  • Idea politicians
  • The whole world watches
  • A century comes full circle
  • The battle decided for good?


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