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Episode One: The Battle of Ideas

Chapter 1: Prologue 3:55
  • The present situation
  • Title sequence

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About the Book
Chapter 2: The Old Order Fails 8:11
  • Meet Keynes and Hayek
  • The first era of globalization
  • World war and revolution
  • Keynes foresees disaster

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Profile: John Maynard Keynes; Profile: Friedrich von Hayek; Key Events: The World in 1910; Country Report: Russia 1917; Profile: Karl Marx (and Engels); Essay: Lenin on Global Trade; Essay: Consequences of the Peace
Chapter 3: Communism on the Heights 6:16
  • Hayek explores socialism
  • The Austrian School's critique
  • What Lenin learned
  • Stalin's totalitarian plan

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Profile: Friedrich von Hayek; Country Report: Russia 1922; Profile: Vladimir Lenin; Profile: Joseph Stalin
Chapter 4: A Capitalist Collapse 8:48
  • German hyperinflation
  • American boom and bust
  • Fascism takes hold in Europe
  • Can Keynes save capitalism?

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Country Report: Germany 1923; Essay: German Hyperinflation; Country Report: USA 1929; Fascism in Germany; Fascism in Italy; Interview: Robert Skidelsky
Chapter 5: Global Depression 5:26
  • Roosevelt improvises
  • Regulating the markets
  • Keynes completes his Theory
  • Keynes's apostles in America

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Country Report: USA 1933; Essay: The Prophet of Regulation; Essay: Keynes' Theory; Interview: Robert Skidelsky; Interview: John Kenneth Galbraith
Chapter 6: Worldwide War 7:00
  • A victory for planning
  • Hayek's warning
  • Keynes at Bretton Woods
  • World at a crossroads

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Wartime Economies; Essay: The Road to Serfdom; Info: The Bretton Woods Legacy; Interview: Jeffrey Sachs
Chapter 7: Planning the Peace 6:47
  • Britain seeks "fair shares"
  • Churchill's defeat
  • Labor nationalizes the heights
  • Communism's rapid gains

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Country Report: Britain 1945; Interview: Tony Benn; Interview: Barbara Castle; Essay: Blueprint for Socialism; Essay: Nationalizing the Heights; Country Reports: Russia 1945, Poland 1947, Czechoslovakia 1948, Hungary 1949, China 1949
Chapter 8: Pilgrim Mountain 3:43
  • Hayek's Mont Pélerin conference
  • Enter Milton Friedman
  • Democracy and free markets
  • A long fight ahead

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Interview: Ralph Harris; Interview: Milton Friedman
Chapter 9: Germany's Bold Move 4:11
  • The ruins of postwar Germany
  • Price controls vs. inflation
  • Erhard defies the Allies
  • The market economy revives

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Country Report: Germany 1947; Profile: More on Ludwig Erhard; Essay: Germany's Ordoliberals; Interview: Milton Friedman; Ending Price Controls: Poland 1989, Russia 1992; Ten years on: Germany 1958, England 1958; Compare: Japan 1945-53
Chapter 10: India's Way 3:51
  • Nehru and Gandhi part ways
  • A science of central planning
  • The Mahalanobis equation
  • A socialist model for development

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Country Report: India 1947; Profile: Nehru and Gandhi part ways; Up for Debate: India and Planning; "The Big Push"; Socialist Development: Cuba 1961, Tanzania 1967, Nkrumah and Ghana
Chapter 11: Chicago Against the Tide 7:32
  • Outside the mainstream
  • The spirit of Chicago
  • Harnessing economic forces
  • The Keynesian high tide

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More from Chicago: Milton Friedman, Al Harberger, George Schultz; The Keynesians Deliver: USA, Germany, France, Italy, Sweden
Chapter 12: The Specter of Stagflation 6:34
  • Hayek in eclipse
  • Stagflation besets America
  • Nixon becomes a Keynesian
  • U.S. wage and price controls

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Contry Report: USA 1971; Interview: George Schultz; Interview: Milton Friedman; Interview: Richard Cheney; Essay: When Currencies Began to Float; Essay: Nixon Tries Price Controls
Chapter 13: A Mixed Economy Flounders 8:36
  • Britain under price controls
  • The "Mad Monk" repents
  • The grocer's daughter listens
  • Thatcher and Hayek

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Country Report: Britain 1973; Interview: Kenneth Baker; Interview: Ralph Harris Interview; Profile: More about Keith Joseph; Profile: More on Margaret; Essay: The Road To Serfdom
Chapter 14: Deregulation Takes Off 7:29
  • America bogged down
  • The airlines and Panamania
  • Deregulating the sandwiches
  • Costs and benefits

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Country Report: USA 1974; Up for Debate: Deregulation
Chapter 15: Thatcher Takes the Helm 3:50
  • The Winter of Discontent
  • Hayek's birthday present
  • Shock therapy for Britain
  • The lady's not for turning

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Country Report: Britain 1979; Profile: Margaret Thatcher
Chapter 16: Reagan Rides In 8:17
  • The double-digit dragon
  • Volcker at the Fed
  • Reagan tightens the reins
  • Tax cuts, deregulation, deficits

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Country Report: USA 1979-1988; Interview: Paul Volcker; Essay: Reaganomics; Up for Debate: Reaganomics
Chapter 17: War in the South Atlantic 1:41
  • Argentina attacks
  • Thatcher gambles all
  • Victory's dividend
  • An economic sea change

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Country Reports: Britain 1982, Argentina 1982
Chapter 18: The Heights Go Up for Sale 8:08
  • Targeting state-owned industries
  • The economics of coal
  • Breaking the miners' strike
  • Socialism turned back

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Essay: How Nationalization Began; Essay: The Birth of Privatization; Interview: Ken Capstick; Interview: Gordon Brown; Up For Debate: Privatization and the Thatcher Legacy
Chapter 19: The Battle Decided? 3:26
  • Idea politicians
  • The whole world watches
  • A century comes full circle
  • The battle decided for good?

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Interview: Jeffery Sachs; Interview: Newt Gingrich; Interview: George Schultz; Interview: Milton Friedman; Interview: Lawrence Summers


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