The Triumph of Economic Freedom | Book Talk & Reception

In a November 10 discussion with the Regulatory Studies Center, authors of a new book on economic history discussed the lessons gleaned in The Triumph of Economic Freedom: Debunking the Seven Great Myths of American Capitalism. Former U.S. Senator Phil Gramm (Texas) and George Mason University economics professor Donald Boudreaux shared insights and explored the transformative power of free markets in conversation with Trachtenberg Professor of Practice Susan Dudley. 

The book challenges prevailing narratives about capitalism, such as the widely held misconception that rising incomes at the top of the wealth distribution automatically result in less growth and affluence for everyone else. Skyrocketing fortunes like that of tech mogul Elon Musk grab daily news headlines, Gramm said, but households at all income levels can benefit from Musk's products as prices are driven down by innovation and competition in the marketplace. 

Dudley lauded the analytical approach Boudreaux and Gramm used in the book to frame common beliefs about capitalism: setting up a myth, interrogating why it persists, and then showing statistics and context to debunk the assumptions behind it. 

Throughout history, economic change and disruption have driven calls for greater government intervention. With The Triumph of Economic Freedom, Gramm and Boudreaux have constructed compelling arguments for how a heavy-handed approach to markets can threaten, rather than advance, prosperity. The Regulatory Studies Center thanks co-sponsors GW Law, the Trachtenberg School, and the GW Department of Economics for making this book talk possible.

Co-Hosted by:
GW Regulatory Studies Center
Trachtenberg School of Public Policy and Public Administration
GW Law
GW Economics Department