December 17, 2004
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Episode One: The Battle of Ideas











- The present situation
- Title sequence



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









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



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









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



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









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



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









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



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









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



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









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



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









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



- Targeting state-owned industries
- The economics of coal
- Breaking the miners' strike
- Socialism turned back









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



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









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


Episode Two: The Agony of Reform











- A perilous interdependence
- The capitalist revolution
- Title sequence



- Poland in crisis
- A phone call ends the Cold War
- Extraordinary politics
- Watching the price of eggs









- Slow trains to Siberia
- The gulag economy
- The essence of Soviet power
- Socialism's influence



- Privatizing state industries
- Solidarity loses support
- The hardest hit had helped most
- Poland's entrepreneurial drive









- A double agent escapes
- What Gordievsky knew
- The true cost of military might
- No water, no fire, no incentives



- Yavlinsky's report
- Gorbachev hesitates
- Visiting Deng Xiaoping
- No easy way out









- Central planning and corruption
- Protection vs. innovation
- The shortage economy
- Hindustan vs. Toyota



- Hard-liners strike back
- The Soviet Union disintegrates
- No one at the controls
- The boys in pink shorts









- A shared suspicion of trade
- Doomed to underdevelopment?
- Dependency theory explained
- The cost of closed markets



- Jump-starting the market
- The old guard fuels inflation
- Norilsk in despair
- Belief undermined









- The left wins an election
- Allende is assassinated
- An economy doesn't obey orders
- Seeking a serious blueprint



- Watching Russia go down
- Bankruptcy ahead
- Turning against the party
- Ending the Permit Raj









- What Chicago stood for
- Cutting the tail off the dog
- Growth at a high human price
- A tainted legacy



- Voucher capitalism
- Bolshevik biscuits
- Gaidar sacrificed
- The Wild East









- A campfire conspiracy
- Enter Gorbachev
- The pantyhose commission
- New pressure from the West



- Up against the Red Directors
- Filatov of Norilsk
- Fighting a Communist comeback
- Yeltsin and the oligarchs









- Thatcher's demand
- The shipyards of Gdansk
- A longing for freedom
- The crucial meeting



- This way or nothing?
- Potanin takes Norilsk
- Responsibility comes later
- Russia defaults; Yeltsin resigns









- Coups and hyperinflation
- Bolivia confronts the tiger
- Unreasonable amounts of money
- Cocktails in La Paz



- Poland begins to thrive
- Mixed results in Latin America
- India's new growth
- Russia moves forward









- The bad news all at once
- Common economic sense
- The effect on Latin America
- We did it in a democracy

- The present situation
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