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A collection of essays by FEE President Lawrence W. Reed and historian Burton W. Folsom, Jr. that surveys the economic history of the United States and the modern world. Along the way, they dismiss commonly-held fallacies and present the stories of the individuals who changed history and expanded liberty for everyone.

From the Preface:
Economics as it taught today is relate with fallacies. So is History. Combine the two into Economic History and you frequently get a witch’s brew of mumbo jumbo.
The industrial Revolution was a setback for workers. Free markets caused monopoly and exploitation. Government intervention was required for economic growth and for economic recovery. These are but a few of the many misconceptions that constantly need revisiting, and are addressed with this volume.
The authors recognize that both economics and history must be about much more than numbers. That’s why many of the offerings here focus on the interesting contributions of people who changed the course of events. One of the essential points we hope readers of this anthology will come away with is the critical importance of specific individuals in shaping the course of the amorphous collective known as “society”.
Lawrence W. Reed, Burton W. Folsom Jr.

Lawrence W. Reed

Lawrence W. (Larry) Reed (born September 29, 1953) is president of the Foundation for Economic Education (FEE), offices in Irvington-on-Hudson, New York, and Atlanta, Georgia, a position he has held since September 1, 2008. Before joining FEE, Reed served as president of the Mackinac Center for Public Policy, a Midland, Michigan based free-market think tank. To date, he remains Mackinac’s president emeritus.

Reed has authored over 1,000 columns and articles dozens in newspapers, magazines and journals in the U. S. and abroad, as well as five books. He has lectured in dozens of nations. Reed’s articles have appeared in The Wall Street Journal, Christian Science Monitor, USA Today, Baltimore Sun, Detroit News and Detroit Free Press, among many others. His interests in political and economic affairs have taken him to 72 countries on six continents. He holds a B.A. degree in Economics from Grove City College (1975) and an M.A. degree in History from Slippery Rock State University (1978), both in Pennsylvania. He holds two honorary doctorates from Central Michigan University (Public Administration—1993) and Northwood University (Laws—2008). He is a member of the Mont Pelerin Society and is an adviser to numerous organizations around the world. A full bio is available at FEE.org and on Wikipedia. 

Burton W. Folsom Jr.

Burt Folsom is a professor of History at Hillsdale College, a senior fellow in economic education for the Mackinac Center for Public Policy, and senior historian for the Foundation for Economic Education. He holds a Ph.D. from the University of Pittsburgh. His B.A. and M.A. degrees in history are from Indiana University and the University of Nebraska, respectively. Folsom has published many articles and books, including the widely acclaimed The Myth of the Robber Barons. His two most recent books are New Deal or Raw Deal? How FDR’s Economic Legacy Damaged America and FDR Goes to War: How Expanded Executive Power, Spiraling National Debt and Restricted Civil Liberties Shaped Wartime America. He lectures widely throughout the U.S. and is a regular speaker at FEE's summer seminars for college students.