logo
episode-header-image
Apr 2025
28m 56s

Invisible Hands: 2. The Mad Monk

Bbc Radio 4
About this episode

A man throws up in a taxi on his way to an interview. He is nervous because he is about to make an argument. It’s an argument that would change politics forever.

His name was Keith Joseph. And this would be the start of a radical journey - from conventional conservative politician to ideological warrior and guru for Margaret Thatcher. Joseph set out on a tour of the country. He had eggs thrown at him, Marxist flags waved in his face. He was spat at. Heckled. All because he was arguing for one thing - the free markets.

David Dimbleby traces the history of an idea that spans his life. It started on a chicken farm in Sussex, gained traction in the shadows of post-war London and rose to heights of excess in the new champagne bars of the City. It's 2025 and this once radical idea now defines every aspect of life in Britain. An idea that transformed the economy, politics and, ultimately, society itself.

But how did it happen? Who are the little-known people behind it? What did they want? And - as Donald Trump threatens to overturn the global economic system - is the free market here to stay? Or are we entering a new era?

Presenter: David Dimbleby Producer: Jo Barratt Executive Producers and Story Editors: Joe Sykes and Dasha Lisitsina Sound design: Peregrine Andrews Commissioning Editor: Dan Clarke

A Samizdat Audio production for BBC Radio 4

Up next
Apr 2025
Invisible Hands: 3. Selling The Silver
<p>A young banker sits in front of a book full of balance sheets. Boring work. But he has come to a realisation. And it’s a realisation that will, in a few short years, transform Britain. This banker - John Redwood - had realised that the best way to turn the country into a free ... Show More
29m 20s
Apr 2025
Invisible Hands: 4. The Big Bang
<p>Thatcher and her capitalist dreamers' next big gamble was a radical shake-up of London’s financial sector. They called it Big Bang. Seemingly overnight, the stuffy old City of London was replaced by a fast-paced world of risk-takers, rule-breakers, and yuppies brandishing mobi ... Show More
29m 19s
Apr 2025
Invisible Hands: 5. The Lucky Gambler
<p>James Goldsmith was a billionaire tycoon who thrived in the free-market revolution. He was a corporate raider who conquered both the City of London and Wall Street. He was a playboy – four wives, a host of mistresses and a reputation as outsized as a Bond villain. Then in 1987 ... Show More
29m 12s
Recommended Episodes
Oct 2025
Who’s Going To Win The Future? Dan Wang on China’s Engineers vs. America’s Lawyers | GoodFellows | Hoover Institution
<p>One great power (China) has a relentless thirst to build that comes with a terrible human cost, while its main rival (America) is a more lawyerly and free society that’s prone to stifling ideas both good and bad. On the 76th anniversary of the founding of the People’s Republic ... Show More
1h 7m
Oct 2025
The Cold War
For decades after the Second World War, the Soviet Union and the United States of America were locked in a conflict of ideology that took the planet to the brink of catastrophe. Known as the Cold War, it was an era of paranoia, fear and mutual suspicion, where the contest for sup ... Show More
57m 50s
Nov 2025
Xi Jinping’s World of Treachery and Sacrifice
<p>Last week’s meeting between Donald Trump and Xi Jinping may have brought a respite in the trade war. But it hardly touched the more fundamental drivers of U.S.-Chinese rivalry, a rivalry that has come to shape more and more dimensions of geopolitics, the global economy, and be ... Show More
56m 45s
Oct 2025
Starmer ally: Come clean on relations with China after spy row
It’s been a week where the politics of the Middle East and Britain’s relations with China have loomed large over Westminster. For all the backslapping and goodwill of Sharm el-Sheikh, will the ceasefire and exchange of hostages and prisoners in Gaza pave the way for a political s ... Show More
31m 34s
Feb 2024
A life in the American century
<p>With the United States’ presidential election just a few months away, the stakes go far beyond domestic politics. The results will decide the future of American foreign policy, at least for the next four years. In the corridors of power in Washington, US policymakers will need ... Show More
37m 6s
Oct 2025
88. China vs Google: When Beijing Took on Silicon Valley (Ep 1)
"Like many other well-known organisations, we face cyber attacks of varying degrees on a regular basis." This was the striking public statement from Google's chief legal officer in January 2010. What began as a major security incident - a "highly sophisticated and targeted attack ... Show More
41m 52s
Dec 2018
Daniel Kurtz-Phelan on George Marshall’s China Mission
Daniel Kurtz-Phelan, the executive editor of Foreign Affairs, is the author of the recent book The China Mission: George Marshall's Unfinished War, 1945–1947. George Marshall, World War II hero and creator of the Marshall Plan, spent 1945-47 drinking baijiu with Mao and playing c ... Show More
55m 44s
Jul 2024
Taiwan’s 100-Year Rise From Japanese Colony to Monopoly Producer of Microchips
When global supply chains were shut down in 2020 and messily rebooted after COVID lockdowns ceased, one island nation emerged as the most important player in getting critical components to factories around the world. That was Taiwan, which produces 90 percent of the world’s advan ... Show More
43m 5s