Live Online Book Forum 

# *Crushing Capitalism*

### *How Populist Policies Are Threatening the American Dream* 

Published By Cato Institute • 2025 

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Date and Time 

May 8, 2025 2:30 - 3:30 PM EDT 

Location 

Live Online 

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##### Featuring 

[![Norbert Michel Cropped](/sites/cato.org/files/styles/author_picture/public/2025-01/norbert-m-cropped.jpg?itok=8WIx97Dk)](/people/norbert-michel) 

[Norbert J. Michel](/people/norbert-michel)

Vice President and Director, Center for Monetary and Financial Alternatives, Cato Institute

[ 

](https://x.com/norbertjmichel) 

![Megan McArdle](/sites/cato.org/files/styles/author_picture/public/2021-04/megan-mcardle-300x300.jpg?itok=fj9_fori) 

Megan McArdle 

Columnist, *Washington Post*

[ 

](https://twitter.com/asymmetricinfo) 

[![Adam N. Michel cropped](/sites/cato.org/files/styles/author_picture/public/2023-02/adam-michel-cropped.jpg?itok=2xIg84-_)](/people/adam-n-michel) 

[Adam N. Michel](/people/adam-n-michel)

Director of Tax Policy Studies, Cato Institute; Former Deputy Staff Director at the US Congress Joint Economic Committee

[ 

](https://x.com/adamnmichel) 

Populist narratives are gaining traction across the political spectrum, claiming that free markets have failed the American middle class. Critics argue that trade, immigration, and technological change have hollowed out manufacturing jobs and created an economy that no longer works for most Americans.

In [*Crushing Capitalism: How Populist Policies Are Threatening the American Dream*](https://www.cato.org/books/crushing-capitalism), economist Norbert J. Michel challenges this bleak interpretation. Drawing on historical data and contemporary analysis, Michel argues that the American Dream is not dead—but that it is being threatened by a growing push toward industrial policy, economic restrictions, and government intervention.

Americans today enjoy unprecedented levels of prosperity, upward mobility, and opportunity. Rather than retreat from free-market principles, Michel makes the case for preserving the institutions and economic freedoms that have long fueled American success.

Join us for a thought-provoking conversation with the author, and the *Washington Post*’s Megan McArdle, as we explore the myths shaping today’s economic debates, the real story behind the rise of American prosperity, and the risks of moving away from market-driven solutions.

![Crushing Capitalism cover](/sites/cato.org/files/styles/promo_block_book_cover_1x/public/2024-10/crushing-caipitalism-cover.jpg?itok=JyaKbdKN) 

##### Featured Book 

### *[Crushing Capitalism](https://www.cato.org/books/crushing-capitalism)*

More government intervention and restrictions on economic freedoms will kill the American Dream, not save it. In *Crushing Capitalism*, Norbert J. Michel makes the case for maintaining perspective on how well Americans have done during the past few decades and nurturing the institutions that have enabled Americans to succeed.

[Purchase Book](https://www.cato.org/books/crushing-capitalism) 

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