The History Podcast23 Apr 2025

Invisible Hands: 5. The Lucky Gambler

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 he predicted a stock market crash and disappeared from the world stage.

A few years later he turned up again, ready to tell the world something shocking. That everything he had believed about the free market was wrong. That a global elite had rigged the system and global capitalism was now stifling the very freedoms it promised to protect. That global free trade had led to a hollowing out of manufacturing towns and communities. That the nation state itself was being undermined.

Then in 1997 he saw there was an election coming up in Britain. An election where he could spread his message that globalisation and global free trade had failed. An election that perhaps, more than any other, set the stage for Donald Trump.

David Dimbleby traces the history of an idea that charts his lifespan. 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.

But who are the little-known people behind it? What did they want? And is the free market here to stay? Or are we entering a new era?

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

A Samizdat Audio production for BBC Radio 4

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