On this episode of the Hayek Program Podcast, Peter Boettke interviews Patrick Newman on his latest book, Cronyism: Liberty versus Power in Early America, 1607–1849. As part of the conversation, Boettke and Newman discuss the perennial clash between the forces of liberty and power as part of the evolution of American cronyism. Additionally, Newman elaborates on his use of a Rothbardian framework to distinguish between liberty and power and offers his take on why, despite the cronyism, the US economy experienced such substantial economic growth.