Shows
Words & NumbersEpisode 391: Attacked by a Gang Wearing Lab CoatsThis week James shares some first-hand experience with the magic that comes out of modern health care. Foolishness of the Week: 10:22 Main episode: 12:43 Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com See More Ant and James! http://www.wordsandnumbers.org Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hits https://www.cybertruckownersclub.com/forum/threads/raccoon-damages-cybertruck-bed-vault-tonneau-cover.20349/ Foolishness of the Week https://www.dailydot.com/debug/nullbulge-hackers-leak-disney-slack-hack/ 2024-08-1143 min
Words & NumbersEpisode 375: Google and FedEx Anger JamesJames has an ax to grind. Google made him mad. FedEx made him mad. Many things make James mad. But this week, he tells us why. Foolishness of the Week: 16:22 Main episode: 20:01 Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com See More Ant and James! http://www.wordsandnumbers.org Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hits https://ottawacitizen.com/news/local-news/constance-bay-man-loses-bid-to-recover-cost-of-life-saving-u-s-brain-surgery/ https://www.beeculture.com/deregulating-honey-in-missourithere-are-19-ways-to-kill-a-bill-and-only-one-way-to-pass-it/ 2024-04-1740 min
Words & NumbersEpisode 374: The Price of BaseballJames recently wrote an article on the price of admission and food at baseball fields over the years. To look at the prices, it appears that baseball has shifted from entertainment for the working classes to entertainment for the middle and rich classes. Or perhaps we’ve simply all become richer and baseball has simply followed along. Foolishness of the Week: 13:07 Main episode: 16:09 Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com See More Ant and James! http://www.wordsandnumbers.org Show Your Support for Wo...2024-04-1032 min
Words & NumbersEpisode 351: The Snooty StuffComposer and musician Josh Nichols was annoyed when, on an earlier episode, James referred to “high culture,” and Ant said, “you mean the snooty stuff?” Being a classical composer and, importantly, making money at it, Josh joins us to set the record straight as to why we should all be more appreciative of “the snooty stuff.” Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com See More Ant and James! http://www.wordsandnumbers.org Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Topic...2023-11-0138 min
Words & NumbersEpisode 347: Workplace Harassment with Vince WhiteAttorney Vince White joins us this week. Vince’s law firm does more workplace harassment and sexual discrimination cases than any other US law firm. His firm also handled some of the Harvey Weinstein cases. Interestingly, Vince is James’ former student. Foolishness of the week: 05:30 Main episode: 08:39 Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com See More Ant and James! http://www.wordsandnumbers.org Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hits http...2023-10-0440 min
Words & NumbersEpisode 341: Strangers With CandyEconomist Art Carden joins us this week to talk about his popular book, Strangers With Candy. Foolishness of the week: 04:27 Main episode: 18:01 Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com See More Ant and James! http://www.wordsandnumbers.org Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hits https://fortune.com/2023/07/06/wealthy-leaving-china-education-school-sisb-stock-surge-singapore-thailand/ https://www.statista.com/statistics/372900/number-of-chinese-students-that-study-in-the-us/ https://www.fraserinstitute.org/economic-freedom/map?geozone=world&page=map&year=2020...2023-08-2333 min
Words & NumbersEpisode 340: Wrongfully ConvictedMichael Semanchik, Director of the Innocence Center, joins us to talk about freeing the wrongfully imprisoned, and reforming the criminal justice system to reduce the likelihood of wrongful convictions. Foolishness of the week: 06:13 Main episode: 07:09 Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com See More Ant and James! http://www.wordsandnumbers.org Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hits https://www.youtube.com/watch?v=sqSA-SY5Hro https://www...2023-08-1637 min
Words & NumbersEpisode 339: The Meanings of WordsThe point of communicating is to transfer thoughts from one person’s brain to another. In most forms of human communication, words are the tools we use. But if the two people don’t share common definitions of words, then communication becomes clouded. The most extreme case is when two people speak very different languages. But miscommunication often happens when both people speak the same language. If we hope to resolve, or at least come to peaceful disagreement, over topics from gun control to gender, we have to make a concerted effort to agree on definitions before debating the topi...2023-08-0935 min
Words & NumbersEpisode 337: The (Hollow) Sound of FreedomJames and I both went to see the recent box office hit, The Sound of Freedom. I liked it. James didn’t. But we both were appalled at what appear to be seriously distorted claims made in the film about human trafficking. Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com See More Ant and James! http://www.wordsandnumbers.org Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Topic of the Week Human trafficking defined https://www.state.gov/reports/2023-trafficking-in-persons-report/ Wo...2023-07-2638 min
Words & NumbersEpisode 336: A Fireside Chat Without the FireHowie Baetjer, Rob McDonald, James Stacey Taylor, and Clark Neily join us to talk about gun rights, canceling the Founders, and animal rights. Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com See More Ant and James! http://www.wordsandnumbers.org Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ More James at Smoke & Stories https://www.youtube.com/playlist?list=PLjILow4-ZJpBV-NnmSusZJ_vCuzKUJ4Ig More Ant...2023-07-1951 min
Words & NumbersEpisode 334: Live at Brookfield Academy, pt.2James and Ant field questions from students at Brookfield Academy on possible fixes for Social Security, the politics of taxation and spending, and how we’ve broken the separation of powers, Foolishness of the week: 06:41 Main episode: 03:53 Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com See More Ant and James! http://www.wordsandnumbers.org Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ More James at Smo...2023-07-0548 min
Words & NumbersEpisode 333: Live at Brookfield Academy, pt.1James and Ant field questions from students at Brookfield Academy on possible fixes for Social Security, the politics of taxation and spending, and how we’ve broken the separation of powers, Foolishness of the week: 06:41 Main episode: 08:18 Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com See More Ant and James! http://www.wordsandnumbers.org Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ More James at Smo...2023-06-2831 min
Words & NumbersEpisode 318: Nostalgia and Pop-CultureFoolishness of the week: 12:19 Main episode: 16:54 People’s view of the past is biased because we tend to forget the bad things. The (inexplicable to an economist) tendency of young people to think that like in the 1950s was better than life today is one example. This week, we talk about this tendency to nostalgia and how it shows up in pop-culture. Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com See More Ant and James! http://www.wordsandnumbers.org S...2023-03-1547 min
Words & NumbersEpisode 316: Slavery, Capitalism, and The 1619 Project, Pt. 1Foolishness of the week: 04:55 Main episode: 07:34 Economic historian Phil Magness joins us to talk about how the popular 1619 Project gets both the history and the relationship between slavery and capitalism wrong. This is the first of a two-part episode. Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com See More Ant and James! http://www.wordsandnumbers.org Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Apply for the Seminar on Classical Li...2023-03-0131 min
Words & NumbersEpisode 315: Are We Done With Inflation?Foolishness of the Week: 06:19 Main episode: 07:37 As recently as two months ago, many economists were concerned that significant inflation was here to stay. But last month’s data show that inflation is back near zero. Whether this is good news or simply a brief respite, we won’t know for another few months. Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com See More Ant and James! http://www.wordsandnumbers.org Show Your Support for Words & Numbers at Patreon https...2023-02-2244 min
Words & NumbersEpisode 314: What Happened to Trade?There is much evidence pointing to a relationship between increased trade and improved socio-economic factors like income, poverty, equality, and the environment. But there’s a disturbing trend afoot. World trade (measured as exports and imports as a fraction of world GDP) is down 5% since 2011, and US trade is down 20% over the same period. Worse, prior to 2011, US trade was on a solid upward trajectory for a couple of decades. From 2011 on, had US trade continued to grow at its historical rate, it would be 30% more today than it is. Get Your Copy of Cooperation and...2023-02-1530 min
Words & NumbersEpisode 308: The Pursuit of WealthPope Francis devoted his Christmas homily to speaking out about the evils of pursuing wealth. This week, James and Ant share their different takes on the topic. Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com See More Ant and James! http://www.wordsandnumbers.org Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Apply for the Seminar on Classical Liberalism: Theory and Practice https://www.wabash.edu/stephenson-institute/summer-seminars Quick Hits https...2023-01-0433 min
Words & NumbersEpisode 299: The Rights of the DeadDo the dead have rights? This Halloween, philosopher James Stacey Taylor joins us for a live (heh) recording of Words & Numbers to take this question seriously. Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com See More Ant and James! http://www.wordsandnumbers.org Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hits https://www.theguardian.com/us-news/2022/oct/11/new-york-gun-buyback-rules-3d-printed-parts https://studyfinds.org/americans-unsure-about-god-politics-white-evangelicals/ Foolishness of the W...2022-11-0240 min
Words & NumbersEpisode 297: What Happened to Poverty?This month, the world takes stock of international poverty, and James and Ant put poverty into perspective both across countries and across time. Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com See More Ant and James! http://www.wordsandnumbers.org Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hits https://slashdot.org/story/22/10/08/2234213/paypal-says-it-wont-fine-customers-2500-for-misinformation https://www.nbcnews.com/politics/2022-election/-check-walker-acknowledges-giving-700-ex-denies-claim-knew-was-abortio-rcna52252 Foolishness of the Week2022-10-1928 min
Words & NumbersEpisode 291: An Interview with Ant and JamesThis episode is an excerpt of an interview we gave with Dr. Anwar Dunbar for his YouTube channel, Big Discussions. Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com See More Ant and James! http://www.wordsandnumbers.org Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Carson Collins’ Award-Winning Video on the Minimum Wage https://www.viddler.com/v/5e4c1764 Quick Hits https://data.oecd.org/emp/hours-worked.htm...2022-09-0746 min
Words & NumbersEpisode 273: Markets With Limits, Pt. 2There are some things that people have an emotional reaction to buying and selling: sex, body parts, votes. There are other things whose quality people aren’t able to judge. Is it possible that markets shouldn’t or can’t handle these things? Philosopher James Stacey Taylor joins us to discuss his latest book, Markets With Limits. Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hits and Foolishness of the Wee...2022-05-0425 min
Words & NumbersEpisode 272: Markets With Limits, Pt. 1There are some things that people have an emotional reaction to buying and selling: sex, body parts, votes. There are other things whose quality people aren’t able to judge. Is it possible that markets shouldn’t or can’t handle these things? Philosopher James Stacey Taylor joins us to discuss his latest book, Markets With Limits. Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hits and Foolishness of the Wee...2022-04-2739 min
Words & NumbersEpisode 145: Morality and EconomicsJames and Antony record before a live audience at Truman State University, asking the question, “Is Capitalism moral?” Their answer wends its way through the definition of morality, whether morality requires a religious basis, whether markets beget or reflect morality, whether self-interest is immoral or a motivator that can be harnessed to encourage people to want to help each other. Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick hits Chicago library drops fines https://www.goodnewsnetwork.org/chicago-first-to-ditch-overdue-library-fees/ Ohio allows wrong answ...2019-11-2030 min
Words & NumbersEpisode 144: How Does Direct Access Primary Care Work?The US health care system is rife with many variables affecting the prices of and access to medical care. iHealth is a health care provider that does not take health insurance and is transparent about its prices. Is there a regulatory framework that allows for such a business to be successful? Would this model work for the rest of the country? What barriers are in place that prevent other physicians from doing business like iHealth? Join James Harrigan, Antony Davies, and their special guest Dr. Timothy Wong, the founder of iHealth, as they parse out the complexities behind the...2019-11-1338 min
Words & NumbersEpisode 143: The Difference Between Socialism and TransferismUsing a historical definition of the term, socialism designated a political system where the government owns the means of production. However, for many people, the word has evolved into something different. Do today’s young people believe in government ownership of property or redistribution of positive results? What has changed the traditional sense of socialism? Has the Supreme Court weighed in on any social programs? Join James Harrigan and Antony Davies as they ponder these questions and more on this week’s episode of Words & Numbers. Show your support for Words & Numbers at Patreon https...2019-11-0628 min
Words & NumbersEpisode 142: Are There Limits to Free Speech?Many attention-grabbing headlines talk about laws restricting speech. It seems some legislators don’t know the constitutionality of these proposed laws. What are the ramifications of passing laws such as these? Are these laws justified under some legal doctrines? What’s the rationale behind these propositions? Join Antony Davies and James Harrigan as they dig into these proposed laws and more on this week’s episode of Words & Numbers. Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick hits California blackouts https://www.cnbc.com/20...2019-10-3032 min
Words & NumbersEpisode 141: Who Are the Real Presidential Contenders? It’s debate season, and speculation about who will be the next president has already begun. Looming over the current president are constant calls for impeachment and reports on alleged wrongdoings which may diminish his chances for reelection. So, who are the best candidates and their running mates? Is impeachment a criminal or a political procedure? What kind of candidate are many Americans looking for? Join James Harrigan and Antony Davies as they offer their assessment of the next presidential election and more on this week’s episode of Words & Numbers. Quick hits: Diffe...2019-10-2332 min
Words & NumbersEpisode 140: What Can We Learn from Joker?Sean Malone, the creator of the Out of Frame video series and Director of Media at FEE, gives us his unique perspective on the film Joker. Do art and cinema have the power to hold a mirror up to society? Is that what makes people uncomfortable about Joker and movies like it? How do other cultures respond to graphic novels and films about superheroes? Join James Harrigan, Antony Davies, and special guest Sean Malone as they avoid spoilers and more on this week’s episode of Words & Numbers. Quick hits Pikes Peak Library District h...2019-10-1632 min
Words & NumbersEpisode 139: Happy Deficit Day!This year, October 3, 2019, is Deficit Day, the day the federal government’s income runs out. For a long time, the government has been spending more money than it collects in taxes. What effect will this have on the average American citizen? How much does the government pay in loan interest alone? Hasn’t the federal government had surpluses? Join James Harrigan and Antony Davies as they crunch the numbers and more on this week’s episode of Words & Numbers. Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick hits2019-10-0930 min
Words & NumbersEpisode 138: Vaping, Firearms, and the Leading Causes of Death in the USAs the saying goes, nothing can be certain except death and taxes. Thousands of people die every year from a remarkably wide variety of causes. What are the top five causes of death in the US? Are you more likely to be killed by a knife than a gun? What do diet and exercise have to do with death? Join Antony Davies and James Harrigan as they cover death by rare diseases, vaping, firearms and more in this week’s episode of Words & Numbers. Show your support for Words & Numbers at Patreon https://www.patreon.co...2019-10-0230 min
Words & NumbersEpisode 136: To Find Solutions, Follow the IncentivesTuition increases seem to indicate that colleges might have an incentive to admit students who may not succeed. Meanwhile, many professors are being required to add clear student outcomes to their syllabi. However, this still leaves many students hanging. Loans are difficult to pay back, and many other problems crop up in schools. How can we adjust incentives to help public universities perform better? Should some schools use their endowments to issue loans? What innovations could be implemented to improve education? Join James Harrigan and Antony Davies as they search for better solutions to the problems many students experience...2019-09-1832 min
Words & NumbersEpisode 135: The Reality of Legal ImmigrationImmigration policy in the United States is fraught with obstacles. Visas, green cards, and work permits all have complicated stipulations that must be followed. What does the process of legal immigration entail? What are the costs, monetary or otherwise? Is there an incentive to immigrate illegally? Join James Harrigan and Antony Davies as they discuss the astonishing personal experiences of two special guests on this week’s episode of Words & Numbers. Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick hits Workers are fleeing big cities...2019-09-1132 min
Words & NumbersEpisode 134: Benevolence Backfires: The Cobra EffectMany proposed solutions to society’s problems produce unintended consequences. Some laws passed in good faith, such as the Americans with Disabilities Act, have adverse effects on the very people they intend to help. How many laws like this are there? What do people do about them? How do businesses deal with such laws? Join James Harrigan and Antony Davies as they dive into the unforeseeable results of mixing good intentions with public policy and more on this week’s episode of Words & Numbers. Show your support for Words & Numbers at Patreon https://www.patreon.com...2019-09-0433 min
Words & NumbersEpisode 133: What’s Up With the National Debates?If you haven’t seen either of the previous Democratic primary debates, here’s a summary: Twenty candidates debate free health care and slavery reparations, among other things. Instead of talking about eliminating the federal debt, the candidates talk about adding to it. Additionally, the top candidates don’t get to debate the issues fully. All this raises a few questions: Who’s in charge of choosing the broadcast networks? The moderators? The questions asked? What effect do these choices have on the quality of the debates? Join Antony Davies and James Harrigan as they discuss the primary debates and more...2019-08-2844 min
Words & NumbersEpisode 132: Words & Numbers Listener Special #4Which historical figures do you respect? Which economic concepts should be taught to children? How do you trust statistics? James Harrigan and Antony Davies take questions from the crowd on topics ranging from incentives to trade-offs to research data to US treasury bills and more in this week’s episode of Words & Numbers. Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick hits Birth rates dropping https://www.dailymail.co.uk/news/article-7312075/Birth-rate-England-Wales-hits-80-YEAR-low.html Noam Chomsky https://truthout.or...2019-08-2127 min
Words & NumbersEpisode 131: Can Incentives Save the World?When it comes to wildlife conservation and other environmental concerns, the ideas of free markets and private property are frequently laughed off as silly by the planet’s most strident defenders. However, the incentives—the motivations to behave in a certain way—that come along with private property are strong. After all, we never worry about cows going extinct. But can these insights on property and incentives be extended to other aspects of our lives and our world? Special guest Howard Baetjer, author of Free Our Markets: A Citizen’s Guide to Essential Economics, joins Antony Davies and James Harrigan...2019-08-1433 min
Words & NumbersEpisode 130: Unschooling and Encouraging Self-Directed ChildrenFor many children, compulsory education and authority figures tend to inadvertently turn off their sense of curiosity and wonder about the world. Additionally, assigned districts can limit school choice for many parents and mandatory curricula can put unnecessary stress on educators. Are there solutions to these problems within the current framework? Is there any evidence to support changing the way we approach schooling to benefit children, parents, and teachers? Where did all these mandates originate? Join Antony Davies, James Harrigan, and special guest Kerry McDonald, author of Unschooled, as they discuss the public school system and more on this...2019-08-0732 min
Words & NumbersEpisode 129: When Do We Reach Adulthood?As we reach pivotal milestones, such as the legal driving age, we’re met with serious questions: Who decided I’m not old enough to vote? Why can I drive but not enter a bar? When do I have to buy health insurance? Am I ready for all this? Join James Harrigan and Antony Davies as they weigh the pros and cons of transitioning from a minor to an adult live from St. Edward’s University in Austin, Texas, on this week’s episode of Words & Numbers. Show your support for Words & Numbers at Patreon https://w...2019-07-3124 min
Words & NumbersEpisode 128: Are Corporations People?Citizens United, a conservative non-profit corporation, was once caught in the crosshairs of campaign finance law. The company violated the Bipartisan Campaign Reform Act by broadcasting a political film within 30 days of a primary election. The Supreme Court split 5-4 on the issue. Did the court side with the free speech of a corporation? What happens when there are two different visions of the First Amendment? Are corporations people? Join James Harrigan, Antony Davies, and special guest Trevor Burrus as they recount the courtroom drama of Citizens United vs. Federal Election Commission and more on this week’s episode of...2019-07-2436 min
Words & NumbersEpisode 127: What Is a Wealth of Data Worth?As people like, share, and upload on social media platforms, data is generated by users and gathered by tech companies. It’s a bit unclear, however, how companies handle user data. Is selling or storing user data a problem? Does the Fourth Amendment protect internet privacy? Should the government get involved?Join James Harrigan and Antony Davies—live from the University of Arizona!—as they discuss End User License Agreements, copyright law, data breaches, and more on this week’s episode of Words & Numbers. Show your support for Words & Numbers at Patreon https://www.patreon.com/word...2019-07-1723 min
Words & NumbersEpisode 126: Who Owns Outer Space?When it comes to the final frontier, we must inevitably outline the government’s role in interplanetary colonization. Perhaps during the next century, there will be deliberation between cosmic pioneers, space entrepreneurs, and elected officials. Who owns the resources on asteroids and other celestial bodies? What might a galactic congress look like? And what’s maritime law got to do with it? Join Antony Davies and James Harrigan as they mine that asteroid and more on this week’s episode of Words & Numbers. Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsa...2019-07-1025 min
Words & NumbersEpisode 125: Celebrating American IndependenceThis week’s guest, Robert McDonald, author of Confounding Father talks about the quintessential American philosopher: Thomas Jefferson. During the birth of America, innumerable obstacles stood in its way. What followed was the triumph of the first Americans, from a revolutionary war to purchasing Louisiana and everything in between. Join Antony Davies and James Harrigan for a cheerful, optimistic ode to the spirit of America on this week’s episode of Words & Numbers. Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick hits Disney heir calls for...2019-07-0339 min
Words & NumbersEpisode 124: Arguing Outcomes Instead of Principles Puts the Cart Before the HorseThere appears to be a large problem in America with outcome-based thinking, particularly with regards to hot-button political issues. We skip straight to the ending we want and argue for it until we’re blue in the face, and everyone who doesn’t want the same must be evil, stupid, or both. But what if we started the conversation in a different place? What if we started it at the principles that lead to the desired outcome? Would the conversation change? James Harrigan and Antony Davies dig into the subject during their second live recording from FEEcon 2019 on this week...2019-06-2631 min
Words & NumbersEpisode 123: What Does Equality Even Mean?The word “equality” is a tricky one. It means different things to different people in different contexts. Do we mean “income equality”? “Wealth equality”? “Equality before the law”? And how does that sync up with “fairness”? Why are so many fine with professional athletes and movie stars making hundreds of millions of dollars but not CEOs? Join Antony Davies and James Harrigan as they delve into the subject live from FEEcon 2019 on this week’s episode of Words & Numbers. Show your support for Words & Numbers at Patreon: https://www.patreon.com/wordsandnumbers Quick hits: Tul...2019-06-1924 min
Words & NumbersEpisode 122: Changing the Rules for Social SecurityAs the saying goes, if you want less of something, tax it. Recently, a House bill was proposed that would raise the taxable income cap for Social Security to about $400,000. Although there seem to be many reasons to cheer, would this create unintended consequences? What could be done instead? Is privatization the way to go? Join James Harrigan and Antony Davies this week as they suggest an elegant solution to a sticky situation on this week’s episode of Words & Numbers. Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers ...2019-06-1230 min
Words & NumbersEpisode 121: Are Hot Button Issues Actually Important?If life is an inalienable right, does that take the death penalty off the table? Is there really a need for social safety nets? Taxation, the Articles of Confederation, the Postal Service, and more come together this week as James Harrigan and Antony Davies explore their ambivalence (it doesn’t mean what you might think it does) on many controversial topics on this week’s episode of Words & Numbers. Come to FEEcon 2019! Show Notes: Arthur Laffer awarded Medal of Freedom The top half of income earners pay 97% of the federal taxes 2019-06-0531 min
Words & NumbersEpisode 120: What Is Impeachment and How Does It Work?Only twice has the U.S. House of Representatives impeached a president, and never has the Senate voted to remove an impeached president from office. People tend to think of impeachment as a judicial tool that should be used rarely and only when a president has broken the law in some egregious way. But impeachment was designed as part of the checks-and-balances. It is a political tool. On this week’s episode of Words & Numbers, join Antony Davies and James Harrigan as they discuss what impeachment is and how the political process might work better if impeachment were used mo...2019-05-2928 min
Words & NumbersEpisode 119: Words & Numbers Listener Special #3If the federal government disappeared, would there still be a United States? Does every country fall on a spectrum between two extremes, capitalism and communism? Are there any good reasons to restrict voting rights? This week, James Harrigan and Antony Davies answer questions about the subjective theory of value, debts to society, guns vs. butter, and plenty more in this week’s jam-packed episode of Words & Numbers. Come to FEEcon 2019! Foolishness of the week Pennsylvania Mayors Pew Poll on Views About Gun Regulation Topic of the week: Listener qu...2019-05-2232 min
Words & NumbersEpisode 118: Household Debt: The Good, the Bad, and the PoliticizedAmericans, as individuals, carry a lot of debt. But don’t panic! Not all debt is created equal, and not all debt is necessarily a bad thing. Some debt—like mortgages, vehicles, even some college degrees—can be good debt. There are also bad kinds of debt, too. But the thing about individual debt is that it’s the individual's responsibility and really only the business of the borrower and the lender. Once the government gets involved, though, things can get messy. Just how messy and in what ways? Join Antony Davies and James Harrigan as they sort through the bill...2019-05-1529 min
Words & NumbersEpisode 117: What’s Your Fair Share?Lately, headlines seem to focus on big companies that pay no corporate taxes. However, most of those big companies are still paying payroll taxes. So, have these big companies actually paid their fair share? Americans have their own tax burdens as well. How do we measure a fair tax for all incomes? How do people define what “fair” means? Join James Harrigan and Antony Davies as they cover progressive/regressive taxes, sales taxes, sin taxes, and more on this week’s episode of Words & Numbers. Come to FEEcon 2019! Show Notes: New York may ban gl...2019-05-0828 min
Words & NumbersEpisode 116: What Happens When We Make College “Free”?There’s no such thing as a free lunch or, in this case, a free college education, despite the promises of certain presidential candidates. The federal government already guarantees student loans. But what would happen if we just forgave all that student debt? What would it take, politically speaking, and what would it cost? And what’s the value of a college education these days, anyway? Join Antony Davies and James Harrigan as they tackle the topic on this week’s episode of Words & Numbers. Win tickets to FEEcon 2019! Quick hits Chalk on tires...2019-05-0127 min
Words & NumbersEpisode 115: The Campus Witch TrialsMany college students seem baffled or even outraged by opinions that differ from their own. We hear phrases like safe spaces, trigger warnings, and virtue signaling. What’s going on? Has the same psychology that caused religious persecutions returned? Has it infected the majority of students and faculty across the country, or just a vocal few? Guest Donald Boudreaux joins hosts James Harrigan and Antony Davies to sift through the loudest arguments coming from our nation’s universities in this week’s episode of Words & Numbers. Win tickets to FEEcon 2019! Show Notes: Nucle...2019-04-2431 min
Words & NumbersEpisode 114: Is It Ok to Pay People for Their Blood Plasma?Getting paid for your blood—do you have any concerns? Many people are opposed to donors receiving compensation for ethical reasons. Should people only donate blood for altruistic reasons? Should we worry about exploitation? How much of America’s total exports are blood products? Join Antony Davies, James Harrigan, and their guest Peter Jaworski, co-author of the book Markets Without Limits, as they discuss the morality underlying the supply and demand of blood plasma around the world. Win tickets to FEEcon 2019! Show Notes: Deficit up 15% in 2019 Deficit up 17% in 2018 Tour...2019-04-1733 min
Words & NumbersEpisode 113: The Origins of the Social Contract, Part 2Wage gap myths, middle class success, and hate crime statistics are examined this week in order to dispel the calls for a new social contract. In a society where the majority makes the rules, how do minorities prosper? Is it because of a social contract, is it the result of people being rational, or is it just people being nice to each other? Listen to the conclusion of this two-part special as James Harrigan and Antony Davies use data to trace the prosperity of minority groups in America on this week’s episode of Words & Numbers. Win ti...2019-04-1024 min
Words & NumbersEpisode 112: The Origins of the Social Contract, Part 1Have you ever signed a contract without reading the terms and conditions? According to Elizabeth Warren, part of the “social contract” is to pay your fair share. But wait, what is the “social contract” that politicians and talking heads keep bringing up? Is it the consent of the governed? Is it written down? Did anyone actually agree to it? Enjoy the first part of a two-part special as Antony Davies and James Harrigan dig up the historical origins of the social contract. Quick hits Tversky & Kahneman, Rational Choice and the Framing of Decisions Robots i...2019-04-0330 min
Words & NumbersEpisode 111: Game of Votes: Electoral vs. Popular 538 Electors. 270 votes. Winner-takes-all! Well, at least for now. Colorado recently became the twelfth state to join an effort to award the presidency to the candidate who wins the most individual votes. But should the popular vote replace the Electoral College? Originally intended as a safeguard for the separation of powers, has this election method failed Americans? Population vs. Geography. Urban vs. Rural. Democrats vs. Republicans; it’s a conversation that usually gets people all lathered up on both sides of the issue. Join James Harrigan and Antony Davies as they inform us about the reasoning behind the Ele...2019-03-2728 min
Words & NumbersEpisode 110: Is Facebook a Monopoly?The dominating online presence of Facebook, Google, and Amazon has often been called monopolistic. Government-enforced monopolies, such as Western Union and Ma Bell, have fallen before, but is Big Tech anything like those old companies? Presidential candidate Elizabeth Warren has even started a petition calling for the breakup of big tech companies, which may include Apple among others. How would the digital world look if she succeeds? Should politicians get to decide whether Facebook meets the same fate as MySpace or should the consumer? Join us this week as James Harrigan and Antony Davies thwart the misconceptions about monopolies...2019-03-2027 min
Words & NumbersEpisode 109: Are You In the Global 1%? Live from Scottsdale, Arizona! James Harrigan and Antony Davies contend that the median income in the US puts Americans in the top 1 percent in the world. What does that mean? Only that these people can afford stuff that, roughly a century ago, had been considered luxuries: air conditioning, running hot and cold water, ovens, refrigerators, stainless steel, and even sweet potatoes. The standard of living for even minimum wage earners today has remarkably improved in spite of burdensome regulations, but can this trend continue? Join us this week as our hosts suss out the reasons for the i...2019-03-1327 min
Words & NumbersEpisode 108: Where Are They Now? The Disappearance of Mutual Aid Societies.This week’s guest, David Beito, professor of History at the University of Alabama, discusses the functions, benefits, and undoing of mutual aid societies. These private safety nets, like tontine funds and Masons, once widely provided services such as health and unemployment insurances, hospitals, housing for the elderly, and care for orphans. So what happened? Did beneficiaries dry up these funds? Did scandals, state bans, and the Great Depression lead to the disappearance of benefit societies? Are they still around? Join James Harrigan, Antony Davies, and professor Beito as they answer these questions and more on Words & Numbers. ...2019-03-0627 min
Words & NumbersEpisode 107: Modern Monetary Theory The Government as Referee, Player, and ScorekeeperThis week, economist and theorist Warren Mosler joins James and Antony to explain the details of Modern Monetary Theory (MMT). With 40 years of experience in finance and monetary operations, Mosler is a leading expert on MMT, is a co-founder of AVM—a brokerage, trading, and administrative services firm—and lectures on monetary economics around the world. He covers the important ramifications stemming from the adoption of MMT and how coercive shifts of resources benefit public infrastructure, and responds to criticisms of MMT. With supporters in Washington such as Alexandria Ocasio-Cortez and Bernie Sanders, MMT is quickly gaining a strong foll...2019-02-2731 min
Words & NumbersEpisode 106: Can Anti-Discrimination Laws Get Us Closer to a Meritocracy?Discrimination happens every single day. Every human, in some way, makes a judgment about other humans and uses that judgment to discriminate, whether that be who they date, who they do business with, and, yes, who they hire and fire. Most discrimination is fine—necessary, even. But sometimes it crosses a line. Where is that line? How does it affect people’s careers? When is litigation the right option? Antony Davies and James Harrigan with special guest Vince White as they discuss this and more on Words & Numbers. Show Notes: Online dating is changing society 2019-02-2028 min
Words & NumbersEpisode 105: The “Problem” with BillionairesThe Outrage Engine that is social media and op-eds has set its sights on a new target: billionaires. Apparently, being a billionaire is a bad, bad thing. Billionaires should sit down, shut up, and meekly wait until we confiscate their wealth. For certain people of certain political beliefs, this sounds like a great idea. Because, after all, nobody needs that much money. But is it really that simple? Can we really just steal billionaires’ money and nothing bad happens? Join James Harrigan and Antony Davies as they breakdown this and more on Words and Numbers. Quick hits...2019-02-1327 min
Words & NumbersEpisode 104: “You Just Hate the Poor!” and Other Minimum Wage Misunderstandings Fun fact: the profit margin for most businesses is about 8 percent. When you’re talking about categories like restaurants and retail stores, that margin drops to around 2 percent. Yet, some people still seem to believe that all companies are perfectly capable of simply absorbing dramatic increases in their operating costs—namely, labor—with no changes in behavior by these companies. Artificially inflating labor costs, as in the form of minimum wage increases, will not lead to decreased hours, lay-offs, deferred hiring, decreases in benefits, or increased prices for consumers because… reasons. And if you voice disagreement with any of th...2019-02-0630 min
Words & NumbersEpisode 103: What Does “Necessary and Proper” Actually Mean?Though the United States, as a constitutional republic, is considered to be a “limited government,” it often doesn’t feel that way. Washington keeps churning out law after law regarding what the state may do and what the individual may not. The fault for this is often laid at the feet of the Founders for including the “Necessary and Proper Clause” in Article 1, Section 8 of the Constitution. But is that blame just? Or have politicians through the years simply used it as an excuse to do what they wanted, regardless of what the Constitution says? Join James Harrigan and Antony Dav...2019-01-3030 min
Words & NumbersEpisode 102: “Diversity” Doesn’t Mean What You Think It MeansThe word “diversity” has become a sticky one. In the last fifteen years, a genuine “diversity industry” has sprung up, particularly at colleges and universities in the United States. Higher education institutions across the country have entire departments with dozens of full-time, highly-paid staff members dedicated to the concept. But to what effect? And exactly what kinds of “diversity” are we talking about? Special guest (and regular FEE contributing author) Mark J. Perry joins Antony Davies and James Harrigan to drill down into this and more on this week’s episode of Words and Numbers. Quick hits Oregon...2019-01-2332 min
Words & NumbersEpisode 100: The Good Old Days Weren’t All That GoodPeople like to talk about the “good old days” where everything used to be so much better than it is today. Everybody feels nostalgic on occasion, and it’s perfectly normal to misremember the past, but were the good old days really all that great? Join Antony Davies and James Harrigan as they compare then and now on the 100th episode of Words and Numbers. Quick Hits:Cat parasiteElizabeth Warren Foolishness of the Week: NY Times crossword Topic of the week: Comparing Life Today to Life 100 Years Ago See...2019-01-0935 min
Words & NumbersEpisode 99: Buying Kidneys with an Ethics ProfessorHappy 2019, everyone! On our first episode of Words & Numbers in the new year, professor James Stacey Taylor joins Antony and James this week to discuss the ethical implications of creating markets for human organs. According to Prof. Taylor, nearly 18 people a day die from a shortage of kidney donors. Economists have argued for decades that these kinds of markets could save lives by creating better incentives for people to donate their organs to people in dire need, but critics say that it would encourage poorer people to put their health at risk for money. 2019-01-0236 min
Words & NumbersEpisode 98: Trump, Adams, and SeditionWithin less than a decade of ratification of the Bill of Rights, President John Adams signed the Sedition Act, which blatantly violated the First Amendment’s protections of freedom of speech and freedom of the press. Since that time, the Supreme Court has repeatedly taken a firm stand in defense of the First Amendment against government encroachment. Yet, within the past couple of years, we’ve heard Congressional Democrats and now a Republican President call for restrictions of both the press and speech that is critical of the government. The freedom to criticize government is the last tool available to p...2018-12-2631 min
Words & NumbersEpisode 97: Americans Are Remarkably CharitableAmericans have the distinct reputation of being incredibly selfish. All things considered, it’s not exactly unearned. That said, every year, Americans also quietly give a rather astonishingly large amount of money to charities, particularly during the holiday season. Over $400 billion, in fact, 75 percent of which was for those less fortunate. And that’s simply the cash and goods. Beyond that, 60 million Americans each donated an average of 120 hours of their time to charities. This is, incidentally, more than the federal government spends on all of its welfare programs combined. What does this actually mean? Join James Harrigan and Anto...2018-12-1926 min
Words & NumbersEpisode 96: What Is Money, Anyway?Money is one of those things that is so ubiquitous, so completely taken for granted, that we rarely stop to think about what it actually is. The colored bits of paper that we call dollars don’t have any particular worth on their own, yet we use them as though they do. John Locke, in 1689 when he wrote his Second Treatise of Government, touched on it, hinting at the three qualities money possesses. But what are those three things? What happens when one or more of those three attributes is abandoned? And how does the government fit into all of...2018-12-1233 min
Words & NumbersEpisode 95: Why No One Can “Steal” a JobWe hear a lot about jobs, these days. We have monthly government jobs reports. Our politicians talk about job creation. Some people fear others will “take our jobs!” But what is a job? Is it the prize of some sort of economic vending machine where you have a few inputs, press a few buttons, and out comes a shiny new job? Is it an empty space at a company that needs to be filled? Or is it something else altogether? Join Antony Davies and James Harrigan as they talk about this and more on this week’s episode of Words...2018-12-0533 min
Words & NumbersEpisode 94: Facebook Is Awful, but What’s the Alternative?It’s no secret that social media is in a bit of a shambles. The big players like Facebook, Twitter, and YouTube are purging accounts, censoring content, and mining data. Many users are very unhappy with them. But what alternatives do we have? Maybe more than you think. Join James Harrigan and Antony Davies along with Minds.com founder Bill Ottman as they talk about social media alternatives and more on this week’s episode of Words and Numbers. Show Notes: Small business Saturday Dimming the sun We’re all related ...2018-11-2839 min
Words & NumbersEpisode 93: Focus on the Principles, Not the OutcomesThere was once a time when politicians were civil to each other. Neighbors and friends who disagreed politically remained neighborly and friendly to each other. Opponents were graceful in defeat and generous in victory. But somewhere along the line, we lost that. These days, it seems that all there is is vitriol and hate. That is what happens when an electorate focuses solely on the outcomes that they want instead of the principles they believe in. What are these principles and why do they matter? Join Antony Davies and James Harrigan as they discuss this and more on this...2018-11-2132 min
Words & NumbersEpisode 92: America Is Not a DemocracyIn the wake of the midterm elections, there’s been a lot of talk about democracy and how it works. Many—largely on the left—are confused and angry because, despite garnering the higher number of votes, Democrats failed to take a majority of seats in the Senate. This demonstrates a basic misunderstanding about American government, the electoral process, and how they work. Join Antony Davies and James Harrigan as they break it down for us on this week’s episode of Words and Numbers. Show Notes: Pittsburgh shooting Smoking rate hits a low...2018-11-1433 min
Words & NumbersEpisode 91: It’s Not the Government’s Job to Provide Goods and Services“It’s the most important election in history.” That’s the rhetoric you see plastered across the news and social media. Perhaps, people view this election as such because they believe it to be the government’s job to provide things for them. This is apparent on both sides of the aisle. Democrats want free health care and education. Republicans want a border wall and tariffs on imported goods. But, is it the government’s job to provide services that Democrats want? Is the government a tool of protection for American businesses that Republicans view it as? Join hosts Antony Davie...2018-11-0733 min
Words & NumbersEpisode 91: It’s Not the Government’s Job to Provide Goods and Services“It’s the most important election in history.” That’s the rhetoric you see plastered across the news and social media. Perhaps, people view this election as such because they believe it to be the government’s job to provide things for them. This is apparent on both sides of the aisle. Democrats want free health care and education. Republicans want a border wall and tariffs on imported goods. But, is it the government’s job to provide services that Democrats want? Is the government a tool of protection for American businesses that Republicans view it as? Join hosts Antony Davie...2018-11-0733 min
Words & NumbersEpisode 90: What’s So Creative about Destruction?Economists use the term “creative destruction” a fair amount, but what does it actually mean? It generally refers to a company going out of business, or sometimes whole sectors of the economy vanishing as disruptive technologies and strategies come into play. It is very easy to see the “destruction” part of creative destruction. We see the empty storefronts and people out of work because the businesses they worked for couldn’t afford to pay them anymore. We point fingers and lament the loss of these former favorites. So where does the “creation” part of all this come in? Join Antony Davies...2018-10-3135 min
Words & NumbersEpisode 89: A Raging Dumpster Fire of InjusticeCanada recently legalized the possession and use of marijuana and proposed legislation to pardon those previously convicted of such “crimes.” So, it’s as good a time as any to take a look at how such things are handled in the United States. While, yes, in the majority of states, there is some provision for certain kinds of legal use of marijuana—including full legalization in a few—the fact remains that the plant itself remains completely illegal at the federal level. In aggregate, across the United States, the clearance rate—that is, of criminal cases being considered solved—for violent cr...2018-10-2432 min
Words & NumbersEpisode 88: When Is This Year’s “Deficit Day”?Imagine, if you will, that the United States federal government somehow received all of the money it normally would for the entire year on January 1st. The day it would have spent it all and started deficit spending (that is, spending money it simply doesn’t have) could be dubbed “Deficit Day.” This year, 2018, that day falls on October 19th. From this day until the end of the year, the US Federal Government is spending money it doesn’t have to the tune of about $11 billion per day. So what does that mean for the government? What does that mean for...2018-10-1730 min
Words & NumbersEpisode 87: Why Do We Even Have Trade Agreements, Anyway?When it comes to free trade agreements, ideally they should be very short. Four words would suffice: “Trade will be free.” But politicians being what they are, what we (that is to say, Mexico, Canada, and the United States) actually have to replace NAFTA is a 1,800-page tome called the USMCA. Hundreds of pages of caveats doesn’t sound very much like free trade. That said, this trade agreement, like all trade agreements, rests on the the myth that it is countries that trade with each other. Countries are aggregates; they can’t actually do anything. It is individuals who trad...2018-10-1031 min
Words & NumbersEpisode 86: Words and Numbers Listener Special #2In this episode, we’re answering listener questions. What’s going on with this scary, dystopian Chinese social credit system? What government agency would you get rid of? What happens when religious leaders (allowed to freely exercise their faith as enshrined in the First Amendment) don’t allow their followers the right of free speech (also enshrined in the First Amendment)? Join Antony Davies and James Harrigan as they answer these listener questions and more on this week’s second Listener Special episode of Words and Numbers. Show Notes: Foolishness of the Week Texas le...2018-10-0334 min
Words & NumbersEpisode 85: Are We Living Madison’s Nightmare?Worries about mob rule have been around longer than our Constitution. Indeed, James Madison wrote about the problems of “factions” in what we’ve come to call the Federalist Papers. We like to think that our three branches of government with their checks and balances are impervious to the evils of faction. But today we may be living Madison’s nightmare. Join Antony Davies and James Harrigan as they discuss this and more on this week’s episode of Words and Numbers. Show Notes Controlling aging Jeff Bezos donates $2 billion What it feels l...2018-09-2632 min
Words & NumbersEpisode 84: Price-Gouging Bans Don’t Make Things Cheaper, They Make Them More ScarceImposing “price gouging” bans after a natural disaster doesn’t actually help anybody. On paper, it looks ideal. Shoppers who don’t have funds and didn’t prepare for the storm can still afford to buy everything, even if it’s completely last-minute and a bit of a race to the finish line. But the reality is that price-gouging laws don’t make things better, nor do they make things fairer. In the face of a category 1 hurricane like Florence, they just create more scarcity and destroy incentives to keep the supply chain moving. In the end, it doesn’t matter how low...2018-09-1926 min
Words & NumbersEpisode 83: How the Meanings of "Liberal" and "Conservative" Have ChangedConservative and liberal: probably the two most commonly used words to describe a person’s political affiliations. And, of course, we all know that Republicans are all conservatives and Democrats are all liberals, and this is the way it’s always been. Right? Well, no, not really. The way that we’ve come to understand these terms currently has drifted pretty far afield of the way these words have been used previously. Join James Harrigan and Antony Davies as they get super-semantic about political labels and more on this week’s episode of Words and Numbers. Show Notes:2018-09-1129 min
Words & NumbersEpisode 82: Capitalism Doesn't Mean What You Think It MeansThe word “capitalism” has become incredibly loaded over the years. And since the term was actually popularized by Karl Marx to be the foil for his own ideology, that’s fairly understandable. It brings to mind all of the very worst aspects embodied by the elite, greedy, rent-seeking Gordon Geckos of the world, hoarding their capital resources like dragons on a pile of gold and profiting from the hard work of laborers while doing nothing productive themselves. This characterization, while incredibly common, is simply incorrect. Join Antony Davies and James Harrigan as they discuss the actual meaning of capitalism and mo...2018-09-0526 min
Words & NumbersEpisode 81: Despite Its Rebranding, Socialism Is Still HorrificWe’re experiencing the rise of a new kind of socialist. The original definition of socialism—state ownership of the means of production—is beginning to fall by the wayside. What self-proclaimed socialists are asking for now is for the state to control the means of production. While this might seem like a pedantic distinction, it’s an important one. But the rebranding of socialism by democratic socialists like Bernie Sanders and Alexandria Ocasio-Cortez still fails to take into account the most important aspect of sound economics: human behavior. Join James Harrigan and Antony Davies as they drill down into the...2018-08-2929 min
Words & NumbersEpisode 80: You Can’t Make College FreeEverybody vaguely familiar with basic economic concepts knows that there’s no such thing as a free lunch. It’s a great phrase and speaks to the principles of both opportunity cost and scarcity. That said, a “free lunch” refers to more than your afternoon repast. Everything costs something. And if you end up paying zero dollars for it, that only means it was paid for by someone else. This holds true for college tuition. It may cost a student zero dollars, and that student will certainly benefit from not having to pay for higher education herself, but what’s really b...2018-08-2229 min
Words & NumbersEpisode 79: How Not to Be Terrible at CollegeJames and Ant have a lot of experience with both high school and college students. Most of the time, they’re extremely impressed with the high school students that they encounter. But something seems to be happening in the summer between high school graduation and beginning their first semester of college. Something… not ideal. And to a point, it’s perfectly natural. Young people are interested in exploring their newfound freedom, and that includes the amount of attention that they pay to their studies. Because of this, a great many otherwise intelligent students find themselves struggling with college. So, if you...2018-08-1534 min
Words & NumbersEpisode 78: Is a College Degree Worth the Cost?As the back-to-school season gets into full swing, hundreds of thousands of young people are heading back to class at their chosen college or university. On average, the simple dollar cost of tuition and fees for a four-year degree is about a quarter of a million dollars. A large majority of students will have to take on some kind student loan debt to cover these costs. But we've been told our whole lives that in order to have a good job and successful career, a college degree is both necessary and an automatic golden ticket, so it has to...2018-08-0831 min
Words & NumbersEpisode 77: 'There Ought to Be a Law’: What that Phrase Actually MeansPeople tend to have a strange blind spot when it comes to government. We—or a lot of us, at least—tend to assume the best of intentions from our government. Our fellow civilians garner suspicion, but our elected officials are somehow magically benevolent and altruistic. When governments misbehave and act violently, we tend to think about these actions in terms of warfare. And yes, in the 20th century alone, wars have killed around 106 million people. That's a lot and not to be discounted. But in the same timeframe, governments have killed at least that many—and probably more like t...2018-08-0127 min
Words & NumbersEpisode 50: Intentions Don't Matter — Outcomes DoSocialism is, whether we like it or not, in the national dialogue. And there are numerous people who claim to be socialists who, nevertheless, have a hard time defining what socialism actually is. Socialism, in it's purest form, indeed, has never been tried. But, by the same token, neither has undiluted capitalism. To understand which works better, we have to think about means and ends. Almost all of us want the same ends, but we disagree sharply as to the appropriate means. So how do we find the most efficient, most humane means? Join Antony Davies and James Harrigan...2018-01-2426 min
Words & NumbersEpisode 50: Intentions Don't Matter — Outcomes DoSocialism is, whether we like it or not, in the national dialogue. And there are numerous people who claim to be socialists who, nevertheless, have a hard time defining what socialism actually is. Socialism, in it's purest form, indeed, has never been tried. But, by the same token, neither has undiluted capitalism. To understand which works better, we have to think about means and ends. Almost all of us want the same ends, but we disagree sharply as to the appropriate means. So how do we find the most efficient, most humane means? Join Antony Davies and James Harrigan...2018-01-2426 min
Words & NumbersEpisode 24: Is Income Inequality Real?Income inequality has been in the news more and more, and it doesn’t look good. It’s aggravating to see people making more money than you, and we’re told all the time that income inequality is on the rise. But is it? And even if it is, is it actually a bad thing? This week on Words and Numbers, Antony Davies and James R. Harrigantalk about how income inequality plays out in the real world. Learn More: https://fee.org/articles/is-income-inequality-real/ 2017-07-2616 min
Words & NumbersEpisode 23: The Illinois Budget is a MessThis week on Words & Numbers, Antony Davies and James R. Harrigan tackle the disaster that is the Illinois state budget crisis. Pro-tip: Don't let it happen to your state.2017-07-1913 min
Words & NumbersEpisode 21: Let Amazon Play MonopolyAmazon’s offer to buy Whole Foods for $13.7 billion sounds pretty great to both parties, but it seems that isn’t good enough. The proposal has a lot of people worried about Amazon becoming an indestructible monopoly, and the government is all too happy to step in and settle the issue. But this concern ignores consumers’ own preferences as well as business and entrepreneurial history. This week in Words and Numbers, Antony Davies and James R. Harrigan discuss the probable future of the Amazon-Whole Foods merger, what it could mean for us, and what it could mean for another once-e...2017-07-0515 min
Words & NumbersEpisode 19: The Population Boom Could Save the WorldIn 1798, 95 percent of the world lived in poverty. Today, less than 10 percent do, in spite of the world’s population growing by 700 percent in that same time. The common thought among young people is that this 700 percent population growth is going to overpopulate the earth. But given the number of people in poverty, it looks like population growth is actually good for poverty – more people means more brains, which means more ideas, inventions, and innovations. This week on Words and Numbers, Antony Davies and James R. Harrigan talk about how and why the world is impr...2017-06-2113 min
Words & NumbersEpisode 18: What You Should Know About Poverty in AmericaPoverty is a big deal – it affects about 41 million people in the United States every year – yet the federal government spends a huge amount of money to end poverty. So much of the government’s welfare spending gets eaten up by bureaucracy, conflicting programs, and politicians presuming they know how people should spend their own money. Obviously, this isn’t working. This week on Words and Numbers, Antony Davies and James R. Harrigan delve into how people can really become less poor and what that means for society and the government. Learn More: https...2017-06-1414 min
Words & NumbersEpisode 17: Earning Profits is Your Social ResponsibilityWe tend to demonize people who make money – how dare they have more than us? But that negative reaction forgets the voluntary role we play in profit-making every day. This week in Words and Numbers, Antony Davies and James R. Harrigan discuss just how good it is to earn a profit, and the vital difference between that and forcing money from people.2017-06-0713 min
Words & NumbersEpisode 16: Is Your College Degree Worthless?A lot of people assume that any degree increases your income over the course of your life, but it actually seriously depends on what major you choose and what career you go into. This week on Words & Numbers, Antony Davies and James R. Harrigan breakdown the numbers on what your college degree is actually worth.2017-05-3113 min
Words & NumbersEpisode 1: The Customer is Always TaxedWe're really excited to present the first episode of what will be an on-going podcast featuring Dr. Antony Davies, Professor of Economics of Duquesne University in Pittsburgh, and Dr. James R. Harrigan, CEO of FreedomTrust Each Wednesday we'll be sharing a new podcast featuring Antony and James talking about the economics and political science of current events. We hope you enjoy the show and look forward to your input on what topics Antony and James should cover in the future. Today's episode is about everybody's favorite subject: Taxes!2017-02-1506 min