Shows
The Marginal Revolution PodcastThe Return of Tariffs - Unpacking incidence, retaliation, and the return of protectionismIn this episode, Alex and Tyler tackle the resurgence of tariffs in American policy, a development neither saw coming after decades of trade liberalization. They unpack the economics of who really pays when tariffs jump from 2.4% to 18% in a matter of weeks, exploring everything from tax incidence and exchange rate adjustments to the question of why we treat tariffs so differently from currency depreciation. Along the way, they debate Tyler's new "soft" arguments against tariffs (including contagion effects and rising correlations), examine whether Lerner symmetry still holds in a world of T-bills and exorbitant privilege, and consider the Trumpian...
2025-11-1853 minThe Marginal Revolution PodcastCompensating Differentials and Selective IncentivesWhy do butchers earn more than bakers even though they're typically less educated? What does Uber driver data reveal about wage gaps? In part three of their series on favorite models, Tyler and Alex explore compensating differentials, Adam Smith's insight that wages adjust for a job's pleasantness, safety, and flexibility. But Tyler pushes back: in a world of increasing returns and clustering talent, are we moving toward winner-take-all dynamics where all good things come together instead of trading off? Then they turn to Mancur Olson's theory of selective incentives. How do small groups organize to lobby for...
2025-11-0452 minThe Marginal Revolution PodcastThe Baumol EffectWhy are college tuition, healthcare, and car repairs eating up bigger shares of our budgets? Alex says it's all about the Baumol effect, a deep economic insight about relative prices that explains why labor-intensive services inevitably become more expensive over time. Tyler isn't buying it. He thinks the Baumol effect is often invoked as an ex-post explanation but can't make predictions. Further, there's not enough Kelvin Lancaster in Baumol, Tyler argues—not enough attention to bundle of characteristics that define what a good really is. In this episode, Alex and Tyler debate whether the Baumol effect is pr...
2025-10-2151 minThe Marginal Revolution PodcastFavorite Models: Spence on Monopolies, Harberger on Incidence, Solow on GrowthAlex and Tyler put three classic models through their paces. Alex starts with Spence on how a monopolist chooses quality and applies it to how the New York Times' paywall flipped its audience incentives. Tyler pushes back, arguing that network effects and loyalists matter more than marginal customers. They move to Harberger on tax incidence and the hidden winners and losers of corporate taxes, minimum wages, and congestion pricing. Finally, Solow's growth model frames a conversation on why some countries catch up and others stall, including what it gets right about China, and what it misses. Together, their debate...
2025-10-0755 minThe Marginal Revolution PodcastIn Praise of Commercial CultureTyler and Alex revisit Tyler's 1998 book and trace how commerce disciplines and amplifies creativity. Great artists bargained hard because money buys orchestras and time. "Inspired consumption" means high-quality audiences shape better art. Dynamic, Hayekian competition discovers new genres, while pulp cross-subsidizes the sublime. They disentangle when government support works, why TV improved with entry and subscriptions, how "payola" rhymes with supermarket slotting fees and with Spotify's algorithmic era, and why some modern art maligned as minimal is, in fact, marvelous. Along the way they touch on reading's spiky renaissance, textiles as the smartest undervalued collectible, the real story on b...
2025-09-231h 03
Ideas of IndiaChristopher Coyne on War, Conflict, and the Quest for a Stable PeaceToday my guest is Christopher J Coyne, who is a Professor of Economics at George Mason University, the Associate Director of the F.A. Hayek Program at the Mercatus Center. We talked about the economics of conflict and peace, history of the US security state, the US intervention in Afghanistan, domestic consequences of militarism abroad, and much more. Recorded January 15th, 2025. Read a full transcript enhanced with helpful links, or watch the full video. Connect with Ideas of India Follow us on X Follow Shruti on X Follow Ch...
2025-02-271h 45The Marginal Revolution PodcastThe Quest to Price OptionsIn the final episode of Season 1, Alex and Tyler explore one of the most consequential quests in the history of economics and finance: the decades-long search for a formula to price options. From Louis Bachelier's groundbreaking work in 1900 to the eventual triumph of Black, Scholes, and Merton in the 1970s, they trace how brilliant minds across mathematics, physics, and economics gradually unlocked the how to properly price financial instruments like calls and puts. Along the way, they examine how this theoretical breakthrough revolutionized modern markets, sparked the creation of the Chicago Board Options Exchange, and transformed our understanding of...
2024-12-1744 minThe Marginal Revolution PodcastThe New Monetary EconomicsIn this exploration of the "new monetary economics," Alex and Tyler revisit the ideas of thinkers like Fischer Black, Eugene Fama, and Robert Hall, whose bold views about the Fed and the money supply once seemed detached from reality but now increasingly describe the financial world we inhabit. They explore why traditional measures like the money supply are becoming obsolete, how crypto and stablecoins are reshaping monetary systems, and why AI might emerge as a major consumer—and creator—of cryptocurrencies. They also discuss the paradox of pegged currencies, the lessons of algorithmic stablecoin failures like Terra, and the surp...
2024-12-0348 minThe Marginal Revolution PodcastThe Economics of InsuranceIn this episode, Alex and Tyler dive deep into the fascinating and often misunderstood world of insurance, exploring how this trillion-dollar industry underpins modern economies while shaping human behavior in surprising ways. From its ancient roots in maritime adventures to the revolutionary development of life insurance, they unravel the economic logic and social norms that made this market possible. Along the way, they grapple with enduring puzzles: Why do people insure against some risks but not others? Why did life insurance once seem repugnant, only to become a moral imperative? How has the industry's ability to manage moral hazard...
2024-11-1958 minThe Marginal Revolution PodcastThe 1970s Crime WaveIn this final installment of their series on the 1970s, Alex and Tyler turn to the social upheaval and crime wave that marked the decade as one of America's most turbulent. They explore how rising crime rates transformed cities, fueled a national sense of fear, and led to far-reaching policy shifts, including mass incarceration and changes in urban policing. From the shocking statistics on homicide and stranger violence to the rise of serial killers and political bombings, they consider how the era's unprecedented violence influenced American culture and policy. The conversation concludes with a caution against complacency, as they...
2024-11-1251 min
Ideas of IndiaSukrit Puri on the Entanglement between Business and Politics in IndiaSubscribe to Grand Tamasha on Apple Podcasts, Spotify, Overcast, or your favorite podcast app. This is the 2024 job market series where I speak with young scholars entering the academic job market about the latest research in India. I spoke with Sukrit Puri, who is a PhD candidate in political science at MIT and an Elinor Ostrom fellow at the Mercatus Center at George Mason University. His research focus is on the entanglement between business and politics in emerging economies, and his dissertation focuses on family firms in India. We discussed his job market paper, Corporate K...
2024-10-0357 min
The Mixtape with ScottS3E15: Peter Boettke, Austrian Economics, George Mason UniversityThis week’s guest on the Mixtape with Scott is someone I’ve admired for a very long time, even before I entered graduate school in 2002. Peter J. Boettke is the Distinguished University Professor of Economics and Philosophy, the Director of the F. A. Hayek Program for Advanced Study in Philosophy, Politics and Economics and the BB&T Professor for the Study of Capitalism at the Mercatus Center at George Mason University. It’s hard to summarize just how important Peter has been to the story of Austrian economics, but in my mind, he’s been one of the most inf...
2024-04-301h 41
Macro Musings with David BeckworthMark Koyama on *How the World Became Rich: The Historical Origins of Economic Growth*Mark Koyama is an associate professor of economics at George Mason University and is a senior fellow with the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center. Mark is also a returning guest to the podcast, and he rejoins Macro Musings to talk about his recent book that he co-authored with Jared Rubin titled, *How the World Became Rich: The Historical Origins of Economic Growth.* Specifically, David and Mark discuss the key drivers of long-run economic growth throughout history and what we might be able to expect in the future.
2024-02-0555 min
Macro Musings with David BeckworthTyler Cowen on the Greatest Economist of All Time and Other Macro AwardsTyler Cowen is a professor of economics at George Mason University, and is the co-author of the popular economics blog, Marginal Revolution. Tyler has also published widely in the field of economics, and he is the author of numerous books, including his most recent one titled, *GOAT: Who is the Greatest Economist of All Time, and Why Does it Matter?* As a returning guest to show, Tyler rejoins Macro Musings for this special holiday episode to break down who should be considered the greatest economist of all time. David and Tyler also assign awards to the best performing macroeconomic...
2023-12-2556 min
Virtual SentimentsChristopher Coyne on the History of Surveillance CapitalismSeason 2 is here! On this episode, host Kristen Collins chats with Christopher Coyne on the history of surveillance state from the early 20th century to now and surveillance capitalism, where user data is sold or used for advertisement targeting. They also discuss foreign intervention, the interdisciplinary work on surveillance, his work on Tyranny Comes Home: The Domestic Fate of U.S. Militarism, and more.Christopher J. Coyne is associate director of the F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics and F. A. Harper Professor of Economics at the Mercatus Center at George...
2023-10-251h 30
Macro Musings with David BeckworthThomas Hoenig on Public Debt Sustainability and the Current State of the US Banking SystemThomas Hoenig is a distinguished senior fellow with the Mercatus Center at George Mason University, where he focuses on the long-term impacts of the politicization of financial services as well as the effects of government-granted privileges and market performance. He was formerly the vice chair of the FDIC from 2012 to 2018 and the 20 years prior to that, he was president of the Kansas City Federal Reserve Bank. Tom is also a returning guest to Macro Musings, and he rejoins to talk about the Treasury market, public debt sustainability issues, and the state of banking in the United States. David and...
2023-09-2559 min
Macro Musings with David BeckworthLarry White on Gold, Fiat, and Bitcoin: Determining the Ideal Monetary StandardLarry White is a professor of economics at George Mason University and is the author of a new book titled, *Better Money: Gold, Fiat, or Bitcoin?* Larry is also a returning guest to Macro Musings, and he rejoins the podcast to discuss this book and the comparison among those monetary standards. David and Larry specifically discuss the bottom-up vs. top-down theories of money, the basics and functionality of a gold, bitcoin, and fiat standards, the future of money, and more. Transcript for this week's episode. Larry's Twitter: @lawrencehwhite1 Larry's Me...
2023-08-141h 05
Ideas of IndiaPeter J. Boettke on Austrian Economics and the Knowledge ProblemIn this episode, Shruti speaks with Peter J. Boettke about the writings of F.A. Hayek, why artificial intelligence will not solve the knowledge problem, what many economists throughout history misunderstood about the market process, mainline vs. mainstream economics and much more. Boettke is a Distinguished University Professor of Economics and Philosophy at George Mason University, the BB&T Professor for the Study of Capitalism and the director of the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at George Mason University. He has written dozens of books, including "The Battle...
2023-07-192h 08
Macro Musings with David BeckworthGeorge Hall on the History of the U.S. National Debt and Government FinancingGeorge Hall is a professor of economics at Brandeis University, and was formerly an economist at the Chicago Federal Reserve Bank. George has written widely on the history of U.S. public finance, and he joins Macro Musings to talk about the history of the U.S. national debt, including the most recent surge resulting from the pandemic. David and George also discuss how a government goes about funding itself, two different models of expenditure financing, the Revolutionary War and Civil War as case studies, and more. Transcript for the episode can be found here.
2023-04-1749 min
Ideas of IndiaAlain Bertaud on Order Without DesignIn this episode, Shruti speaks with Alain Bertaud about how Indian cities have evolved, utilities pricing, land use restrictions such as floor area ratio and floor space index, slums, charter cities, urbanization in Africa and much more. Bertaud is an urbanist, distinguished visiting scholar at the Mercatus Center at George Mason University, and senior research scholar at New York University's Marron Institute of Urban Management. From 1980 to 1999, he was the principal urban planner at the World Bank. His book about urban planning is titled "Order Without Design: How Markets Shape Cities." Recorded February 7th, 2023 Read...
2023-03-021h 34
Macro Musings with David BeckworthMacro Lit Review 3: Highlights from Early 2023 with George SelginGeorge Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute. George is also a frequent guest on Macro Musings and he rejoins the podcast to talk about some recent developments in the monetary and fiscal policy space. Specifically, David and George discuss new narratives around shadow banking and the financial crisis, the fiscal cost of large central bank balance sheets, the return of secular stagnation, and a lot more. Transcript for the episode can be found here. George's Twitter: @GeorgeSelgin...
2023-02-0649 min
Ideas of IndiaA Conversation on TalentIn this episode, Shruti speaks with Tyler Cowen and Daniel Gross about their new book, "Talent: How To Identify Energizers, Creatives and Winners Around the World." They discuss how to identify and attract talent, competition vs. cooperation, the necessity of failure and resilience, effects of immigration on talent and much more. Cowen is the Holbert L. Harris Chair of Economics at George Mason University and serves as chairman and faculty director of the Mercatus Center at George Mason University. He is co-author of the popular economics blog Marginal Revolution and co-founder of the online educational platform Marginal Revolution University. Gro...
2022-09-011h 08
Macro Musings with David BeckworthBrian Knight on the Politicization of FinanceBrian Knight is the Director of Innovation and Governance at the Mercatus Center at George Mason University. Brian's research focuses on numerous aspects of financial regulation, including the creation of pro-innovation regulatory environments, the role of federalism in fintech regulation, the use of digital assets for financial transactions, the role of regulation for credit markets and consumer protection, and the provision of capital to businesses. Brian joins David on Macro Musings to discuss the politicization of finance and its implications for policy. Specifically, Brian and David discuss the concept of reputational risk and its relevance for financial regulation, the...
2022-06-2751 min
Mercatus Policy DownloadDr. Bruce Yandle's March 2022 Economic Situation ReportWelcome to the show! On this episode, Matthew Mitchell, Senior Research Fellow and Director of the Equal Liberty Initiative at the Mercatus Center at George Mason University, chats with Dr. Bruce Yandle about his latest economic situation report, including inflation, trade, the FTC, and much more. If you would like to connect with a scholar featured on this episode, please email the Mercatus Outreach team at mercatusoutreach@mercatus.gmu.edu. Check out Bruce's report here.
2022-03-1532 minMercatus Policy DownloadAntitrust Competition and its Intersection with Privacy Data ProtectionWelcome to the show! On this episode, Alden Abbott Senior Research Fellow at the Mercatus Center at George Mason University and former general counsel at the Federal Trade Commission, speaks with Commissioner Noah Phillips about all things FTC, including consumer protection, antitrust, monopolies, privacy, competition policy, and much more. If you would like to connect with a scholar featured on this episode, please email the Mercatus Outreach team at mercatusoutreach@mercatus.gmu.edu.
2022-03-0845 min
Macro Musings with David BeckworthEmily Hamilton on the Current State of the U.S. Housing Market and Solutions for ReformEmily Hamilton is a senior research fellow and director of the Urbanity Project at the Mercatus Center at George Mason University. Emily's research focuses on urban economics and land use policy, and she joins Macro Musings to talk about housing in the United States. Specifically, David and Emily discuss many of the issues present within the American housing market, why we should care about rampant housing shortages, and the most effective avenues we can pursue for largescale reform. Check out Conversations with Tyler: https://conversationswithtyler.com, and subscribe to Conversations with Tyler on your favorite p...
2022-02-2858 min
Macro Musings with David BeckworthBONUS: George Selgin on the Fed Taper and Shrinking the Fed's Balance SheetGeorge Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute and is also a long-time returning guest of Macro Musings. In this bonus segment from the previous conversation, George rejoins the podcast to talk about the Fed's near-term plans to shrink its balance sheet, the impact of the standing repo facility on demand for reserves, the potential benefits of returning to a corridor operating system, and more. Check out Ideas of India: https://www.discoursemagazine.com/tag/ideas-of-india-podcast/ Subscribe to Ideas of India on...
2022-01-2632 minMacro Musings with David BeckworthGeorge Selgin on the Future of CBDC, Fed Accounts, and StablecoinsGeorge Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute and is also a long-time returning guest of Macro Musings. He rejoins the podcast to talk about central bank digital currency, stablecoins, and the future of the Fed's balance sheet and operating system. Specifically, David and George also discuss the challenges presented by CBDC and Fed accounts, how they could create financial instability, George's proposal for wholesale CBDC, and more. Check out Conversations with Tyler: https://conversationswithtyler.com, and subscribe to Conversations with Tyler o...
2022-01-2452 minMercatus Policy DownloadEvidence-Free Policymaking: HHS SUNSET Rule Repeal Welcome to The Bridge Policy Download, produced by the Mercatus Center at George Mason University. James Broughel discusses the US Department of Health and Humans Services (HHS) proposed rule to rescind the Securing Updated and Necessary Statutory Evaluations Timely (SUNSET) rule finalized in January of 2021. The SUNSET rule attaches sunset provisions—i.e., expiration dates—to HHS regulations such that if HHS does not conduct assessments and reviews of regulations on a timely basis, then those regulations expire. Broughel explains the purpose of the SUNSET rule, lists his concerns with the proposed repeal, and then suggests alternative ways...
2021-12-2819 minMercatus Policy DownloadDr. Bruce Yandle's December 2021 Economic Situation ReportWelcome to the Bridge Policy Download produced by the Mercatus Center at George Mason University. Today, we’re bringing you a conversation between Matthew Mitchell, Senior Research Fellow and Director of the Equal Liberty Initiative here at Mercatus, and Dr. Bruce Yandle, Distinguished Adjunct Fellow here at Mercatus. They discuss Bruce’s latest economic situation report for December 2021, including the hot topic of late, inflation. They also talk about expectations for GDP growth and output, import competition, environmental regulations, and some financial advice Bruce received from his father that is still worth heeding today. If y...
2021-12-2130 min
Macro Musings with David BeckworthGeorge Selgin on Bitcoin and the Future of CBDCsGeorge Selgin is the director emeritus of the Cato Institute's Center for Monetary and Financial Alternatives and is a returning guest to Macro Musings. George rejoins David on the podcast to discuss cryptocurrency, stable coins, CBDCs, and a push for a higher inflation target. Specifically, George and David discuss the category of 'synthetic commodity money' and how bitcoin is a potential example, the current state of Bitcoin amidst El Salvador's transition to Bitcoin as its legal tender, the role of fintechs in the potential future of a Fed central bank digital currency, and much more. T...
2021-10-2547 min
Macro Musings with David BeckworthChris Russo on the 2021 Debt Limit Fight, Its Potential Impacts, and Solutions for ReformChris Russo is a post-graduate research fellow in the Monetary Policy Program of the Mercatus Center at George Mason University and is a former economist at the New York Federal Reserve Bank. He re-joins Macro Musings to talk about the growing concerns over the US debt ceiling, what it could mean for the economy, and how to fix the issue. Transcript for the episode can be found here. Chris's Twitter: @RussoEcon Chris's Mercatus profile: https://www.mercatus.org/scholars/christopher-russo Chris's Github site: https://christopher-russo.github.io/ab...
2021-10-0453 minMercatus Policy DownloadDr. Bruce Yandle's September 2021 Economic Situation ReportWelcome to the Bridge Policy Download produced by the Mercatus Center at George Mason University. Today, we’re bringing you a conversation between Matthew Mitchell, Senior Research Fellow and Director of the Equal Liberty Initiative here at Mercatus, and Dr. Bruce Yandle, Distinguished Adjunct Fellow here at Mercatus. They discuss Bruce’s latest economic situation report for September 2021, including the role of risk and uncertainty in what Bruce calls the Frankenstein economy. They talk about debt forgiveness, corporate tax and antitrust reform, the exploding demand for building materials, and much more. If you’d like to...
2021-09-1425 min
Ideas of IndiaThe 1991 ProjectIdeas of India is a podcast in which Mercatus Senior Research Fellow Shruti Rajagopalan examines the academic ideas that can propel India forward. You can subscribe to the podcast on Apple, Spotify, Google, Overcast, Stitcher or the podcast app of your choice. In this episode, Shruti talks with Shreyas Narla and Prakhar Misra about India's 1991 economic reforms. They discuss the role of Prime Minister Rao and Finance Minister Manmohan Singh, India's transition from socialism to a market economy, the continued relevance of the 1991 reforms today and much more. Narla and Misra are research associates in the field of Indi...
2021-08-191h 12Mercatus Policy DownloadAntitrust, Christianity, and Market RegulationWelcome to the Bridge Policy Download produced by the Mercatus Center at George Mason University. Today we’re bringing you a conversation between Alden Abbott, Senior Research Fellow here at Mercatus, Daniel Crane, the Frederick Paul Furth Sr. Professor of Law at the University of Michigan, and Kenneth Elzinga, the Robert C. Taylor Professor of Economics at the University of Virginia. They discuss the connection between the world of antitrust and Christianity, capitalism as a vehicle for good, protestant moral theology and antitrust policy, Dan and Ken's latest co-authored book chapter, and much more. Check ou...
2021-08-0350 minMercatus Policy DownloadThe Future of America's Workforce--Innovative, Mobile, and IndependentWelcome to the Bridge Policy Download produced by the Mercatus Center at George Mason University. Today we’re bringing you the audio from a recent webinar we held between Karen Czarnecki, Vice President of Outreach, and Liya Palagashvili, Senior Research Fellow, both here at Mercatus, on independent workers, the gig economy, innovation, labor law, economics, and much more. With the rise of independent work--whether app-based, contracting, consulting, and beyond--and new flexible arrangements like fully distributed teams or hybrid office environments, barriers to entering the workforce are falling and workers are embracing this newfound flexibility.
2021-07-0640 minMercatus Policy DownloadInflation and What to Expect from the FedWelcome to The Bridge Policy Download produced by the Mercatus Center at George Mason University. The executive director of the Mercatus Center, Dan Rothschild, has a conversation with Mercatus scholars David Beckworth and Christopher Russo about inflation and deflation, supply side bottlenecks, spillover effects, base effects, the velocity of money, the US debt/gdp ratio, black swan events, and why we shouldn’t fear a repeat of 70s-era inflation. If you would like to contact a scholar involved in this episode, please email mercatusoutreach@mercatus.gmu.edu.
2021-06-2218 minMercatus Policy DownloadDr. Bruce Yandle's June 2021 Economic Situation ReportWelcome to the Bridge Policy Download produced by the Mercatus Center at George Mason University. Today, we’re bringing you a conversation between Matthew Mitchell, Senior Research Fellow and Director of the Equal Liberty Initiative here at Mercatus, and Dr. Bruce Yandle, Distinguished Adjunct Fellow here at Mercatus. They discuss Bruce’s latest economic situation report for June 2021, including turning the corner on the COVID-19 pandemic economy, current inflation stats, the difference between crises and serious problems American’s are facing today, and much more. If you’d like to contact the scholar involved...
2021-06-1530 minMercatus Policy DownloadLessons from Liberalism: Insights for the Current Immigration DebateWelcome to the Bridge Policy Download produced by the Mercatus Center at George Mason University. Today, we’re bringing you the audio from a recent webinar we co-hosted with the Classical Liberal Institute on the current immigration debate. The panel shares insight from their recent books and working papers on the topic and then go on to discuss the benefits of immigration, reform options for our current Congress, how and why reform efforts should be informed by policy research, and much more. If you’d like to contact the scholar involved in this webi...
2021-06-081h 27Mercatus Policy DownloadLand Use Without Zoning: Putting Ideas into PracticeWelcome to The Bridge Policy Download, produced by the Mercatus Center at George Mason University. Zoning and land use policy regulations present the greatest barriers to affordable housing and increased urban density. Understanding how to navigate and remove these barriers allows for a dynamic housing market and paves the way for successful community development efforts. The study of the impact of land use and zoning policy began with Bernard Siegan in his pioneering 1972 study, "Land Use Without Zoning." In his book, Siegan first set out what has today emerged as a common-sense perspective: Zoning not only fails t...
2021-05-2555 min
Macro Musings with David BeckworthGeorge Selgin on Inflation, Fintechs, and Broadening Access to Fed Master AccountsGeorge Selgin is the director of the Cato Institute's Center for Monetary and Financial Alternatives and is a returning guest to the podcast. He rejoins Macro Musings to talk about the Fed's recent calls for comments on opening up Fed accounts to fintechs and other non-bank financial firms. George and David also discuss monetary plumbing issues, the state of fiscal QE, and more. Transcript for the episode can be found here. George's Twitter: @GeorgeSelgin George's Cato Institute profile: https://www.cato.org/people/george-selgin Related Lin...
2021-05-2455 minMercatus Policy DownloadDigital Platforms: Antitrust or Regulation?Welcome to the Bridge Policy Download produced by the Mercatus Center at George Mason University. Today we’re bringing you the audio from a recent webinar we held on Antitrust. Antitrust and other regulatory authorities around the world are busily assessing potential enforcement actions against big digital platforms, including Google, Facebook, and Amazon, among others. The panel addresses the following questions: Should governments establish regulations that sets clear rules of conduct for digital platforms? Can existing “consumer welfare” standards guiding antitrust enforcement effectively curb abuses by digital platforms? Are proposals to heighten antitr...
2021-05-041h 22Mercatus Policy DownloadIndia's COVID-19 CrisisWelcome to The Bridge Policy Download produced by the Mercatus Center at George Mason University. India's COVID-19 cases have been rising at an alarmingly rapid rate since mid-March, and the virus is now killing thousands of people each day in India. Dan Rothschild, Executive Director here at Mercatus, talks to Shruti Rajagopalan, Senior Research Fellow and leader of Indian political economy research and Emergent Ventures India at Mercatus, about the rising COVID-19 cases in India, if lockdowns are the answer to halting India's rising cases, India's vaccine distribution, their hospital capacity, and how the United S...
2021-04-2627 minMercatus Policy DownloadEconomic Benefits of the Patent SystemWelcome to the Bridge Policy Download produced by the Mercatus Center at George Mason University. Today, we’re bringing you a conversation between Alden Abbott, Senior Research Fellow here at Mercatus, and Daniel Spulber, Professor of International Business, Strategy, and Law at Northwestern University. They take a deep dive into Professor Spulber’s latest book, The Case for Patents, they discuss what we can possibly expect from policy makers regarding patents in the coming years, and much more. If you’d like to contact a scholar involved in this episode, please email mercatusoutreach@mercatus.gmu.edu.
2021-04-0635 minMercatus Policy DownloadDr. Bruce Yandle's March 2021 Economic Situation ReportWelcome to the Bridge Policy Download produced by the Mercatus Center at George Mason University. Today, we're bringing you a conversation between Matthew Mitchell, Senior Research Fellow and Director of the Equity Initiative here at Mercatus, and Dr. Bruce Yandle, Distinguished Adjunct Fellow at Mercatus. They discuss Bruce's latest economic situation report for March 2021, the latest COVID-19 stimulus package, forgiving student loan debt, the debate for raising the federal minimum wage, and much more. If you’d like to contact a scholar involved in this episode, please email mercatusoutreach@mercatus.gmu.edu
2021-03-1634 min
Macro Musings with David BeckworthChris Russo on Existing Fed-Treasury Tensions and Potential Solutions for Fixing ThemChris Russo is a Monetary Policy Program Research Fellow at the Mercatus Center at George Mason University and has previously worked at the New York Federal Reserve Bank. He joins Macro Musings to talk about the work he is doing on tensions between the Fed and the Treasury's management of their respective balance sheets. Specifically, David and Chris discuss what these tensions are and what fixes can be implemented to ameliorate the existing plumbing issues. Transcript for the episode can be found here. Chris's Mercatus profile: https://www.mercatus.org/scholars/ch...
2021-03-1556 minMercatus Policy DownloadThe Best Arguments For and Against Paid Federal LeaveWelcome to the Bridge Policy Download produced by the Mercatus Center at George Mason University. Today, we’re bringing you the audio from a recent virtual congressional briefing we held on the best arguments for and against paid federal leave. It is often noted that the United States is the only industrialized country without a federal paid leave program. While true, Dr. Veronique de Rugy points out that this doesn't necessarily mean that women in countries that have such government-mandated programs are doing better than women in the United States. In this Congressional staff briefing, de...
2020-12-2934 minMercatus Policy DownloadInnovation Policy and its FutureWelcome to the Bridge Policy Download produced by the Mercatus Center at George Mason University. Today, we’re bringing you the audio from a recent webinar we held on the future of innovation policy. Adam Thierer promotes his research and perspectives on technology and innovation policy alongside one of the world’s foremost thinkers on the subject, Matt Ridley. If you’d like to contact a scholar involved in this webinar, please email mercatusoutreach@mercatus.gmu.edu We've changed our name! What was formally known at the Mercatus Policy Download is now Th...
2020-12-0858 minMercatus Policy DownloadWhat Does Progressive Social Security Reform Look Like?Welcome to the Bridge Policy Download produced by the Mercatus Center at George Mason University. Today, we’re bringing you the audio from a recent webinar we held on social security and progressive reforms. In a new research paper, “An Analytical Framework for Strengthening Social Security,” leading expert Charles P. Blahous details a number of problems facing Social Security and how they can be addressed. Ben Ritz and Jason Fichtner joined Blahous for a discussion to provide insight into the framework and share their research findings. If you’d like to contact a s...
2020-11-2456 minMercatus Policy DownloadState Regulation: Policy Solutions for State LawmakersWelcome to The Bridge Policy Download produced by the Mercatus Center at George Mason University. Today we're bringing you part 2 of our most recent webinar on regulatory reform. If you missed part 1, you can listen to that episode here. Our speakers today are James Broughel, Senior Research Fellow at the Mercatus Center, Matthew D. Mitchell, Senior Research Fellow at the Mercatus Center, Gretchen Conger, Deputy Chief of Staff for Arizona Governor Doug Ducey, and Jessica Cleveland, Oklahoma Deputy Secretary of State. If you’d like to contact a scholar involved in this webinar, plea...
2020-10-2757 minMercatus Policy DownloadState Regulation: The Case for ReformWelcome to the Bridge Policy Download produced by the Mercatus Center at George Mason University. Today, we’re bringing you the audio from a recent webinar we held on why states should undertake regulatory reform. This is the first of a two-part series on state regulatory reform. The second part, on how states can implement reforms, will release next week. Our speakers today are James Broughel, Senior Research Fellow at the Mercatus Center at George Mason University, Colin O'Reilly, Associate Professor, Heider College of Business, and Laura Jones, Visiting Research Fellow at the Mercatus Center an...
2020-10-2053 minMercatus Policy DownloadRegulations and Inequality: How Government Overreach Hurts the PoorRegulations advance product safety, environmental quality, and sound business practices, but the consequences of poorly designed and implemented rules are more severe than previously thought. Regulatory accumulation has a disproportionately negative impact on the poorest and most vulnerable Americans. From increased poverty and income inequality to reduced entrepreneurialism and upward mobility, the consequences of bad policy are grave. Karen Czarnecki, Vice President of Outreach at the Mercatus Center moderates a discussion between Patrick McLaughlin, Senior Research Fellow and Director of Policy Analytics at the Mercatus Center at George Mason University, Dustin Chambers, Senior Affiliated Scholar Professor of E...
2020-10-1343 min
Ideas of IndiaAjay Shah on Indian State Capacity and Policy PrioritiesWelcome to Ideas Of India, where we examine the academic ideas that can propel India forward. My name is Shruti Rajagopalan, and I'm an economist at the Mercatus Center at George Mason University. My guest today is Ajay Shah, professor of economics at the National Institute of Public Finance and Policy in New Delhi. Over the years I've learned a lot from Ajay's academic and policy-oriented research on India, which is written at the intersection of economics, law, and public administration. His latest book, In Service of the Republic: The Art and Science of Economic P...
2020-08-061h 25
Macro Musings with David BeckworthThomas Hoenig on Bank Capitalization and Fed Policy after COVID-19Thomas Hoenig is a former vice chair of the FDIC, former president of the Kansas City Federal Reserve Bank, and is currently a distinguished senior fellow at the Mercatus Center at George Mason University. Tom's research has focused on the long-term impact of the politicization of financial services, as well as the effects of government grant privileges on market performance. Tom joins David on Macro Musings to talk about COVID-19, the Fed's response to its economic impact, and the current state of banking in the United States. Transcript for the episode can be found here.
2020-05-2555 min
Macro Musings with David BeckworthScott Sumner on the Government's Response to COVID-19 and the Future of Level TargetingScott Sumner is the Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center at George Mason University, Professor Emeritus of economics at Bentley University, and a research fellow at the Independent Institute. As a returning guest to the podcast, Scott joins Macro Musings to give his latest thoughts on the COVID-19 crisis and its implications for monetary policy. Specifically, David and Scott discuss how the Fed can conduct more aggressive monetary policy, what a level targeting regime should look like in the future, and the current progression toward negative interest rates. Transcript for t...
2020-05-2050 min
Macro Musings with David BeckworthAlex Tabarrok on COVID-19 Response Efforts, Proposals for Continued Recovery, and Lessons for the FutureAlex Tabarrok is a professor of economics at George Mason University and a research fellow at the Mercatus Center. Alex joins David Beckworth on the podcast to discuss how best to deal with COVID-19 and what lessons we can learn from it moving forward. Transcript for the episode can be found here. Alex's Twitter: @ATabarrok Alex's GMU profile: https://mason.gmu.edu/~atabarro/ Related Links: Bonus segment with Tabarrok: https://www.youtube.com/watch?v=tQUnnumgXvw&feature=youtu.be ...
2020-04-1354 min
Conversations with TylerJohn McWhorter on Linguistics, Music, and Race (Live at Mason)Who can you ask about the Great American Songbook, the finer Jell-O flavors, and peculiar languages like Saramaccan all while expecting the same kind of fast, thoughtful, and energetic response? Listeners of Lexicon Valley might hazard a guess: John McWhorter. A prominent academic linguist, he's also highly regarded for his podcast and popular writings across countless books and articles where often displays a deep knowledge in topics beyond his academic training. John joined Tyler to discuss why he thinks that colloquial Indonesian should be the world's universal language, the barbaric circumstances that gave rise to Creole languages...
2020-03-111h 18
Macro Musings with David BeckworthScott Sumner on How Central Banks Should Respond to the Coronavirus ThreatScott Sumner is the Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center at George Mason University, and a returning guest to Macro Musings. Scott joins the show today to talk about the recent market turmoil caused by the COVID-19 coronavirus and its implications for monetary policy. David and Scott also discuss how the Fed should respond to a possible pandemic, why monetary policy is preferable to fiscal policy during a crisis, and how to approach the central bank credibility problem. Transcript for the episode can be found here: https://www.mercatus.org/br...
2020-03-0254 min
Macro Musings with David BeckworthGeorge Selgin on Repo Market Stress, Fed Balance Sheet Volatility, and a Standing Repo FacilityGeorge Selgin is the director of the Cato Institute's Center for Monetary and Financial Alternatives and is a returning guest to the Macro Musings podcast. He joins the show today as part of a two week special on the Fed and repo markets, as he helps us take a look at recent repo market stress from the Fed's perspective. Specifically, David and George discuss the basics of the Fed's balance sheet, the problematic nature of the Treasury General Account and foreign repo pools, and how George would tweak standing repo facility proposals to more directly address balance sheet volatility.
2019-12-1658 min
Macro Musings with David BeckworthGeorge Selgin on the Past, Present, and Future of a Real-time Payments SystemGeorge Selgin is the director of the Cato Institute's Center for Monetary and Financial Alternatives and is a returning guest to the Macro Musings podcast. Today, George joins the show to talk about recent developments in the payment system. Specifically, George and David discuss the history of attempted payment system solutions, the challenges and costs facing the implementation of a real-time payment system, and why we should care about this issue today. Transcript for the episode: https://www.mercatus.org/bridge/podcasts/11112019/george-selgin-past-present-and-future-real-time-payments-system George's Twitter: @GeorgeSelgin George's Cato Institute profi...
2019-11-1156 min
Macro Musings with David BeckworthAlex Tabarrok on the Elements of Economic Growth and the Decline of DynamismAlex Tabarrok is a professor of economics at George Mason University and holds the Bartley J. Madden Chair in Economics at the Mercatus Center. Alex has written widely on long run economic growth and joins the show today to talk about it. David and Alex also discuss how capital relates to economic growth, the impact of regulation on dynamism, and the important distinction between "catch-up" and "cutting edge" growth. Transcript for the episode: https://www.mercatus.org/bridge/podcasts/09092019/alex-tabarrok-elements-economic-growth-and-decline-dynamism Alex's Twitter: @ATabarrok Alex's Mercatus profile: https://asp.mercatus.or...
2019-09-0957 min
Macro Musings with David BeckworthThomas Hoenig on the Federal Reserve and the State of Banking in the USThomas Hoenig was vice-chair of the FDIC from 2012-2018 and in the 20 years prior to that he was also president of the Kansas City Federal Reserve Bank. Thomas is currently a distinguished senior fellow at the Mercatus Center at George Mason University where he focuses on the long-term impact of the politicization of financial services, as well as the effects of government granted privileges and market performance. He joins the show today to talk about his career and some of the current issues in banking. David and Thomas also assess the effectiveness of quantitative easing, the advantages and disadvantages...
2019-08-2659 min
Macro Musings with David BeckworthTyler Cowen on the Culture of Big Business in the United StatesTyler Cowen is a professor of economics at George Mason University and is the co-author of the popular economics blog, Marginal Revolution. Tyler has published widely in economics and is the author of numerous books including his 2017 book, *The Complacent Class: The Self-Defeating Quest for the American Dream.* As a returning guest to the show, however, he joins today to talk about his newest book, *Big Business: A Love Letter to an American Anti-Hero.* David and Tyler also discuss many aspects of big business, including its common critiques, the fallacy of the monopoly in America, and how income inequality...
2019-07-2258 min
Conversations with TylerMargaret Atwood on Canada, Writing, and Invention (Live at Mason)Margaret Atwood defines the Canadian sense of humor as "a bit Scottish," and in this live conversation with Tyler, she loves to let her own comedic sensibilities shine. In addition to many other thoughts about Canada — it's big after all — she and Tyler discuss Twitter, biotechnology, Biblical history, her families of patents, poetry, literature, movies, and feminism. Is it coincidence that Atwood started The Handmaid's Tale in West Berlin during 1984? Does she believe in ghosts? Is the Western commitment to free speech waning? How does she stay so productive? Why is she against picking favorites? Atwood provides insight to t...
2019-04-241h 14Mercatus Policy DownloadAuer Deference and Administrative LawDeference is one of those magical words in the world of regulatory policy. Different types of deference play a huge role in how courts and federal agencies interact when it comes to deciding cases, and those cases in turn help shape federal policy on everything from healthcare to financial markets to environmental protection. We say that upfront, because we’re about to dip our toes in the waters of administrative law, that’s the branch of law that deals with how regulations are made, and Chad's the only non-lawyer here at the table. So he reserves the righ...
2019-04-1635 min
Macro Musings with David BeckworthBryan Cutsinger on Seigniorage and the Monetary Economics of the Civil WarBryan Cutsinger is an economist affiliated with Angelo State as well as Texas Tech University and recently published an article titled *Seigniorage in the Civil War South*. He joins the show today to talk about this article, the monetary history of the Civil War, and the economics of Seigniorage. David and Bryan also discuss how both the North and the South financed the war and why the South made some counterintuitive decisions in how they conducted monetary policy. Transcript for the episode: https://www.mercatus.org/bridge/podcasts/03292019/civil-war-and-economics-seigniorage Bryan's website: htt...
2019-04-0158 min
Macro Musings with David BeckworthJames Broughel on the Social Discount RateJames Broughel is a senior research fellow at the Mercatus Center and an adjunct professor of law at George Mason University Law School. James specializes in state and federal regulatory procedures, cost-benefit analysis, and economic growth. He joins the show today to talk about a recent symposium he hosted on the social discount rate; what it is, its uses, and the controversy surrounding how to measure it. David and James also discuss cost-benefit analysis in the regulatory world and why the social discount rate matters for policy. Transcript for the episode: https://www.mercatus.org/b...
2019-03-181h 00
Macro Musings with David Beckworth145 – George Selgin on *Floored!*George Selgin is the director of the Cato Institute's Center for Monetary and Financial Alternatives, professor emeritus of economics at the University of Georgia, and a returning guest to show. For this special live episode, George joins Macro Musings to talk about his new book, *Floored: How a Misguided Fed Experiment Deepened and Prolonged the Great Recession.* David and George also discuss the liquidity coverage ratio, the Fed's transition from a corridor to a floor system, and the arguments for and against such an operating system. Transcript for the episode: https://www.mercatus.org/bridge/pod...
2019-02-251h 13
Conversations with TylerJohn Nye on Revisionist Economic History and Having Too Many HobbiesIs John Nye the finest polymath in the George Mason economics department? Raised in the Philippines and taught to be a well-rounded Catholic gentleman, John Nye learned the importance of a rigorous education from a young age. Indeed, according to Tyler he may very well be the best educated among his colleagues, having studied physics and literature as an undergraduate before earning a master's and PhD in economics. And his education continues, as he's now hard at work mastering his fourth language. On this episode of Conversations with Tyler, Nye explains why it took longer f...
2018-11-2158 min
Macro Musings with David Beckworth130 – Don Boudreaux on Free Trade, Protectionism, and the China ShockDon Boudreaux is a professor of economics at George Mason University as well as the co-director of the Program on the American Economy and Globalization at the Mercatus Center. He joins the show today to talk about the future of trade and globalization. David and Don also discuss the history of protectionism in the US, President Trump's trade policies, and why the China Shock thesis may signal bad economics. Don's blog: https://cafehayek.com/ Don's Mercatus Profile: https://www.mercatus.org/donald-j-boudreaux Related Links: *Clashing over Commerce: A History of U.S. Trade Policy* by Doug Irwin https://www.press...
2018-10-2957 minMercatus Policy DownloadEmergent Ventures Launches at MercatusToday we have a special bonus episode for you, giving you a look inside the Mercatus Center’s newest project. Those of you who have followed our work over the past year or so may have noticed an increased attention to the idea of policy moonshots: high-risk, high-reward efforts aimed at dramatically improving the world. Today, we’re taking our own advice. This fall, the Mercatus Center will launch “Emergent Ventures,” an incubator designed to fund and support dynamic and promising ideas with the potential to improve society. To talk more about Emergent Ventures, we have a s...
2018-07-1810 min
Conversations with TylerDavid Brooks on Youth, Morality, and Loneliness (Live at Mason)For two hours every morning, David Brooks crawls around his living room floor, organizing piles of research. Then, the piles become paragraphs, the paragraphs become columns or chapters, and the process - which he calls "writing" - is complete. After that he might go out and see some people. A lunch, say, with his friend Tyler. And the two will discuss the things they're thinking, writing, and learning about. And David will feel rejuvenated, for he is a social animal (as are we all). Then one day David will be asked by Tyler to come on his s...
2018-06-061h 22
伍治坚Don Boudreaux (George Mason Univ): Globalization and Trade WarsToday my guest is Mr Donald Boudreaux.Professor Boudreaux is a Senior Fellow with the F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at George Mason University, a Mercatus Center Board Member, and a professor of economics and former economics-department chair at George Mason University. He holds the Martha and Nelson Getchell Chair for the Study of Free Market Capitalism at the Mercatus Center. He specializes in globalization and trade, law and economics, and antitrust economics.Today, we will mainly discuss one of the books written by Prof...
2018-05-1659 min
Conversations with TylerBryan Caplan on Learning across Disciplines (Live at Mason Econ)"No single paper is that good", says Bryan Caplan. To really understand a topic, you need to read the entire literature in the field. And to do the kind of scholarship Bryan's work requires, you need to cover multiple fields. Only that way can you assemble a wide variety of evidence into useful knowledge. But few scholars ever even try to reach the enlightened interdisciplinary plane. So how does he do it? Tyler explores Bryan's approach, including how to avoid the autodidact's curse, why his favorite philosopher happens to be a former classmate, what Tolstoy...
2018-05-091h 11
Conversations with TylerMartina Navratilova on Shaping Herself (Live at Mason)Martina Navratilova is one of the greatest tennis players of all time. No one has won more matches than her thanks to an astonishing 87 percent win rate in a long and dominant career. In their conversation, she and Tyler cover her illustrious tennis career, her experience defecting from Czechoslovakia and later becoming a dual citizen, the wage gap in tennis competition and commentary, gender stereotypes in sports, her work regimen and training schedule, technological progress in tennis, her need for speed, journaling and constant self-improvement, some of her most shocking realizations about American life, the best way...
2018-03-281h 05
Macro Musings with David Beckworth[Rebroadcast] Daniel Griswold on the Basics of TradeDaniel Griswold is a Mercatus Center Senior Research Fellow and Co-Director of the Program on the American Economy and Globalization at the Mercatus Center at George Mason University. He joins the show to discuss the theory of trade, dating back to Adam Smith, and his work on current US trade policy. Daniel and David discuss some of the misconceptions surrounding trade and why Americans should embrace free trade instead of protectionism. This episode was originally aired on May 1, 2017. [To sign-up for Mercatus' NGDP prediction market, go to get.mercatus.org/ngdppredictions/. Just answer a few simple questions, and you'll receive...
2018-03-191h 00
Conversations with TylerRobin Hanson on Signaling and Self-Deception (Live at Mason Econ)If intros aren't about introductions, then what's this here for? Is not including one a countersignal? Either way, you'll enjoy this conversation — and that says a lot about you. This episode was recorded live at Mason for econ grad students. If you're interested in learning economics with great professors like Robin and Tyler, check out these fellowships. Read a full transcript enhanced with helpful links. Recorded February 6th, 2018 Other ways to connect Follow us on Twitter and Instagram Follow Tyler on Twitter Follow Robin on Twitter Email us: cowenconvos@mercatus.gmu.edu Subscri...
2018-02-281h 05
Conversations with TylerRoss Douthat on Narrative and Religion (Live at Mason)Last year, Tyler asked his readers "What Is the Strongest Argument for the Existence of God?" and followed up a few days later with a post outlining why he doesn't believe in God. New York Times columnist Ross Douthat accepted the implicit challenge, responding to the second post in dialogic form and arguing that theism warrants further consideration. This in-person dialogue starts along similar lines, covering Douthat's views on religion and theology, but then moves on to more earth-bound concerns, such as his stance on cats, The Wire vs The Sopranos, why Watership Down is the best...
2018-01-171h 25
Conversations with TylerMary Roach on Disgust, Death, and Danger (Live at Mason)Legal writing was never Mary Roach's thing. She describes that short-lived stint as an inscrutable "bringing forth of multisyllabic words." Instead, she's forged a career by letting curiosity lead the way. The result has been a series of successful books — Grunt, Gulp, Spook, Stiff, and Bonk among them— that all reveal a specific sense of nonsensibility (and love for monosyllabic titles). She joins Tyler Cowen for a conversation covering the full range of her curiosity, including fear, acclimating to grossness, chatting with the dead, freezing one's head, why bedpans can kill you, sex robots, Freud, thinking like an astro...
2017-10-181h 15
Macro Musings with David Beckworth73 - JW Verret on Rules-Based Monetary Policy and the CHOICE ActJW Verret is an associate law professor at the Antonin Scalia School of Law at George Mason University and a senior affiliated scholar at the Mercatus Center. Previously, he served as the chief economist on the House Financial Services Committee. Today, he joins the show to discuss his experience working on Capitol Hill and his thoughts on the CHOICE Act, the current legislation designed to replace the Dodd-Frank Act. David's blog: http://macromarketmusings.blogspot.com/ Macro Musings podcast site: macromusings.com David's Twitter: @DavidBeckworth JW Verret's Mercatus profile: https://www.mercatus.org/j-w-verret JW Verret's GMU profile: https://www.law...
2017-09-0457 min
Macro Musings with David Beckworth65 - Stephen Miller on Financial Crises, Capital Requirements, and the US Banking SystemStephen Matteo Miller is a Senior Research Fellow at the Mercatus Center at George Mason University. He joins the show to discuss his work on the history of financial crises as well as the evolution of the U.S. banking system since the late 1800s. Steph stresses the importance of capital requirements (how much capital or equity a bank holds relative to its liabilities) in combating financial crises. Furthermore, he argues that higher and simpler capital requirements, rather than more regulation, are the keys to a more market-disciplined banking system. David's blog: http://macromarketmusings.blogspot.com/ Stephen Miller's Mercatus profile...
2017-07-1059 min
Conversations with TylerBen Sasse on the Space between Nebraska and Neverland (Live at Mason)The US senator and former college president joined Tyler for a conversation on adolescence, adulthood, driving for Uber, loving Luther, hate-reading Rousseau, the decline of small towns, backpacking across Europe, America's peculiar fondness for age-segregation, and why his latest book contains so little sex. Read a full transcript enhanced with helpful links, or watch the full video. Recorded June 14th, 2017 Other ways to connect Follow us on Twitter and Instagram Follow Tyler on Twitter Follow Ben on Twitter Email us: cowenconvos@mercatus.gmu.edu Subscribe at our newsletter page to have the latest Con...
2017-06-281h 21
Macro Musings with David Beckworth61 - Steve Horwitz on Monetary Disequilibrium and Austrian Business Cycle TheorySteven Horwitz is a professor of economics at Ball State University and a senior affiliated scholar at the Mercatus Center at George Mason University. He joins the show to discuss monetary disequilibrium (the condition when the supply and demand for money are not aligned, which leads to either inflation or deflation). David and Steve also examine Austrian Business Cycle Theory – a theory of how "malinvestment" caused by bad policy leads to an unsustainable boom and inevitable bust. Steve also explains how monetary disequilibrium led to the Great Recession and offers some solutions for minimizing business cycles in the future. David's bl...
2017-06-1259 min
Macro Musings with David Beckworth55 – Daniel Griswold on the Basics of TradeDaniel Griswold is a Mercatus Center Senior Research Fellow and Co-Director of the Program on the American Economy and Globalization at the Mercatus Center at George Mason University. He joins the show to discuss the theory of trade, dating back to Adam Smith, and his work on current US trade policy. Daniel and David discuss some of the misconceptions surrounding trade and why Americans should embrace free trade instead of protectionism. David's blog: http://macromarketmusings.blogspot.com/ Daniel Griswold's blog: https://madabouttrade.com/ David's Twitter: @DavidBeckworth Daniel Griswold's Twitter: @DanielGriswold Related links: "Plumbing America's Balance of Trade" by Daniel Griswold...
2017-05-0159 min
Macro Musings with David Beckworth52 – Tyler Cowen on Complacency, Immobility, and StagnationTyler Cowen is a professor of economics at George Mason University as well as the general director of the Mercatus Center at George Mason University. He joins the show to discuss his new book, *The Complacent Class: The Self-Defeating Quest for the American Dream.* Tyler argues that restlessness and willingness to take risks have been key traits throughout American history. However, in the last few decades, American society has become more risk-averse. While we may have become more comfortable with less risk-taking, this complacency has led to less innovation and dynamism in the economy. Such stasis is causing economic stagnation...
2017-04-1055 min
Macro Musings with David Beckworth51 – George Selgin on Reforming Open Market Operations and Normalizing Fed PolicyGeorge Selgin, director of the Cato Institute's Center for Monetary and Financial Alternatives, returns to *Macro Musings* to discuss his new proposal to reform how the Fed conducts open-market operations. He proposes abolishing the current primary dealer system and expanding the Fed's number of counterparties. David and George also discuss the Fed's plans for 2017 and whether it will seek to reduce its large balance sheet. David's blog: macromarketmusings.blogspot.com/ George Selgin's Cato archive: www.cato.org/people/george-selgin George Selgin's Alt-M archive: https://www.alt-m.org/author/selgin/ (contains George's monetary policy primer posts) David's Twitter: twitter.com/DavidBeckworth...
2017-04-0357 min
Conversations with TylerMalcolm Gladwell Wants to Make the World Safe for Mediocrity (Live at Mason)Journalist, author, and podcaster Malcolm Gladwell joins Tyler for a conversation on Joyce Gladwell, Caribbean identity, satire as a weapon, Daniel Ellsberg and Edward Snowden, Harvard's under-theorized endowment, why early childhood intervention is overrated, long-distance running, and Malcolm's happy risk-averse career going from one "fur-lined rat hole to the next." Read a full transcript enhanced with helpful links, or watch the full video. Recorded February 27th, 2017 Other ways to connect Follow us on Twitter and Instagram Follow Tyler on Twitter Follow Malcolm on Twitter Email us: cowenconvos@mercatus.gmu.edu Subscribe at our newsl...
2017-03-151h 32
Macro Musings with David Beckworth45 – Hester Peirce on *Reframing Financial Regulation*Hester Peirce is a Senior Research Fellow at the Mercatus Center at George Mason University and director of Mercatus' Financial Markets Working Group. She joins the show to discuss the new Mercatus book, *Reframing Financial Regulation: Enhancing Stability and Protecting Consumers*, which she coedited. The book examines the problems with the United States' current financial regulation regime (including the Dodd-Frank Act) and offers alternative policies that rely less on a centralized regulation and more on market discipline. David's blog: http://macromarketmusings.blogspot.com/ Hester's Mercatus profile: https://www.mercatus.org/hester-peirce David's Twitter: @davidbeckworth Hester's Twitter: @HesterPeirce *Reframing Financial Regulation...
2017-02-2055 min
Conversations with TylerJhumpa Lahiri on Writing, Translation, and Crossing Between Cultures (Live at Mason)Author, teacher, and translator Jhumpa Lahiri joins Tyler for a conversation on identity, Rhode Island, writing as problem solving, reading across languages, the badness of book covers, Elena Ferrante, Bengali culture, the magic of Calcutta, Italian authors, Indian classical music, architectural influences, and much more. Read a full transcript enhanced with helpful links, or watch the full video. Other ways to connect Follow us on Twitter and Instagram Follow Tyler on Twitter Email us: cowenconvos@mercatus.gmu.edu Subscribe at our newsletter page to have the latest Conversations with Tyler news sent straight to your inbox
2017-01-111h 26
Conversations with TylerJoseph Henrich on WEIRD Societies and Life Among Two Strange Tribes (Live at Mason)To anthropologist Joseph Henrich, intelligence is overrated. Social learning, and its ability to influence biological evolution over time, is what really sets our species apart. He joined Tyler for a conversation on his work on cultural evolution, as well as his life among different tribes (academic and otherwise), Star Trek, big gods, small gods, China's missing industrial revolution, the merits of coconut milk, the Flynn effect, American exceptionalism, and why he wants to travel in time to 6th-century Kent. Read a full transcript enhanced with helpful links, or watch the full video. Other ways to co...
2016-12-141h 25
Macro Musings with David Beckworth31 – Mark Koyama on the Macroeconomics of Ancient RomeMark Koyama is an Assistant Professor of Economics at George Mason University and a Senior Fellow at George Mason University's Mercatus Center. He joins the show to discuss his research on the economic history of ancient Rome from the rise of the Roman Republic to the transition to the Roman Empire to the Empire's eventual fall. David's blog: http://macromarketmusings.blogspot.com/ Mark's Medium page: https://medium.com/@MarkKoyama Mark's GMU profile: http://economics.gmu.edu/people/mkoyama2 David's Twitter: @DavidBeckworth Mark's Twitter: @MarkKoyama Related links: "The Roman Market Economy" by Peter Temin (2012, Princeton University Press) http://press.princeton.edu...
2016-11-071h 02
Conversations with TylerSteven Pinker on Language, Reason, and the Future of Violence (Live at Mason)Steven Pinker has spent an entire academic career thinking deeply about language, cognition, and human nature. Driving it all, he says, is an Enlightenment belief that the world is intelligible, science can progress, and through rational inquiry we can better understand ourselves. He recently joined Tyler for a conversation not only on the power of reason, but also the economics of irrational verbs, whether violence will continue to decline, behavioral economics, existential threats, the merits of aerobic exercise, photography, group selection, Fermi's paradox, Noam Chomsky, universal grammar, free will, the Ed Sullivan show, and why people underrate...
2016-11-021h 26
Conversations with TylerCass Sunstein on Judicial Minimalism, the Supreme Court, and Star Wars (Live at Mason)Cass Sunstein joins Tyler Cowen for a conversation on judicial minimalism, Bob Dylan's best album, the metaphysics of nudging, Byatt's Possession, the ideal size of the Supreme Court, Hayek, why people should choose their own path, the benefits of a banned products store, James Joyce, and, oh yeah, Star Wars. Read a full transcript enhanced with helpful links, or watch the full video. Other ways to connect Follow us on Twitter and Instagram Follow Tyler on Twitter Follow Cass on Twitter Email us: cowenconvos@mercatus.gmu.edu Subscribe at our newsletter page to have the latest...
2016-06-221h 17
Conversations with TylerCamille Paglia on her Lifestyle of Observation (Live at Mason)Camille Paglia joins Tyler Cowen for a conversation on the brilliance of Bowie, lamb vindaloo, her lifestyle of observation, why writers need real jobs, Star Wars, Harold Bloom, Amelia Earhart, Edmund Spenser, Brazil, why she is most definitely not a cultural conservative, and much more. Read a full transcript enhanced with helpful links, or watch the full video. Other ways to connect Follow us on Twitter and Instagram Follow Tyler on Twitter Email us: cowenconvos@mercatus.gmu.edu Subscribe at our newsletter page to have the latest Conversations with Tyler news sent straight to your inbox
2016-04-251h 26
Conversations with TylerNate Silver on the Supreme Court and the Underrated Stat for Finding Good Food (Live at Mason)Nate Silver joins Tyler Cowen for a conversation on data, forecasting, My Bloody Valentine, the social value of gambling, Donald Trump and the presidential field, vacation advice, Supreme Court picks, the wisdom of Björk, and the most underrated statistic for finding good food. Read a full transcript enhanced with helpful links, or watch the full video. Other ways to connect Follow us on Twitter and Instagram Follow Tyler on Twitter Follow Nate on Twitter Email us: cowenconvos@mercatus.gmu.edu Subscribe at our newsletter page to have the latest Conversations with Tyler news sent straig...
2016-02-231h 21
Conversations with TylerKareem Abdul-Jabbar on Fighting Bruce Lee, Growing Up in Harlem, and Basketball (Live at Mason)Kareem Abdul-Jabbar joins Tyler Cowen for a conversation on segregation, Islam, Harlem vs. LA, Earl Manigault, jazz, fighting Bruce Lee, Kareem's conservatism, dancing with Thelonious Monk, and why no one today can shoot a skyhook. Read a full transcript enhanced with helpful links, or watch the full video. Other ways to connect Follow us on Twitter and Instagram Follow Tyler on Twitter Follow Kareem on Twitter Email us: cowenconvos@mercatus.gmu.edu Subscribe at our newsletter page to have the latest Conversations with Tyler news sent straight to your inbox.
2016-02-021h 22
Conversations with TylerCliff Asness on Comics and Why Never to Share a Gym with Cirque du Soleil (Live at Mason)Tyler and investment strategist Cliff Asness discuss momentum and value investing strategies, disagreeing with Eugene Fama, Marvel vs. DC, the inscrutability of risk, high frequency trading, the economics of Ayn Rand, bubble logic, and why never to share a gym with Cirque du Soleil. Read a full transcript enhanced with helpful links, or watch the full video. Other ways to connect Follow us on Twitter and Instagram Follow Tyler on Twitter Email us: cowenconvos@mercatus.gmu.edu Subscribe at our newsletter page to have the latest Conversations with Tyler news sent straight to your inbox.
2015-11-181h 22
Conversations with TylerLuigi Zingales on Italy, Google and Conglomeration, and Donald Trump (Live at Mason)In the third event of this series, Tyler and Luigi Zingales discuss Italy, Donald Trump, Antonio Gramsci, Google and conglomeration, Luchino Visconti, Starbucks, and the surprisingly high productivity of Italian cafés. Read a full transcript enhanced with helpful links, or watch the full video. Other ways to connect Follow us on Twitter and Instagram Follow Tyler on Twitter Email us: cowenconvos@mercatus.gmu.edu Subscribe at our newsletter page to have the latest Conversations with Tyler news sent straight to your inbox.
2015-09-161h 16
Conversations with TylerJeffrey Sachs on Charter Cities and How to Reform Graduate Economics Education (Live at Mason)Tyler Cowen and Jeffrey Sachs discuss the resource curse, why Russia failed and Poland succeeded, charter cities, Sach's China optimism, JFK, Paul Rosenstein-Rodan, whether Africa will be able to overcome the middle income trap, Paul Krugman, Sach's favorite novel, premature deindustrialization, and how to reform graduate economics education. Read a full transcript enhanced with helpful links, or watch the full video. Other ways to connect Follow us on Twitter and Instagram Follow Tyler on Twitter Follow Jeff on Twitter Email us: cowenconvos@mercatus.gmu.edu Subscribe at our newsletter page to have the latest Conversati...
2015-03-311h 32
Conversations with TylerPeter Thiel on Stagnation, Innovation, and What Not to Call your Company (Live at Mason)Peter Thiel and Tyler Cowen, both New York Times bestselling authors, are among today's top global thought leaders and influential innovators. Listen as these two engage in a serious dialogue on the ideas and policies that will shape the future of innovation and progress in the coming years and decades. Peter Thiel is among the most impressive innovators of the past two decades. As co-founder of Paypal and seed-funder for Facebook, Thiel has been instrumental in the conception and growth of some of today's most entrepreneurial and innovative companies. In his latest best-selling book, Zero to One...
2015-03-251h 20