Words & Numbers

There 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’s episode of Words & Numbers. Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers  Quick hits From janitor to Executive Vice-President https://www.cnbc.com/2018/03/27/a-janitor-invented-flamin-hot-cheetos-and-became-a-pepsico-exec.html Lost wallets experiment https://www.latimes.com/science/la-sci-people-are-honest-lost-wallets-experiment-20190620-story.html Foolishness of the week Manufacturing

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: Tulsi Gabbard https://www.goodnewsnetwork.org/congresswoman-used-toffee-to-unite-republicans-and-democrats/ People spending more on the Internet than at restaurants https://www.bloomberg.com/news/articles/2019-06-15/americans-now-spend-more-at-internet-stores-than-restaurants Foolishness of the week: O.J. Simpson “has a little getting even to do” https://www.vanityfair.com/style/2019/06/oj-simpson-twitter-has-a-little-getting-ev

As 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 Quick hits Ladybugs: https://www.usnews.com/news/national-news/articles/2019-06-06/cloud-of-ladybugs-in-california-so-large-it-appears-on-weather-radar Influencer can’t sell 26 shirts: https://www.indy100.com/article/instagram-influencer-arii-t-shirt-sales-followers-fail-twitter-response-8936836 Foolishness of the week Over-the-counter birth control: https://www.livescience.com/24940-birth-control-pill-over-the-counter.html   Topic of the w

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 Spelling Bee winners Foolishness of the week UBI could solve childhood obesity Topic of the week: Ambivalence Join the conversation Words & Numbers Backstage Antony Davies on Twitter James R. Harrigan on Twitter Let us know what you think at: wordsandnumberspodcast@gmail.com Show your support for Words & Numbers at Patreon Learn more about your ad choices. Visit podcastchoices.com/adchoices

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 more often. Come to FEEcon 2019! Show Notes: Artificial intelligence learns to spot cancer Employment changes over the past century Sanders says that teacher salaries should start at $60,000 Foolishness of the week MSNBC asks political candidate how MSNBC can do better for him Topic of the week: Impeachment How does impeachment work? Join the conversation Words & Numbers Backstage Antony Davies on Twitter James R. Harrigan on

If 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 questions Join the conversation: Words & Numbers Backstage Antony Davies on Twitter James R. Harrigan on Twitter Let us know what you think at: wordsandnumberspodcast@gmail.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

Americans, 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 bills in this week’s episode of Words & Numbers. Come to FEEcon 2019! Show Notes: Amazon hiring robots $6 trillion war Foolishness of the week: Limiting credit card interest rates Topic of the week: Good debt and bad debt: Household debt Join the conversation: Words & Numbers Backstage Antony Davies on Twitter James R. Harrigan on Twitter Let us know what you think at: wordsandnumberspodcast@gmail.com Learn more about your ad choices. Visit p

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 glass and steel buildings Scientists discover how to convert blood to Type O Foolishness of the week: Treasury: US may have to stop borrowing Topic of the week: Taxes Amazon 1 Amazon 2 Join the conversation: Words & Numbers Backstage Antony Davies on Twitter James R. Harrigan on Twitter Let us know what you think at wordsandnumberspodcast@gmail.com Thought Experiment: Should the government tax buyers or sellers? Consider the following three scenarios.

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 violates Fourth Amendment Phone surveillance Foolishness of the week Williams College is afraid of free speech Tuition at Williams College Tuition at University of Massachusetts Topic of the week: Free stuff is too good to be true Free college too good to be true Constitutional concerns about a wealth tax Wealth tax Join the conversation Words & Numbers Backstage Antony Davies on Twitter James R. Harrigan on Twitter Let us know what you think at:

Many 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:  Nuclear fusion Artificial intelligence Cancer cure Longevity gene Cure for bubble boy disease Brian Lamb retiring Foolishness of the week: San Francisco: Poop in the streets Washington DC: Homelessness Seattle is dying Topic of the week: Silencing Dissent Donald Boudreaux Donald Boudreaux on Brett Kavanaugh and GMU Join the conversation: Words & Numbers Backstage Antony Davies on Twitter James R. Harrigan on Twitter An

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 Tourism and Chernobyl Foolishness of the week: Illinois to raise smoking age to 21 Florida town makes it illegal to grow vegetables State of Florida overrules Florida town Topic of the week: Blood plasma sales: Peter Jaworski Letter to Senate of Canada regarding the ban on blood plasma sales Canada needs blood plasma We should pay for blood plasma donations Bans on blood plasma sales 1 Bans on blood plasma sales 2 Don

Wage 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 tickets to FEEcon 2019! Show Notes: 13 year old buys his mother a car  Cancer vaccine Foolishness of the week Illinois to raise smoking age to 21 Florida town makes it illegal to grow vegetables State of Florida overrules Florida town Topic of the week: Social Contract Nonsense (Part 2) Households by race and income (1967-2017) Income by gender (1960-2017) Hate crime statistics Join the conversation Words & Numbers Backstage Antony Davies on Twitter James

Have 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 in grocery stores FEEcon VIP Giveaway https://info.fee.org/wordsandnumbers Foolishness of the week Special Olympics 1 Special Olympics 2 Topic of the week: Social Contract Nonsense (Part 1) Locke’s Social Contract Join the conversation Words & Numbers Backstage Antony Davies on Twitter James R. Harrigan on Twitter Antony Davies on Minds.com James R. Harrigan on Minds.com Let us know what you think at wordsandnumberspodcast@gmail.com Learn m

  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 Electoral College and how it works. Show Notes: Adidas making sneakers out of waste plastic China stops taking the world’s trash No place for US recyclables Nuclear energy better than renewables Foolishness of the week Police shoot teachers Milgram experiment Topic of the week Electoral College Contract Clause Federalist 68 Join the conversation Words & Numbers Backstage Antony

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 and discuss the fates of tech products like Netscape and Microsoft’s Internet Explorer. Show Notes: Buying your way into college New York City wants to ban “unfair” firings Foolishness of the week Missouri wants to require residents to own AR-15s Topic of the week Elizabeth Warren wants to break up Facebook Join the conversation Antony Davies on Twitter James R. Har

  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 improvements in worldwide wealth and search for the “Goldilocks Zone” of government intervention. Show Notes: Measles outbreak at Midway airport Gap, JC Penny, Foot Locker closures Montgomery Ward Foolishness of the week Sanders: Government can’t go too far Topic of the week Where did Alexandria Ocasio-Cortez get her sweet potatoes? World median income Are you a 1-percenter? Donald Boudreaux on insider tra

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. Show Notes: Male-only draft unconstitutional Humanity’s backup plan Foolishness of the week AOC says people shouldn’t reproduce Topic of the week Mutual aid societies Tontine insurance David Beito Join the conversation Antony Davies on Twitter James R. Harrigan on Twitter Antony Davies on Minds.com James R. Harrigan on Minds.com Words & Numbers Backstage Let us kn

This 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 following, and Warren, James, and Antony discuss the important points on this winding theory and more. Show Notes: People killed in armed conflicts People killed by mosquitoes Genetically modified mosquitoes Foolishness of the week TSA smuggling ring Topic of the week Modern Monetary Theory Warren Mosler Join the conversation Antony Davies on Twitter James R

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 Amazon paid no federal taxes Foolishness of the week Amazon took its ball and went home Topic of the week Federal employment discrimination laws Join the conversation Antony Davies on Twitter James R. Harrigan on Twitter Antony Davies on Minds.com James R. Harrigan on Minds.com Words & Numbers Backstage Let us know what you think at: wordsandnumberspodcast@gmail.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

The 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 Redditors are kind to a person in need Hawaii tries to ban smoking 1 Hawaii tries to ban smoking 2 Foolishness of the week Green New Deal Resolution Topic of the week Elizabeth Warren’s wealth tax plan How an income tax on the rich expanded to be a tax on everyone Join the conversation Antony Davies on Twitter James R. Harrigan on Twitter Antony Davies on Minds.com James R. Harrigan on Minds.com Words & Numbers Backstage L