Words & Numbers

Many people share an intuition that “excess” profits are a sign of something having been stolen from labor. Karl Marx shared this intuition and formalized it in his writings on the surplus value of labor. Foolishness of the Week: 05:48 Main episode: 11:55 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=iPkJH6BT7dM https://studyfinds.org/childless-millennials-parents/ Foolishness of the Week https://www.theguardian.com/business/2024/jan/19/us-inflation-caused-by-corporate-profits Topic of the Week https://fred.stlouisfed.org/series/GFDEBTN 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 on YouTube https://www.youtube.com/antonydavies Let

For whom does the corporation exist: investors, workers, customers, the community? Economists tend to answer, "investors." That's not to say that workers, customers, and the community aren't important, but rather that the corporation exists to further the interests of the investors. Where the interests of the workers, customers, and community coincide with those of investors, the corporation also cares about those groups. But where their interests conflict with those of investors, the interests of investors take precedence. That's the principle of "shareholder value." The principle of "stakeholder value" holds that the corporation should consider the interests of workers, consumers, and the community even when they conflict with the interests of the investors. Foolishness of the Week: 08:15 Main episode: 12:29 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://w

Economic "degrowth" seems to be the new socialism. Like the old, it promises all manner of wonderful things, from equality to a cleaner environment. And like the old, it will deliver nothing but misery. Foolishness of the Week: 10:24 Main episode: 13:35 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.ambito.com/politica/ley-omnibus-el-gobierno-busca-que-ya-no-se-use-la-palabra-gratis-prestacion-estatales-n5908723 https://constitution.congress.gov/browse/essay/artI-S6-C1-3-1/ALDE_00013300/ Foolishness of the Week https://www.cnn.com/2024/01/06/politics/lloyd-austin-hospitalization-officials/index.html/ https://www.nbcnews.com/news/us-news/secretary-defense-lloyd-austin-hospitalized-middle-east-missions-rcna132612/ Topic of the Week https://theconversation.com/degrowth-slowing-down-rich-economi

Intuitively, people understand the value of time. We consider it every time we decide to put off something we want now for something better later. Psychologists call it, “delayed gratification.” But when we think about things like banks and landlords and Wall Street, we fail to see the time value of money driving people’s behaviors. Foolishness of the Week: 14:15 Main episode: 18:13 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://nutritionpair.com/ www.wfla.com/news/dave-chappelle-ends-show-early-walks-off-stage-at-hard-rock-live/ Foolishness of the Week www.wsj.com/articles/yellen-biden-economy-inflation-prices-dc9902f2 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

Colleges and universities, for years now self-proclaimed bastions of “safe spaces,” are allowing some students to express anti Semitism and call for genocide. Should colleges allow this in the name of free speech, or should it disallow it in the name of protecting students? Congressional hearings into prominent universities appear to reveal administrators picking a third and worse option: selectively allowing or disallowing free speech depending on at whom the speech is directed. Foolishness of the Week: 08:15 Main episode: 11:36 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.usatoday.com/story/news/nation/2023/12/23/biden-pardon-state-level-marijuana/72015078007/ Foolishness of the Week https://www.msn.com/en-us/health/nutrition/sorry-but-potatoes-may-soon-no-longer-be-considered-a-vegetable/ar-AA

We respond to an article that claims that “the good life” has become so expensive as to be beyond the reach of most Americans. We conclude that what is beyond the reach of at least some Americans is the ability to perform simple math. Foolishness of the Week: 05:33 Main episode: 09:16 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.msn.com/en-us/travel/other/tsa-self-screening-is-the-next-big-step-for-airport-security/ar-AA1lH2XJ  Foolishness of the Week https://www.cbc.ca/news/politics/electric-vehicle-ev-guilbeault-1.7061381 Topic of the Week https://www.cbsnews.com/news/american-dream-cost-3-4-million-house-college-cars-retirement/ https://fred.stlouisfed.org/series/MSPUS Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ More James at Smoke & Stories https://www.yo

More frequently, politicians are talking about a wealth tax. As with the income tax back in the early 1900s, politicians promise that the tax will only be one or two percent and will only apply to the rich. But, as with the income tax, if politicians can convince voters to allow the government to impose a tax on wealth, it will be less than a decade before that new tax hits the middle class. Foolishness of the Week: 15:15 Main episode: 19:45 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://robertreich.substack.com/p/ceo-pay-is-out-of-control https://www.bls.gov/oes/current/oes111011.htm https://www.reuters.com/business/ceo-pay-averaged-167-million-last-year-sp-500-companies-decline-2023-08-03/ Foolishness of the Week https://www.nbcnews.com/news/us-news/sports-illustrated-publisher-fires-ceo-latest-e

A new outbreak of a communicable disease in China has officials there calling for masks and social distancing. This week, we talk about what lessons we learned from the last go around and how people might respond in this country to a reprise of social distancing and masking.  Foolishness of the Week: 07:23 Main episode: 11:23 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://thehill.com/opinion/education/4288044-oregon-just-dropped-all-graduation-standards-failing-all-of-its-students-in-the-name-of-equity/ https://www.wsj.com/us-news/law/one-supreme-court-case-could-mess-up-chunks-of-the-tax-code-680a9ba6 Foolishness of the Week https://twitter.com/POTUS/status/1730211325383434419 https://nypost.com/2023/03/20/bidens-twitter-account-fact-checked-for-dubious-claim-about-the-taxes-billionaires-pay/ Topi

We recently moderated the South Carolina Libertarian Party’s Presidential debate. We had a great time and the candidates were serious people. But the contrast between our excellent experience in South Carolina and Libertarian party hijinx we’ve seen in the past spurred this conversation. Is the Libertarian Party a political party or a philosophical society? The latter’s goal is to delve deeply into important questions about the economy and polity. The former’s goal is to win elections. Foolishness of the Week: 08:37 Main episode: 14:05 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.cnbc.com/2023/11/25/black-friday-shoppers-spent-a-record-9point8-billion-in-us-online-sales-up-7point5percent-from-last-year.html Foolishness of the Week https://twitter.com/senwarren/status/1728810999355175212?s=61&t=8n

Three former professors discuss the fraud that universities are perpetrating on students and taxpayers.. Foolishness of the Week: 11:59 Main episode: 15:20 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 https://www.aier.org/people/phillip-w-magness/ 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 on YouTube https://www.youtube.com/antonydavies Let Us Know What You Think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitter https://twitter.com/JamesRHarrigan #AntonyDavies #JamesRHarrigan #WordsAndNumbers #economics #government #politics #policy #libertarian #classicalliberal #podcast #educati

Over ten years ago, we predicted that, as the Federal government approached insolvency, the Federal Reserve would start printing money to monetize the government spending, and that that would give us sustained inflation in the 5% plus range. We saw the 5% plus inflation and, as the Fed fought it, we then saw interest rates skyrocket. Trillion dollar plus deficits are the new normal, Social Security is within a decade of becoming insolvent, and that will mean even more borrowing. It appears that people are just now becoming aware of the problem. Unfortunately, it's almost too late to do anything about it. Foolishness of the Week: 07:46 Main episode: 14:20 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/antonydavies https://www.marketwatch.com/story/moodys-cuts-outlook-on-u-s-credit-rating-t

An elderly couple, an antiques dealer, and an African mask spark a conversation about fraud, fairness, and value. Foolishness of the Week: 11:00 Main episode: 13:14 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.kpbs.org/news/local/2023/11/02/california-regulators-put-off-a-decision-on-solar-rules-again https://www.bbc.com/news/health-67295526 Foolishness of the Week https://www.nationalreview.com/2023/11/canadian-food-prices-passing-the-depreciated-buck/ Topic of the Week https://www.theguardian.com/world/2023/oct/31/french-couple-go-to-court-for-share-of-rare-african-masks-sale-price 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 on YouTube https://ww

Composer 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 of the Week Josh Nichols https://www.windrep.org/Joshua_Nichols CACI https://thecaci.org/members-and-fellows/ Josh's Compositionshttps://www.youtube.com/playlist?list=PLLURdjiljIuudGIa3yE9vx3RjxMzdQxMJ Metropolis https://www.summitrecords.com/release/metropolis-the-piano-music-of-joshua-nichols/ Amazon Link to CD https://a.co/d/1SThFip Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ More James at Smoke & Stories http

Fans are applauding Taylor Swift for contributing billions to the country’s GDP. Yet Taylor Swift (three-quarters of a billionaire) is doing less for the economy than what many billionaires, who we vilify, do. Why do we applaud one business person and vilify the other? Foolishness of the week: 09:33 Main episode: 14:24 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.express.co.uk/news/world/1826637/uss-gerald-r-ford-steak-lobster-dinner-israel-hamas-middle-east Foolishness of the Week https://amp.theguardian.com/cities/2023/oct/11/culdesac-car-free-neighborhood-tempe-arizona Topic of the Week https://www.forbes.com/sites/hughmcintyre/2023/10/18/taylor-swifts-movie-outsold-the-next-50-top-grossing-movies-combined/?sh=6e90fc774e67 https://www.statista.com/chart/31033/key-figures-from-swifts-the-e

More than a decade ago, experts decided to change how students are taught to read. Without testing whether the new method worked or, apparently, even checking in with actual teachers, the experts forced the change. What resulted was a generation of children with reduced reading abilities. The experts have now reversed course. People make mistakes like this all the time. When the people who are making the decisions are the same people who live with the consequences of the decisions, errors get detected and fixed relatively quickly. There's nothing wrong with experts weighing in on the best way to do things. But when those experts are allowed to impose their wills on others, the people who live with the consequences are no longer the people making the decisions. What often results is decades of living with "solutions" that do more harm than good. Main episode: 06:47 Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com See More Ant and James! http://www.wordsandnumbers.org Sh

From time to time, listeners write to tell us what we’ve gotten wrong. This week, we go back through predictions and analyses we’ve made that have turned out to be wrong. Main episode: 12:09 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 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 on YouTube https://www.youtube.com/antonydavies Let Us Know What You Think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitter https://twitter.com/JamesRHarrigan #AntonyDavies #JamesRHarrigan #WordsAndNumbers #economics #government #politics #policy #libertarian #classicalliberal #podcast #educational   Learn more about your ad

Attorney 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 https://www.goodnewsnetwork.org/for-first-time-water-produced-by-sunlight-to-be-even-cheaper-than-tap-water/ https://www.axios.com/2023/10/01/student-loan-payments-october-2023 Foolishness of the Week https://nbcmontana.com/news/connect-to-congress/meghan-markle-considering-run-for-sen-dianne-feinsteins-senate-seat-sources-say-duke-and-duchess-of-sussex-house-of-windsor-royal-family-prince-harry-gavin-newsom-california-los-angeles-family-leave-gun-safety-politics

Robert Reich (not an economist) recorded a video recently in which he claims that the rich are not paying their fair share of Social Security. But the calculations he uses to prove his point are fundamentally flawed. Foolishness of the week: 09:54 Main episode: 12:57 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.goodnewsnetwork.org/nasa-solid-state-battery-development-research-breakthrough/ https://www.cnn.com/2023/09/25/us/powerball-lottery-jackpot-millions-monday/index.html Foolishness of the Week https://www.cnn.com/2023/09/22/politics/fact-check-biden-every-mass-shooting/index.html https://abcnews.go.com/US/mass-shootings-days-2023-database-shows/story?id=96609874 Topic of the Week https://www.youtube.com/watch?v=GfZuB7XSFys Words & Numbers Backstage https://www.facebook.com/groups/1300

Economist Bryan McCannon gives us two things to think about this week: his research into whether covid mask mandates saved lives, and that journal editors were afraid to publish his results. Foolishness of the week: 08:04 Main episode: 11:49 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://abcnews.go.com/US/wireStory/california-fast-food-workers-20-minimum-wage-new-103099258 https://worldpopulationreview.com/state-rankings/cost-of-living-index-by-state https://apnews.com/article/climate-oil-gas-california-lawsuit-newsom-212d6d9873352f28094173a1974e3d90 Foolishness of the Week https://www.wbez.org/stories/how-a-city-run-grocery-store-in-chicago-could-work/91365f98-25de-4cd5-80e9-eae3fa627610 Topic of the Week Mask mandates https://sites.google.com/site/bryancmccannon Words & Numbers Backstage http

Burning Man, a modern day Woodstock, occurs each year in the desert. This year brought 87,000 people together to live, if only for a few days, in a cooperative nirvana. We take some time to look at the Burning Man principles for living and ask whether they make any sense. Foolishness of the week: 05:21 Main episode: 11:44 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.iflscience.com/linguists-speak-of-a-new-language-dialect-evolving-in-the-us-70586 Foolishness of the Week https://sourcenm.com/briefs/n-m-governor-declares-state-of-emergency-over-gun-violence/ https://ibis.doh.nm.gov/indicator/view/DthRateLdgCause.Year.Cause.html https://everystat.org/wp-content/uploads/2021/02/Gun-Violence-in-New-Mexico-2.9.2021.pdf Topic of the Week https://survival.burningman.org/culture/the-10-principles/