Words & Numbers

In this episode, we begin with the strange world of high-end audio, from banana wire tests to quarter-million-dollar stereo systems, and ask whether diminishing returns eventually overtake objective performance. We then react to Barack Obama’s comments about aliens before moving to our Foolishness of the Week: Australia’s $40 cigarette packs and the predictable rise of black markets and bootlegging that follows heavy taxation. From there, we turn to election law and voting rights, examining who actually has the constitutional authority to regulate elections, what the SAVE Act proposes regarding proof of citizenship, whether a president can alter voting rules by executive order, and how voter ID laws intersect with legitimacy and public trust. We also discuss gerrymandering, the structural incentives of the two-party system, and a story from a group home that raises deeper questions about civic participation and what it really means to be qualified to vote. 00:00 Introduction and Overview 00:30 Audiophile

In this episode, we discuss the Netherlands’ proposed 36% tax on unrealized capital gains, unpacking what it means to tax wealth that exists only on paper and how such a policy could force asset sales, distort investment behavior, and reshape long-term incentives for savers and entrepreneurs. For our Foolishness of the Week, we turn to North Carolina, where a local official distinguished himself as perhaps the dumbest sheriff in America. We then welcome Dave Greene for an extended conversation on health insurance, exploring how risk pooling actually works, why medical pricing feels arbitrary, how regulation and the Affordable Care Act altered incentives for insurers and patients, and why price opacity and third-party payment continue to drive costs higher across the system. 00:00 Introduction and Overview 00:31 Words and Numbers Backstage & Listener Shoutouts 04:13 The Netherlands’ 36% Tax on Unrealized Gains 08:20 Who Can Afford Risk Under a Wealth-Style Tax? 12:24 Florida Snow & Strange Weather 13:3

In this episode, we discuss Ireland’s decision to make its basic income program for artists permanent and what that means for government-funded creativity, cultural value, and incentives. We examine the politics of the Super Bowl halftime show, rising ticket prices, and what cultural events reveal about tribal identity and public signaling. We then explore Texas redistricting, California’s response, and the Supreme Court’s potential role, along with broader debates over federal control of elections, absentee voting, voter ID laws, and lingering claims about the 2020 election. We also consider what legitimacy means in a constitutional republic, why “not my president” rhetoric cuts both ways, and whether secession talk solves anything. We close with a nearly catastrophic public restroom fiasco in Rome. 00:00 Introduction and Overview 00:42 Happy Bro Day! 01:57 Ireland’s Basic Income for Artists Becomes Permanent 03:21 Do Art Subsidies Create Culture or Dependency? 05:16 Super Bowl Halftime Politics: Bad

In this episode, we discuss the United Kingdom’s move toward judge-only trials and what the erosion of jury trials means for due process and limits on state power. We examine how plea bargaining, prosecutorial incentives, and presumed guilt have reshaped the criminal justice system, along with the role of body cameras and public trust in law enforcement. We also explore federal enforcement authority, debates over the Second Amendment and constitutional carry, and why gun rights are often treated differently from other civil liberties. The conversation then turns to housing, where we break down competing estimates of the housing shortage, rising prices, zoning restrictions, rent control, and political attempts to manage prices rather than supply. We close by looking at why prices function as signals rather than levers, and how productive disagreement is essential to a healthy society. 00:00 Introduction and Overview 00:27 UK Moves Toward Judge-Only Trials 01:46 Jury Nullification and the Last Check on Sta

In this episode, we explore the strange signals people use to interpret global events, from Pentagon pizza orders and satellite data to the Big Mac Index and other unconventional measures of economic reality. We examine the decline of Google search, the rise of AI-powered alternatives, and why new tools are changing how people actually find information. For the “foolishness of the week”, we detail an unfortunate incident involving a piece of World War I artillery, before turning to a broader cultural debate about nostalgia for the 1950s. With guest Andrew Heaton, we unpack myths about work, gender roles, housing, healthcare, and prosperity, comparing mid-century life to modern standards of living. Along the way, we discuss food abundance, technological progress, wage compensation, inequality, and whether people genuinely want to return to the past or simply romanticize it from a distance. 00:00 Introduction and Overview 00:28 Pentagon Pizza Orders and “Pizza Intelligence” 02:51 Proxy Signals, Satellite D

In this episode, we explore everything from missing teaspoons and land acknowledgments to capital punishment and medieval economic thinking. We examine what everyday shortages reveal about prices and incentives, debate China’s use of executions for online scams, and unpack why symbolic gestures like mandatory land acknowledgments often collapse under scrutiny. We’re also joined by Andrew Heaton, host of The Political Orphanage podcast, to discuss zero-sum thinking, inequality versus poverty, and why so many economic intuitions still haven’t escaped the Dark Ages. Along the way, we look at profit caps, price controls, and the persistent temptation to treat economics like theology rather than systems thinking. 00:00 Introduction and Overview 00:28 Land Acknowledgment 01:30 The Curious Case of the Disappearing Teaspoons 03:31 What Teaspoons Teach Us About Prices and Resources 06:04 China Executes Online Scammers 08:21 When Capital Punishment Expands Too Far 09:51 Foolishness of the Week: Mandatory Land

In this episode, we examine proposals that would restrict or revoke U.S. citizenship, including the constitutional limits on forced renunciation, dual citizenship, and the government’s authority to define who belongs. We discuss population policy, free movement in Europe, and Supreme Court precedents that constrain state power over individual status. We also break down a sharp drop in the dollar, revisit the failures of mercantilism, and touch on the cultural politics surrounding Bill Belichick and the Hall of Fame. We then turn to firearms, protest, and political hypocrisy, looking closely at gun violence data, international bans, and the selective application of constitutional principles. We close by exploring free speech, due process, religious freedom, and what happens when rights give way to raw power, from domestic politics to authoritarian regimes abroad. 00:00 Introduction and Overview 00:32 The Exclusive Citizenship Act Explained 01:16 Forced Renunciation and Dual Citizenship Risks 02:30 Could

In this episode, we discuss why the right to an attorney remains one of the most important protections in the American legal system, using Gideon v. Wainwright to examine how due process actually functions in practice. We explore the recent surge in gold and silver prices, weighing inflation fears against global instability and market psychology, and consider how Trump’s negotiation style plays out in diplomacy and financial markets. We also examine a new film about Melania Trump, why it misses the larger political moment, and how culture increasingly drifts away from economic reality. We then turn to the so-called Great Wealth Transfer, where we explore how inheritances shape labor markets, housing prices, charitable giving, and long-term economic behavior, along with the unintended consequences that massive shifts in wealth can create for policy, taxation, and inequality. 00:00 Introduction and Overview 00:29 The Story Behind the Right to an Attorney (Gideon v. Wainwright) 03:44 Why Gideon’s Case Still

In this episode, we discuss how artificial intelligence is increasingly blurring the line between assistance and deception, from using AI tools to troubleshoot everyday problems to the growing risks of deepfake images and AI-generated pornography. We examine questions of name, image, and likeness as property, the limits of regulation, and whether government enforcement can realistically keep pace with rapidly evolving technology. We also dive into the foolishness of the week involving the Smithsonian and renewed debates over Trump’s impeachments, before turning to broader political questions about gerrymandering, census data, immigration, and representation. The conversation closes with a look at election denial, political extremism, rising distrust in institutions, and how economic anxiety continues to fuel anger and division across American society. 00:00 Introduction and Overview 00:26 Fixing a Computer with AI Assistance 02:00 Listener Calendar Story and Patreon Banter 03:52 AI, Deepfake Porn, and I

In this episode, we examine the illogic behind TSA security rules and how performative regulation often substitutes for real safety, before turning to the economics of ticket scalping and why attempts to suppress secondary markets routinely backfire. We discuss proposals to cap credit card interest rates, including Donald Trump’s suggested limit, and explore how price controls distort lending, restrict access to credit, and harm the very consumers they are meant to protect. The conversation connects these issues to broader misunderstandings about markets, incentives, and regulation, highlighting how political solutions driven by optics rather than economics tend to produce higher costs, reduced choice, and unintended consequences across everyday life. 00:00 Introduction and Overview 00:26 The Illogic of TSA Rules and Security Theater 03:19 What TSA Bans (and Allows) Makes No Sense 05:47 Why TSA Rules Persist Long After the Threat Is Gone 07:02 Missed Episode Fallout and “Are You Still Alive?” 09:02 Tr

In this episode, we explore what it means to grant legal rights and who ultimately bears the cost when governments expand them, starting with Peru’s decision to recognize rights for stingless bees and moving into a broader discussion of negative versus positive rights. We examine labor shortages in skilled trades, the unintended consequences of vacancy taxes, and common misunderstandings about loans, insurance, and debt. The conversation then turns to credit scores, interest rates, student loans, and moral hazard, including how incentives shape borrowing behavior and higher education choices. Along the way, we connect financial systems to risk pooling and insurance logic, highlighting how policy decisions, incentives, and individual responsibility intersect in everyday economic life. 00:00 Introduction and Overview 00:29 Peru Grants Legal Rights to Stingless Bees 02:40 Negative vs Positive Rights and Who Pays 05:34 Peanut Butter, Welfare Logic, and the Road to Coercion 09:39 Ford Can’t Find Mechanics a

In this episode, we challenge claims about economic stagnation by examining how interest, investing, and long-term saving actually shape wealth and retirement outcomes, including what it takes to reach a million dollars on different income levels. We then turn to public health, discussing the failures of the original food pyramid, the rise of snacking and carbohydrates, and the proper role of government as an information provider rather than an enforcer. In the “foolishness of the week,” we look at New York City’s expanding housing bureaucracy and why rent control continues to worsen affordability. We close with an in-depth discussion of Iran’s nationwide protests, internet shutdowns, water shortages, and the geopolitical consequences of a potential post-theocratic Iran for the Middle East and beyond. 00:00 Introduction and Overview 00:25 The “52 Years to Escape the Middle Class” Myth 02:29 What It Takes to Retire With $1 Million 04:25 Saving on Median vs. Bottom-Income Earnings 06:15 Narratives About

In this episode, we reflect on a rare missed recording and share a series of listener stories that raise broader questions about compassion, responsibility, and civic duty. We examine claims surrounding illegal orders in the military and the role of oaths and institutional accountability before turning to the “foolishness of the week,” including the internet’s ability to amplify extremism and reward outrage. We then shift to why Americans consistently believe the economy is doing worse than the data suggests, exploring consumer sentiment, inflation, wages, housing costs, and the lingering psychological effects of pandemic-era stimulus. We close by discussing housing as both shelter and investment, the realities of rent and mortgage affordability, student loan debt, rising expectations, and why economic anxiety persists even in periods of growth. 00:00 Introduction and Overview 00:31 Missing an Episode for the First Time 02:28 Listener Gift and Firefighter Calendar Story 03:52 A Belated Christmas Story o

In this episode, we discuss public distrust of politicians and the realities behind presidential approval polling before turning to the math of lotteries and why people continue to play despite the odds. We examine Maryland’s proposed reparations commission, including questions of eligibility, funding, legal responsibility, and the practical challenges of tying modern policy to historical injustice. We’re joined by Phil Magness to explore the economic history of slavery, the claim that capitalism was built on slave labor, and why slavery is fundamentally incompatible with free markets. We cover Adam Smith’s opposition to slavery, misconceptions about profit incentives, the global history of forced labor, and the moral and economic failures surrounding emancipation, closing with a broader discussion of capitalism, socialism, and historical accountability. 00:00 Introduction and Overview 00:44 Presidential Approval Ratings and Polling Reality 02:38 Why Americans Have Always Hated Politicians 03:35 Powerba

In this episode, we examine the realities behind universal health care by looking at Canada’s system, wait times, medical tourism, and cases where patients are denied life-saving treatment. We discuss the rise of weight-loss drugs like Ozempic and Wegovy, the economics behind high drug prices, and why “miracle” medications often create new dependencies and unintended costs. We scrutinize airline incivility, declining standards of behavior, and why airlines are reluctant to enforce norms despite growing problems. Phil Magness also joins us to discuss the internal collapse of the Heritage Foundation, the rise of post-liberal conservatism, and the growing influence of figures like Tucker Carlson and Nick Fuentes. We explore tensions within the Republican Party, the appeal of emergency powers on both the left and right, the dangers of mixing religion with state authority, and what these trends mean for the future of American politics. 00:00 Introduction and Overview 00:28 Canadian Health Care and the Myth of

In this episode, we examine what actually counts as a victimless crime and why the term is so often misused, using examples ranging from seatbelt and helmet laws to drugs, prostitution, and software piracy. We discuss how insurance markets price risk more effectively than regulation, and why many so-called crimes are really paperwork violations with no direct victims. We also look at the limits of automation through recent failures in self-driving technology, and highlight the Foolishness of the Week involving ideological monocultures in academia and the incentives that sustain them. The conversation then turns to the main topic of whether there should be an age limit for the presidency, weighing cognitive decline, longevity, institutional incentives, and why existing safeguards like the 25th Amendment rarely function as intended. 00:00 Introduction and Overview 00:29 What Counts as a Victimless Crime? 01:38 Insurance, Risk, and Who Really Pays 04:36 Drugs, Prostitution, and True Victimless Crimes 06:2

In this episode, we look at what happens when artificial intelligence is put in charge of real-world systems, starting with an experiment in automated pricing and what it reveals about incentives, scarcity, and control. We turn to Denmark’s decision to shut down its national postal service, using it to examine the decline of physical mail, environmental tradeoffs, and why government monopolies struggle to compete with private delivery. We highlight the week’s “foolishness,” including the rise of competitive spreadsheet championships, before turning to a broader discussion about inequality. We examine IQ distributions, bell curves, and why inequality is often confused with poverty, exploring the limits of measures like the Gini coefficient, the difference between snapshot and lifetime earnings, and the role of incentives, envy, and value creation. We close by contrasting equality of opportunity with equality of outcome and asking what societies should actually care about when assessing fairness and prosperity.

In this episode, we revisit the debate over restricting social media access for children, responding to listener feedback and examining why parental responsibility alone can’t address the scale of the problem. We discuss proposals for age verification, the risks of digital ID systems, and how privacy and surveillance concerns are often dismissed with the claim that people have “nothing to hide.” We then turn to California’s energy situation, looking at refinery closures, the Jones Act, and why state climate policies have little impact on global emissions while driving higher fuel costs. We examine a lawsuit involving Donald Trump and the BBC, followed by the week’s “foolishness” surrounding the Oscars’ move to YouTube. Our main discussion explores the concept of victimless crime, how outdated laws persist long after society moves on, what entrepreneurship signals about obsolete regulations, and why enforcement-heavy approaches to poverty, drugs, and everyday behavior continue to fail. 00:00 Introduction an

In this episode, we discuss the growing role of humanoid robots in everyday life, why new technologies always reach the wealthy first, and how falling costs eventually make innovation accessible to the middle class. We turn to global efforts to restrict social media access for children, examining the real harms platforms create, why enforcement rarely works, and how questions of consent and freedom apply differently to minors. We highlight the week’s “foolishness,” including exaggerated tariff claims and the political incentives behind economic misinformation, before looking at how public discourse has deteriorated as cruelty and performative outrage become normalized. We then examine California’s accelerating business exodus, focusing on energy companies leaving the state, the consequences of heavy regulation and taxation, the limits of government control over capital-intensive industries, and what these trends reveal about tradeoffs, governance, and long-term economic sustainability. 00:00 Introduction a

In this episode, we look at the story of a young boy who found purpose working for the DC Metro and later became a transportation engineer, and we examine a proposal for the U.S. to screen tourists’ social media accounts before entry, highlighting the logistical and constitutional problems such a system would create. We cover the week’s “foolishness,” including In-N-Out removing order number 67 from its queues and a Montreal lottery winner who chose a disastrous payout option, and discuss what these cases reveal about human judgment and bad incentives. We also explore the Mandela Effect and why memory often fails us. Later, we’re joined by Todd Huntley to talk about U.S. drug interdiction on the high seas, the legal gray zone between warfare and law enforcement, the risks of escalating conflicts with countries like Venezuela, and the constitutional limits on presidential war powers. 00:00 Introduction and Overview 00:30 The DC Metro Kid Who Became an Engineer 02:44 U.S. Plans to Screen Tourists’ Social M