Economics Explored Price controls to fight inflation a bad idea + infrastructure lessons from POTUS 21 Chester Arthur w/ Larry Reed - EP125
Price controls are being suggested by some commentators as a way to fight inflation. But, as Lawrence W. Reed, President Emeritus of the Foundation for Economic Education explains, price controls would be a really bad idea. Larry also chats with show host Gene Tunny about whether Jesus was a socialist, why banks and the state should be kept separate, and why President Biden would benefit from lessons on infrastructure from the 21st President Chester A. Arthur.
About this episode’s guest - Lawrence W. Reed
Lawrence W. (“Larry”) Reed became President of the Foundation for Economic Education (FEE) in 2008 after serving as chairman of its board of trustees in the 1990s and both writing and speaking for FEE since the late 1970s. He previously served for 21 years as President of the Mackinac Center for Public Policy in Midland, Michigan (1987-2008). He also taught economics full-time from 1977 to 1984 at Northwood University in Michigan and chaired its department of economics from 1982 to 1984.
In May 2019, he retired to the role of President Emeritus at FEE and assumed the titles of Humphreys Family Senior Fellow, and Ron Manners Global Ambassador for Liberty.
He holds a B.A. in economics from Grove City College (1975) and an M.A. degree in history from Slippery Rock State University (1978), both in Pennsylvania. He holds two honorary doctorates, one from Central Michigan University (public administration, 1993) and Northwood University (laws, 2008).
Reed has authored nearly 2,000 columns and articles in newspapers, magazines and journals in the United States and abroad. His writings have appeared in The Wall Street Journal, The Washington Examiner, Christian Science Monitor, Intellectual Takeout, USA Today, Baltimore Sun, The Epoch Times, Detroit News and Detroit Free Press, among many others. He has authored or coauthored eight books, the most recent being Was Jesus a Socialist? (a major expansion in 2020 of an earlier essay) and Real Heroes: Inspiring True Stories of Courage, Character and Conviction. Additionally, he co-authored and edited five e-Books. See the “Books” section of this web site for more info. He is frequently interviewed on radio talk shows and has appeared as a guest on numerous television programs.
Links relevant to the conversation
Larry’s article “Price controls: killing the messenger”:
https://elamerican.com/price-controls-killing-the-messenger/
Larry’s article “Why I wish we could put Chester Arthur and Joe Biden in a room together to talk infrastructure spending”:
Larry’s article “The World’s Oldest Republic Reveals the Secret to Peace and Prosperity”:
https://fee.org/articles/the-world-s-oldest-republic-reveals-the-secret-to-peace-and-prosperity/
Larry’s article “Why the Separation of Bank and State Is so Important”:
https://fee.org/articles/why-the-separation-of-bank-and-state-is-so-important/
Leonard E. Read’s article “I, Pencil”:
https://fee.org/resources/i-pencil/
Article on “Is It Wrong for Christians to Raise Rent on Tenants? Dave Ramsey Sparks Controversy With His Answer”:
The parable of the vineyard workers: https://www.bbc.co.uk/bitesize/guides/zd76rj6/revision/5
Thanks to the show’s audio engineer Josh Crotts for his assistance in producing the episode.
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