Words & Numbers

Even in the absence of inflation, a dollar in the future is less than a dollar today simply because it exists in the future. Humans have figured out how to use this fact to invent things like mortgages, installment payments, and subscriptions. We talk about the implications of the time value of money, then segue into virtual reality and the future of labor markets, then into the service the rich perform for the rest of us as first adopters. This is what happens when you don’t have a script. Get a 20% discount on the mask not named in the episode by clicking below and using the coupon code wordsandnumbers. https://www.getunmask.com/?ref=8Dgb483n98NjG Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hitshttps://www.usatoday.com/story/news/nation/2022/01/05/maryland-couple-schmidt-baking-company-virginia-i-95/9110543002/ https://wtop.com/virginia/2022/01/uber-rider-stuck-on-i-95-hit-with-600-bill/ Foolishness of the Week https://www.dallasnews.com/news/crime/2022/01/08/houston-teacher-accused-of-locking-son-in-trunk-of-car-to-avoid-covid-19-exposure/ Join the Conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ More James at Smoke & Storieshttps://www.youtube.com/playlist?list=PLjILow4-ZJpBV-NnmSusZJ_vCuzKUJ4Ig Let Us Know What You Think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitterhttps://twitter.com/JamesRHarrigan TAOlFLJq9bgnsgINqcg6 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Goods appear to be randomly missing in stores, and prices seem to be rising. Much of what we're seeing is due to disruptions in the supply chain. This week, we talk with industry insider Mikhail Rasner about what's going on. Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hits https://www.npr.org/2021/12/16/1064855510/kraft-cream-cheese-20-dollar-website https://www.bloomberg.com/news/newsletters/2021-12-10/supply-chain-latest-cream-cheese-is-the-latest-casualty-of-cyberattacks https://www.msn.com/en-us/news/opinion/opinions-with-the-supreme-court-lurching-right-state-courts-offer-liberals-hope/ar-AASaLg5 Foolishness of the Week https://nypost.com/2022/01/02/australian-man-self-immolates-after-ranting-against-covid-vaccines/ Join the Conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ More James at Smoke & Storieshttps://www.youtube.com/playlist?list=PLjILow4-ZJpBV-NnmSusZJ_vCuzKUJ4Ig Let Us Know What You Think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitterhttps://twitter.com/JamesRHarrigan Learn more about your ad choices. Visit podcastchoices.com/adchoices

Phil Magness joins us to discuss critical race theory: what is it, and why is it controversial? Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hits https://www.npr.org/2021/12/16/1064855510/kraft-cream-cheese-20-dollar-website https://www.bloomberg.com/news/newsletters/2021-12-10/supply-chain-latest-cream-cheese-is-the-latest-casualty-of-cyberattacks https://www.msn.com/en-us/news/opinion/opinions-with-the-supreme-court-lurching-right-state-courts-offer-liberals-hope/ar-AASaLg5 Foolishness of the Week https://www.msn.com/en-us/money/companies/fauci-says-domestic-travel-vaccination-rule-should-be-considered/ar-AASbcTj https://www.nytimes.com/live/2021/12/10/world/covid-omicron-vaccines Join the Conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ More James at Smoke & Storieshttps://www.youtube.com/playlist?list=PLjILow4-ZJpBV-NnmSusZJ_vCuzKUJ4Ig Let Us Know What You Think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitterhttps://twitter.com/JamesRHarrigan Learn more about your ad choices. Visit podcastchoices.com/adchoices

We had such good feedback from last week's live tradeoffs episode that we're including the audience Q&A session for this week's episode. Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hits https://www.npr.org/2021/12/18/1063205596/housing-cash-offer-home-buyer-seller https://www.straitstimes.com/world/middle-east/giant-rave-in-saudi-desert-pushes-kingdoms-changing-boundaries Foolishness of the Week https://www.wsj.com/articles/elon-musk-says-he-will-pay-more-than-11-billion-in-taxes-this-year-11640001132 Join the Conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ More James at Smoke & Storieshttps://www.youtube.com/playlist?list=PLjILow4-ZJpBV-NnmSusZJ_vCuzKUJ4Ig Let Us Know What You Think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitterhttps://twitter.com/JamesRHarrigan Learn more about your ad choices. Visit podcastchoices.com/adchoices

What do climate change, the covid lockdowns, taxing billionaires, free college, and free healthcare have in common? In each case, politicians would prefer that voters ignore the reality of tradeoffs. Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hits https://www.mediaite.com/tv/end-of-an-era-chris-wallaces-departure-from-fox-news-sets-off-a-media-and-political-firestorm/ https://www.stuff.co.nz/national/health/coronavirus/127245863/covid19-man-receives-up-to-10-vaccines-in-one-day Join the Conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ More James at Smoke & Storieshttps://www.youtube.com/playlist?list=PLjILow4-ZJpBV-NnmSusZJ_vCuzKUJ4Ig Let Us Know What You Think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitterhttps://twitter.com/JamesRHarrigan   Learn more about your ad choices. Visit podcastchoices.com/adchoices

As events point to the possibility of a second lockdown, we ask what we have learned from the last one.  Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers This Week’s Topichttps://www.cdc.gov/nchs/nvss/vsrr/covid19/excess_deaths.htm https://covid.cdc.gov/covid-data-tracker/#trends_totaldeaths Join the Conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ More James at Smoke & Storieshttps://www.youtube.com/playlist?list=PLjILow4-ZJpBV-NnmSusZJ_vCuzKUJ4Ig Let Us Know What You Think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitterhttps://twitter.com/JamesRHarrigan Learn more about your ad choices. Visit podcastchoices.com/adchoices

In response to record-breaking deficits, politicians, pundits, and concerned voters are discussing new sources of tax revenue. Unfortunately, they often conflate wealth, income, and unrealized capital gains. This week, we clarify some of the confusion. Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers This Week’s Topichttps://taxfoundation.org/publications/state-local-tax-burden-rankings/#Burdens https://fred.stlouisfed.org/series/FYFSD https://fred.stlouisfed.org/series/GNP https://fred.stlouisfed.org/series/FYFR https://www.taxpolicycenter.org/briefing-book/how-do-us-taxes-compare-internationally https://www.census.gov/library/publications/2021/demo/p60-273.html https://www.investopedia.com/how-much-does-health-insurance-cost-4774184 https://ips-dc.org/u-s-billionaire-wealth-surged-by-70-percent-or-2-1-trillion-during-pandemic-theyre-now-worth-a-combined-5-trillion/ https://www.federalreserve.gov/econres/scf/dataviz/scf/chart/ Join the Conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ More James at Smoke & Storieshttps://www.youtube.com/playlist?list=PLjILow4-ZJpBV-NnmSusZJ_vCuzKUJ4Ig Let Us Know What You Think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitterhttps://twitter.com/JamesRHarrigan Learn more about your ad choices. Visit podcastchoices.com/adchoices

This week, we answer listener questions that cover a gamut of topics.   Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hitshttps://www.nytimes.com/2021/10/20/technology/personaltech/iphone-upgrades-cost.html Join the Conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ More James at Smoke & Storieshttps://www.youtube.com/playlist?list=PLjILow4-ZJpBV-NnmSusZJ_vCuzKUJ4Ig Let Us Know What You Think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitterhttps://twitter.com/JamesRHarrigan   Learn more about your ad choices. Visit podcastchoices.com/adchoices

This week, we answer listener questions that cover a gamut of topics. Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hitshttps://www.cbc.ca/radio/asithappens/as-it-happens-the-monday-edition-1.5868846/how-tiktok-users-designed-a-better-pill-bottle-for-people-with-parkinson-s-1.5868848 https://nypost.com/2021/11/15/kamala-harris-sidelined-amid-tensions-with-president-biden/ Join the Conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ More James at Smoke & Storieshttps://www.youtube.com/playlist?list=PLjILow4-ZJpBV-NnmSusZJ_vCuzKUJ4Ig Let Us Know What You Think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitterhttps://twitter.com/JamesRHarrigan Learn more about your ad choices. Visit podcastchoices.com/adchoices

David Card recently won the Nobel Prize in economics for his contributions to the study of labor markets and natural experiments. Some minimum wage proponents confuse these excellent contributions with a particular application of his contributions to a study he conducted of a hike in New Jersey’s minimum wage. We discuss the flaws in that oft-cited study, and the distinction between his contributions and the study.   Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hitshttps://nymag.com/intelligencer/2021/11/buffalo-election-2021-results-india-walton-defeated.html https://thehill.com/homenews/campaign/580322-democrats-brace-for-flood-of-retirements-after-virginia-rout https://www.usatoday.com/story/news/politics/2021/11/07/biden-approval-falls-38-midterms-loom-usa-today-suffolk-poll/6320098001/ Foolishness of the Weekhttps://abcnews4.com/news/nation-world/annual-microsoft-ignite-conference-entices-criticism-over-woke-introductions https://freebeacon.com/culture/microsoft-encourages-employees-to-state-race-gender-during-presentations/ https://www.fox5ny.com/news/one-of-worlds-largest-investment-firms-will-need-permission-to-hire-white-men Topic of the Week https://davidcard.berkeley.edu/papers/njmin-aer.pdf https://www.econlib.org/no-krueger-didnt-prove-that-raising-the-minimum-wage-doesnt-increase-unemployment/ Join the Conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ More James at Smoke & Storieshttps://www.youtube.com/playlist?list=PLjILow4-ZJpBV-NnmSusZJ_vCuzKUJ4Ig Let Us Know What You Think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitterhttps://twitter.com/JamesRHarrigan Learn more about your ad choices. Visit podcastchoices.com/adchoices