Words & Numbers

In times of crisis, humans develop a dangerous, asymmetric view of events. We readily see the damage the crisis causes, but we don’t readily see the potential damage that proposed solutions can cause. And when information is uncertain, we tend to believe the worst about the crisis while tending to believe the best about proposed solutions. There is mounting evidence that this is playing out right now with the decision to shut down the economy in order to slow the spread of the coronavirus. 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 How We Deal with Lockdowns https://www.usatoday.com/story/news/nation/2020/04/15/coronavirus-police-maryland-town-urge-residents-wear-pants/5140750002/ Ghosts https://www.indy100.com/article/indonesia-ghosts-terrifying-coronavirus-lockdown-stay-home-9462511 Australia Trend https://www.sadanduseless.com/bin-isolation-outing/ Italian Toast https://www.facebook.com/MagnificentItaly/videos/178130129869702 Llama Rentals https://futurism.com/the-byte/rent-goats-llamas-zoom-meetings Pet Skype Calls https://www.themarysue.com/the-new-york-times-is-wrong-about-pets-on-video-conferences/ CO2 Supplies Diminishing https://www.reuters.com/article/us-health-coronavirus-ethanol-beer/beer-may-lose-its-fizz-as-co2-supplies-go-flat-during-pandemic-idUSKBN2200G3 Foolishness of the Week Covid Scam https://wjla.com/news/nation-world/do-not-click-the-link-police-warn-of-scam-covid-19-text-messages Topic of the Week Flu Index https://www.cdc.gov/flu/about/burden/index.html United State Corona Cases https://www.cdc.gov/coronavirus/2019-ncov/cases-updates/cases-in-us.html Santa Clara County Case Study https://www.medrxiv.org/content/10.1101/2020.04.14.20062463v1 Boston’s Homeless Testing https://www.wbur.org/commonhealth/2020/04/14/coronavirus-boston-homeless-testing Corona’s Reach https://spectator.us/covid-antibody-test-german-town-shows-15-percent-infection-rate/ Quarantined Cruise Ship https://www.statista.com/statistics/1099517/japan-coronavirus-patients-diamond-princess/ Economic Outcome https://www.nytimes.com/2020/04/14/us/politics/coronavirus-economy-recession-depression.html Intervention Cost Breakdowns http://econ.ucsb.edu/~tedb/Courses/UCSBpf/readings/interventions.pdf Cardiovascular Disease Spending https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3495132/ Join the conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ 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 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Vernon Smith, winner of the 2002 Nobel Prize in economics joins us on this episode to talk about the economic impact of the coronavirus and why, though we will have to push through some pain, we can be optimistic about the future. 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 Sweden’s Approach to Coronavirus https://www.cnn.com/2020/04/10/europe/sweden-lockdown-turmp-intl/index.html Non-essentials https://www.businessinsider.com/costco-walmart-target-stop-selling-non-essential-items-select-states-2020-4 Michigan Governor https://dailycaller.com/2020/04/11/gretchen-whitmer-gardening-seeds-non-essential/ Foolishness of the Week Pope Francis – On Universal Wage https://www.businessinsider.com/pope-francis-it-might-be-time-to-consider-universal-basic-wage-2020-4 On “Nature’s Response” https://thehill.com/policy/energy-environment/491734-pope-says-coronavirus-outbreak-may-be-one-of-natures-responses-to Topic of the Week Vernon Smith – USA Today & WSJ https://www.chapman.edu/our-faculty/vernon-smith https://www.usatoday.com/story/opinion/2020/03/23/coronavirus-economy-lives-suspense-not-wall-street-crash-column/2898448001/ https://www.wsj.com/articles/the-economy-will-survive-the-coronavirus-11586103392 Join the conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ 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 Learn more about your ad choices. Visit podcastchoices.com/adchoices

In response to the virus, state and city governments are exercising powers that they wouldn’t have in normal times. State and local governments are ordering businesses to close, restricting people’s right to travel, and talking about legally suspending rent and debt payments. This week, Clark Neily joins us to discuss the black, white, and gray constitutional areas of governmental powers in times of crisis. Get Your Copy of Cooperation and Coercion Now! https://isi.org/cooperation-and-coercion-preorder/ Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hits Math Teacher https://twitter.com/DakSt8Football/status/1243687140799766532/photo/1 Venezuelan Warship https://www.bbc.com/news/world-latin-america-52151951 Earliest Recorded Use of the F-Word https://www.dailymail.co.uk/news/article-8189047/Worlds-earliest-record-F-word-discovered-manuscript-written-bored-Scottish-student.html Foolishness of the Week The Social Distancing Police https://www.forsythnews.com/news/government/cumming-officials-sign-social-distancing-order-will-swear-150-residents-special-policemen/ Topic of the Week Clark Neily https://www.cato.org/people/clark-neily Join the Conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ 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 Learn more about your ad choices. Visit podcastchoices.com/adchoices

In the debate over the future of public schooling in the U.S., charter schools may show the way forward. Similar to public schools, charter schools are open to all students and are funded by and answerable to state and local governments. Like private schools, charter schools are free to experiment with curricula and teaching styles, unencumbered by state and local government meddling. Pinnacle Classical Academy, in Shelby, NC, is one example of educational experimentation made possible by charter schools. 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 Coronavirus and Subsidiarity https://reason.com/2020/03/25/despite-coronavirus-sweden-refuses-to-shutter-businesses-and-limit-gatherings/ Sweden’s Response https://www.nytimes.com/2020/03/28/world/europe/sweden-coronavirus.html Baby Chickens https://www.nytimes.com/2020/03/28/style/chicken-eggs-coronavirus.html Foolishness of the Week Virginia Locked down for More Than 2 Months https://www.richmond.com/special-report/coronavirus/update-northam-issues-statewide-stay-at-home-order-effective-through/article_67dbe141-da92-504b-b74d-e7c9ed8a118c.html Bonus Foolishness: Mayor de Blasio https://www.washingtontimes.com/news/2020/mar/30/bill-de-blasio-churches-caught-holding-services-du/ Topic of the Week Pinnacle Classical Academy https://www.pinnacleclassicalacademy.com/ Join the Conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ 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 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Lincoln Chafee is possibly the only politician in US history who has served as mayor, governor, and US Senator and been elected as a Republican, a Democrat, and an Independent. Now Gov. Chafee is running to be the Libertarian Party’s candidate for President of the United States. Gov. Chafee brings the broadest of perspectives on American politics to this week’s Words & Numbers. Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Get Your Copy of Cooperation and Coercion Now! http://www.cooperationandcoercion.com Quick Hits People Being Nice to Each Other https://lithub.com/big-hearted-strangers-turn-little-free-libraries-into-little-free-pantries/ IHOP to Go https://triblive.com/local/westmoreland/westmoreland-restaurant-helping-out-churches-organizations-impacted-by-fish-fry-cancellations/ Best Buy’s Employee Solution https://www.vice.com/en_us/article/akwq8a/best-buy-employees-work-voluntary-coronavirus-paid-two-weeks T-Mobile & Sprint Providing Unlimited Data https://www.tomsguide.com/news/t-mobile-and-sprint-providing-unlimited-data-to-all-customers-for-coronavirus-relief Conference Calls by Zoom https://www.fool.com/investing/2020/03/14/zoom-is-helping-schools-closing-due-coronavirus-fo.aspx U-Haul for College Students https://www.uhaul.com/Articles/About/20625/College-Students-U-Haul-Offers-30-Days-Free-Self-Storage-amid-Coronavirus-Outbreak/ Employees over Rent https://www.kait8.com/2020/03/18/property-owner-tells-restaurants-pay-employees-instead-rent/ Americans Stranded Abroad https://www.msn.com/en-us/news/us/thousands-of-americans-stranded-abroad-as-money-patience-run-out/ar-BB11vJu2 Disaster Relief Guides and Resources https://medium.com/@kittystryker/collective-care-is-our-best-weapon-against-covid-19-851e29568656 Foolishness of the Week Trillion-Dollar Coins https://www.businesstelegraph.co.uk/minting-basic-income-us-lawmaker-asks-treasury-to-issue-two-1-trillion-coins-with-no-debt/ Topic of the Week Lincoln Chafee https://www.lincolnchafee.com/ Join the Conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ 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 Learn more about your ad choices. Visit podcastchoices.com/adchoices

The laws of economics aren’t social conventions that we can choose to follow or ignore as it suits us. When demand for a product outstrips supply, the price of the product rises. Calling it, “price gouging,” and outlawing doesn’t make the price increase go away. It simply hides it in other forms. When it comes to price gouging laws, we only think we are choosing between a high price and a low price. We are actually choosing between a high price and a shortage. Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Get Your Copy of Cooperation and Coercion Now! https://isi.org/cooperation-and-coercion-preorder/ Quick Hits Dayton University Pepper Sprays Its Students https://www.dispatch.com/news/20200311/police-fire-pepper-balls-at-disorderly-crowd-near-university-of-dayton-after-coronavirus-dorm-closing-announcement People Calling 911 for Toilet Paper https://www.fox5ny.com/news/do-not-call-911-just-because-you-ran-out-of-toilet-paper-oregon-police-say Foolishness of the Week Student Suspended for Selling Hand Sanitizer https://nypost.com/2020/03/12/uk-teen-suspended-from-school-for-charging-students-for-hand-sanitizer/ Topic of the Week Craigslist Gas Black-Market https://money.cnn.com/2012/11/05/news/economy/craigslist-gas-sandy/index.html Fire Man Arrested for Selling Gas Post Hurricane Sandy https://www.nj.com/essex/2014/12/jury_selection_to_begin_for_east_orange_firefighter_accused_of_selling_gas_after_hurricane_sandy_fue.html Join the Conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ 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 Learn more about your ad choices. Visit podcastchoices.com/adchoices

When a person harms another, the harmed party can go to the courts to seek redress. But the Supreme Court sets police and prosecutors above the law. If someone who works in these professions harms you, you will likely be prohibited from suing the person. This week on Words & Numbers, Clark Neily joins us to discuss the ramifications of immunity protections. Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Get your copy of Cooperation and Coercion now! https://isi.org/cooperation-and-coercion-preorder/ Quick Hits Price Gouging https://www.wsj.com/podcasts/tech-news-briefing/amazon-works-to-remove-price-gouging/C761B7C8-0535-40E7-B039-3203306C789B Racism and Sexism https://reason.com/2020/03/06/sexism-didnt-kill-the-warren-campaign-the-warren-campaign-killed-the-warren-campaign/ Foolishness of the Week Lenin Statue https://www.theguardian.com/world/2020/mar/06/first-lenin-statue-western-germany-erected-gelsenkirchen Topic of the Week Terms of Engagement https://www.amazon.com/Terms-Engagement-Enforce-Constitutions-Government/dp/1594036969 Clark Neily on Twitter https://twitter.com/ConLawWarrior Join the Conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ 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 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Ten years ago, an explosion on the oil rig Deepwater Horizon killed almost a dozen people and resulted in the worst oil spill in US history. This week, economist and environmental and regulatory expert Peter Van Doren joins us to discuss the incentives in play that contributed to the tragedy. Show Your Support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick Hits California’s Universal Basic Income https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=201920200AB2712 Wal-Mart as a Health Care Provider https://www.bloomberg.com/news/articles/2020-02-25/walmart-takes-on-cvs-amazon-with-low-price-health-care-clinics Foolishness of the Week Gender Neutral Stores https://www.sacbee.com/news/politics-government/capitol-alert/article240601601.html Topic of the Week Deepwater Horizon https://www.nytimes.com/2010/12/26/us/26spill.html Peter Van Doren https://www.cato.org/people/peter-vandoren Join the Conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ 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 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Karl Marx’s thoughts on socialism are popular among politicians and humanities professors, but not so much among business people and economics professors. In this episode, Phil Magness, economic historian and author of The Best of Karl Marx, joins Words & Numbers to talk about how Marx’s teachings were on the way out but got resurrected by political leaders and academics. Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick hits Jeff Bezos Giving $10 Billion https://www.goodnewsnetwork.org/jeff-bezos-giving-away-10-billion-in-grants-for-fighting-climate-change/ Coronavirus Threatens Chinese Economy https://www.bloombergquint.com/global-economics/millions-of-chinese-firms-face-collapse-if-banks-don-t-act-fast Foolishness of the week Flat Earth Experiment https://www.usatoday.com/story/news/nation/2020/02/23/mad-mike-hughes-killed-homemade-rocket-crash-california/4849772002/ Topic of the week The Best of Karl Marx https://www.amazon.com/gp/product/B07ZY9TGTX?ref=dbs_p2d_P_R_popup_yes_pony_T1 Join the conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ 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 Learn more about your ad choices. Visit podcastchoices.com/adchoices

We’ve all experienced incivility on the Internet. But today’s incivility is more than people being rude to each other online. Political leaders have become less civil toward each other, and political parties have become more extremist. Middle America, meanwhile, is becoming less represented as people on the two political extremes listen less to and scream more at each other. Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick hits Dinosaur statue https://www.the-sun.com/news/375426/dad-accidentally-orders-19ft-carnotaur-statue-for-his-dinosaur-mad-son-that-was-dropped-into-garden-by-crane/ Car dealers encourage loan defaults https://www.wsj.com/articles/dealerships-give-car-buyers-some-advice-just-stop-paying-your-loan-11581762601 Foolishness of the week Florida man refuses dialysis https://www.washingtonpost.com/health/2020/02/15/trump-cardboard-cutout-dialysis-treatment/ Topic of the week The hounding of Jordan Peterson https://spectator.us/jordan-peterson-addiction-death-online-hate/ U.S. media polarization https://www.journalism.org/2020/01/24/u-s-media-polarization-and-the-2020-election-a-nation-divided/ Democrats have become more liberal https://www.pewresearch.org/fact-tank/2020/01/17/liberals-make-up-largest-share-of-democratic-voters/ Why has America become so divided https://www.psychologytoday.com/us/blog/psych-unseen/201809/why-has-america-become-so-divided What are the solutions to political polarization https://greatergood.berkeley.edu/article/item/what_are_the_solutions_to_political_polarization Join the conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ 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 Learn more about your ad choices. Visit podcastchoices.com/adchoices