Words & Numbers

This week, economist and theorist Warren Mosler joins James and Antony to explain the details of Modern Monetary Theory (MMT). With 40 years of experience in finance and monetary operations, Mosler is a leading expert on MMT, is a co-founder of AVM—a brokerage, trading, and administrative services firm—and lectures on monetary economics around the world. He covers the important ramifications stemming from the adoption of MMT and how coercive shifts of resources benefit public infrastructure, and responds to criticisms of MMT. With supporters in Washington such as Alexandria Ocasio-Cortez and Bernie Sanders, MMT is quickly gaining a strong following, and Warren, James, and Antony discuss the important points on this winding theory and more. Show Notes: People killed in armed conflicts People killed by mosquitoes Genetically modified mosquitoes Foolishness of the week TSA smuggling ring Topic of the week Modern Monetary Theory Warren Mosler Join the conversation Antony Davies on Twitter James R. Harrigan on Twitter Antony Davies on Minds.com James R. Harrigan on Minds.com Words & Numbers Backstage Let us know what you think at: wordsandnumberspodcast@gmail.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

Discrimination happens every single day. Every human, in some way, makes a judgment about other humans and uses that judgment to discriminate, whether that be who they date, who they do business with, and, yes, who they hire and fire. Most discrimination is fine—necessary, even. But sometimes it crosses a line. Where is that line? How does it affect people’s careers? When is litigation the right option? Antony Davies and James Harrigan with special guest Vince White as they discuss this and more on Words & Numbers. Show Notes: Online dating is changing society Amazon paid no federal taxes Foolishness of the week Amazon took its ball and went home Topic of the week Federal employment discrimination laws Join the conversation Antony Davies on Twitter James R. Harrigan on Twitter Antony Davies on Minds.com James R. Harrigan on Minds.com Words & Numbers Backstage Let us know what you think at: wordsandnumberspodcast@gmail.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

The Outrage Engine that is social media and op-eds has set its sights on a new target: billionaires. Apparently, being a billionaire is a bad, bad thing. Billionaires should sit down, shut up, and meekly wait until we confiscate their wealth. For certain people of certain political beliefs, this sounds like a great idea. Because, after all, nobody needs that much money. But is it really that simple? Can we really just steal billionaires’ money and nothing bad happens? Join James Harrigan and Antony Davies as they breakdown this and more on Words and Numbers. Quick hits Redditors are kind to a person in need Hawaii tries to ban smoking 1 Hawaii tries to ban smoking 2 Foolishness of the week Green New Deal Resolution Topic of the week Elizabeth Warren’s wealth tax plan How an income tax on the rich expanded to be a tax on everyone Join the conversation Antony Davies on Twitter James R. Harrigan on Twitter Antony Davies on Minds.com James R. Harrigan on Minds.com Words & Numbers Backstage Let us know what you think at: wordsandnumberspodcast@gmail.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

  Fun fact: the profit margin for most businesses is about 8 percent. When you’re talking about categories like restaurants and retail stores, that margin drops to around 2 percent. Yet, some people still seem to believe that all companies are perfectly capable of simply absorbing dramatic increases in their operating costs—namely, labor—with no changes in behavior by these companies. Artificially inflating labor costs, as in the form of minimum wage increases, will not lead to decreased hours, lay-offs, deferred hiring, decreases in benefits, or increased prices for consumers because… reasons. And if you voice disagreement with any of these beliefs, then you must just hate the poor or other ad hominem claims. But who really “hates” the poor based on actual policy outcomes, the #FightFor15 crowd or those who oppose minimum wage hikes? Join Antony Davies and James Harrigan as they dig into this and more on this week’s episode of Words and Numbers. Quick hits AOC ruffles feathers Lyft offers free rides to shelters Foolishness of the week Seeing racism where it’s not Topic of the week: “You Just Hate the Poor!” and Other Minimum Wage Misunderstandings Analysis of Minimum Wage in Pennsylvania Census data on household incomes Bureau of Labor Statistics data on minimum wage workers A $15 minimum wage hurts workers Join the conversation Antony Davies on Twitter James R. Harrigan on Twitter Antony Davies on Minds.com James R. Harrigan on Minds.com Words & Numbers Backstage Let us know what you think at wordsandnumberspodcast@gmail.com   Learn more about your ad choices. Visit podcastchoices.com/adchoices

Though the United States, as a constitutional republic, is considered to be a “limited government,” it often doesn’t feel that way. Washington keeps churning out law after law regarding what the state may do and what the individual may not. The fault for this is often laid at the feet of the Founders for including the “Necessary and Proper Clause” in Article 1, Section 8 of the Constitution. But is that blame just? Or have politicians through the years simply used it as an excuse to do what they wanted, regardless of what the Constitution says? Join James Harrigan and Antony Davies as they talk about this and more on this week’s episode of Words and Numbers. Show Notes: Judge convicts volunteers Nancy Pelosi on inequality Foolishness of the week Wealth tax Senators’ oath of office Topic of the week: Diversity Officers and Administrative Bloat in Higher Education How much of government shuts down? Article 1, Section 8 10th Amendment 16th Amendment Wickard v. Filburn Join the conversation Antony Davies on Twitter James R. Harrigan on Twitter Antony Davies on Minds.com James R. Harrigan on Minds.com Words & Numbers Backstage Learn more about your ad choices. Visit podcastchoices.com/adchoices

The word “diversity” has become a sticky one. In the last fifteen years, a genuine “diversity industry” has sprung up, particularly at colleges and universities in the United States. Higher education institutions across the country have entire departments with dozens of full-time, highly-paid staff members dedicated to the concept. But to what effect? And exactly what kinds of “diversity” are we talking about? Special guest (and regular FEE contributing author) Mark J. Perry joins Antony Davies and James Harrigan to drill down into this and more on this week’s episode of Words and Numbers. Quick hits Oregon first state to require home visits of all families with newborns Oregon looks to impose statewide rent control Article II, Section 3 Nancy Pelosi Foolishness of the week Ginia Bellefante $33 minimum wage City Harvest self-sufficiency calculator Topic of the week: Diversity Officers and Administrative Bloat in Higher Education Mark Perry The impact of diversity officers on diversity University of Michigan spends $11 million on diversity Fraction of 18-24 year olds enrolled in college (by race and gender) Carpe Diem blog Mark Perry on Twitter Join the conversation Antony Davies on Twitter James R. Harrigan on Twitter Antony Davies on Minds.com James R. Harrigan on Minds.com Words & Numbers Backstage   Learn more about your ad choices. Visit podcastchoices.com/adchoices

Americans are pretty concerned about violent crime—particularly crimes committed with guns, “assault weapons” most specifically. This concern, statistically speaking, is fairly irrational. You are far more likely to be killed by being beaten or stabbed than you are to be killed by any kind of rifle, “assault” or otherwise.  So why are so many people so tied up in knots about it? Join James Harrigan and Antony Davies as they discuss this and more on this week’s episode of Words and Numbers. Quick hits Corona brewing replaces plastic six-pack rings Illegal immigrants and Social Security numbers The economic case for immigration W&N episode #51: America relies on immigrants Foolishness of the week Being morally right vs being factually correct Criticism vs harassment Topic of the week: Reality and Perception of Crime Pew report on violent crime data FBI crime data Bureau of Justice Statistics crime data Gallup polls on perception of crime trends Defensive uses of guns Firearm homicide and suicide rates by city 2% of US counties account for 50% of US homicides Feinstein introduces assault weapons ban Assault weapons ban of 1994 Article I, Section 8 10th Amendment Join the conversation Antony Davies on Twitter James R. Harrigan on Twitter Antony Davies on Minds.com James R. Harrigan on Minds.com Words & Numbers Backstage Learn more about your ad choices. Visit podcastchoices.com/adchoices

People like to talk about the “good old days” where everything used to be so much better than it is today. Everybody feels nostalgic on occasion, and it’s perfectly normal to misremember the past, but were the good old days really all that great? Join Antony Davies and James Harrigan as they compare then and now on the 100th episode of Words and Numbers. Quick Hits:Cat parasiteElizabeth Warren Foolishness of the Week: NY Times crossword Topic of the week: Comparing Life Today to Life 100 Years Ago See the accompanying chart for data and data sources. Join the Conversation:Antony Davies on TwitterJames R. Harrigan on Twitter Antony Davies on Minds.com James R. Harrigan on Minds.com Words & Numbers Backstage Learn more about your ad choices. Visit podcastchoices.com/adchoices

Happy 2019, everyone! On our first episode of Words & Numbers in the new year, professor James Stacey Taylor joins Antony and James this week to discuss the ethical implications of creating markets for human organs. According to Prof. Taylor, nearly 18 people a day die from a shortage of kidney donors. Economists have argued for decades that these kinds of markets could save lives by creating better incentives for people to donate their organs to people in dire need, but critics say that it would encourage poorer people to put their health at risk for money. Who's right? Quick Hits: University of Missouri says tall men asking short women on dates is policy violationUniversity of Missouri and Title IX (court transcript)No one wants to buy Sears Foolishness of the Week: Union dues eat worker’s entire paycheck Topic of the week: Organ Markets James Stacey Taylor People in need of kidney donors Join the Conversation: Antony Davies on Twitter James R. Harrigan on TwitterAntony Davies on Minds.comJames R. Harrigan on Minds.comWords & Numbers Backstage www.fee.org/shows Learn more about your ad choices. Visit podcastchoices.com/adchoices

Within less than a decade of ratification of the Bill of Rights, President John Adams signed the Sedition Act, which blatantly violated the First Amendment’s protections of freedom of speech and freedom of the press. Since that time, the Supreme Court has repeatedly taken a firm stand in defense of the First Amendment against government encroachment. Yet, within the past couple of years, we’ve heard Congressional Democrats and now a Republican President call for restrictions of both the press and speech that is critical of the government. The freedom to criticize government is the last tool available to peaceful people who seek change. A government that prohibits critical speech, leaves its people with no option but to take up arms. Join James Harrigan and Antony Davies as they discuss this and more on this week’s episode of Words and Numbers. Show Notes: Corona brewing replaces plastic six-pack rings Iowa high schools require gun safety courses Foolishness of the week TSA switching to floppy eared dogs Topic of the week: The Alien and Sedition Acts Congressional party results The enemy of the people Sedition Act 1 Sedition Act 2 Sedition Act 3 Sedition Act 4 Join the conversation Antony Davies on Twitter James R. Harrigan on Twitter Antony Davies on Minds.com James R. Harrigan on Minds.com Words & Numbers Backstage Learn more about your ad choices. Visit podcastchoices.com/adchoices