The Economist Next Door

Ryan Yonk, energy markets expert focused on regulation and permitting reform. Julia Cartwright, energy policy analyst with work on nuclear and technology-neutral policy. They unpack US electricity sources and global context. They debate permitting bottlenecks, market vs planned innovation, retail choice experiments, small modular reactors, and how subsidies and utility structure shape the grid's future.

In this episode of The Economist Next Door, host Paul Mueller is joined by AIER research fellows Thomas Savidge and Julia Cartwright to examine the push for wealth taxes in the United States and around the world. They explain how wealth taxes differ from traditional taxes on income and consumption, and what history reveals about their real-world effects. Drawing on examples from California, New York, and Europe, the discussion highlights capital flight, revenue volatility, and the unintended consequences of taxing accumulated wealth. The episode also tackles common claims about billionaires "not paying their fair share," unpacks the complexity of the tax code, and explains why taxes aimed at the ultra-wealthy rarely stay confined to their original targets. From the Smaug fallacy to the Tiebout Effect, the conversation introduces listeners to the economic ideas behind the debate—and shows how a seemingly "common sense" policy can carry serious consequences for growth, investment, and living standards.

Dave Hebert, a former Senate Budget Committee staffer and policy commentator, and Tom Savidge, an economic freedom and federalism researcher, explore how federal funding reshaped state power. They trace the shift from limited federal roles to national dominance. They discuss Civil War nationalization, New Deal leverage, crisis-driven growth, and how matching rules like Medicaid alter state choices.

On the 250th anniversary of The Wealth of Nations, host Paul Mueller sits down with economists Dan Klein, professor at George Mason University and chief editor of Econ Journal Watch, and Eric Matson, senior research fellow at the Mercatus Center and lecturer at Catholic University, to explore Adam Smith's enduring impact. They discuss Smith as both an academic and a moral authority, the lessons of The Wealth of Nations for modern economics and public policy, the invisible hand, the limits of government intervention, and why Smith's insights on markets, human behavior, and social coordination still matter today. Along the way, the thinkers break down the real Adam Smith—not the caricature or "free-market fundamentalist" often invoked in modern debates, but a nuanced and deeply thoughtful observer of human nature and human action.

Dr. Dave Hebert, an economist who studies trade and capital flows, and Dr. Sam Gregg, a policy scholar focused on economic history and constitutional law, discuss the Supreme Court decision limiting presidential tariff powers. They unpack whether tariffs are foreign policy or taxation, explain the major questions doctrine, and explore trade deficits, capital flows, and legal paths around tariff limits.

Pete Earle, economic policy analyst; Jason Sorens, housing and zoning specialist; Tom Savage, public finance and pension researcher. They discuss the Supreme Court curbing presidential tariff power. They explore America’s housing supply crunch, rising construction and insurance costs, parking and quality rules that drive prices up. They unpack exploding public pension liabilities and fiscal consequences for states.

Nikolai Wenzel, an economist focused on conservative/libertarian debates, and Nathan W. Schlueter, a political philosopher defending classical liberalism, discuss fusionism's aim to reconcile liberty and virtue. They trace its Cold War roots, debate immigration, family and the administrative state, and explore whether classical thinkers still provide common ground for a fractured right.

In this episode of The Economist Next Door, host Paul Mueller is joined by AIER economists Dave Hebert and Julia Cartwright to introduce the Defending Freedom, Combating Collectivism team. They examine the rise of collectivism on both the right and left, how political incentives fuel cronyism and redistribution, and why politicians so often pick winners and losers at consumers' expense. What does this growing struggle mean for economic freedom, human flourishing, and the American future?

Samuel Gregg, president of the American Institute for Economic Research and Hayek scholar, discusses why economics must be made accessible to everyday people. They explore free trade versus protectionism, rising collectivist trends across the spectrum, and the need to pair empirical analysis with moral arguments to make markets emotionally and politically persuasive.

Richard Stern, Acting Director at The Heritage Foundation, dives into the intricate nature of wealth, transcending material definitions. He discusses why government ownership in corporations is misguided and the potential dangers of government investments, using recent initiatives as case studies. The conversation also critiques tariffs, revealing their hidden costs on small businesses and the economy. Additionally, Stern addresses inflation as a subtle tax that impacts purchasing power, urging listeners to reconsider wealth's societal implications.