Qualified Opinions

Romina Boccia, Director of Budget and Entitlement Policy at the Cato Institute and co-author of Reimagining Social Security, explains why a 1935 system is clashing with modern markets and longevity. She unpacks the lockbox myth, the real pay-as-you-go mechanics, the 2032 trust fund deadline, and reform ideas like private accounts, USAs, and automatic stabilizers.

In this episode, Veronique de Rugy and Luke Foster peel back the layers of the "French political soul," and explore the intellectual roots of the Franco-American relationship. Foster, a professor and co-founder of Academia Tocqueville, argues that Tocqueville's emphasis on civil society as a check on central power remains the ultimate diagnostic tool for modern governance. De Rugy and Foster also discuss the high stakes of 21st-century geopolitics, centered on Foster's recent critique of the NATO alliance, "We Need Friends, Not Flatterers." They dissect the Gaullist concept of strategic autonomy, questioning whether the American security umbrella has inadvertently stunted European state capacity and led to a "crowding out" of defense spending by the welfare state. From France's nuclear grid to the surprising efficiency of its fiscal bureaucracy, De Rugy and Foster challenge the assumption that the American model is always more efficient, ultimately calling for a partnership built on honest realism rather than convenient dependence.

Host Veronique De Rugy is joined by Peter Boettke to discuss his recent work on the "marvel" of the market and why modern economics has lost its way. Centered on F.A. Hayek's landmark essay, The Use of Knowledge in Society, this episode explores how prices serve as a vital vehicle for learning and coordination that no top-down planner can replicate. They discuss the transition of economics from a tool for "social understanding" to a failed instrument of "social control" and the dangerous consequences of treating economic science like "social physics".

This episode of Qualified Opinions features a provocative discussion with Russ Greene on the topic of "Total Boomer Luxury Communism." It's a system where wealth is systematically transferred from younger, less affluent generations to the most prosperous cohort in US history through entitlement programs such as Social Security and Medicare. Vera and Russ dive into the structural unfairness of age-based benefits, explaining how the pay-as-you-go system, coupled with misleading "property rights" language, burdens current workers with debt, inflation, and a compounding housing crisis—all to sustain benefits for seniors, regardless of their net worth. Discover the hidden mechanics behind this intergenerational transfer and why many Americans are shocked by the reality of these programs.

Dive into a provocative discussion with host Veronique De Rugy, John Cochrane, author of The Fiscal Theory of the Price Level, and Tom Hoenig, a Distinguished Senior Fellow at the Mercatus Center at George Mason University. Veronique and guests challenge the notion of Federal Reserve independence, arguing that independence is not an absolute virtue, but a limited grant tied to obeying strict rules—namely, sticking to inflation and employment. They explore the history of independence, arguing its true purpose is a pre-commitment against the temptation to print money to monetize government deficits. You'll hear why restoring the Fed's limited mandate may be more crucial than its independence alone. Hoenig and Cochrane provide a crucial historical perspective, detailing how the Fed has "failed in many ways and exceeded its authority." Hoenig argues the Fed violated its primary mandate by effectively monetizing massive government debt through quantitative easing and keeping interest rates at zero, enabling increased fiscal spending and resulting in widespread inflation (including asset inflation). The episode draws parallels to the 1951 Fed-Treasury Accord as a past example of reestablishing boundaries. Learn how the current refusal of the Fed leadership to address fiscal policy and the deficit echoes a dangerous pattern, and why the solution must come from Congress being crystal clear about the Fed's limited role.

Scott Lincicome and Donald J. Boudreaux dive into the complexities of the International Emergency Economic Powers Act (IEPA) and its controversial use for imposing tariffs during the Trump administration. They explore the unprecedented shift in presidential trade powers, the balance between executive and congressional authority, and the broader implications for U.S. trade policy. The discussion highlights the economic fallout of tariffs on consumers and small businesses, legal challenges faced, and potential reforms to prevent future abuses of emergency powers.

Today, Brian Albrecht joins Qualified Opinions to discuss his recent writings on tariffs, why economists find them uniquely frustrating, and how simple supply and demand principle still does a remarkable job at predicting the effects of policies. Brian Albrecht is the Chief Economist at the International Center for Law & Economics.

Graduate student unions are on the rise, and they're not like the workers' unions of the 1950s and 1960s—they are something all their own. At the heart of these unions sit many of the issues sending our universities into decay: social justice activism, radical politics, and woke culture. Jon Hartley joins to discuss the battle against these institutions. Jon Hartley is an economist specializing in finance, labor economics, and macroeconomics. He is currently a Policy Fellow at the Hoover Institution, an economics PhD Candidate at Stanford University, a Research Fellow at the UT-Austin Civitas Institute, and an Affiliated Scholar at the Mercatus Center. Jon is also the host of the Capitalism and Freedom in the 21st Century Podcast, an official podcast of the Hoover Institution

Free market ideas are waning on both sides of the aisle in modern American politics, but the justifications for this sit on shaky ground. In The Triumph of Economic Freedom, Donald Boudreaux and Phil Gramm debunk seven economic myths about American Capitalism. Donald Boudreaux joins the show today to discuss. Donald Boudreaux is a Senior Fellow at the Mercatus Center, Professor of Economics at George Mason University, and one of the most compelling public defenders of free market principles.

Danny Heil, a policy fellow at the Hoover Institution focused on federal budgets, and Tom Church, a fellow studying health care and income inequality, dissect the complexities of the federal budget. They highlight public misconceptions about major expenditures like Social Security and defense, emphasizing the urgent need for fiscal strategy reform. The discussion also tackles fraud in Medicaid and Medicare, the challenges of modernizing payment systems, and critiques the idea of replacing income tax with tariffs, suggesting it could harm the economy.