Free Thoughts

The Color of Law, written by Richard Rothstein, has been described as the “powerful and disturbing history” of how American governments deliberately imposed racial segregation on metropolitan areas nationwide. He helps us understand twentieth-century urban history. A history that provides insight as to why our cities are still facing residential issues today.When the government created segregated housing systems, did they think it would persist much through the 20th century? What obstacles did blacks face in the Jim Crow era when they were buying a house?Related Content:The Color of Law, written by Richard RothsteinThe Road Not Taken, written by Stephen Menendian and Richard RothsteinFrom Ferguson to Baltimore, written by Richard RothsteinFurther Reading:Black History and Liberty, written by Jonathan BlanksLooking Back to Look Forward: Blacks, Liberty, and the State, written by Jonathan BlanksWhy Aren’t There More Black Libertarians?, Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

Patrick G. Eddington’s tenure at the CIA spanned the transition from the Cold War to the new era of American interventionism in the Persian Gulf and the Balkans. In his book, Long Strange Journey: An Intelligence Memoir, he tackles a whole slew of questions; Why was President George H.W. Bush so surprised that Saddam Hussein invaded Kuwait? Did America’s intelligence community fail to warn him of the threat, or did he ignore their predictions of an invasion? Why did the CIA and the Pentagon deny so vehemently for so long that sick Desert Storm veterans were exposed to Iraq’s chemical agents?Should we be weary of surveillance technology that our foreign intelligence uses overseas? What if that technology was used domestically? What is it like to work with America’s intelligence community? What was Gulf War syndrome? How do you become a whistleblower?Further Reading:Long Strange Journey: An Intelligence Memoir, written by Patrick EddingtonThe Uncounted Enemy: A Vietnam DeceptionCrisis of Conscience: Whistleblowing in an Age of Fraud, written by Tom MullerRelated Content:The CIA Listens to Free Thoughts, Free Thoughts EpisodeThe Inhumanity of Torture, Free Thoughts EpisodeDeconstructing the Surveillance State, Free Thoughts Episode Hosted on Acast. See acast.com/privacy for more information.

Bryan Caplan and Zach Weinersmith join the show today to talk about their non-ficton graphic novel; Open Borders: The Science and Ethics of Immigration.American policy-makers have long been locked in a heated battle over whether, how many, and what kind of immigrants to allow to live and work in the country. Those in favor of welcoming more immigrants often cite humanitarian reasons, while those in favor of more restrictive laws argue the need to protect native citizens.Why is immigration a horrible injustice that no one seems to be talking about? Why do we frame immigration as charity? How do you change people’s minds on immigration?Further Reading:Open Borders: The Science and Ethics of Immigration, written by Bryan CaplanThe Case against Education: Why the Education System Is a Waste of Time and Money, written by Bryan CaplanThe Myth of the Rational Voter, written by Bryan CaplanLook to Milton: Open borders and the welfare state, written by Robert RectorRelated Content:You Are Now Free to Move About the Planet, Free Thoughts PodcastThe Truth About Immigration, Free Thoughts PodcastMyths and Facts of Immigration Policy, written by Alex Nowrasteh Hosted on Acast. See acast.com/privacy for more information.

Catherine Wilson teaches us that there is more to Epicureanism than eating, drinking, and being merry. Epicureanism is not an excuse for having a good time, it stresses the importance of living a good life. Epicureans maintain a philosophy that promotes reason, respect for the natural world, and respect for fellow human beings.What is Epicureanism? Who was Epicurus? How did Epicureans become utilitarians? Is Epicureanism just utilitarianism? Was Epicurus an atheist? What is the scope of Epicurean influence?Further Reading:How to be Epicurean, by Catherine WilsonUsing Epicurean Philosophy for Finding Happiness, written by Jodi ClarkeEpicureanism at the Origins of Modernity, written by Catherine WilsonRelated Content:Buddhist Ethics Does Not Advocate State Action, written by Aaron Ross PowellStoicism, Encyclopedia of LibertarianismEpicureanism, Encyclopedia of Libertarianism Hosted on Acast. See acast.com/privacy for more information.

The cigarette is the most lethal consumer product in history, but how has smoking changed in the last 30 years? Smoking is banned from many restaurants, bars, parks, and places of work. The moral panic has ensued around smoking and the fear is only increasing. But, what if there is a better way for smokers to have what they want without burdening them with regulations?Why did the cigarette take over the tobacco world? Should there be places that people should go to enjoy smoking tobacco together? How did second hand smoke become a property rights issue? Why is smoking so stigmatized? What is thirdhand smoke? Does anyone want a safer cigarette?Further Reading:The Rediscovery of Tobacco: Smoking, Vaping, and the Creative Destruction of the Cigarette, written by Jacob GrierKing James I, A Counterblaste to Tobacco, 1604Christopher Hitchens on Audio, Cato At LibertyChristopher Hitchens May Be Dying Of Cancer, But He Has No Regrets About Smoking And Boozing, written by Joe PompeoBarbara Ehrenreich Doesn’t Have Time for Self-Care, Isaac ChotinerRelated Content:Chasing the Scream: The First and Last Days of the War on Drugs, Free Thoughts PodcastIs the DEA Trippin’? (with Rick Doblin), Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

According to Deirdre McCloskey the greatest challenges that humankind faces are tyranny and poverty. McCloskey is a firm believer that if we were to return to true liberal values it would be good for everyone. For examples of true liberal values she refers to philosophers Locke, Smith, Voltaire, and Wollstonecraft.What is the connection between liberalism and democracy? How is liberalism non-coercive? What fights should libertarians prioritize? How can you be principled advocate for the poor? Who influenced Deirdre McCloskey?Further Reading:Why Liberalism Works: How True Liberal Values Produce a Freer, More Equal, Prosperous World for All, written by Deirdre McCloskeyThe magic washing machine, Hans Rossling TED TalkBourgeois Dignity: A Revolution in Rhetoric, written by Deirdre McCloskeyRelated Content:The Bourgeois Era, Free Thoughts PodcastLiberalism 1.0, Free Thoughts PodcastA Review of Bourgeois Equality: How Ideas, Not Capital or Institutions, Enriched the World by Deirdre McCloskey, written by David S. D’Amato Hosted on Acast. See acast.com/privacy for more information.

Clay Routledge joined the show today to talk about how our society has become increasingly individualistic, and how we are still learning the consequences of that. It is human nature to look for some sort of meaning in life. We are social animals, but that isn’t what makes us particularly unique. What makes us unique is that we maintain cultures and practices that make us seem, at least in part, larger than ourselves.Why do we search for meaning in our lives? How do we know if our life actually means something? Do people feel lonelier than the used to? Why is Western society becoming more secular?Further Reading:Human ProgressSupernatural: Death, Meaning, and the Power of the Invisible World, written by Clay RoutledgeWhy do we feel nostalgia?, Ted-Ed Talk by Clay RoutledgeRelated Content:The Collapse of the Local Community (with Tim Carney), Free Thoughts PodcastDo Socialists Mean Well?, written by Grant BabcockNo Man Is an Island (Not Even Libertarians), written by Aaron Ross Powell Hosted on Acast. See acast.com/privacy for more information.

David Starkey explains the origins of UK Parliament so that we can understand how it differs from the U.S. government. He claims that Parliament is not too dissimilar from Congress. However, one key difference from the system in the UK and our own is the position of Prime Minister. Unlike our President, the Prime Minister is not subject to a general election for that specific position. Towards the end of the episode they also discuss what is going on with Brexit.What is English common law? Is English government known for being too nice? What impact did the Magna Carta have on the structure of the English government? Why doesn’t the separation of powers in government work?Further Reading:David Starkey explains simple but infuriating reason behind Brexit impasse, written by Martina BetDr. David Starkey - Uncut: Assaults on Brexit, British Identity & History, So What You’re Saying Is ShowSix Wives of Henry VIII, BBC DocumentaryDavid Starkey’s Magna CartaRelated Content:Magna Carta Influence in the U.S. Constitution, written by David EdwardsThe Ancient Rights of Englishmen, written by David EdwardsRadical Weirdness in the English Civil Wars, podcast with Anthony Comegna and Caleb O. Brown Hosted on Acast. See acast.com/privacy for more information.

After the economic disaster of the Great Leap Forward that claimed tens of millions of lives from 1958–1962, an aging Mao Zedong launched an ambitious scheme to shore up his reputation and eliminate those he viewed as a threat to his legacy. He called this The Cultural Revolution. Trevor and Aaron ask Frank Dikötter about Mao’s legacy and how he came to power, which leads to a larger discussion about the nature of dictatorships.Where did Mao come from? What is the history of the Communist Party of China? What happened in China during the Great Leap Forward? Why does communism lead to millions of deaths? Why do dictators hate ideology? How unfree is daily life in China?Further Reading:How to Be a Dictator: The Cult of Personality in the Twentieth Century, written by Frank DikötterMao’s Little Red BookThe Cultural Revolution: A People’s History, 1962―1976, written by Frank Dikötter‘The Cultural Revolution: A People’s History, 1962-1976,’ by Frank Dikotter, book review in the New York TimesRelated Content:China: The Annihilation of Human Rights, written by David HartChinese Communism and the Economic Revolution, written by Leonard P. LiggioFifty Years after the Cultural Revolution, written by David Boaz Hosted on Acast. See acast.com/privacy for more information.

Helena Rosenblatt and Daniel Klein debate the origins of liberalism. Rosenblatt believes that Klein misuses Adam Smith. However, there is no way to know how Adam Smith would have acted in today’s political climate.What is liberalism? What is the political meaning of liberalism? How old is the idea of liberty? Was Edmund Burke thought of himself as a conservative? Is it a mistake to think that libertarians are part of the liberal tradition? At what point for example, does John Locke become called a liberal?Further Reading:The Lost History of Liberalism, written by Helena RosenblattLiberty Between the Lines in a Statist and Modernist Age, written by Daniel KleinThe Wealth of Nations, Adam SmithRelated Content:Was Adam Smith a Libertarian?, written by Paul MuellerSelf-Interest and Social Order in Classical Liberalism: Thomas Hobbes, written by George H. SmithThe Levelers: Libertarian Revolutionaries, written by Nicholas Elliott Hosted on Acast. See acast.com/privacy for more information.

It is often assumed that libertarianism depends on thinking that property rights are absolute, or on fetishizing individual liberty. But, Dan Moller argues that the foundations of libertarianism lie in widely shared, everyday moral beliefs, especially regarding restrictions on shifting our burdens onto others.What does it mean to shift burdens? Where do rights come from? Why do some people find redistribution of wealth appealing? Why is utilitarianism self-deception? How utopian should you be in your political philosophy?Further Reading:Governing Least: A New England Libertarianism, written by Dan MollerLocke and Nozick on the Justification of Property, written by Matt ZwolinskiRelated Content:A Libertarian Model of the Social Safety Net, written by David S. D’AmatoGovernment Money and Bureaucratic Control, written by Grant BabcockA Libertarian Perspective on the Modern American Welfare State, written by Michael D. Tanner Hosted on Acast. See acast.com/privacy for more information.

Timothy Sandefur comes back to the show to talk about John Bronowksi. Bronowski had a wide array of interests. He invented smokeless coal and was a friend to Leo Szilard, the inventor of the atomic bomb. In fact, he led the mission to assess the aftermath of the atomic bomb in both Hiroshima and Nagasaki. There was not much this famous scientist, philosopher, and poet didn’t do and Sandefur was the first author to write a biography of him.Who was John Bronowski? Why was Bronowski a socialist? Should politics stay out of science? What scientific research was conducted by the Nazis?Further Reading:The Ascent of Jacob Bronowski: The Life and Ideas of a Popular Science Icon, written by Timothy SandefurFrederick Douglass: Self-Made Man, written by Timothy SandefurThe Ascent of Man, BBC DocumentaryThe Disestablishment of Science: I, written by John BronowskiRelated Content: Science Doesn’t Need Public Funding, Free Thoughts PodcastBias in Scientific Research, Free Thoughts PodcastWhat Role Should Science Play in Public Policy?, Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

We welcome Arnold Kling back on to the show to talk about the new edition of Three Languages of Politics. He hits on how many people talk about politics within certain axes. Progressives operate on a oppressed vs. oppressor axis, conservatives on a barbarism vs. civilization axis, and libertarians on a coercion vs. liberty axis. These axis bind us to a frame of mind that is not conducive to talking to individuals of an opposing viewpoint. If we are aware of our own frame of mind and those of others, we could be better communicators of our ideas.How do we talk about politics? How should we talk about politics? Why do Trump supporters believe they are being oppressed by the elite? What is pluralism?Further Reading:Dunbar’s Number: A Key To Networking, written by Ken MakovskyBook Forum on the Three Languages of Politics Held at the Cato InstituteMedia Bias and Asymmetric Insight, written by Arnold KlingRelated Content:[The Three Languages of Politics](The Three Languages of Politics, Free Thoughts Podcast), Free Thoughts PodcastThe Three Languages of Politics, Third Edition, written by Arnold KlingHow We Polarize Ourselves, written by Arnold Kling Hosted on Acast. See acast.com/privacy for more information.

There is no doubt that we are in a global tend of authoritarian populism. Tom Palmer joins the show today to discuss how populism comes in many kinds of poison. He points to our disorderly immigration system as one of the reasons that populist rhetoric thrives in the United States. As there is more havoc at the border, it is perceived as an invasion rather than a flaw in our system. Do you think that the Republican Party is the new Populist Party? What is populism? Is there a clear distinction between democracy and populism? What is the idea of the ‘loyal opposition’?Further Reading:Animal Farm, written by George OrwellThe Terrifying Rise of Authoritarian Populism, written by Tom G. PalmerThe Virtue of Nationalism, written by Yoram HazonyRelated Content:What’s Wrong with National Conservatism?, Free Thoughts PodcastVice in The Virtue of Nationalism, written by Akiva MalametIs Liberalism in Danger?, Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

While researching private schools in India for the World Bank, and worried he was doing little to help the poor, James Tooley wandered into the slums of Hyderabad’s Old City. Shocked to find it overflowing with tiny, parent-funded schools filled with energized students, he set out to discover if schools like these could help achieve universal education.Do private schools exist across the world in the poorest of areas? In third world countries, how do you find private schools? Are there low-cost private schools? How much does teacher engagement matter in education?Further Reading:The Beautiful Tree: A Personal Journey Into How the World’s Poorest People are Educating Themselves, written by James TooleyLow-Cost Schools Are Transforming Africa, written by Tom Vander ArkRelated Content:The Education Apocalypse: How It Happened and How to Survive It, Free Thoughts PodcastPrivate Lives and Public Education, written by Jason KuznickiThe State of State Education in America, Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

The National Conservatism Movement is trying to continue Trumpism long after Trump is out of the White House. Recently, they held a conference in D.C. in order to streamline their message. The keynote speakers were Tucker Carlson, John Bolton, Josh Hawley, Peter Thiel, and Yoram Hazony, whose speech announced that “today is our independence day”. In this episode, Aaron Ross Powell, Paul Matzko, Jason Kuznicki, & Matthew Feeney analyze Josh Hawley’s America’s Epicurean Liberalism by defining what it means to be an American. What is the religious angle to national conservatism? What civic virtues does Joshua Hawley value? What does it mean to be American? Should society have a purpose?Further Reading:America’s Epicurean Liberalism, written by Joshua D. HawleyPlanned Parenthood v. CaseyThe Man Behind National Conservatism, written by Daniel LubanRelated Content:Social Media’s Moral Panic (with Milton Mueller), Free Thoughts PodcastWhat Senator Hawley Gets Wrong about American Identity, written by Aaron Ross Powell Hosted on Acast. See acast.com/privacy for more information.

Since the 2016 election, college campuses have erupted in violent protests, demands for safe spaces, and the silencing of views that activist groups find disagreeable. Robby Soave has gone in to the trenches to catalog these young radicals in order to better understand the climate at universities across America.When did college campuses become sites of harsh public discourse? How has the culture around safety changed on college campuses? Is there a crisis on college campuses? Are we chilling our professors in order to not hurt students’ feelings? What is intersectionality? Why are students claiming that their professors are triggering their PTSD?Further Reading:Panic Attack: Young Radicals in the Age of Trump, written by Robby SoavePenn law professor faces backlash, petition to resign over ‘repugnant’ comments on race and immigration, written by Owen DaughertyDo controversial figures have a right to speak at public universities?, written by Holly Epstein OjalvoCampus Rights, FIRERelated Content:The Coddling of the American Mind (with Jonathan Haidt and Greg Lukianoff), Free Thoughts PodcastCampus Freedom, Free Thoughts PodcastConformist Students Fear Disagreement, written by Natalie Dowzicky Hosted on Acast. See acast.com/privacy for more information.

As social media platforms grow it is apparent that they will never be able to make decisions that will appease everyone. We should also recognize that calls for government-induced content moderation will make these platforms battlegrounds for a perpetual intensifying conflict over who gets to silence whom.What is a moral panic? Why are people panicked over fake news? How addictive is social media? What is Section 230 and what implications does it have for social media companies? What is a social media platform?Further Reading:Challenging the Social Media Moral Panic: Preserving Free Expression under Hypertransparency, written by Milton MuellerFalse Assumptions Behind the Current Drive to Regulate Social Media, written by John SamplesWhat Senator Hawley Gets Wrong about American Identity, written by Aaron Ross PowellRelated Content:What Made the Internet Possible?, Building Tomorrow PodcastFree Speech Online: Unfriended, Building Tomorrow PodcastThe Problem with “Fake News”, written by Ryan Khurana Hosted on Acast. See acast.com/privacy for more information.

Steve knows the world has truly gotten better for human beings. Not enough people recognize or appreciate that. We hope that this episode inspires you to help a neighbor or call a friend.How does gratitude compare to resentment? Do we have the mental space to be thinking about the welfare of everyone else? How different are you on social media compared to real life? Why do GoFundMe’s work? Is the demand curve for chemotherapy vertical?Further Reading:Suicide of the West, written by Jonah GoldbergRelated Content:Teaching Economics (with Steve Horwitz), Free Thoughts PodcastThe Dismal Science, Liberty Chronicles PodcastThe Two Sides of Every Regulated Economic Exchange, written by Steve HorwitzThe Best Work/Family Arrangements Come from Families, Not Governments written by Steve Horwitz Hosted on Acast. See acast.com/privacy for more information.

Kevin Currie-Knight joins our podcast to talk about the libertarian case for markets in education. His book, Education in the Marketplace, explores the variety of arguments that libertarians have made in the past as well as the impact that they each have had on the ever-evolving education systemWhat is the government’s role in education? How decentralized did our school system use to be? When did our K-12 education system get so structured? When did we first start seeing grade levels for schooling? Who was Albert Jay Nock?Further Reading:Our Enemy, the State, written by Albert Jay NockEducation in the Marketplace: An Intellectual History of Pro-Market Libertarian Visions for Education in Twentieth Century America, written by Kevin Currie-KnightThe Case against Education: Why the Education System Is a Waste of Time and Money, written by Bryan CaplanRelated Content:The Case Against Education, Free Thoughts PodcastPrivate Lives and Public Education, written by Jason KuznickiThe State of State Education in America, Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

Many Americans believe that foreign military intervention is central to protecting our domestic freedoms. But Christopher J. Coyne and Abigail R. Hall urge engaged citizens to think again. Overseas, our government takes actions in the name of defense that would not be permissible within national borders. Emboldened by the relative weakness of governance abroad, the U.S. government is able to experiment with a broader range of social controls.How do military contractors benefit greatly from U.S. militarism? What is “the boomerang effect”? What is the relationship between domestic citizens and political institutions in the time of increased militarization? What is the interventionist mindset? When did we develop our first SWAT team?Further Reading:Tyranny Comes Home: The Domestic Fate of U.S. Militarism, written by Christopher Coyne and Abigail HallLudwig von Mises on War and the Economy, written by Christopher Coyne and Anne Rathbone Bradley“Tyranny Comes Home” Book Panel, Mercatus CenterTyranny Surveillance State: When Tyranny Comes Home, Mercatus Original VideoRelated Content:The Birth of American Imperialism (with Stephen Kinzer), Free Thoughts PodcastHenry Hazlitt, Encyclopedia of LibertarianismDeconstructing the Surveillance State, Free Thoughts PodcastThe CIA Listens to Free Thoughts, Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

It’s been almost 6 years since we started recording Free Thoughts. We take today to look back on our 300 hours of recording. Nora Powell hosts Trevor and Aaron to discuss how we are fighting for freedom through podcasting. Are you a libertarian because of our show? Please reach out to us so we can meet you and thank you.We would like to thank all of our listeners for staying loyal and engaged each and every week. Cheers!Related Content:Free Thoughts on Free Thoughts: 200 Episodes and Counting, Free Thoughts PodcastPolitics and Community, Free Thoughts PodcastThe Problem of Political Authority, Free Thoughts PodcastWealth, Poverty and Politics: An International Perspective, Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

Daniel Okrent joins the show to talk about his new book, The Guarded Gate, which tells the tells the story of the scientists who argued that certain nationalities were inherently inferior, providing the intellectual justification for the harshest immigration law in American history. Brandished by the upper class Bostonians and New Yorkers—many of them progressives—who led the anti-immigration movement, the eugenic arguments helped keep hundreds of thousands of Jews, Italians, and other unwanted groups out of the US for more than 40 years.What was the Chinese Restriction Act? What is eugenics? When was eugenics applied to certain racial groups? Who was Samuel Gompers? What scientific reasoning did eugenists use? Did the Nazi’s follow American scientists? What does eugenics and birth control have in common? Further Reading:The Guarded Gate: Bigotry, Eugenics, and the Law That Kept Two Generations of Jews, Italians, and Other Europeans out of America, written by Daniel OkrentWhen the government used bad science to restrict immigration, written by David A. HollingerThe Passing Of The Great Race; Or, The Racial Basis Of European History, written by Grant MadisonRelated Content:Science vs. Politics: Vaping, Eugenics, and Other Policy Questions, written by Helen DaleIlliberal Reformers: Race, Eugenics, and American Economics in the Progressive Era, Free Thoughts PodcastGenetics, Encyclopedia of Libertarianism Hosted on Acast. See acast.com/privacy for more information.

Universities aim to be centers of learning that find the best and brightest students, treat them fairly, and equip them with the knowledge they need to lead better lives. But Jason Brennan and Phillip Magness join us today to show how American universities fall far short of this ideal.What is the purpose of college? What are academics getting out of university life? What do students want from their university experience? What is a wage premium? Are students actually learning skills they need? Do employers think that college graduates are lacking writing skills? What is wrong with student evaluations? What would it take to actually measure teacher effectiveness? How is tenure a barrier to entry to the academic field?Further Reading:Cracks in the Ivory Tower: The Moral Mess of Higher Education, written by Jason Brennan and Phillip Magness‘Cracks in the Ivory Tower’, written by Scott JaschikWhen All Else Fails: The Ethics of Resistance to State Injustice, written by Jason BrennanRelated Content:College: Too Costly, Too Little Learning, Too Much Underemployment, Free Thoughts PodcastCracks in the Ivory Tower: A Dispiriting Assessment of Higher Education, written by Aeon SkobleThe Education Apocalypse: How It Happened and How to Survive It, Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

Hello fellow Stranger Things fans! We have a doozy here for you today, as we launch our exciting new project. If you didn’t think we were hip before, think again! Our first show on pop culture, coincides with the release of Stranger Things Season 3. How convenient! Most of us would much rather be playing Dungeon & Dragons and fighting off demodogs rather than working. Guest, Ellie Hamlett, joins hosts Natalie Dowzicky and Landry Ayres to dive in to the many ’80s references made throughout the show. We do not claim to be experts in all things Stranger, but being a super fan must count for something. Stay tuned to the very end where Landry Ayres, newly appointed game host, puts the pressure on Ellie and Natalie to name as many movies from the 1980s as they can. Enjoy!If you like the format of this show, please be sure to leave us comments on our social media platforms. We look forward to exploring more hidden dimensions with you soon! Hosted on Acast. See acast.com/privacy for more information.

Chris Freiman joins us today to argue that the liberal egalitarian rejection of free market regimes rests on a crucial methodological mistake. Liberal egalitarians regularly assume an ideal “public interest” model of political behavior and a nonideal “private interest” model of behavior in the market and civil society.Why do we need the state? What is the free rider problem? What is ideal theory? How did Rawls mix ideal and non-ideal theory when analyzing institutions? What kind of state would we have in a perfectly just world? What kinds of institutional designs is Rawls aiming at? How is voting an expressive behavior?Further Reading:Unequivocal Justice (Political Philosophy for the Real World), written by Christopher FreimanRawls, Ideal Theory, and the Public Goods Argument for the State, written by Christopher FreimanA Theory of Justice, Post-Trump Edition, written by Christopher FreimanRelated Content:A (Revised) Theory of Justice, written by Brian KogelmannThe Federalist No. 10, written by James MadisonThe Virtue of Justice, Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

How did the modern dynamist economy of wealth and opportunity come about? The processes of transformational changes could have started many times in history - but they first became sustained in North-West Europe about 240 years ago. The question of why this happened in that particular place and time is one that has exercised generations of scholars.What is modernity? What is a ‘civilization’? What is considered ‘western civilization’? What is the moral economy? How could you make a living before the Enlightenment? Are there different kinds of modernity? What is economic nationalism?Further Reading:The Wealth Explosion: The Nature and Origins of Modernity, written by Stephen DaviesThe Great Realignment: Understanding Politics Today, written by Stephen DaviesHow the World Got Modern, written by Stephen DaviesRelated Content:David Hume Encyclopedia entryHume and the Politics of Enlightenment, Free Thoughts PodcastThe Politics of Modernism, written by David S. D’Amato Hosted on Acast. See acast.com/privacy for more information.

Over the last forty years, there is a distressing history of foreign insurgent groups being able to manipulate U.S. policymakers and opinion leaders into supporting their cause. Frequently, that support goes far beyond rhetorical endorsements to include financial and even military assistance to highly questionable individuals, organizations, and movements. Sometimes those efforts have even entangled the U.S. military in bloody, unnecessary, and morally dubious wars, as in Kosovo, Iraq, Libya, and Syria.What is a freedom fighter? Why did we consider so many different groups to be freedom fighters? Is foreign policy messy? Should we be allies with reprehensible people to fight the evils of communism? Who was Jonas Savimbi and what was his role with the U.S. in Angola?Further Reading:Gullible Superpower: U.S. Support for Bogus Foreign Democratic Movements, written by Ted Galen CarpenterIs America a Gullible Superpower?, written by Hunter DeRensisSmart Power: Toward a Prudent Foreign Policy for America, written by Ted Galen CarpenterRelated Content:Three Arguments Against War?, written by Jason KuznickiWhat Are the Risks of Terrorism?, Free Thoughts PodcastUnderstanding U.S. Foreign Policy, Free Thoughts PodcastAmerica’s Authoritarian Alliances, Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

This week we welcome Alexandra Natapoff to discuss the various problems with how misdemeanors are handled. Eighty percent of criminal cases filed in our countries are misdemeanors. There are so many places in the misdemeanor system where wrongful convictions are definitely taking place. The system lacks rigor and continues to be sloppy because of it. How powerful is the misdemeanor phenomenon? In the state system, do people think they get a fair trial for a misdemeanor? Is it a big deal to get a misdemeanor? Are misdemeanor fines a source of revenue? Who is profiting off of the state misdemeanor systems? What are the main ways to get a misdemeanor? What is probable cause?Further Reading:Punishment Without Crime: How Our Massive Misdemeanor System Traps the Innocent and Makes America More Unequal, written by Alexandra NatapoffBusted, by Ryan Gabrielson and Topher Sanders at ProPublicaMisdemeanors Matter #2: Alexandra Natapoff on a Legacy of Injustice, Center For Court InnovationRelated Content:Thin Blue Lies: How Pretextual Stops Undermine Police Legitimacy, Free Thoughts PodcastThe Problem of Police Misconduct, Free Thoughts PodcastCruel Alternatives: Respect for Law or Respect for Justice, written by Aeon Skoble Hosted on Acast. See acast.com/privacy for more information.

“The Iron Throne” Photo Courtesy of HBO.comNow that we all have had time to digest the ending of Game of Thrones, we invited Ilya Somin on to the show to do an in depth analysis of not only the ending, but the show in its’ entirety. We cover the political economy of Westeros, possible reasons for the years of economic stagnation, the role of a revolutionary, and the dangers of absolute power.Does Game of Thrones accurately depict how an absolute monarchy worked during medieval times? Does political ignorance occur throughout Game of Thrones? How can we explain economic stagnation in Westeros? Should dragons stimulate economic development? Is Dany a Castro-style Lenin revolutionary? How is ruling different than conquering? Why didn’t the Game of Thrones characters decide to create a democracy at the end?Further Reading:Reflections on “Game of Thrones”, written by Ilya Somin‘This was abysmal’: Nearly 1 million disgruntled ‘Game of Thrones’ fans demand a final season remake, written by Timothy BellaThe Best Takes On Daenerys’ Controversial Decision On ‘Game Of Thrones’, written by Pang-Chieh HoRelated Content:Power and Ideology, written by Douglas HayThe Lust for Power, written by George H. SmithJedi Libertarianism: Lessons on the Nature of Evil from Star Wars, written by Michael F. Cannon Hosted on Acast. See acast.com/privacy for more information.

Russell Muirhead joins us to discuss the difference between conspiracism and conspiracy theory and how it has influence modern political discussions. Classic conspiracy theory insists that things are not what they seem and gathers evidence—especially facts ominously withheld by official sources—to tease out secret machinations. The new conspiracism is different. There is no demand for evidence, no dots revealed to form a pattern, no close examination of shadowy plotters. Dispensing with the burden of explanation, the new conspiracism imposes its own reality through repetition (exemplified by the Trump catchphrase “a lot of people are saying”) and bare assertion (“rigged!”).What makes a theory a conspiracy theory? What is ‘conspiracism’? What is the difference between gossip and news? What are the foundations of society and how are they fragile? Do people care about facts?Further Reading:A Lot of People Are Saying, written by Russell Muirhead and Nancy L. RosenblumThe Promise of Party in a Polarized Age, written by Russell MuirheadConspiracy Without the Theory, written by Russell Muirhead and Nancy L. RosenblumWhy conspiracy theories are getting more absurd and harder to refute, written by Sean IllingRelated Content:The Problem with “Fake News”, written by Ryan KhuranaIn the Pursuit of Self Government, Does Quality News Matter?, Anthony Comegna and Caleb O. BrownThe Coddling of the American Mind, Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

Tyler Cowen joins us to discuss his new book; Big Business: A Love Letter to an American Anti-Hero. Throughout the conversation, Trevor and Aaron ask Tyler about crony capitalism, how Trump engages with big businesses, and the role of CEO’s. Cowen believes that big businesses are actually given a pretty unfair reputation as they create much more value than they are given credit for.Why is big business coming under heavier fire recently? How big is “big business”? Do CEO’s cheat more or less than others? Do you people like going to work and should they? How should big businesses interact with the federal government? How big is the finance world and is it too big? Why is a healthy financial sector important? If big business is good, why is it widely unliked?Further Reading:Big Business: A Love Letter to an American Anti-Hero, written by Tyler CowenConscious CapitalismBig Business Isn’t Big Politics, written by Tyler CowenMarginal RevolutionRelated Content:Why We’re Too Complacent, Free Thoughts PodcastHow Taxation Affects Income Inequality, Free Thoughts PodcastIs Capitalism Pro-Business?, Learn Liberty video with Steven Horwitz Hosted on Acast. See acast.com/privacy for more information.

Eric Mack joins our show again to talk about common objections to libertarianism by dissecting John Rawls view of libertarianism. Many people have reservations about libertarianism because they see it as lacking compassion, but in the long-run people who are on the lowest rung of society do better in a free market system. Some others argue that there isn’t enough substance to libertarianism to live your life in that way, but Eric Mack consistently challenges that point of view throughout the episode. What are the objections to libertarianism? Why was John Rawls not a libertarian? What is the “difference principle”? Does free market economics raise the standard of living? How would libertarians help the ‘worst-off’? Are libertarians lacking compassion? What is a just society?Further Reading:Libertarianism (Key Concepts in Political Theory), written by Eric MackAnarchy, State, and Utopia, by Robert NozickRelated Content:Arguments for Liberty, edited by Aaron Ross Powell and Grant BabcockA Rawlsian Case for Libertarianism, written by Kevin VallierArguments for Liberty: Rawlsianism, Free Thoughts PodcastThe Intellectual Tradition of Libertarianism (with Eric Mack), Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

Now that Endgame has been released, we invited Jacob T. Levy to discuss the series as a whole. We talk about how it is possible to analyze the movies through a political lens, but it is important to remember that the message of many of these movies is metaphorical.Is Tony Stark a war monger? What does the Avengers series say about coercion and the abuse of power? What does society look like under the conditions of radical human ability? How should society function with extreme inequalities? Do super hero movies typically have a clean energy story? How do super heroes relate to liability insurance?Further Reading:Movie Review: Avengers: Endgame, written by Kurt LoderReview: What “Avengers: Endgame” Could Have Been, written by Richard BrodyThe Politics of “Avengers: Endgame”: Thanos, Iron Man, and the Malthusian extreme, written by Matthew RozsaRelated Content:10 Tips to Facilitate Collective Action from Elinor and Vincent Ostrom, written by Jayme LemkeAnarchism Versus Limited Government Abolitionism, written by George H. SmithUnbundling the State, Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

Has the United States been a force for liberty around the world? Should it be? And if so, how? To answer these questions, Christopher A. Preble, in his new book, traces the history of U.S. foreign policy from the American Founding to the present, examining the ideas that have animated it, asking whether America’s policy choices have made the world safer and freer, and considering the impact of those choices on freedom at home. Preble explains the need to question the assumptions that drive American foreign policy in the modern era―especially the assumption that American politicians can and should forcibly remake the international order to suit their desires. What did Hayek think about foreign policy? What is the difference between preventive war and preemption? What should we do about genocide? What was the original purpose of the U.S. military and how has that changed over time?Further Reading:The Power Problem: How American Military Dominance Makes Us Less Safe, Less Prosperous and Less Free, written by Christopher PrebleThe Pentagon’s Accounting Problem, written by Christopher PrebleEnding the War in Afghanistan, written by Christopher PrebleRelated Content:Check back to the website on April 30, 2019 to download a free copy of Christopher A. Preble’s new book; Peace, War, and Liberty: Understanding U.S. Foreign PolicyLibertarianism and War, featuring Christopher A. PrebleThree Arguments Against War, written by Jason KuznickiFree Thoughts/Power Problem Crossover: Are Libertarians Isolationists?, Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

Jason Kuznicki joins us again to discuss the problem of political authority. His new book, Technology and the End of Authority: What is Government For?, examines the relationship between the state and technology over time. Technological developments may make the state more or less necessary over time, which is a consideration that is relatively new in the history of political philosophy, but increasingly important.What is the state? What is a nation? What is the difference between ‘the state’ and government? Why do libertarians oppose coercion? How has the state evolved over time? What is the ‘bundle theory’ of the state?Further Reading:Technology and the End of Authority: What is Government For?, written by Jason KuznickiMax Weber’s Theory of the Modern State, written by Andreas AnterThe Republic, written by PlatoRelated Content:Recognizing the State for What It Is, written by Aaron Ross PowellUnderstanding the Modern State, written by David S. D’AmatoPrivate Lives and Public Education, written by Jason Kuznicki Hosted on Acast. See acast.com/privacy for more information.

No matter how often we debate America’s role in the world, we are not throwing around original ideas. This debate resurfaces each time we decide whether or not to intervene in a foreign country. It was the main discussion amongst Theodore Roosevelt, Henry Cabot Lodge, and William Randolph Hearst who favored imperial expansion while other notable intellectuals; Mark Twain and Andrew Carnegie valued restraint. Stephen Kinzer joins us today to discuss how this original debate unfolded.What is manifest destiny? Who were the expansionists in 1898? Who was Henry Cabot Lodge? Who was William Randolph Hearst? What was Teddy Roosevelt’s view on war? How did the U.S. acquire Puerto Rico and Guam? What is plutocracy?Further Reading:The True Flag: Theodore Roosevelt, Mark Twain, and the Birth of American Empire, written by Stephen KinzerJohn Winthrop Dreams of a City on a Hill, 1630Theodore RooseveltThe Spanish-American War in the Philippines and the Battle for Manilla, American ExperienceRelated Content:The World Wide Revolution, Liberty Chronicles PodcastImperialism, written by Stephen DaviesThe Conquest of the United States by Spain, written by William Graham Sumner Hosted on Acast. See acast.com/privacy for more information.

Joshua Childress joins us today to explain why his growing dissatisfaction of his Customs Border Patrol work led him to resign. He thought he was joining a line of work that was deterring violent actors from entering the United States, but he quickly realized that the people he encountered on the border on a daily basis were not threatening and weren’t fitting the narrative he had been told.What is it like to be a Customs Border Patrol (CBP) agent? How do you train and prepare to become a CBP agent? Who do CBP agents stop at the southern border of the United States? Do migrants understand their constitutional rights? When do CBP agents separate children from their families?Further Reading:Why I Quit the Border Patrol, written by Joshua ChildressThis Border Patrol Agent Resigned After Changing His Mind About Immigration, ReasonTVRelated Content:You Are Now Free to Move About the Planet, Free Thoughts PodcastTrump’s Immigration Crackdown, Free Thoughts PodcastThe Libertarian Argument for Open Borders, written by Grant Babcock Hosted on Acast. See acast.com/privacy for more information.

Throughout the history of America, we have used a variety of methods to tax the income of the public. Prior to the World War II only a fraction of the population actually made enough money to reach a taxable threshold. However, during and after the war, that threshold was lowered so much that about 90% of the population qualified for taxes to be automatically deducted from their paycheck. With that being said, there was also more deduction opportunities than their are today to avoid a large tax bill.What assumptions do we make about income inequality? Is economic inequality inherently bad? How high is income inequality in the U.S.? What is a marginal tax rate? What is tax planning? What is modern monetary theory and what is it missing?Further Reading:Anti-Piketty: Capital for the 21st Century, edited by Jean-Philippe Delsol, Nicolas Lecaussin, & Emmanuel MartinCapital in the Twenty-First Century, written by Thomas PikettyRelated Content:What Paul Krugman Got Wrong About Alexandria Ocasio-Cortez’s 70% Tax Rate, written by Michael MakoviTaxation: How the Government Funds Itself, Free Thoughts PodcastA Libertarian Approach to the Green New Deal, Building Tomorrow Podcast Hosted on Acast. See acast.com/privacy for more information.

James Madison would have turned 268 on March 16, 2019 so we dedicated a whole episode to him! Even though Madison was not a great president (be sure to check out our upcoming profile of him as part of our Everything Wrong with the President’s Series), he was a great American. He was skeptical about who he trusted, which made him ever-cautious of who to create alliances with. Also, he would be disappointed to learn that war has become a permanent backdrop to the conduct of federal affairs.Is impeachment a key remedy according to James Madison? What did James Madison think about going to war? What did Madison think of having a standing army? What did James Madison think of the Electoral College?Further Reading:Indispensable Remedy: The Broad Scope of the Constitution’s Impeachment Power, written by Gene HealyRepeal, Don’t Replace, Trump’s War Powers, written by Gene Healy and John GlaserRemembering James Madison, written by John SamplesRelated Content:The Federalist No. 10, written by James MadisonJames Madison’s Vision of Liberty, written by John SamplesJames Madison and the Simple Truths of Classical Liberalism, written by Donald Kochan Hosted on Acast. See acast.com/privacy for more information.

Jonathan Blanks returns to our show to discuss how different versions of liberty were promoted by Martin Luther King, Jr. and Malcolm X during the Civil Rights Movement. Malcolm X was very weary of trusting authority, which is seen as a favorable trait by libertarians. The discussion then shifts to whether or not racism has improved since the Civil Rights Movement and how that affects how we view law enforcement.How is Malcolm X portrayed to the American public? Is the American government hypocritical? Was Malcolm X a libertarian? What type of liberty did Malcolm X promote? What qualifies as police harassment? Why do police have a higher presence where more crimes are committed? Do people generally trust the police? Have we made any progress when it comes to racism?Further Reading:The Autobiography of Malcolm X, written by Malcom XLawsuit: Car Passenger Tased 11 Times, Criminally Charged Asking Officer “Why”, written by Jonathan BlanksAbuse of Force: Body Camera Shows Man Tased 11 Times by Glendale Officers, written by Dave BiscobingFIRST STEP Passes Senate, written by Jonathan BlanksRelated Content:Black History and Liberty, written by Jonathan BlanksLooking Back to Look Forward: Blacks, Liberty, and the State, written by Jonathan BlanksWhy Aren’t There More Black Libertarians?, Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

Tim Carney joins us to discuss the premise of his book; how the decline of the American dream it is not purely the result of economics as the left claims, but the collapse of the institutions that made us successful, including (but not limited to): marriage, church, and civic life. While the well-educated and wealthy elites still enjoy strong communities, most blue-collar Americans lack strong communities and institutions that bind them to their neighbors.Why is Donald Trump’s innaguration speech labelled “America’s carnage” speech? How has the collapse of local communities affected the American people? What is economic mobility? Why has the decline of the Church occurred? What is the main institution of civil society? What adds to increased involvement in the community?Further Reading:Alienated America: Why Some Places Thrive While Others Collapse, written by Tim CarneyCan Trump Fix ‘Alienated America’?, written by Alexandra DesanctisHow Will Alienated America Save For Retirement?, written by Elizabeth BauerRelated Content:Libertarianism & Christianity, Free Thoughts PodcastPolitics and Community, Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

Revisiting the root of our ideas in freedom and liberty, Eric Mack argues that everyone has a claim to liberty because it represents the possibility to live a valuable life. With that being said, people believe in varying degrees of liberty, even libertarians. Mack believes that libertarians encompass a wide spectrum of thought ranging from classical liberal to anarchists. What is libertarianism? What are the fundamental principles of justice? What is a political good? Are anarchists libertarians? Are classical liberals libertarians? Are all libertarians against coercion? Who is Herbert Spencer?Further Reading:Libertarianism (Key Concepts in Political Theory), written by Eric MackThe Libertarian Mind, written by David Boaz10 Books Every Libertarian Should Read, written by Madsen PirieRelated Content:A Natural Rights Case for Libertarianism, written by Eric MackArguments for Liberty, edited by Aaron Ross Powell & Grant BabcockWhat is Libertarianism?, Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

Lenore Skenazy let her son ride the metro by himself at the age of nine after studying the map with him in order to prepare. Unbeknownst to her, this caused great unrest and scrutiny from a variety of parenting groups, so much so that she decided to write a book and start a project on letting your kid grow to be self-reliant.Should children ride the NYC subway by themselves? When did children stop having unsupervised and unstructured time? What did ‘strange danger’ do to change the way we parent? What are the consequences of over-parenting?Further Reading:Let Grow Website, founded by Jonathan Haidt, Peter Gray, Lenore Skenazy, and Daniel SchuchmanThe Fragile Generation, written by Lenore Skenazy and Jonathan HaidtFree-Range Kids, How to Raise Safe, Self-Reliant Children (Without Going Nuts with Worry), written by Lenore SkenazyJonathan Haidt Lets His 9-Year-Old Daughter Walk to School Alone for the First TimeLet Grow projectRelated Content:The Coddling of the American Mind, Free Thoughts PodcastConformist Students Fear Disagreement, written by Natalie Dowzicky Hosted on Acast. See acast.com/privacy for more information.

Drinking alcohol and smoking cigarettes are legal activities, but politicians use the law in order to discourage people from doing these things that may seen as poor for your health. This is inconsistent with John Stuart Mill’s famous principle that people should be free in the sense that they should be able to do whatever they like as long as they are not harming others.What is paternalism? Should we take care of those who do not know any better for themselves? Are there different types of paternalism? What is considered coercion? Should the government enforce vaccinations for the purpose of collective action? Should the government worry about public health?Further Reading:Killjoys: A Critique of Paternalism, written by Christopher SnowdenNudge: Improving Decisions About Health, Wealth, and Happiness, written by Richard H. Thaler and Cass R. SunsteinRelated Content:“Libertarian” Paternalism?, Free Thoughts PodcastPaternalism and Barbarism, written by Aaron Ross PowellAgainst Paternalism, written by Neera K. Badhwar Hosted on Acast. See acast.com/privacy for more information.

In Candice Delma’s book A Duty to Resist she highlights a theory of resisting injustice as a duty in of itself. This specific duty could require breaking the law. She also defends uncivil disobedience and where it is limited in feasibility. Throughout this episode she makes us question how far we should go in order to fight an injustice. Delmas argues that the duty of justice, the principle of fairness, the Samaritan duty, and political association impose responsibility to resist under conditions of injustice.What is civil disobedience? How did John Rawls shape our understanding of civil disobedience? What is a just society? What are the principles of justice? Should disobedience always be civil?Further Reading:A Duty to Resist, written by Candice DelmasSamaritanism and Civil Disobedience, written by Candice DelmasRelated Content:Resisting the State Injustice, Free Thoughts PodcastDo We Have a Duty to Obey the Government?, Free Thoughts PodcastWhat’s Fairness Got to Do With Obeying the Law?, written by Aaron Ross Powell Hosted on Acast. See acast.com/privacy for more information.

As the American “foodie” culture grows, it will clash more and more with previously established USDA and FDA rules and regulations since they typically promote uniformity. The USDA has taken it upon themselves to enforce standards of identity laws which allows them to basically enforce cosmetic standards. These laws encourage farmers to produce foods that are uniform and look gorgeous, but neither of these measurements have anything to do with the quality or taste of the product. Throughout history the FDA has certainly made the food we eat safer, especially now that it can perform a mandatory recall of any food that they know contains an illness, but that was not always the case.How does the USDA affect the way that we produce food in the U.S.? Should USDA laws and regulations be imposed subjectively by inspectors? Can you challenge USDA regulations? What is the Food Safety Modernization Act? Does regulating how we produce food actually make food safer to consume? Should the FDA have a preemptive or reactive approach when it comes to food? Should farmers receive subsidies?Further Reading:Biting the Hands that Feed Us: How Fewer, Smarter Laws Would Make Our Food System More Sustainable, written by Baylen J. LinnekinThe State of Food Freedom Around the Globe, written by Baylen LinnekinDeregulation of Local Foods Is a Winning Idea That’s Spreading, written by BaylenRelated Content:How Food Regulations Make Us Less Healthy, featuring Daniel J. D’AmicoRegulations Gone Wrong, Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

As more states aim to legalize marijuana, whether it be for recreation or medicinal purposes, there is an on-going talk debate about if public policy should determine what pleasures are okay to indulge in and which ones are not. Jeff Miron joins us today to discuss drug prohibition actually hurts the naive drug user the most. Are drugs an economic good? What is the economic logic of prohibition? How much does drug prohibition cost? Did alcohol use go down during prohibition? Are drug companies trying to make their products more addictive in order to drive revenue?Further Reading:The Budgetary Effects of Ending Drug Prohibition, written by Jeffrey MironData Confirm That Marijuana Decriminalization is Long Overdue, written by Jeffrey Miron and Sietse GoffardRelated Content:Is the DEA Trippin’?, with Rick Doblin, Free Thoughts PodcastHow Drug Prohibition Caused the Opioid Crisis, Free Thoughts PodcastThe Case for Legalizing Hard Drugs, written by Jarrett Wollstein Hosted on Acast. See acast.com/privacy for more information.

Peter Van Doren argues that consumers correctly consider fuel costs when making vehicle-buying decisions. However, CAFE standards cannot be justified as correcting some sort of consumer failure to appreciate fuel savings. The idea that CAFE reduces carbon emissions is slightly more reasonable, but it is a very indirect, inefficient and regressive method. For these reasons, it is difficult to not side with Trumps’ negative view of CAFE.What is CAFE? How does regulation affect markets? How did Richard Nixon use price controls? Is Trump the great deregulator?Further Reading:Regulation without Results, written by Peter Van DorenCAFE Standards, written by Peter Van DorenRelated Content:Regulations Gone Wrong, Free Thoughts PodcastThe Implications of Behavioral Economics, Free Thoughts PodcastWhat Role Should Science Play in Public Policy?, Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.

Prior to the 2008 financial crisis, the Federal Reserve had a long-standing policy of maintaining a minimal footprint on the credit system. According to Selgin, the Fed use to be a “lean and mean” player in the credit system. However, on the eve of the 2008 financial crisis they made some changes to decades’ old policies that they believed would aid the financial instability of the country at the time. In retrospect, we can now deeply analyze where the Federal Reserve misstepped. What is the Federal Reserve? What are mandatory reserves? What is the chevron deference? What did emergency lending have to do with the 2008 financial crisis? Is the Fed more constrained than private banks?Further Reading:Floored!: How a Misguided Fed Experiment Deepened and Prolonged the Great Recession, written by George SelginAnniversary of a Fed Blunder, written by George SelginInterest on Excess Reserves: The Hobie Cat Effect, written by George SelginThe Fed’s Recent Defense of Interest on Reserves, written by George SelginRelated Content:How the Federal Reserve Works, Free Thoughts PodcastThe Gold Standard Won’t Be Coming Back, Free Thoughts Podcast Hosted on Acast. See acast.com/privacy for more information.