In this episode, I talk with Dr. Caleb Fuller, associate professor of economics at Grove City College, about several popular economic fallacies, including:

• Corporate greed causes inflation
• Price controls are an effective way of “controlling” said inflation
• The minimum wage is a free lunch to low-skilled workers
• Racial discrimination is costless to the discriminator
• China is “beating” us at trade
• Rent control expands housing availability for the poorest
• Trade or immigrants “steal” domestic jobs
• Women earn less than men for performing the same work

 We also discuss the history of the Austrian school, why Christians need to study economics, and some suggested reading material for those who want to do further research. This is a massive episode that demonstrates how easy it is for economic myths to be widely accepted and why we need to think more carefully about the economy. Check it out!

Media Referenced:

Our Economic Illiteracy: https://mises.org/wire/our-economic-illiteracy

No Free Lunch: https://a.co/d/2Dvv12D

Caleb Fuller’s Website: https://calebsfuller.com/

Caleb Fuller on Twitter: @CalebSFuller

The Protestant Libertarian Podcast is a project of the Libertarian Christian Institute and a part of the Christians For Liberty Network. The Libertarian Christian Institute can be found at www.libertarianchristians.com.

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