

Capital Record
National Review
American prosperity was built on a foundation of free markets and free people. But, with inflation on the rise and a struggling market, many in America’s political class are attempting to recycle failed socialist ideas and calling for government intervention in nearly every aspect of American life. In this National Review Capital Matters podcast, presented by the National Review Institute, financier David Bahnsen hosts interviews with the nation’s top business leaders, entrepreneurs, and financial commentators. Tune in to hear guests such as Larry Kudlow, Steve Forbes, and Art Laffer present a practical and moral vindication of America’s capitalist way of life.
Episodes
Mentioned books

Oct 9, 2025 • 10min
Episode 261: New Japanese Prime Minister Sounds Full Time to Me”
Sanae Takaichi is not just set to be the first female prime minister of Japan -- and someone whose childhood hero was the legendary Margaret Thatcher. She also launched her global claim to fame by saying she “wanted to abandon the idea of work-life balance” and planned to “have everyone work like a workhorse.” Well, this has generated some push back from people who are apparently happy with Japan’s 0 percent real GDP growth for over 30 years. In today’s episode, David analyzes why Takaichi is starting off as his favorite leader on the planet. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Oct 2, 2025 • 12min
Episode 260: Did the Financial Crisis Make Socialism Great Again?
As New York City prepares to elect Mamdani as mayor and young people across college campuses tout the miseries of “capitalism,” is the financial crisis of 2008 to blame for a paradigm shift in public sentiment? In this episode, David unpacks the truth of the narrative that everything changed that year. Show notes:The Rise of America’s Young Socialists—From the 2008 Financial Crisis to Mamdani Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Sep 25, 2025 • 18min
Episode 259: AI and the Challenges for all Free Marketeers
The artificial intelligence moment is a perfect opportunity for free marketeers to defend market innovations and technological progress, but also a challenging moment to question the role of the state, the impact on society, and the errors in moving with speed but not wisdom. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

8 snips
Sep 23, 2025 • 15min
Episode 258: The NatCon Movement Got Played
The podcast delves into the National Conservatism movement, uncovering contradictions in their manifesto about free enterprise. Host David L. Bahnsen critiques how their initial ideals have been compromised, revealing the unintended consequences of their advocacy. The discussion focuses on how ambiguous language has paved the way for crony capitalism and state interventions. Listeners are treated to a thought-provoking analysis of how movements may empower the very issues they aim to combat.

Sep 18, 2025 • 12min
Episode 257: Baby and Bathwater
David looks at the danger that happens when we use hasty generalizations in our economic thinking. A company does something bad? Companies are bad. A business deal goes bad? Business deals are bad. A trading partners does wrong? Trading partners are bad. The illogical movement from a particular to a universal is flawed thinking, but when it gets put into practice, it undermines optimal economic outcomes and ignores the most basic of economic principles. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Sep 16, 2025 • 26min
Episode 256: Enemies Foreign & Domestic
Today’s episode goes into David’s Dividend Cafe to look at the desire of the 9/11 terrorists to strike at our nation’s financial markets, and makes the case that a love of country means a love of capital markets.https://bahnsen.co/47JU4Vn Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Sep 9, 2025 • 11min
Episode 255: Does a Moral Culture Spend $40 Billion on Youth Sports?
David delves into the reality of youth (sports) gone wild, whether or not market forces should restrain this phenomenon gone mad, and where rightly centered and ordered priorities might create the optimal virtuous outcome. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

10 snips
Sep 4, 2025 • 39min
Episode 254: Making a Bad Idea Tariffable
Joel Griffith, a Senior Fellow at Advancing American Freedom and an expert on economic policy, joins the conversation. He critiques the current tariff regime, labeling the idea of tariff rebates as nonsensical. The discussion highlights the negative repercussions of recent trade deals on American consumers and the geopolitical mess created by tariffs on Indian imports. They argue that protectionist policies fail to address deeper societal issues, such as declining fertility rates, and advocate for sound economic principles instead of expanding entitlements.

8 snips
Aug 28, 2025 • 45min
Episode 253: What’s New Is Old: Unpacking New Right Populist Economic Arguments
Richard Reinsch, a commentator on conservatism and author of 'Reading the New Conservatives,' joins to discuss the resurgence of right-wing populism. The conversation reveals that today's economic arguments aren't as new as they seem. They explore the clash between consumer-focused policies and worker needs, the risks of increased government intervention in business, and the complexities of trade, especially with China. Reinsch critiques corporate advocacy within politics, pushing for a redefined consumer welfare standard to foster a more inclusive economy.

16 snips
Aug 26, 2025 • 11min
Episode 252: Work-Life Balance Disorder
Unpacking the controversial idea that 'work-life balance' can lead to mediocrity, the discussion dives into the relationship between work and human flourishing. It emphasizes work as a vital, creative force tied to individual fulfillment and civilization. The speakers challenge conventional wisdom, asserting that an engaged approach to work enhances life rather than detracts from it. This thought-provoking conversation invites listeners to reconsider their own views on productivity and personal satisfaction.