Words & Numbers

People tend to talk about income inequality as if it were necessarily a bad thing. In so doing, they often confuse inequality and poverty and, in the process, run the risk of justifying what is really envy. This week, James and Ant discuss the fact that poverty is a bad thing, whether inequality could be a bad thing, and that politicians use voters’ envy to expand the government’s power. Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick hits HELPER https://www.marketwatch.com/story/rand-paul-to-offer-bill-allowing-families-to-use-retirement-savings-for-student-loans-2019-12-04 How much Americans have in 401k plans, by age https://www.cnbc.com/2019/05/23/how-much-money-americans-have-in-their-401ks-at-every-age.html 401k returns https://money.usnews.com/money/retirement/401ks/articles/what-is-the-average-401-k-return Student loan interest rates https://www.nerdwallet.com/blog/loans/student-loans/student-loan-interest-rates/ Bernie’s now a millionaire https://www.scmp.com/news/world/united-states-canada/article/3006320/critic-millionaires-and-billionaires-bernie-sanders Foolishness of the week A national smoking age https://www.cnn.com/2019/12/20/health/tobacco-age-21-trump-spending-bill-bn/index.html https://disrn.com/news/congress-votes-to-raise-age-to-buy-tobacco-to-21 Topic of the week US poverty rate https://poverty.ucdavis.edu/faq/what-current-poverty-rate-united-states Facts about income mobility https://www.aei.org/carpe-diem/some-amazing-findings-on-income-mobility-in-the-us-including-this-the-image-of-a-static-1-and-99-percent-is-false/ Inequality after taxes and transfers https://voxeu.org/article/income-redistribution-through-taxes-and-transfers Inheriting wealth https://www.forbes.com/sites/rainerzitelmann/2019/06/24/amazing-facts-that-prove-inheritance-is-mostly-overrated-as-a-reason-for-wealth/#39759c11eca3 Intergenerational income https://www.pewtrusts.org/~/media/legacy/uploadedfiles/pcs_assets/2012/pursuingamericandreampdf.pdf Join the conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ Let us know what you think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitter https://twitter.com/JamesRHarrigan Learn more about your ad choices. Visit podcastchoices.com/adchoices

A year ago, FCC repealed net neutrality - the law that required internet service providers to treat all data passing through their servers the same. Proponents of net neutrality said that the repeal would yield higher prices and worse service. In this week's episode James and Ant ask what actually happened. Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick hits Billion dollar property tax error https://www.nytimes.com/2019/11/27/business/ups-drugs-tucson-arizona.html Jeff Bezos’ Blue Origin https://www.blueorigin.com/ Richard Branson’s first space passenger https://www.cnbc.com/2019/02/22/richard-bransons-virgin-galactic-sends-first-test-passenger-on-spaceflight.html Amazon’s satellite constellation https://www.geekwire.com/2019/amazons-project-kuiper-oneweb-raise-curtain-higher-satellite-plans/ Foolishness of the week UK to require that food labelling tell consumers how much exercise they must do to burn off calories https://www.bbc.com/news/health-50711652 Topic of the week Download speeds https://www.speedtest.net/reports/united-states/ https://www.bandwidthplace.com/pennsylvania/ https://www.bandwidthplace.com/ohio/ https://www.bandwidthplace.com/georgia/ https://www.bandwidthplace.com/california/ https://www.bandwidthplace.com/new-york/ Price of residential internet service https://fred.stlouisfed.org/series/WPU374102 Warnings people gave about repealing net neutrality https://www.independent.co.uk/life-style/gadgets-and-tech/net-neutrality-what-is-it-repeal-latest-meaning-define-trump-internet-rules-why-explained-a8563616.html https://www.realclearpolicy.com/articles/2019/02/18/net_neutrality_is_gone_did_you_even_notice_111056.html https://issuesinsights.com/2019/06/10/one-year-later-the-internet-thrives-without-net-neutrality/ Join the conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ Let us know what you think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitter https://twitter.com/JamesRHarrigan Learn more about your ad choices. Visit podcastchoices.com/adchoices

Large countries, like the United States, span multiple time zones and have multiple climates. They also have multiple economies, each with different price levels. Prices in New York City are very different from prices in Boise Idaho - typically higher. But wages in New York City are higher also, but then so too are taxes, and so too is the likelihood of being employed. In this episode, James and Ant talk about differences in the costs of living across US cities. Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick hits UPS drug runners https://www.nytimes.com/2019/11/27/business/ups-drugs-tucson-arizona.html Average person can tolerate family members for four hours https://www.studyfinds.org/breaking-point-average-person-cant-last-four-hours-with-their-family-over-the-holidays/ Foolishness of the week Washington College cancels anti-rascist play https://reason.com/2019/12/03/washington-college-the-foreigner-censorship-students-kkk-racism/ Regional price parity index https://www.bea.gov/news/2019/real-personal-income-states-and-metropolitan-areas-2017 Topic of the week Differences in the costs of living across the country https://www.businessinsider.com/cost-of-living-san-francisco-compared-to-other-cities Join the conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ Let us know what you think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitter https://twitter.com/JamesRHarrigan Learn more about your ad choices. Visit podcastchoices.com/adchoices

One of the few enumerated powers that the Founders granted to the federal government was the power to issue patents. Patents are a compromise between two conflicting goals. On the one hand, we want to avoid the creation of government-protected monopolies because monopolies stifle innovation. On the other, we want entrepreneurs to have an incentive to innovate. And one way to incentivize entrepreneurs is to grant monopoly protection for their inventions. Patent law is an attempt to balance these two conflicting goals, but the balance presents trade offs. Weaker patent laws mean cheaper goods today but a lesser variety of goods tomorrow; stronger patent laws mean more expensive goods today but a greater variety of goods tomorrow. Show your support for Words & Numbers at Patreon: https://www.patreon.com/wordsandnumbers Quick hits Why did the South Bronx burn? https://www.latinousa.org/2019/02/06/decadeoffire/ A history of NYC rent control https://www.crainsnewyork.com/article/20100610/BLOGS01/306109998/a-history-lesson-on-rent-regulation-in-the-1970s Property tax https://fox4kc.com/2019/11/28/kansas-city-woman-angry-about-her-property-taxes-paying-with-nickels/amp/ Merchants taking dollars https://theconversation.com/if-cash-is-king-how-can-stores-refuse-to-take-your-dollars-63516 https://abcnews.go.com/Blotter/businesses-taking-benjamins-baby/story Foolishness of the Week Michael Bloomberg and “those people” https://www.realclearpolitics.com/video/2018/05/24/bloomberg_regressive_taxes_on_the_poor_a_good_thing.html Topic of the Week The Constitution and Patents https://www.ipwatchdog.com/2017/11/14/constitutional-underpinnings-patent-law/id=90190/ Join the Conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ Let us know what you think! Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitter https://twitter.com/JamesRHarrigan   Learn more about your ad choices. Visit podcastchoices.com/adchoices

Sometimes, the things we take for granted are the things we should be most thankful for. Football games on your television, climate control in your automobiles, and fully-stocked neighborhood grocery stores are among the many things we may not think about until they aren’t there. What do the data indicate about our modern standard of living? Who is responsible for the advancements in medicine and technology that have improved so many lives? Which historical scourges are functionally nonexistent today? Join Antony Davies and James Harrigan in giving thanks to the many improvements in life on this week’s episode of Words & Numbers. Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick hits Government grocery store https://www.washingtonpost.com/nation/2019/11/22/baldwin-florida-food-desert-city-owned-grocery-store/ Conservatism stresses students https://www.thecollegefix.com/intellectual-conservatism-group-denied-may-cause-stress-to-the-student-body/ Foolishness of the week Abolish the electoral college https://www.bostonherald.com/2019/11/20/joe-kennedy-iii-wants-to-abolish-the-electoral-college/ Topic of the week: Thanksgiving A Series of Miracles https://www.faithandfreedom.com/a-series-of-miracles/ State Car Registration by Year https://www.fhwa.dot.gov/ohim/summary95/mv200.pdf Office of Highway Policy Information https://www.fhwa.dot.gov/policyinformation/statistics/2015/mv1.cfm Household's Owners Equity  https://fred.stlouisfed.org/series/OEHRENWBSHNO Mortality in the US https://budgetmodel.wharton.upenn.edu/issues/2016/1/25/mortality-in-the-united-states-past-present-and-future Mortality & Causes of Death https://www.ncdemography.org/2014/06/16/mortality-and-cause-of-death-1900-v-2010/ Join the conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ Let us know what you think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitter https://twitter.com/JamesRHarrigan Learn more about your ad choices. Visit podcastchoices.com/adchoices

James and Antony record before a live audience at Truman State University, asking the question, “Is Capitalism moral?” Their answer wends its way through the definition of morality, whether morality requires a religious basis, whether markets beget or reflect morality, whether self-interest is immoral or a motivator that can be harnessed to encourage people to want to help each other. Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick hits Chicago library drops fines https://www.goodnewsnetwork.org/chicago-first-to-ditch-overdue-library-fees/ Ohio allows wrong answers https://www.newsweek.com/ohio-student-religious-liberties-act-1472008 Foolishness of the week Billionaires’ tears https://shop.elizabethwarren.com/products/billionaire-tears-mug Topic of the week: The morality of capitalism Paul Ryan’s Catholicism and the poor https://www.wsj.com/articles/SB10000872396390444375104577592892933747400 Ethics and the economy https://www.jstor.org/stable/20753439?seq=1#page_scan_tab_contents Join the conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ Let us know what you think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitter https://twitter.com/JamesRHarrigan Learn more about your ad choices. Visit podcastchoices.com/adchoices

The US health care system is rife with many variables affecting the prices of and access to medical care. iHealth is a health care provider that does not take health insurance and is transparent about its prices. Is there a regulatory framework that allows for such a business to be successful? Would this model work for the rest of the country? What barriers are in place that prevent other physicians from doing business like iHealth? Join James Harrigan, Antony Davies, and their special guest Dr. Timothy Wong, the founder of iHealth, as they parse out the complexities behind the economics and politics of the health care industry.  Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick hits Texas voters ban the state income tax https://www.dallasnews.com/news/politics/2019/11/06/early-texas-voters-leaning-toward-supporting-ban-on-state-income-tax/ State-Local Tax Burden Rankings FY 2012 https://taxfoundation.org/publications/state-local-tax-burden-rankings/ 9 States With No Income Tax https://www.kiplinger.com/slideshow/taxes/T054-S001-states-without-income-tax/index.html Texas Voters Ban Income Tax Again https://reason.com/2019/11/06/texas-voters-ban-state-income-taxes-again/ The trade gap https://www.msn.com/en-us/money/markets/trump-vowed-to-shrink-the-trade-gap-it-keeps-growing/ar-AAJTqg9 Foolishness of the week Michael Bloomberg running for President https://apnews.com/461efe170a174c4fb9446951c164537e Jeff Sessions running for the Senate https://www.foxnews.com/politics/jeff-sessions-trump-first-ad-alabama-trump Topic of the week: A new model for delivering primary health care iHealth Clinic https://ihealth.clinic/ Direct Access Primary Care https://directaccessprimarycare.com/ A flat-fee approach to paying for health care https://www.post-gazette.com/business/healthcare-business/2019/08/26/Doctor-Timothy-Wong-insurance-flat-fee-primary-care/stories/201908250045 Join the conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ Let us know what you think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitter https://twitter.com/JamesRHarrigan Learn more about your ad choices. Visit podcastchoices.com/adchoices

Using a historical definition of the term, socialism designated a political system where the government owns the means of production. However, for many people, the word has evolved into something different. Do today’s young people believe in government ownership of property or redistribution of positive results? What has changed the traditional sense of socialism? Has the Supreme Court weighed in on any social programs? Join James Harrigan and Antony Davies as they ponder these questions and more on this week’s episode of Words & Numbers.  Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick hits Enzymes eat plastic https://www.goodnewsnetwork.org/factory-uses-enzymes-to-recycle-all-plastics-at-once-backed-by-major-companies/ Anti-inflamatory drugs and depression https://www.healio.com/primary-care/psychiatry/news/online/%7B649c6090-c2d2-4b42-800d-9f63fabf862c%7D/anti-inflammatory-drugs-improve-depression Foolishness of the week Senate rejects Rand Paul’s proposal to cut spending by 2 percent https://thehill.com/blogs/floor-action/senate/467817-senate-rejects-paul-effort-to-cut-spending Topic of the week: Transferism Join the conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ Let us know what you think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitter https://twitter.com/JamesRHarrigan     Learn more about your ad choices. Visit podcastchoices.com/adchoices

Many attention-grabbing headlines talk about laws restricting speech. It seems some legislators don’t know the constitutionality of these proposed laws. What are the ramifications of passing laws such as these? Are these laws justified under some legal doctrines? What’s the rationale behind these propositions? Join Antony Davies and James Harrigan as they dig into these proposed laws and more on this week’s episode of Words & Numbers. Show your support for Words & Numbers at Patreon https://www.patreon.com/wordsandnumbers Quick hits California blackouts https://www.cnbc.com/2019/10/23/pge-rebuked-over-imposing-blackouts-in-california-to-reduce-fire-risk.html https://www.nytimes.com/2019/09/29/business/california-fire-insurance.html Portland is surprised that a retail tax causes retail prices to rise https://www.americanexperiment.org/2019/10/portland-voters-put-a-1-tax-on-large-retailers-complain-when-retailers-pass-it-on-to-them/ Foolishness of the week Woke math https://reason.com/2019/10/22/seattle-math-oppressive-cultural-woke/?fbclid=IwAR2ZEAmWBlm0KnxvWblTthoNsuPG39Qx-eNMp_dn1GdmdKztww_QZMB1YFU https://www.k12.wa.us/sites/default/files/public/socialstudies/pubdocs/Math%20SDS%20ES%20Framework.pdf Topic of the week: First Amendment https://www.americanexperiment.org/2019/10/portland-voters-put-a-1-tax-on-large-retailers-complain-when-retailers-pass-it-on-to-them/ https://www.courant.com/news/connecticut/hc-news-uconn-rally-racist-video-20191021-fmpaw34gzzcqtipztwv45tieca-story.html https://reason.com/2019/10/23/the-connecticut-hate-crimes-law-used-to-charge-two-idiot-college-students-would-ban-family-guy-too/ https://www.boston.com/news/policy/2019/10/22/proposed-massachusetts-law-would-ban-b-word Join the conversation Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ Let us know what you think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitter https://twitter.com/JamesRHarrigan Learn more about your ad choices. Visit podcastchoices.com/adchoices

  It’s debate season, and speculation about who will be the next president has already begun. Looming over the current president are constant calls for impeachment and reports on alleged wrongdoings which may diminish his chances for reelection. So, who are the best candidates and their running mates? Is impeachment a criminal or a political procedure? What kind of candidate are many Americans looking for? Join James Harrigan and Antony Davies as they offer their assessment of the next presidential election and more on this week’s episode of Words & Numbers. Quick hits: Difference between a signatory and a party http://www.insidejustice.com/intl/2010/03/17/signatory_party_treaty/ Major cities that have peaked their carbon emissions https://www.c40.org/press_releases/30-of-the-world-s-largest-most-influential-cities-have-peaked-greenhouse-gas-emissions Mad Dog Mattis and the Debt https://www.politics-prose.com/video/call-sign-chaos-jim-mattis Foolishness of the week: San Francisco's Office of Emerging Technology https://www.sfexaminer.com/news/sf-to-establish-office-of-emerging-technology/?fbclid=IwAR2Txda5zSvC_YEblel4JVpZ8hm1hgDOKVbXHmGK4_syDb0Vm__ThwJrzcQ Topic of the week: Politically Smart Moves: Giuliana’s associates arrested https://www.wsj.com/articles/two-foreign-born-men-who-helped-giuliani-on-ukraine-arrested-on-campaign-finance-charges-11570714188 Bi-partisan presidential tickets https://www.bustle.com/articles/160298-do-presidents-vice-presidents-have-to-be-from-the-same-party-a-bipartisan-attempt-isnt Join the conversation: Words & Numbers Backstage https://www.facebook.com/groups/130029457649243/ Let us know what you think mailto:wordsandnumberspodcast@gmail.com Antony Davies on Twitter https://twitter.com/antonydavies James R. Harrigan on Twitter https://twitter.com/JamesRHarrigan Learn more about your ad choices. Visit podcastchoices.com/adchoices