Free Thoughts

What would the American founders think of our taxation system today, given America’s origins? Daniel Mitchell answers this and other questions as we talk about the different kinds of tax schemes and the different incentives they offer taxpayers.Why is doing taxes so complicated? Why are there so many exemptions, deductions, incentives, preferences, etc. in the tax code? Are the rich paying their “fair share” of taxes? What’s the Laffer Curve and how does it work? What are consumption taxes and why are they better for the long term growth of the economy? Hosted on Acast. See acast.com/privacy for more information.

Nobel laureate Friedrich Hayek's life, ideas, and his famous book 'The Road to Serfdom' are discussed. The concept of spontaneous order, the dangers of government planning, the interventionist dynamic, and the limits of human design are explored. Language development, rational constructivism, and Hayek's views on societal norms and traditions are also covered.

This week we are joined by Peter J. Boettke, who explains this history and tenets of the Austrian tradition in economics. Boettke traces the school’s history from Carl Menger through Eugen Böhm-Bawerk and Joseph Schumpeter, Ludwig von Mises, Friedrich Hayek, and Murray Rothbard to contemporary economists such as Israel Kirzner, Vernon Smith, and Mario Rizzo. He explains what Austrian economics does and does not do, and distinguishes between what he calls “mainline” economics and “mainstream” economics.What distinguishes Austrian economics from other schools of thought in economics? How did the Austrian school come to be known as the free market school?Show Notes and Further ReadingPeter J. Boettke, Living Economics: Yesterday, Today, and Tomorrow (book) Hosted on Acast. See acast.com/privacy for more information.

This week Bernard B. Kerik joins us to offer his perspective on criminal justice in America. Mr. Kerik was the New York City Police Commissioner from 2000 to 2001, and was later sentenced to four years in federal prison in 2010 for criminal conspiracy and tax fraud. He shares his experience in prison and how his own incarceration influenced the way he sees the American justice system today.Show Notes and Further ReadingBernard B. Kerik, From Jailer to Jailed: My Journey from Correction and Police Commissioner to Inmate #84888-054 (book) Hosted on Acast. See acast.com/privacy for more information.

This week we’re joined by Grover Norquist for a frank discussion about every libertarian’s favorite part of the government: its tax-collection arm. Norquist shares how he got into politics, the idea behind his infamous tax pledge, and his plan for reining in the government’s power to tax its citizens.What’s the right amount of taxes? Zero? How do we get there? Given our nation’s anti-tax roots, have we become too complacent in paying taxes?Show Notes and Further ReadingGrover Norquist, End the IRS Before It Ends Us: How to Restore a Low Tax, High Growth, Wealthy America (book) Hosted on Acast. See acast.com/privacy for more information.

Daniel J. Ikenson explains the idea of free trade between nations on this week’s show. We discuss how Enlightenment-era economists like Adam Smith and David Ricardo saw trade as a non zero-sum game and what their theories mean for continued economic growth today. We discuss in detail the idea of comparative advantage, and talk about the effects of regulation on trade.What is a trade surplus? What’s a trade deficit? Is one good and the other bad?Should we be worried about the loss of manufacturing jobs in America? What about job losses from trade? Will “Buy American” laws fix this?What are “anti-dumping” laws and how do they work? What’s the distinction between free trade and managed trade? Should advocates of free trade support free trade agreements?Show Notes and Further ReadingDaniel J. Ikenson, “Did the Profit Motive Spark the Recent Asian Factory Fires?” (Cato @ Liberty blog post)Jason Dedrick, Kenneth L. Kraemer, Greg Linden, “Who Profits from Innovation in Global Value Chains? A Study of the iPod and notebook PCs” (academic paper) Hosted on Acast. See acast.com/privacy for more information.

Edward H. Crane joins us this week as we talk about the beginnings of the Libertarian Party in the early 1970s and Crane’s involvement with that organization. We also talk about the founding and early history of the Cato Institute, and we talk generally about Cato’s purpose and mission.What was early-1970s libertarianism like, and how has libertarianism changed over the past 40 or so years in America? How did Cato get started and then grow into the organization it is today? What’s Cato’s role as a think tank? Hosted on Acast. See acast.com/privacy for more information.

This week George H. Smith joins us to talk about Individualism: A Reader, the first in a series of readers published by Libertarianism.org and the Cato Institute. In it, Smith and his co-editor Marilyn Moore have compiled 26 selections from 25 writers on the topic of individualism.How has the idea of individualism evolved over time? What are some common misconceptions about individualism? Is a commitment to individualism somehow antithetical to the idea of community? Hosted on Acast. See acast.com/privacy for more information.

Timothy P. Carney joins us this week for a discussion on how the complex system of lobbying and regulating and subsidizing works in Washington D.C. He points out that big government and big business often scratch each others’ backs at the expense of the taxpayer, gives several examples of this behavior, and explains how it benefits both parties.Show Notes and Further ReadingTimothy P. Carney, The Big Ripoff: How Big Business and Big Government Steal Your Money (book)Timothy P. Carney, Obamanomics: How Barack Obama Is Bankrupting You and Enriching His Wall Street Friends, Corporate Lobbyists, and Union Bosses (book)Gabriel Kolko, The Triumph of Conservatism: A Reinterpretation of American History, 1900-1916 (book)New York Times, “Catfish Farmers, Seeking Regulation to Fight Foreign Competition, Face Higher Bills” (article) Hosted on Acast. See acast.com/privacy for more information.

James Otteson is the author of The End of Socialism (2014) and is a professor of political economy at Wake Forest University. This week he joins us to talk about socialism and explains several problems with the philosophy’s methodology that makes it unworkable in the real world.What exactly is socialism? What’s the distinction between socialism and corporatism? Why doesn’t socialism work? Hosted on Acast. See acast.com/privacy for more information.