Episodes

  • Carbon Tax vs. Green Subsidies

    Carbon Tax vs. Green Subsidies
    Jun 11 2026
    There’s an ongoing debate among economists about the most effective policy for incentivizing a reduction in carbon emissions. It’s essentially Team Carbon Tax vs Team Green New Deal, which is a debate over whether prices or subsidies are the more effective tool. In this episode, Paul and Peter discuss the paper “Green Waste” by Ingvil Gaarder et al and its surprising findings about Norway’s experiment with green subsidies.

    Hosted on Acast. See acast.com/privacy for more information.
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    20 mins
  • Just Follow the Science?

    Just Follow the Science?
    May 14 2026

    During the covid pandemic, it became popular for folks to say “just follow the science” when it came to making decisions about medical treatment and public health. But in this episode – which covers ivermectin, psychologists’ prescription authority, and warning labels for pediatric anti-depressants – Paul and Peter discuss just how complicated the science can be and why both "just following the science" and "doing your own research" are inadequate responses.


    In conjunction with Regulation Spring 2026

    Hosted on Acast. See acast.com/privacy for more information.
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    39 mins
  • The FCC Chairman Should Not Be a Minister of Truth

    The FCC Chairman Should Not Be a Minister of Truth
    Apr 9 2026
    The Chairman of the Federal Communications Commission threatened to not renew licenses for broadcasters that were too negative in their coverage of the US-Iran War. But this abuse of FCC authority in the name of protecting the “public interest” is merely the latest episode in a long and dismal history. This week, Peter and Paul discuss the downsides of government licensing of broadcast speech, how it violates the founding principles of this country, and the surprisingly simple solution that would bring it to a well-deserved end.

    Hosted on Acast. See acast.com/privacy for more information.
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    28 mins
  • Swiss Cheese Contracts are Melting Down

    Swiss Cheese Contracts are Melting Down
    Mar 12 2026
    Handling corporate debt has long been a standardized process, but something strange has been happening with contract law in recent years. These loan agreements are like the oil that lubricates our economic engine, yet the oil is breaking down as lawyers increasingly exploit contract loopholes to pocket higher returns at the expense of investors. Paul and Peter discuss the trend as described in the paper, “Swiss Cheese Contracts: The Costs of Creative Lawyering,” (Stephen Choi et al), and why it doesn’t quite fit traditional libertarian assumptions about market efficiency.

    Hosted on Acast. See acast.com/privacy for more information.
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    21 mins
  • The Perplexing Puzzle of the Social Cost of Carbon

    The Perplexing Puzzle of the Social Cost of Carbon
    Feb 19 2026
    Economists use something called the “social cost of carbon” to estimate the future physical and economic damages caused by climate change. Yet the final dollar cost assigned to carbon emissions fluctuates wildly: from roughly $7 under Trump to $190 under Biden! In this episode, Paul and Peter discuss the article “How Should We Value the Future?” (by Peter and David Kemp), how these numbers are generated, and how it’s not purely a product of scientific calculation but rather a profound ethical choice about intergenerational stewardship mediated by the political process.

    Hosted on Acast. See acast.com/privacy for more information.
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    33 mins
  • Was Milton Friedman Wrong about the Minimum Wage?

    Was Milton Friedman Wrong about the Minimum Wage?
    Jan 15 2026

    As Milton Friedman thought that the weight of careful research about the negative effects of the minimum wage would lead to an overwhelming consensus among economists and ultimately end public support for the policy. It didn’t work out that way, as anyone old enough to remember the “Fight for Fifteen” movement knows. Peter and Paul discuss Richard McKenzie’s article about Friedman’s prediction, why Friedman got it wrong, and the furor over an influential 1994 study that showed no negative employment effects.


    In conjunction with Regulation Magazine Winter 2025 Edition.

    Hosted on Acast. See acast.com/privacy for more information.
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    29 mins
  • “Make New York Like Houston?”: Housing and Induced Demand

    “Make New York Like Houston?”: Housing and Induced Demand
    Dec 11 2025

    You might’ve heard that building more roads to reduce traffic doesn’t really work because of induced demand, the way in which building new infrastructure simultaneously creates more demand. In this episode, Peter and Paul discuss a similar effect for housing, which could make it harder to reduce housing inflation. In addition, they examine a counterintuitive finding: the cheaper a rental housing unit is, the higher the profit margins. That is the opposite of profits for new home construction, where higher-end housing commands larger margins.


    In conjunction with Regulation Magazine Fall 2025 edition.

    Hosted on Acast. See acast.com/privacy for more information.
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    24 mins
  • A Nuclear Renaissance?

    A Nuclear Renaissance?
    Nov 13 2025

    Four decades ago, America stopped building new nuclear power plants. Some economists have even linked that decision to the era of lost economic growth known as the “Great Stagnation.” But now demand for energy is exploding, given the need for data centers to service AI, the electrification of cars, and other energy-thirsty applications. Nuclear energy boosters have declared an incipient nuclear renaissance, but, as Peter and Paul discuss, Steve Thomas’ cover article for Regulation Magazine, “The Next Nuclear Renaissance,” questions whether a nuclear energy production boom is actually coming to a reactor near you any time soon.


    In conjunction with Regulation Magazine Fall 2025 edition.

    Hosted on Acast. See acast.com/privacy for more information.
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    33 mins