FEEcast

Do women get paid 80 cents on the dollar compared to men? That figure has been a political football, but is it overagreggated? How much are pay differences a matter of employer bigotry versus employee choice? FEEcast discusses this hot button issue. Show Notes: Harvard Study: "Gender Wage Gap" Explained Entirely by Work Choices of Men and Women Truth and Myth on the Gender Pay Gap The Wage Gap Between Men and Woman Virtually Disappears When Differences in Behavior Are Taken into Account Not All Gender Pay Gaps Are Worth Worrying About

With the 24-hour news media, countless blogs and videos, and near-infinite social media commentary, there’s a lot of noise out there. As a society, we are all struggling to combat disinformation, or “fake news,” and get at the truth. Of course, that’s easier said than done. Joined by guest Jon Miltimore, the FEEcasters discuss how to combat fake news and how constant advisories on everything from romaine lettuce to FBI Russia investigations begin to lose their sense of importance. Show Notes: Daryl Davis: Making Friends From Enemies There’s No Such Thing as “Her Truth” or “His Truth”—Only the Truth George Orwell: Looking back on the Spanish War

‘Tis the season for holiday sales, so the FEEcasters discuss the economics of the products they’ve got their eyes on: makeup and Apple products. Celebrity-driven brands are disrupting the established players in the beauty care industry by expanding the diversity of the skin tones they serve. And Apple stock is down due to soft iPhone sales. It all goes to show that, now matter how dominant a company may seem, the consumer holds the ultimate power to make or destroy business fortunes. Show Notes: How Kylie Jenner Is Changing the Face of Entrepreneurship A 'Made in America' iPhone Would Cost $2,000, Studies Show Capitalism Encapsulated: Mises in Four Easy Pieces I, Pencil Apple CEO Tim Cook on privacy: 'we have to admit when the free market is not working' Apple CEO Tim Cook explains why Apple products were exempt from Trump’s China tariffs

Cities and states across the country have been courting Amazon. Each eagerly wanted to host the retail giant’s second headquarters. And each offered billions in tax incentives and cash handouts to entice the company. Now Amazon has made its decision, and “HQ2” ended up being HQ2 + 3. The FEEcasters are fans of Amazon (except, ahem, for Marianne), but they disagree on one thing: how should we think about the tax breaks Amazon got? Are they welcome tax relief or crony-capitalist subsidies? It’s debate time on FEEcast. What do you think?  FEEcast is taking a break next week. FEE wishes you a happy Thanksgiving! Show Notes: What Ocasio-Cortez Gets Right about Amazon's $2 Billion Government Handout Tax Breaks Aren't Subsidies Amazon Snags $2 Billion in Bribes and Tax Credits From New York and Virginia Amazon HQ2 Is the Only Competition Where the Losers Are Winners

Every year, political strife gets more rancorous and invades more of our lives. On the fringes, our hyper-politicized climate even precipitates violent atrocities. Is this a reflection of how much government itself has steadily encroached on our lives? What perspective can we adopt to foster harmony? Watch this episode of FEEcast to find out! Note: FEEcast will take a week off next week. See you again on November 16! Show Notes: Four Things Everyone Gets Wrong About Mass Violence—A Social Psychologist’s Perspective Hannah Arendt on the Link Between Bureaucracy and Violence Who I'm Voting For

From Kendall Jenner to Elizabeth Warren, cultural appropriation is in the news. And coverage of the topic always ramps up as Halloween approaches. Who is allowed to dress up as whom? What should we consider offensive, and how should we respond to offense taken by others? The FEEcast crew, joined by T.K. Coleman, considers these questions, as well as the economics of Halloween costumes and a recent law passed against adult trick-or-treaters. Show Notes: Why Halloween Costumes Used to Be Terrible | Richard Lorenc Don't Vote Like a Halloweener | Lawrence W. Reed Halloween Has Been Commercialized Too, Thank Goodness | James Walpole Peace, Love, and Cultural Appropriation | FEEcast Cultural Appropriation Is Love | TJ Brown Cultural Appropriation Is Intellectual Property on Stilts | Pierre-Guy Veer

After 132 years, Sears is filing for bankruptcy. But it’s not necessarily over for the company which has a surprising and honorable history of disrupting racial hierarchies in the days of Jim Crow. On this episode of the FEEcast, Richard, Anna Jane, and Marianne discuss the company that was truly the Amazon of the 20th century and tackle the question: how likely is it that today's corporate giants will stand the test of time? Show Notes: Sears, the store that changed America, declares bankruptcy How Sears mail-order catalogs undermined Jim Crow racism Antitrust Myths and the Fall of Sears Chris Kjorness on How Capitalism Midwifed the Birth of the Blues Only 53 US Companies Have Been on the Fortune 500 since 1955, Thanks to the Creative Destruction That Fuels Economic Prosperity

Taylor Swift recently broke her political silence by endorsing Democratic candidates and dishing out progressive buzzwords. These words were music to some ears and noise to others. Kanye West is rarely silent (as Swift knows from experience), particularly about politics these days. Kanye recently made more waves in his MAGA hat, first on SNL, then on Twitter, where he called for abolishing the 13th amendment. Where some detected a pro-slavery message, others inferred a critique of the prison system. How do our “moral taste buds” (in psychologist Jonathan Haidt’s terminology) shape the way we hear statements from across the political divide? The FEEcasters discuss! Show Notes: Why Conservatives Can't Understand Liberals (and Vice Versa) 5 Possible Reasons Incivility and Outrage Are on the Rise How Facts Get Chosen and Minds Get Changed

Jeff Bezos announced that Amazon will raise its minimum wage to $15/hour. This made Bernie Sanders happy, but will it lead to layoffs? And what’s up with Bezos turning around and voicing support for increasing the federal minimum wage? Is all this really about compassion or about using government to squash the competition? Tune in to FEEcast for an in-depth discussion. *After this recording concluded on Wednesday, news broke that Amazon will discontinue monthly bonuses and stock options for warehouse workers. Show Notes: Is Amazon’s Minimum Wage Move a Political Ploy? https://fee.org/articles/is-amazon-s-minimum-wage-move-a-political-ploy/ The New York Times Explains Why the Minimum Wage Should Be $0.00 https://fee.org/articles/the-new-york-times-explains-why-the-minimum-wage-should-be-000/ Higher Minimum Wages Can Mean Fewer Work Benefits https://fee.org/articles/higher-minimum-wages-can-mean-fewer-work-benefits/ Amazon's hourly workers lose monthly bonuses and stock awards as minimum wage increases https://www.cnbc.com/2018/10/03/amazon-hourly-workers-lose-monthly-bonuses-stock-awards.html Amazon eliminates monthly bonuses and stock grants after minimum wage increase https://www.theverge.com/2018/10/3/17934194/amazon-minimum-wage-raise-stock-options-bonus-warehouse

Senator Bernie Sanders recently proposed “Stop BEZOS” (Stop Bad Employers by Zeroing Out Subsidies), a tax bill that doesn’t hide its chief target: Jeff Bezos, founder and CEO of Amazon. But would this law help low-income workers or hurt them? Find out on FEEcast! Show Notes: Bernie Sanders' Stop BEZOS Campaign Ignores Several Basic Economic Realities Bernie Sanders’s Tax Bill Would Wreak Havoc on the Working Poor Are Food Stamps Really Reducing Labor Costs for Amazon?

Teacher pay has again been a hot button issue this back-to-school season, as unions have protested for raises and received sympathetic coverage from the media. But are school teachers really underpaid? And if so, what can they do about it? The FEEcast crew and special guest TK Coleman discuss the numbers, economics, and ethics of the matter. Show Notes: How Media Outlets Misinform the Public about Teacher Pay https://fee.org/articles/how-media-outlets-misinform-the-public-about-teacher-pay/ No, Teachers Are Not Underpaid https://fee.org/articles/no-teachers-are-not-underpaid/ Quit Rates Suggest Teachers Are Doing Just Fine https://fee.org/articles/quit-rates-suggest-teachers-are-doing-just-fine/

Hurricane Florence was descending upon the US east coast as this FEEcast was recorded. The panel, along with guest Jon Miltimore, FEE.org’s managing editor, discuss the economics of hurricanes. It turns out economic laws still apply during natural disasters. The FEEcasters discuss the “Broken Window Fallacy,” the issue of “price gouging,” and more. Show Notes: Hurricanes Have No Silver Lining Hurricanes Don’t Blow Away Economic Law How Price Gouging Helped My Family During a Storm

Georgia recently became a “hands-free” state by banning texting while driving. Many consider this a common-sense policy, but the law of unintended consequences has a way of surprising those who assume that new laws are the way to solve every problem. The FEEcasters discuss this and share some of their own experiences on the road. Show Notes: Why a Nationwide Ban on Texting While Driving Is a Bad Idea Can Safety Regulations Make Us Less Safe? Want More? Check out other podcasts and amazing videos at fee.org/shows Follow us on social media: @feeonline

CNBC recently reported that Google and Apple, among other big companies, have stopped listing a college degree as a requirement for potential employees. But these checkboxes were always a lot more negotiable than people realize. What do employers really want? What is the value and the cost of a college degree? Is it a good bargain for everybody? Are there better and cheaper ways of getting what college offers? The FEEcasters discuss all this and more. Show Notes: “College Degree 'Requirements' Were Never as Real as You Thought” by Derek Magill “Best Alternative to College: Launch Your Career Now” by Dan Sanchez “Student Debt is Squashing Startup Growth” by Zak Slayback Podcast Episode: Words and Numbers: “Is a College Degree Worth the Cost?”

Podcasters like Tim Ferris and Joe Rogan draw millions of listeners who are more interested in self-improvement than identity politics. Are these “podcast bros” (as the New York Times has dubbed them) placing too much emphasis on individualism and not enough on collective injustices? Or are they offering an empowering alternative to debilitating narratives of victimhood? The FEEcasters are joined by guest-host Sean Malone to discuss! Show Notes: “The 'Podcast Bros' Are Doing More to Inspire Individuals Than Politics Ever Could” by Brittany Hunter “Young Minds Are Undermined by Today's Fashionable Philosophies” by Sean Malone “Clean Your Room, Change the World” by Dan Sanchez “How Believing in Socialism Can Make You Miserable” by Brittany Hunter and Dan Sanchez

If you live in a major city, you’re probably seeing Bird and Lime electric scooters everywhere. They may look abandoned, but they’re actually ready waiting for any user to pick up and pay to use with a smartphone app. They may look like easy pickings for thieves, but Bird and Lime have adopted various measures that have kept theft and vandalism to a minimum. These companies have every incentive to innovate and implement ways to secure and maintain their resources, because the scooters are their private property. They fully benefit from such care and fully suffer the costs of any negligence. Compare this to communal/public property, which is so often overused and under-maintained. In this episode, FEEcast explores the philosophy and economics of private property. Why is it important? Should property rights be “balanced” against other rights? Watch, consider, and comment! Show Notes: Sharing Economy 2: Electric Scootaloo Safety Regulations Could Kill the Scooter Revolution (But They Totally Won't) Aristotle Understood the Importance of Property John Locke: Natural Rights to Life, Liberty, and Property “Stepping Out” by David Sedaris “Right to Roam” (podcast) New Challenges to Californians' Beach Access

California cities have been banning things left and right. Regulations and high taxes have made living in the state an expensive and burdensome proposition. Harried residents have been fleeing to less-oppressive states. By doing so, Americans are “voting with their feet” against oppressive policies and for less-oppressive policies. This “power of exit” is an important curb on government power: not only on the state level but on the national level as well. In this episode, the FEEcasters explore the concept of “jurisdictional competition.” Show Notes: San Francisco's Protectionist Attempt to Ban Company Cafeterias Why California Cities Are Becoming Unlivable Americans Are “Voting with their Feet” against High-Tax States Like California Americans Are Voting with Their Feet for Economic Freedom Europe Rose Because of Jurisdictional Competition Jurisdictional Competition Made Europe Rich  

Drinking straws are being banned and phased out by cities and corporations under pressure from environmental activists. Is this moral progress or just a moral panic? What is the psychology behind such campaigns? And what are the economics of their consequences? The FEEcasters have a freewheeling discussion on the matter. Show Notes: Article: How are 10 Cent Grocery Bags Creating a Surplus? Podcast: 'There Ought to Be a Law’: What that Phrase Actually Means  

F.A. Hayek was a creative genius who generated some of the biggest, most fascinating ideas in the social sciences. Most famously, he offered powerful critiques of central planning. His work on the “knowledge problem” demonstrated how socialism would be incapable of handling the mind-boggling complexity of the world. Only the distributed intelligence of the market is up to the task. And his classic book The Road to Serfdom showed that economic planning inexorably leads to misery and dictatorship. The FEEcast crew discusses the ideas of this profound thinker. Show Notes: “Five of Hayek's Biggest Ideas: A Study Guide” by Kai Weiss “'The Road to Serfdom': 7 Things You Might Not Know about Hayek's Classic Book” by Jon Miltimore The Essential F. A. Hayek (eBook) “The Use of Knowledge in Society” by F.A. Hayek The Shortcut to Serfdom (eBook) by Brittany Hunter  

Democratic socialism is trending hard, not only thanks to Bernie Sanders, but especially after Alexandria Ocasio-Cortez, a self-proclaimed democratic socialist, won a recent Democratic primary for a congressional seat in New York. But does “democratic socialism” offer anything more than a rebranding of a failed ideology? Can the death toll and abysmal economic track record of socialism be wiped clean by attaching the word “democratic” to it?  Are democratic socialists subscribing more to a sentiment than an actual philosophy? Can democracy and socialism even co-exist in practice? The FEEcasters discuss these questions and more. Show Notes: “The Questions Stephen Colbert Should Have Asked Democratic Socialist “Rock Star” Alexandria Ocasio-Cortez” by Barry Brownstein “Venezuela Proves There is No Political Freedom Without Economic Freedom” by Brittany Hunter “Ain't No Way Norway Is a Model for Democratic Socialism” by Daniel J. Mitchell “Middle-of-the-Road Policy Leads to Socialism” by Ludwig von Mises “Friedman on Capitalism and Freedom” by Milton Friedman  

When we celebrate the Fourth of July, what are we truly celebrating? Is it our country’s government and whatever policies it happens to pursue? Or is it the ideals upon which the country was founded? What are those ideals and what has been the American experience that resulted from them? What is the difference between patriotism and nationalism, between society and the state? The FEEcasters explore these questions and more. Show Notes: “The Essence of Americanism” by Leonard E. Read “The True Meaning of Patriotism” by Lawrence W. Reed “The Herd Mind” by Dan Sanchez “The State” by Randolph Bourne  

A lady the internet has dubbed “Permit Patty” recently called the police to report an 8-year-old entrepreneur for selling water bottles without a permit. Why do so many have such a deeply ingrained permission-based mindset and predilection to tattletale? Is it inculcated in school? The FEEcasters recount some of their own childhood experiences as renegade entrepreneurs. Our permission culture creates many barriers to entry that keep industries stagnant and entry-level workers and entrepreneurs poor. The FEEcast crew discuss many types of entry barriers, from minimum wages to internet sales taxes, plus a recent significant Supreme Court decision on labor unions and worker rights. Show Notes: Why "Permit Patty" Called the Cops on an 8-Year-Old Entrepreneur Schools Have Created a Generation of Permit Pattys and BBQ Beckys My Childhood as a Renegade Entrepreneur Without the State, Who Will Handcuff Teens for Selling Water Bottles? Lemonade Stands Legalized in Utah Country Time Lemonade Takes a Stand for Child Entrepreneurs The Internet Sales Taxes Will Hurt Small Businesses and Make Online Shopping More Expensive The European Union Has Been Spamming Your Inbox… and That’s Not the Worst of It Supreme Court Strikes Down Mandatory Union Fees for Public Employees

Pixar’s Incredibles 2 recently had the biggest opening of all time for an animated film. In the first Incredibles being super is stigmatized and only mediocrity is acceptable. Is that so different from the real world? Recounting memories from their own childhoods, the FEEcasters discuss some of the ways our culture suppresses excellence in the name of equality. Show Notes: How 'Incredibles 2' Is Making Superheroes Great Again What the Self-Esteem Movement Got Disastrously Wrong To Defend Civilization We Must First Understand It

FEEcast is thrilled to have TK Coleman as our guest in this special episode recorded at FEEcon 2018. TK is the co-founder and Education Director of Praxis, a company that offers young people an alternative program to college that includes a professional development boot camp and a paid apprenticeship at a startup. TK breaks down many of the ways young people can go beyond credentials and resumes to signal value to potential employers. He also counsels young people to not look to politics and politicians as primary agents of change, but to look to themselves as the predominant creative forces in their own lives. Show Notes: Career Common Sense that’s Actually Nonsense (How to Avoid the Conveyor Belt) | Isaac Morehouse Best Alternative to College: Launch Your Career Now | Dan Sanchez No, We Are Not Screwed | TK Coleman Who I’m Voting For | TK Coleman No, We Are Not Mere Pawns | TK Coleman  

FEEcast is honored to have Magatte Wade as our guest in this special episode recorded at FEEcon 2018. Magatte is a Senegalese entrepreneur and the founder of skin is skin. She is also the subject of an upcoming documentary short in FEE’s “How We Thrive” series. Magatte rejects the casting of the people of her country and continent as helpless charity cases. What Africa needs, she insists, is not handouts or hand-me-downs, but freedom: especially the freedom to lift themselves up through commerce. As she explains to the FEEcast panel, Africans deserve better than perpetual dependence. Like all people, they deserve the dignity of trade, work, and self-reliance, which is the only path toward eradicating poverty instead of merely ameliorating it. Show Notes: Made in Mekhe OFFICIAL TRAILER Magatte Wade: The Power of Entrepreneurship Local Entrepreneurs, Not Foreign Do-Gooders, Are the True Hope of Africa

Domino’s Pizza is paving over potholes to preserve the cheesy integrity of their pies. Is it just a PR stunt? A sincere gesture of goodwill? Or is it also in their economic interest? Do roads and other “infrastructure” goods need to be provided by the government? Or do private individuals and organizations have incentives to provide such “public goods”? The FEEcast panelists explore these questions and also celebrate the recently completed FEEcon!   Show Notes: Without Government, Who Will Build the Roads? Domino’s Pizza, Apparently | Brittany Hunter Freeing the Freeways | Leigh Jenco National Defense and the Fundamental Problem With "Public Goods" The Private Provision of Public Goods | Donald J. Boudreaux  

Capitalism is a top trending search term. What does it actually mean? Is it an economic system run by capitalists or swayed by consumers? Does it benefit capital at the expense of labor or is it responsible for the rising living standards or workers in industrialized countries? The FEEcast crew discusses this much maligned and much misunderstood term. Show Notes: Article: What Is "Capitalism" Anyway?” by Richard Ebeling Video: “Why Should My Boss Get All the Profits?” by Seamus Coughlin Article: “Only 53 US Companies Have Been on the Fortune 500 since 1955, Thanks to the Creative Destruction That Fuels Economic Prosperity” by Mark Perry Video: “As the Rich Get Richer, the Poor Get Richer”

FEEcast welcomes freedom activist Jorge A. Jraissati, a recent émigré to America from Venezuela, which is suffering a horrific economic and humanitarian crisis. In a recent video, HBO’s John Oliver, sitting in a market economy’s lap of luxury, insisted that socialism is not to blame for Venezuela’s plight. But Jraissati, who actually lived through Venezuela’s nightmare, begs to differ. He explains how socialist ideology and big government policies plunged his once-prosperous country into the depths of hunger and chaos. Show Notes: Video: One Venezuelan Student’s Heartbreaking Experience with Socialism Article: “The Ongoing Implosion of Venezuelan Statism” by Daniel J. Mitchell Article: “Socialist Policy Tanked Venezuela's Economy, Not Falling Oil Prices” by Julian Adorney Article: “Venezuela’s President Tackles Economic Crisis by Deleting 3 Zeros From its Currency” by Luis Pablo de la Horra Article: “Middle-of-the-Road Policy Leads to Socialism” by Ludwig von Mises Video: Venezuela: Last Week Tonight with John Oliver (HBO)  

Did you know the word “liberalism” used to mean the opposite of what it does now? In this episode, the FEEcast gang discuss how that happened as well as the meanings of the words “progressivism” and “socialism.” They also explore socialism in the real world. What has it done for the countries that came closest to implementing it? Do the Nordic countries (Sweden, Denmark, etc) count as socialist successes? Richard Lorenc, Brittany Hunter, Dan Sanchez, and Anna Jane Parrill discuss these topics and more. Show Notes: “The Epic Triumph of Liberalism and Its Tragic Betrayal” by Dan Sanchez “The Swedish Case for Limited Government” by Daniel J. Mitchell “Middle-of-the-Road Policy Leads to Socialism”: Chapter 2 in Planning for Freedom by Ludwig von Mises https://fee.org/resources/planning-for-freedom/ https://fee.org/articles/mises-knew-the-true-meaning-of-liberalism/ https://fee.org/articles/how-believing-in-socialism-can-make-you-miserable/

In this episode, FEEcast has its first guest! We welcome Sean Malone, Director of Media at FEE and creator of the hit YouTube video “What’s Wrong with Wakanda.” Sean and crew discuss what superheroes can teach us about economics, politics, and life itself. Black Panther’s King T’Challa reigns over a sci fi paradise completely isolated from the rest of the world. But without trade, could a small country rise to prosperity, even if it was rich in a resources as wondrous as the fictional vibranium? And in Avengers: Infinity War, Thanos wants to solve overpopulation by wiping out half of all life in the universe. Many internet commenters are strangely sympathetic toward the supervillain’s scheme (one writer conceded it was “technically genocide”). But does this betray backward economic reasoning (not to mention some serious ethical problems)? Explore the economics of the Marvel Cinematic Universe with FEEcast! Show Notes: What’s Wrong with Wakanda, FEE on YouTube A Lot of People Agree with a Supervillain about Population | FEE.org Tons of 'Avengers: Infinity War' Fans Think Thanos Might Be Right, Inverse.com

McDonald’s in North Korea? Chinese dresses in Utah? Are such cross-cultural remixes cause for offense or celebration? Is militarism or trade the best answer to tyranny? Is cultural emulation a form of appropriation or appreciation? These questions and more are considered in this lively discussion with the whole FEEcast gang: Richard Lorenc, Brittany Hunter, Dan Sanchez, and Marianne March. Show Notes: McDonalds on streets of North Korea: Kim Jong-un wants USA to invest in Pyongyang Conscience on the Battlefield | Leonard E. Read Want Peace? Promote Free Trade | Julian Adorney In North Korea, Black Markets Are Saving Lives | Richard Mason Venezuela Proves There is No Political Freedom Without Economic Freedom Chinese prom dress draws rage, but Utah student said she meant no harm Cultural Appropriation Is Love | TJ Brown Cultural Appropriation Is Intellectual Property on Stilts | Pierre-Guy Veer How Motown Smashed the Cultural Border | Sean Malone What's Wrong With Wakanda?

There’s a bomb that keeps ticking but never goes boom: the population bomb. For centuries, pessimists have predicted that population growth will overwhelm the planet’s resources and lead to an ecological armageddon. Yet, time and again, their doomsday prophecies have proven spectacularly wrong. Not only does the human race keep growing, but living standards keep going up, not down. Why do they keep underestimating humanity? They don’t understand that our ultimate resource is not anything in the ground. So what is it? Watch this episode of FEEcast to find out!

The Foundation for Economic Education proudly presents the inaugural episode of our new weekly show FEEcast, a lively and intelligent exploration of today’s most interesting stories and issues through the clarifying lens of economic thinking. In this episode, Richard Lorenc, Brittany Hunter, Dan Sanchez, and Marianne March discuss taxes (IRS.gov had a tax day meltdown!), wealth (#IdLikeToBeRichEnoughTo is trending on Twitter), and what made human prosperity, after millions of years of stagnation, skyrocket in recent history. Links from this episode: https://www.msn.com/en-us/money/markets/irs-payment-site-fails-on-tax-day-but-you-still-have-to-pay/ar-AAvYXBI?ocid=spartandhp https://twitter.com/hashtag/IdLikeToBeRichEnoughTo?src=tren https://fee.org/articles/you-are-richer-than-john-d-rockefeller/ https://fee.org/articles/the-maddison-project-reveals-humanitys-remarkable-economic-progress-in-a-single-chart/ http://oll.libertyfund.org/quote/436