Why Price Controls Don't Work (Audio: Podcast)
IPI Resident Scholar Dr. Merrill Matthews talks with economist Dr. David Henderson, who explains some of the history of, and reasons why, some politicians propose price controls to counter high prices and inflation—and why that approach never works
IPI Policy Basics: The Debt Obligations of the Federal Government Are Much Bigger than You Think (Audio: Podcast)
Beyond the “national debt,” which has skyrocketed in the past decade, the real total obligations of the federal government include the future obligations of Social Security, Medicare, federal employee pensions, military pensions and more. It’s not a pretty picture. IPI President Tom Giovanetti and Resident Scholar Dr. Merrill Matthews discuss federal deficits, debt, entitlements, and the threat this debt service poses to future generations.
IPI Policy Basics: Is Antitrust the Right Solution to the Problem? (Audio: Podcast)
IPI Senior Research Fellow Bartlett Cleland talks through the right way to think about antitrust policy. When is a company “too big?” Are there benefits to scale? What’s the consumer welfare standard, and isn’t any alternative to the consumer welfare standard just arbitrary? With IPI President Tom Giovanetti.
Predictions of Inflation Were Not Inflated (Audio: Podcast)
Was inflation simply the result of Covid-19 related disruptions, or by Biden administration policies? Or have Biden administration policies nudged transitory inflation into a long-term political and economic disaster? IPI Resident Scholar Dr. Merrill Matthews guides a discussion about our current inflation concerns, and explains why inflation is the worst tax of all. With IPI President Tom Giovanetti
IPI Policy Basics: Why Are Lower Taxes Better than Higher Taxes? (Audio: Podcast)
There are moral, economic, philosophical, and political reasons why lower taxes are better than higher taxes. It’s not just about the greediness of taxpayers. IPI President Tom Giovanetti and Resident Scholar Merrill Matthews discuss lower vs. higher taxes from the perspective of government, the perspective of earners, and the political perspective.
Why a Tight Labor Market Is a Bad Thing (Audio: Podcast)
Progressives seem to think a tight labor market is a good thing because it pressures businesses to pay higher wages. But a labor shortage is bad for the economy, because in order to grow, an economy requires an abundant supply of both capital and labor. A tight labor market contributes to slower economic growth, higher prices, lower production, and inflation. With IPI President Tom Giovanetti, Resident Scholar Dr. Merrill Matthews, and Senior Research Fellow Bartlett Cleland.
IPI Policy Basics: Supply Creates Its Own Demand (Audio: Podcast)
A fundamental issue in economics, a law described by French economist Jean-Baptiste Say in 1803 asserts that production is necessary before any consumption can take place; therefore, production comes first, and is more important. Production creates economic growth, and demand essentially takes care of itself. This is in dramatic opposition to Keynesian economics, which posits that government should encourage consumption through borrowing and deficit spending, and that increasing demand will stimulate production. IPI President Tom Giovanetti and Resident Scholar Dr. Merrill Matthews explain why Say’s Law (and thus supply-side economics) is correct and why Keynesian, demand-side economics is wrong. And Senior Research Fellow Bartlett Cleland contributes several examples from the innovation economy that illustrate the point.
Wait--After the Trump Tax Cut, Federal Revenue is UP (Audio: Podcast)
The latest numbers from the Congressional Budget office show that federal revenue is up 22 percent since before the 2017 tax cuts. Both individual and corporate tax revenue is higher than expected, not lower. IPI President Tom Giovanetti and Resident Scholar Dr. Merrill Matthews explain that the right kind of tax cuts stimulate economic growth which results in higher, not lower federal revenue. So with revenue flooding into the federal treasury, it’s clear that spending is the problem, not taxes.
IPI Policy Basics: Not All Tax Cuts Are Created Equal (Audio: Podcast)
Tax cuts can have a strong impact on economic growth, or none at all—it depends on whether the tax cut encourages private sector investment. IPI Resident Scholar Dr. Merrill Matthews and President Tom Giovanetti look back at the IPI archives to a 2001 study that ranked different types of tax cuts based on their impact on economic growth. Hint: Tax cuts designed to “put more money in people’s pockets” aren’t going to get the job done.
Why Are All These Jobs Going Unfilled? (Audio: Podcast)
"Why are there all these jobs going unfilled even after the end of the enhanced federal unemployment benefits?” asks IPI President Tom Giovanetti, and Resident Scholar Dr. Merrill Matthews shares several possible reasons.