Episodes

  • The 1970s Crime Wave

    The 1970s Crime Wave
    Nov 12 2024

    In this final installment of their series on the 1970s, Alex and Tyler turn to the social upheaval and crime wave that marked the decade as one of America’s most turbulent. They explore how rising crime rates transformed cities, fueled a national sense of fear, and led to far-reaching policy shifts, including mass incarceration and changes in urban policing. From the shocking statistics on homicide and stranger violence to the rise of serial killers and political bombings, they consider how the era’s unprecedented violence influenced American culture and policy. The conversation concludes with a caution against complacency, as they reflect on how fragile today’s low-crime environment may be—and what lessons from the past should guide us in preserving it.

    Recorded July 17, 2024

    Transcript, video, and links: https://www.mercatus.org/marginal-revolution-podcast/1970s-crime-wave

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    51 mins
  • Oil Shocks, Price Controls, and War

    Oil Shocks, Price Controls, and War
    Oct 22 2024
    In this second installment of their three-part series on the 1970s, Alex and Tyler unravel the economic and geopolitical forces behind the oil shocks that upended global global markets, triggered economic crises, and forced a dramatic reshaping of U.S. energy policy. Along the way, they debate whether the shocks ultimately led to long-term benefits like the rise of alternative energy and the fracking revolution, or if they merely prolonged economic pain. The conversation ranges from OPEC’s newfound power and the Yom Kippur War’s role in reshaping oil markets to broader questions about how shocks like these influence policy in the long-term. They close by reflecting on how the policy failures of the 1970s paved the way for Milton Friedman’s rise to prominence, and why his ideas—born from an era of rampant inflation and misguided price controls—remain crucial for understanding today’s economic challenges.

    Read a full transcript enhanced with helpful links, or watch on YouTube.

    Recorded July 17th, 2024

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    46 mins
  • The Economics Nobel: Predictions, Missed Opportunities, and Questionable Winners

    The Economics Nobel: Predictions, Missed Opportunities, and Questionable Winners
    Oct 8 2024

    Alex and Tyler share their predictions for the upcoming Nobel Prize in economics, considering potential winners like Michael Woodford for monetary theory, Susan Athey for her bringing machine learning , and Ariel Pakes for industrial organization. They reflect on overlooked economists such as Robert Barro, Richard Posner, Gordon Tullock, Armen Alchian, and Anthony Downs, while also highlighting the importance of dataset creators, including John Haltiwanger, Steven Davis, and the creators of the Penn World Table. They also explore non-traditional picks like Vitalik Buterin for his contributions to crypto, while calling out some questionable past winners.

    If you love speculating about who deserves a Nobel—or can’t resist reminding everyone the economics prize technically isn't one—this is your episode.

    Read a full transcript enhanced with helpful links, or watch on YouTube.

    Recorded Sep 19th, 2024

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    39 mins
  • 1970s Inflation: The Economic Fever That Changed America

    1970s Inflation: The Economic Fever That Changed America
    Sep 21 2024

    Welcome The Marginal Revolution Podcast! In the Season 1 premiere, Alex and Tyler kick off a 3-part series on the 1970s by exploring the decade's defining economic challenge: rampant inflation. They debate the factors behind the inflationary surge, from Keynesian spending policies to the collapse of Bretton Woods to contentious Fed policies. They end by drawing parallels to modern times, questioning why inflation in the 2020s has been curbed with less economic pain. Prepare for a lively discussion and a dash of economist-bashing along the way!

    Read a full transcript enhanced with helpful links, or watch the full video.

    Recorded July 17th, 2024

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    35 mins