Okay, Let Me Tell You Why You're Wrong: A Podcast for Understanding Economics

Okay, Let Me Tell You Why You're Wrong: A Podcast for Understanding Economics

This is a podcast for Understanding Economics. I, and a guest with a background in economics sift through the issues being discussed and present them as Economists would, without all the hype and hyperbole.

Episodes

Episode 44 - Price Gouging

March 29, 2020 • 39 mins
WE. ARE. BACK. After a very long hiatus I am back and making podcasts again. Don't worry folks nothing bad happened. It was more like being an adult got in the way for a while. Anyway, I chose to use this come-back episode to talk about something related to current events and answer the question of "why do economists keep insisting that there's no such thing as price gouging?" If you want to contact me and tell me why I'm wr...
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Episode 43 - Comparative Advantage

August 10, 2018 • 51 mins
This week we're talking about Comparative Advantage and asking the question "why should we engage in trade." I cover both the concept as well as its originator, David Ricardo, who you will discover is in fact "The Most Interesting Man in the World." If you want to tell me why I'm wrong, come on out and join our Facebook group at: https://www.facebook.com/groups/340933856307543/ or you can always send me an email at: okayletm...
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Episode 42 - The Wealth of Nations 1.11.2 - Rent of Land part 2

July 31, 2018 • 84 mins
This week we're back with part two of chapter eleven of book 1 of Adam Smith's The Wealth of Nations, and this one is massive. We're covering what is known as the Digression on Silver, and wondering if you can call something a digression when it's almost 100 pages long. If you want to tell me why I'm wrong, come on out and join the Facebook group at: https://www.facebook.com/groups/340933856307543/ or you can email me at: oka...
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Episode 41 - Creative Destruction

July 2, 2018 • 40 mins
We're cranking it to 11 and talking about that most metal of all economists, Joseph Schumpeter and his idea of Creative Destruction. I cover the intellectual underpinnings of it, the idea itself, and several examples of it throughout history. If you want to tell me why I'm wrong, come join the Facebook group and leave a comment or post a question at: https://www.facebook.com/groups/340933856307543/ or you can send me an email...
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Episode 40 - The Wealth of Nations 1.11.1 - Rent of Land part 1

June 20, 2018 • 45 mins
This week we're covering part 1 of Adam Smith's The Wealth of Nation Book 1 Chapter 11: Of the Rent of Land, where we discover exactly why the rent is too damn high, and it has more to do with wheat prices than you might think. If you want to tell me why I'm wrong, come join our Facebook group at: https://www.facebook.com/groups/340933856307543/ or email me directly at: okayletmetellyouwhyyourewrong@gmail.com
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Episode 39 - The Economics of Star Trek

June 11, 2018 • 105 mins
I sit down with Gus Shepard to talk about the possible future of the economy in terms of how realistic the scenarios laid out in the various iterations of Star Trek might be. We cover an economy without currency and whether or not we will hit a point of efficiency that will mean that no one has to work anymore. If you want to tell Gus and I why we're wrong, you can join the Facebook group and leave a comment at: https://www.face...
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Episode 38 - The Wealth of Nations 1.10.2 - Inequalities of Wages and Profits part 2

June 6, 2018 • 54 mins
We're back to close out Chapter 10 of Book 1 of Adam Smith's The Wealth of Nations. We cover the inequalities in wages and profits that are occasioned by the policies of Europe. If you want to tell me why I'm wrong, join our Facebook group and feel free to leave a comment at: https://www.facebook.com/groups/340933856307543/ or you can email me at: okayletmetellyouwhyyourewrong@gmail.com
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Episode 37 - Objectivism

June 2, 2018 • 48 mins
I take this episode to talk about a topic which is always irritating to me, that of Objectivism. Specifically, Objectivism when it's applied to economics. It's safe to say, I'm not a fan of Ayn Rand. If you want to tell me why I'm wrong, come on out and join the Facebook group at: https://www.facebook.com/groups/340933856307543/ or send me an email at: okayletmetellyouwhyyourewrong@gmail.com
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Episode 36 - The Wealth of Nations 1.10.1 - Inequalities of Wages and Profits part 1

May 29, 2018 • 76 mins
We're back with another riveting chapter from Adam Smith's The Wealth of Nations, or at least half of a chapter, as this one is really long. In this episode we cover the causes of inequalities in wages and profits as they relate to the natural market forces which cause them. If you want to tell me why I'm wrong, come join us on the Facebook group at: https://www.facebook.com/groups/340933856307543/ or you can email me at: okayl...
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Episode 35 - The Gold Standard

May 21, 2018 • 42 mins
This week take on the idea of the Gold Standard and get into the trade offs involved with pegging a currency to any kind of commodity. If you want to tell me why I'm wrong, come on out and join our Facebook group where you can leave a comment or suggest a future topic at: https://www.facebook.com/groups/340933856307543/ or you can email me at: okayletmetellyouwhyyourewrong@gmail.com
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Episode 34 - The Wealth of Nations 1.9 - Profits of Stock

May 14, 2018 • 49 mins
We're back with The Wealth of Nations Book 1 Chapter 9: Of the Profits of Stock, where we learn what Adam Smith has to say about how profit is derived and how profit ties in with interest and wages.
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Episode 33 - Market Power

April 26, 2018 • 68 mins
I sit down with Nicholas Franczyk from the Chicago office of the Federal Trade Commission to talk about market power and how the FTC determines and defines it. We discuss the nature of market power and how it can either lead to increased efficiency or anti competitive behavior. If you'd like to tell me why I'm wrong, come on out and join the Facebook group where you can post a comment at: https://www.facebook.com/groups/3409338...
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Episode 32 - The Wealth of Nations 1.8 - Wages of Labor

April 23, 2018 • 58 mins
We're back to Adam Smith with The Wealth of Nations Book 1 Chapter 8: Of the Wages of Labor. We go through Adam Smith's thoughts on how wages are determined, as well as the importance of wages on the economy as a whole. If you feel like you're being underpaid, this episode is for you. If you want to tell me why I'm wrong, come join the conversation at our Facebook group at: https://www.facebook.com/groups/340933856307543/ or y...
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Episode 31 - The Economics of Immigration

April 13, 2018 • 111 mins
I sit down once again with David Wicik to talk about the economic issues and arguments that surround the debate over immigration. If you want to weigh in and tell me why I'm wrong, come join us on the Facebook group and leave a comment or suggest a topic for a future episode at: https://www.facebook.com/groups/340933856307543/ or send me an email directly at: okayletmetellyouwhyyourewrong@gmail.com
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Episode 30 - The Wealth of Nations 1.7 - Natural and Market Price

April 6, 2018 • 44 mins
We keep right on moving through Adam Smith's The Wealth of Nations with Book 1 Chapter 7: Of the Natural and Market Price of Commodities. In this chapter supply finally meets demand, prices fluctuate, and I can't understand what the deal is with people who don't like chocolate. If you want to tell me why I'm wrong, join our Facebook group and leave a comment or suggest a topic for a future episode at: https://www.facebook.com/...
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Episode 29 - Some Thoughts on the Minimum Wage

March 30, 2018 • 48 mins
I pick apart both sides of the debate over minimum wage and try to offer some food for thought on the issue. This is one of those cases where very often, both sides are wrong, or at least not fully considering the issue, and it's important to try to see the whole thing. If you want to tell me why I'm wrong, come join us on the Facebook group and leave a comment at: https://www.facebook.com/groups/340933856307543/ or you can ema...
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Episode 28 - The Wealth of Nations 1.6 - Component Parts of Price

March 23, 2018 • 32 mins
We're celebrating our one year anniversary by covering Adam Smith's The Wealth of Nations Book 1 Chapter 6: Of the Component Parts of the Price of Commodities. We examine Smith's analysis of the factors that go into determining the price of things and find time to bag on the subject of sociology. If you want to tell me why I'm wrong, come on out and join our Facebook group to leave a comment or suggest a topic for a future episod...
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Episode 27 - Trade Wars

March 16, 2018 • 56 mins
This week I tackle the economics of an issue that is in the news and in the minds of most people right now; trade wars. If you're looking for a political rant either in favor or against trade wars, sorry, but you'll have to look elsewhere. I'm sticking to the thesis statement of this podcast and focusing just on the economics of trade wars. I hit on some of the underlying theory behind free trade versus fair trade, and delve int...
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Episode 26 - The Wealth of Nations 1.5 - Real and Nominal Price

March 9, 2018 • 40 mins
We're back with Book 1 Chapter 5 of Adam Smith's The Wealth of Nations. This week we're talking about Real Price and Nominal Price as Adam Smith describes them as well as what Smith feels is the constant measure of value. It's deep stuff and involves a Karl Marx impersonation. If you want to tell me why I'm wrong, join us on the Facebook Group at: https://www.facebook.com/groups/340933856307543/ or email me at: okayletmetellyo...
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Episode 25 - Monopoly

March 2, 2018 • 39 mins
On this week's topic episode, I delve into the topic of monopoly. I talk about exactly what a monopoly is, what it looks like, natural monopolies, ways that a monopoly may not be truly dire, and tips for winning at the board game mainly through cheating. If you want to tell me why I'm wrong, come on out and join our Facebook group where you can post a comment or suggest a topic for a future episode: https://www.facebook.com/grou...
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