Faith and Economics
By Gwartney Institute
For more information, contact us at gwartney.institute@gmail.com
Faith and EconomicsApr 29, 2024
Measurement and Judgement |#290
Justin is angry and animated because he thinks we live in a world where measurement has replaced judgment, and that this robs us of individuality, autonomy, and authenticity. He also thinks the results in terrible outcomes for physical and mental health, education, and if you can believe it, other bad stuff too. He's really on one, so let him cook.
Labor Unions | #289
What are labor unions, and what role do they play in the modern economy? The Gwartney team explains the arguments for and against Labor Unions, and outlines the ways in which these arguments have changed as the economy has modernized and globalized.
High Art, Low Culture, and Hyperstimulus | #288
At the Gwartney Institute, we're very fancy. Still, we wanted to know: What exactly constitutes high art? Is there any substantial difference between the avant-garde and what the rest of us enjoy? Peter walks the Gwartney team through an interesting article purporting to answer this very question. Along the way they touch on haute cuisine, cinema, centerfolds, and punk rock.
Deflation | #287
Who's Afraid of Deflation?Everyone hates inflation - where our money is worth less and less over time. However, many economists prefer a limited amount of inflation to a phenomenon that they find even scarier: deflation. What is deflation, where does it come from, and why are policymakers so afraid of it? Peter, Russ and Justin explain the orthodox view that deflation is dangerous, and then they explain why this fear may not in fact be entirely warranted.
Is The 40 Hour Work Week A Scam? | #286
Could we work less and be better off? The traditional 40-hour work week has been under the microscope in certain policy circles, accompanied by suggestions that if we moved to a 4-day work week (or a similarly reduced schedule) we would be happier and just as wealthy. The Gwartney team takes precious time out of their respective work weeks to look at these suggestions and the assumptions and arguments which motivate them.
Controlling The Food Supply? | #285
To what degree is our food supply under federal control? How and why does this happen? How much of a problem is this? Justin has a bee in his bonnet about current federal regulations regarding livestock, and the rest of the Gwartney crew humors his paranoia with civil discussion.
The Mating Game: Problems Between the Sexes? | #284
Recent studies show that relations between men and women have deteriorated, particularly among those of dating, mating and creating age. What causes this? What does it mean? How do we fix it?
The Gwartney Team weighs in. Join us!
Extracurricular Book Club! |#283
The Gwartney Team mixes it up, talking about some of the best recreational reading they've come across lately. No textbooks, no political tirades, just the kind of reading that they do for fun, and that you might enjoy. Is Peter is still reading Ernst Jünger? Why is Justin so weird? What kind of space-laser-weapons is Russ currently salivating over? For the answers to these questions – and for recommendations with which to stock your own wish list! – make sure not to skip this episode.
Pet Peeves: Sweating the Small Stuff / #282
What are pet peeves, and why do we get so peeved about them? The Gwartney Team wonders what constitutes a pet peeve, and whether or not they serve a socially useful function. Along the way, they share their own pet peeves, and let me tell you: these guys are nuts.
Monopoly and Bureaucracy: Why is Centralization Bad? | #281
The possible merger of grocery giants Kroger and Albertsons is in the news. When businesses centralize, there is a danger that they could form a monopoly, which can then exploit consumers. This, at least, is the justification that the governmental bureaucracy gives in order to regulate business mergers and centralization. Problematically, the government itself is, by definition, a monopoly. What is going on?
Join The Gwartney Team as they tease out the costs and benefits of centralization in various forms.
Reference Timeline:
Competition vs. the profit incentive // 3:30
Why centralization of the food supply is dangerous // 7:00
Can economies of scale be maxed out? // 15:00
"A diversity of products better satisfies the diversity of consumers" // 18:00
Losing the price signals of capital goods // 23:45
What goes before a company's fall? // 25:00
Problems with Mental Health? |#280
Our society seems increasingly concerned with and organized around issues related to mental health. Is this development progress, or a symptom of something deeper? How are mental problems related to physical ailments? What does this mean for us? Join the Gwartney team to discuss the growing influence of mental health policy.
Hobbies: why are they important? |#279
When we think about what constitutes human flourishing, we usually think about family and vocation. But this leaves out an important source of meaning in our lives: our hobbies. What is a hobby anyway, and why so many of us consider them so important? Are there any features that make some activities better suited to be hobbies than others? Is our society getting better or worse at having hobbies?
Join the Gwartney team for a discussion about one of life's under-analyzed pleasures: the noble hobby.
Dan Meylan: Business Leadership and Biblical Principles |#278
Ottawa University Alumnus and serial insurance industry entrepreneur Dan Meylan joins the Gwartney team for a discussion. Dan makes the case that biblical principles can inform and improve business operations and leadership, and that this combination can pay compound dividends.
Profit and People - Morality and Business? | #277
In this episode we ask: What is the social responsibility of a business? This was the question on the table during an exciting debate event hosted by the Gwartney Institute earlier this month, and a question that we often hear discussed in our culture. Join us as the Gwartney Team breaks down the different views on this pivotal topic and finds some surprising results!
Timeline:
The Shareholder Theory vs. Stakeholder Theory // 5:00
Milton Friedman "The social responsibility of a business is to
increase profits" // 6:00
Moral Concerns of Stakeholders and Stockholders // 17:00
Playing By the Rules? // 18:30
Institutional Incentives // 27:30
When to End a Friendship | #276
Join us in this "When to end a friendship" episode, where we tackle a tricky question: When is it okay to say goodbye to a friend? As students, we juggle a lot, including friendships that might only sometimes feel right. We'll chat about signs that tell us it's time to move on, like feeling constantly down or disrespected. Plus, we'll share tips on having those tough talks and putting our well-being first. Please tune in and learn when it's time to wave goodbye to toxic friendships and make room for better ones!
Small Town America -Should anything be done? | #275
In this episode, we dive into the heart of Small Town America to explore the challenges and opportunities these communities face. Join us as we discuss whether anything should be done to address the unique issues they encounter. From local economies to community spirit, we unravel the stories shaping small towns' future. Please tune in for an insightful conversation that encourages us to think about the role we all play in supporting the vitality of these cherished communities.
Democracy in Jeopardy - Get Religion? | #274
This episode, we examine the current state of democracy in the United States and recent attempts by appointed and elected officials to remove a candidate from primary elections. Join us as the Gwartney Team discusses the ramifications of this development, and puts forth ideal solutions that could tame the increasingly vehement and irresponsible form of politics we have been experiencing in the 21st century.
Reference Timeline:
2.40 - When is it appropriate to say the people cannot vote for someone?
3.20 - Precedent in the making?
9.30 - The 14th Amendment
11.00 - Emergence of "Lawfare"
14.00 - Banana Republics
19.00 - Carl Popper and his Paradox of Toleration
30.00 - Democracy vs. Republic
40.00 - "Get Religion"
Inspirational -Tribute to Dr. Jim Gwartney | #273
Join us in a heartfelt and inspiring special edition of our podcast as we pay tribute to the remarkable life and legacy of Dr. Jim Gwartney. Delve into the captivating biography of this influential economist who touched the lives of many with his wisdom and guidance. Discover the profound impact he had on those around him and be uplifted by the stories that showcase the enduring inspiration drawn from Dr. Gwartney's life. Tune in for a touching exploration of the lessons and values that made him a beacon of inspiration for all.
Suffering Socialist Argentina Elects New Free Market President | #272
In this new episode "Argentina's Big Change: New President, New Ideas," Russ, Peter, and Justin, chat about Argentina's recent election. The country used to be more about socialism, but now they've chosen a leader who likes the idea of a free-market economy. Join the fun talk as the professors break down what this could mean for Argentina – like, how it might affect their money, people, and relationships with other countries. Get ready for an easy-to-follow podcast that makes understanding politics a breeze!
2024 Predictions -Bitcoin-Economy-Elections | #271
Hello everyone, This week's new podcast, "2024 Predictions: Bitcoin, Economy, Elections," will reveal the upcoming year's events, so get ready! We are dissecting Bitcoin, the financial industry's state, and the elections' current state. Enjoy casual conversations, knowledgeable analysis, and a few surprises. You're welcome to join us as we decipher the future! With that said, put on your headphones and plunge into "2024 Predictions: Bitcoin, Economy, Elections"—foreseeing the future is always advantageous!
Renewable Energy Really Renewable?-Dr. Levi Russell | #270
Let's dive into renewable energy with the awesome Dr. Levi Russell. Wondering if it's as renewable as it sounds? Dr. Russell is here to explain it all without the confusing jargon. Imagine solar panels and wind turbines like superheroes saving the planet. Dr. Russell helps us understand how these cool technologies work in simple terms that even your grandma could get. Are you curious about why everyone talks about renewable energy? This episode spills the beans!
High Costs of Wind and Solar Worth It? -Dr. Levi Russell | #269
Explore the economic trade-offs of wind and solar energy with Dr. Levi Russell. Delve into whether the high costs are justified in this insightful episode questioning the sustainability of renewable power.
Sinful Usury Interest Rates? - Dr. Levi Russell | #268
In this eye-opening episode, join Dr. Levi Russell as he demystifies the complex world of interest rates and explores the ethical implications of usury. Geared towards students, Dr. Russell breaks down the concept of usury, delving into its historical context and shedding light on how it impacts individuals and societies today. Discover the fine line between fair lending practices and exploitation, and gain a clearer understanding of the moral considerations surrounding interest rates. Whether you're an economics enthusiast or just starting to grasp financial concepts, this podcast provides a thought-provoking exploration of the controversial realm of interest rates.
Women and Economic Freedom- Dr. Rosemarie Fike | #267
In this enlightening episode, Dr. Rosemarie Fike explores the intersection of women's empowerment and economic freedom, shedding light on key insights that challenge and redefine traditional perspectives. A must-listen conversation on fostering equality and prosperity.
Smashing Priceless Art -Protests or Terror? | #266
Uncover the blurred lines between protest and terror as we explore the controversial act of smashing priceless art. Is it a form of protest or an act of terror? Tune in
Light Bulb Freedom -Government Failure? | #265
Tune in to 'Light Bulb Freedom: Government Failure?' and join the conversation on individual rights and government intervention. Explore the unintended consequences of well-intentioned policies as we shed light on a grassroots movement advocating for personal liberties. Don't miss this compelling episode—listen now and be part of the discussion!"
Charitable Gifts On the Street Moral? | #264
Join us for a thought-provoking discussion on the morality of charitable gifts on the street in our latest episode, "Charitable Gifts On the Street: Moral?" Explore the ethical dimensions of spontaneous generosity. Listen now and share your thoughts!
Entrepreneurship Insights - Chad Steenhoek | #263
Embark on an entrepreneurial odyssey with Chad Steenhoek, unraveling his unparalleled insights in "Entrepreneurship Insights." Journey through the uncharted terrains of his triumphs, failures, and pivotal lessons, guiding listeners towards their own prosperity. Uncover practical wisdom and cutting-edge strategies from a trailblazing industry leader, offering a compass to navigate the challenges of the business world. Tune in and revolutionize your entrepreneurial journey today.
Reason Your Way to God? Philosophy vs Theology -Pastor Timothy Roth | #262
Join Pastor Timothy Roth in 'Reason Your Way to God? Philosophy vs Theology' as he delves into the age-old debate between philosophy and theology. Discover how these two disciplines intersect and diverge, and explore the profound questions surrounding faith, reason, and spirituality. Whether you're a philosopher, a theologian, or simply curious, this podcast will spark your intellectual curiosity and invite you to explore the path to understanding God from different perspectives.
Reformation, Confession, Church Differences -Pastor Timothy Roth | #261
Tune in to Pastor Timothy Roth's captivating podcast episode delving into the Reformation's enduring legacy, the transformative power of Confession, and the nuances of present-day Church differences. Engage with history and modern spirituality—listen now for a profound understanding of faith's evolution and challenges."
Unemployment - Get a Job? | #260
In this new episode, we talk about unemployment in the US. We will examine how the employment market has altered over the past 20 years, particularly for men and women. We will simplify it and read the statistics and patterns that have shaped the labor market. It is more than simply numbers. It is about comprehending how the employment landscape has changed. Listen to find out how "Unemployment" is becoming.
Winners and Losers - Government Protecting US Auto | #259
Join our riveting podcast as we dissect the transformative impact of the U.S. government's protective measures on the auto industry. In this thought-provoking episode, we unravel the intricate dynamics shaping the fortunes of industry titans and the nuanced repercussions on consumer choices. Stay tuned to unravel the captivating narrative of resilience and vulnerability within America's automotive realm.
Power -Maybe Machiavelli Was Right | #258
Let's talk about power! In this episode, we discuss whether the old ideas of Machiavelli, an intelligent thinker from the past, still make sense today. We'll break down the tricks, problems, and tough choices that come with having power. Join us for a chat about what Machiavelli can teach us about power in our world today. Listen now!
End Tax-Exempt Status for Churches | #257
Dive into the contentious debate over tax-exempt status for churches. Uncover the historical context, grapple with the clash between religious freedom and fairness, and discover the tangible consequences. Join us for a thought-provoking exploration of this critical issue that's shaping our society. Don't miss this eye-opening episode!
Church Finance, How Should We Spend? | #256
The most recent episode of "Church Finance, How Should We Spend?" examines the sensitive and frequently complicated subject of church budget distribution. Join our Gwartney Institute professors Russ, Peter, and Justin as they discuss ethical issues and best practices for allocating financial resources within a Christian group.
Productive or Fruitful, What Does God Want? | #255
Discover the answer to a profound question in our latest podcast episode: "Productive or Fruitful, What Does God Want?" Dive into spiritual insights and practical wisdom, and join us on a journey to find purpose in your daily life. Tune in now and gain valuable perspective!
Rich Men in Richmond? | #254
We highlight the injustices committed against the rural working class in this episode of "Rich Men in Richmond?" Join us as we explore the unsung tales of devout people who Richmond's wealthy elite has frequently eclipsed. We'll talk about the difficulties, problems, and structural injustices that the rural working class faces as we examine the effects of economic inequality on their daily lives.
Investment Advice -Dollar Cost Averaging and More | #253
In this enlightening episode of "Investment Advice - Dollar Cost Averaging and More," we dive deep into the world of investment strategies and a whole lot more! Join our expert hosts as they unravel some secrets of "Dollar Cost Averaging", a strategy that can revolutionize your investment game. Listen now!
Personal Finance -Pitfalls to Watch for | #252
Money counts, especially in college, Don't Get Caught! Episode 252 Personal Finance Pitfalls to Watch for. Join us this week as we explore the top financial mistakes that even the most intelligent students can fall victim to. We have the advice to keep financially healthy and prosperous, from credit card mayhem to budgeting gaffes. Watch now to take control of your finances and safeguard your future with smart money moves. Listen now!
Work From Home Does Not Work? | #251
"Join us on a journey of workplace transformation with 'Work From Home Does Not Work?' podcast. Get into the captivating world of remote work as we unravel its intricate layers. Tune in to explore intriguing topics like the unseen switching costs that impact your remote experience. We openly talk about the diverse work styles and home environments that make working from home a better fit for some than others. Discover how the competitive job market is reshaping the remote work scenario, and learn why companies are reconsidering virtual work arrangements. Listen Now!
Working from home is not for everyone / 5:39
Competition bringing people back / 7:05
Office Culture / 9:25
Team Production / 11:40
Institutions and Norms in Society / 20:00
Minimizing Production / 26:00
Romantic Relationships And Money | #250
This audio episode explores the complex relationship between money and romance. We examine how contemporary sensibilities change how we approach money in partnerships, from splitting costs to making financial decisions. We also explore the role of tradition, looking at how ideas like arranged weddings respond to shifting economic conditions. The episode emphasizes people's sacrifices for their partners and explores whether financial compatibility can lessen these difficulties. Watch for enlightening interviews with subject matter experts and true tales that shed light on the complicated relationship between money and love.
Modern Sensibilities / 3.00
Traditional relationship / 4.00
Arranged marriage / 6.10
Property Rights / 19.00
Independent finances / 28.00
Ex-Pats Hurt Developing Countries? | #249
In this episode, we focus on neocolonialism as we examine the effects of the rising trend of expatriates on developing nations. We explore the drawbacks of expatriation and discuss how it affects both the ex-pats and the locals. The podcast questions the effects of the precise cultural mismatch between ex-patriots and their new homes on regional identity and traditions. Join us as we evoke discussion on the moral obligations of expatriates and their impact on the socioeconomic environment of their host countries. Listen now!
Ruler vs Ruled | #248
Explore the world of "Power Struggle: Ruler vs. Ruled," resulting in probes of the intricate connection between individuals in control positions and those they rule. Explore Adam Smith's principles and their impact on power dynamics as you unravel the historical development of democracy and its effect on empowering the populace. Consider the difficulties of majority rule while keeping the rights of minorities in mind. Travel through time to see how the monarchy has shaped society by rising and falling. Finally, examine fascism's shadowy side and how it affects personal freedoms. Listen now!
Timeline
Democracy, Adam Smith // 4:50
Majority Rule Problems // 10:30
Monarchy & Fascism // 18:30 Ceterus Parabus // 30:10
Definition Problem // 38:15
Transhumanism - Government Control? | #247
Welcome to our podcast episode, where we explore the fascinating world of transhumanism and how it relates to government control. Transhumanism is about using advanced technology to enhance human abilities, like outsourcing our brains or merging technology with our minds.
This episode discusses these technologies' ethical questions and how governments might get involved. We'll also look into "Bitcoin breaking the normal danger of centralized decisions" and how it connects to transhumanism.
Timeline:
Outsourcing Brains // 2:30
Technology & Brains // 12:00
Bitcoin - Breaking The Norm // 17:50
Danger Of Centralized Decisions // 26:00
Transhumanism - Live Like God? | #246
In this episode, we dive into the challenges and uncertainties of transhumanism. We will discuss the tough questions about what it means to be human and the potential consequences of transforming ourselves in profound ways. Does altering our physical bodies undermine God? Listen now!
Timeline:
Are You The Same As You Where In Kindergarten? // 4:30
Life Is In The Memory // 8:45
Memory, Schmemory // 16:00
Memory and Transhumanism // 22:00
The Teleporter // 30:00
Bernard Williams - Philosophy
Christopher Nolan - The Prestige
John Locke - The Prince and The Cobbler
Donald Davidson - Philosophy
The Ship of Theseus - Philosophy Thought Experiment
Transhumanism – Morally Still Man? |#245
In this episode, the Gwartney Team discusses the transhumanism movement. Join us as we define this concept and discuss whether or not it should be an ultimate goal for our society.
Transhumanism / 1:30
When we prolong and improve life, is it still human? / 10.25
The Heavens Gate Comet / 15.00
Lost common tongue / 17.00
Faith and transhumanism / 20.15
Aim to be like "God" / 26:30
Error in the leaps / 34.00
Repugnant Conclusion with Population Growth | #244
In this episode, the Gwartney Team discusses Derek Parfit's Mere Addition Paradox relating happiness and population. Parfit's "Repugnant Conclusion" is that a huge population living a life of little happiness, is preferable to a small, but universally happy population. Join us as we break down this paradox from a faith perspective.
Philosophical ideas of a beneficial society / 3.00
Should society push for population growth? / 10.15
Arguments against the Mere Addition Paradox / 15.00
Is Z better than A? / 24.45
The Drake Equation for General Welfare / 30.30
Reasons and Persons-Derek Parfit
Popular Science Is Bad? | #243
In this episode, the Gwartney Institute discusses popular science and some of the dangers of trusting the science. Is there a stigma around popular science that does not try to teach, but merely entertain? Join us as we discuss how popular science may have more negative effects than positive.
Aliens - Where Are They? | #242
In this episode, the Gwartney team discusses the possibility of aliens after the United States Government declassified information that supports the existence of extraterrestrial life. We attempt to lay some of the intellectual groundwork that is necessary for the discussion of aliens by discussing multiple theories that have emerged over the past 50 years and wonder, would it be in humans best interest for aliens to exist? Join us for a fun and informative conversation over one of the more mysterious topics within society today.
Timeline:
Arguments For/Against Aliens // 1:45
Zero Communicative Life //7:30
Abiogenesis //12:00
Slipped Through the Great Filter? //22:00
Too Dangerous to Communicate //29:15
Drake Equation
Pharme Paradox
Nick Bostrom
Three Body Problem
Dark Forest Theory
"Thinking About the Infinite |#217" - https://podcasters.spotify.com/pod/show/faithandeconomics/episodes/Thinking-about-the-Infinite--217-e1snbf0/a-a93jbia
I Can’t Sell Honey at the Farmer’s Market? | #241
This week's discussion covered a recent story about a local woman who is pushing back against the regulations banning gardening and keeping bees as a business in the city of Ottawa KS. Join us as the Gwartney Team discusses entrepreneurship, home businesses, and property rights.
Timeline:
Restrict the Business / 3.00
Government is thinking of Externalities? / 6.30
Private Solutions or Collective Action / 13.15
People require too much of one another? / 19.30
Reduced competition / 22.45
Vote with your feet / 27.00
https://kansasjusticeinstitute.org/case/right-to-earn-selling-home-raised-honey/