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
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
‘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
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
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
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.
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
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)
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
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.
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
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?
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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:
“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
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:
“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
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