The Economist Next Door

Why is housing so expensive in America? On this episode of The Economist Next Door , Paul Mueller sits down with AIER scholars Julia Cartwright and Jason Sorens to unravel the mystery behind America's housing crisis. They explore how supply and demand, zoning restrictions, building regulations, local "busybodies," and federal housing policies have combined to make housing increasingly expensive. They also examine whether gentrification is really the problem, why communities often resist new development, and how restrictions on housing construction can affect everyone from renters to homeowners. So where is the solution? Cartwright and Sorens explain why the most promising answers may not come from Washington, but from states and local communities willing to rethink how housing gets built.

Before 1953, almost nobody called themselves a "conservative." In this episode of The Economist Next Door, host Paul Mueller sits down with Jeff Nelson, director of the Russell Kirk Center for Cultural Renewal, at Kirk's historic home in Mecosta, Michigan. They explore how Russell Kirk's landmark book The Conservative Mind gave shape and name to a tradition that stretched back through the Founding, examine Kirk's friendships and sparring partners — from Hayek and Buckley to T.S. Eliot and Ray Bradbury — and dig into his views on free enterprise, tradition, and the "principle of variety." Along the way, they share personal stories about Kirk's eccentric life in Mecosta, his legendary hospitality, and why his ideas on civil society still matter for anyone thinking about economics, culture, and freedom today.

What happens when a political movement abandons ideas for power? Stephanie Slade, senior editor at Reason and author of Fusionism: Liberty, Virtue, and the Future of the American Right , joins Paul Mueller to discuss the conservative philosophy that shaped the twentieth century—and why it is now under attack. They explore the Fusionist tradition, the relationship between liberty and virtue, the rise of Trumpism and the dissident right, the temptation of authoritarian politics, and the importance of the classical liberal institutions that limit power. They also discuss why young people are increasingly drawn to radical ideas and what defenders of liberty must do to win the battle of ideas.

What makes an entrepreneur? Is it the ability to disrupt entire industries, as Joseph Schumpeter argued, or the alertness to spot opportunities others overlook, as Israel Kirzner emphasized? In this episode of The Economist Next Door , Paul Mueller, Pete Earle, and Jeff Degner explore the Austrian School's distinctive theory of entrepreneurship. They discuss creative destruction, entrepreneurial alertness, arbitrage, innovation, intellectual property, and the role of middlemen in coordinating markets. They also examine a controversial question: Do patents encourage innovation—or can they actually protect incumbents and slow the very process of competition they are supposed to promote? From Henry Ford and the automobile to artificial intelligence and today's technology giants, the conversation explores how entrepreneurs disrupt, adapt, discover, and create value in a constantly changing economy.

Paul Mueller and David Kotter examine one of today's most debated policy proposals: Universal Basic Income (UBI). As advances in artificial intelligence reshape the economy, some argue that unprecedented productivity could make work optional. But what would that mean for the social safety net, individual responsibility, and human flourishing? Drawing from a classical liberal perspective, Paul and David explore the economic and philosophical arguments surrounding UBI, how it compares with alternatives such as a negative income tax, and what these policies could mean for incentives, innovation, economic growth, and opportunity.

While inflation has dominated headlines in recent years, understanding true economic affordability requires looking beyond raw price tags. In this episode of The Economist Next Door , we dive into the gap between headline inflation numbers, consumer perception, and real purchasing power. Joined by economists Dr. Anne Bradley (The Fund for American Studies / Institute for World Politics) and Peter C. Earle (AIER), the discussion re-frames how we measure well-being, considering the actual labor hours required to purchase everyday goods. The group explores why humanity enjoys unprecedented long-term abundance, while consumers simultaneously feel intense pressure in housing, healthcare, transportation, and food.

What happens when families, churches, neighborhoods, and civic institutions begin to disappear? Economist Paul Mueller and political philosopher Luke Sheahan explore the ideas of Robert Nisbet, the overlooked thinker who warned that people deprived of meaningful community would drift toward loneliness, despair, or political fanaticism. From ancient Rome to the modern welfare state, this episode of The Economist Next Door examines why strong individuals require strong communities—and what we lose when the state replaces them.

Social Security is facing a serious financial crisis. By 2032, the program's trust fund is projected to be depleted, triggering automatic benefit reductions unless Congress acts. But the problem runs deeper than a looming funding shortfall. Social Security was built for a different era—one with more workers supporting fewer retirees and shorter retirement periods. In this episode of The Economist Next Door , Paul Mueller is joined by Dave Hebert, head of AIER's Economic Freedom Team, for a conversation about why Social Security is struggling, why many proposed fixes may only delay the problem, and what a fundamentally different approach to retirement might look like. They discuss the history of Social Security, the reality behind the trust fund, the challenges of raising taxes or adjusting retirement ages, and whether a system built around personal retirement accounts could provide a more sustainable path forward.

Recessions are often explained as the inevitable result of excess: too much borrowing, too much speculation, too much optimism, or some hidden imbalance waiting to be corrected. But what if that story is wrong? In this episode of The Economist Next Door , host Paul Mueller talks with Tyler Goodspeed, chief economist at ExxonMobil and author of Recession: The Real Reasons Economies Shrink and What to Do About It , along with AIER President Samuel Gregg, about what 300 years of economic history reveal about downturns. Goodspeed argues that recessions are not predictable corrections caused by the excesses of previous expansions. Instead, they are often triggered by unexpected shocks — from energy crises and natural disasters to financial disruptions — that interrupt economic activity. He explains why the historical record challenges the familiar boom-bust narrative and why recoveries, rather than expansions, are often the true correction. The conversation also explores why humans are drawn to stories of blame and punishment when economies falter. From the Great Depression to the 2008 financial crisis, policymakers and the public have often searched for villains and embraced narratives of moral failure. But those stories can lead to misguided interventions that prolong economic pain. Paul, Tyler, and Sam discuss what this perspective means for today's economy, including debates over AI, technological change, and fears of another boom-bust cycle. They examine why we are quick to identify the next economic villain — and why focusing on long-run growth, resilience, and human flourishing matters far more than trying to eliminate every downturn.

Artificial intelligence is no longer a distant technology of the future—it is already reshaping how people work, learn, create, and solve problems. In this episode of The Economist Next Door , Paul Mueller explores the practical and philosophical questions surrounding AI with three guests — Jacob Mueller, co-founder of short-term rental management company Renjoy; Nicholas Roseveare, software engineer and developer at Revenue Solutions; and Tanner Thetford, pastor at First Baptist Church of Leadville — who are actively using these tools in their work and daily lives. The conversation goes beyond productivity gains to examine deeper questions about how humans should use AI. Like every powerful tool, the question is not simply whether we use it, but how we use it.

Artificial intelligence is often discussed in terms of productivity, jobs, and economic growth. But the deeper question is a human one: Will AI help us become more fully human? In this episode of The Economist Next Door , Dr. Paul Mueller brings together three guests to examine AI from different angles. They discuss how entrepreneurs, programmers, and educators are using AI today—and wrestle with the harder questions surrounding technology, work, creativity, and human purpose. Will AI free people to pursue more meaningful work, or will it weaken the habits and relationships that make us human? Can artificial intelligence serve as a tool for human flourishing, or will it encourage dependence and disengagement? Listen to this thought-provoking conversation on the economic and moral questions surrounding one of the most transformative technologies of our time.

As America approaches the 250th anniversary of the Declaration of Independence, host Paul Mueller sits down with historian Brad Birzer to explore the ideas that gave birth to the American experiment. Together, they examine what made the Declaration such a revolutionary document, why its principles remain relevant nearly two and a half centuries later, and the radical claim at its heart: that all people are created equal and possess rights that no government can rightfully take away. Mueller and Birzer discuss the intellectual influences behind the Declaration, the courage required to sign it, and the enduring importance of natural rights, self-government, and human dignity. They also reflect on how the Declaration transformed political thought around the world and why its message continues to shape debates about liberty today. Join us for a timely conversation about the most radical—and important—idea in the Declaration of Independence.

Host Paul Mueller is joined by AIER scholars Tom Savidge and Dave Hebert to discuss one of the most intriguing and controversial provisions in the One Big Beautiful Bill: Trump Accounts. The program would provide government-seeded investment accounts for children, with supporters arguing that it could expand ownership, encourage long-term wealth building, and foster a stronger culture of saving and investing. Are Trump Accounts a meaningful step toward an ownership society, or are they simply another government program destined to fall short of its promises? Paul, Tom, and David debate the merits and drawbacks of the proposal, examining everything from financial literacy and intergenerational wealth to government incentives, philanthropy, and the future of retirement security. Along the way, they spar over whether giving every child a stake in the market could strengthen capitalism, encourage broader participation in wealth creation, and reshape the relationship between citizens and the economy.

In this episode of The Economist Next Door , host Paul Mueller is joined by Tom Savidge and Julia Cartwright of the American Institute for Economic Research (AIER), along with Richard Morrison of the Competitive Enterprise Institute (CEI), to explore how basic economic thinking shows up in everyday life. Using accessible, real-world examples—from wedding dresses and tuxedos to sneakers, thrifted fashion, housing regulations, and consumer choice—the conversation highlights how trade-offs, discounting, incentives, and social norms shape ordinary decisions. It moves from household economics to broader policy debates, including regulation, market variety, and the unintended consequences of quality standards in housing and consumer goods. The episode makes clear that economics, at its core, is not merely a technical discipline for experts, but a practical framework for understanding how people make choices under scarcity, constraints, and competing values in daily life.

In this episode of The Economist Next Door , host Paul Mueller speaks with economist Vance Ginn about one of the most contentious issues in state and local fiscal policy: property taxes. Ginn argues that property taxes pose a fundamental challenge to private ownership, since homeowners must continue paying taxes on their property even after paying off their mortgage. The conversation explores alternatives to the current system, including the possibility of replacing property taxes with broader sales taxes. Ginn outlines a reform framework that emphasizes spending restraint, tax base broadening, and a gradual "buy-down" approach to reducing reliance on property taxes over time. Mueller and Ginn also discuss how different tax structures shape government behavior, interstate competition, and housing markets, as well as the trade-offs between stability in revenue and economic distortions. Could a consumption-based tax system offer a more transparent and less burdensome foundation for funding local government? Listen and find out!

In this episode of The Economist Next Door , Paul Mueller is joined by fellow American Institute for Economic Research scholars Jeff Degner and Dave Hebert to examine the economics behind America's student debt crisis. The conversation explores how decades of federal aid and subsidized student loans helped fuel tuition inflation, reshape university incentives, and transform higher education into a debt-driven consumption economy. The scholars discuss credential inflation, luxury campus amenities, signaling theory, Austrian business cycle theory, and the unintended consequences of government intervention in higher education. They also examine why so many students leave school with debt but no degree, how colleges use price discrimination, and whether reforms such as shorter degree programs, income-sharing agreements, and AI-driven education tools could lower costs and improve outcomes. No PhD required.

In this episode of The Economist Next Door , host Paul Mueller joins scholars Pete Earle and Jeffery Degner to explore why socialism continues to hold intellectual and popular appeal despite a long record of practical failure. The conversation examines the emotional and moral narratives that sustain socialist ideas, from claims about fairness and control to dissatisfaction with perceived inequalities in modern market economies. It also revisits the historical economic debate over central planning versus market coordination, drawing on insights from the Austrian tradition and the calculation debate. The discussion then turns to the core mechanisms of market economies—prices, profits, and dispersed knowledge—and why these remain difficult to replicate through central planning or algorithmic systems, including modern claims about artificial intelligence. Along the way, Paul and his guests unpack how interventions, regulations, and political incentives shape economic outcomes in ways that often obscure the role of markets themselves. The result is a broad examination of socialism's enduring appeal and the persistent challenges it faces in practice.

In this episode of The Economist Next Door , economist Paul Mueller sits down with AIER Senior Research Fellow Peter C. Earle to explore one of the biggest questions in global finance: Is the U.S. dollar losing its dominance? Drawing on Earle's extensive research into dollarization and international monetary systems, the conversation examines how the dollar became the world's reserve currency, why it remains central to global trade and finance, and what growing efforts to bypass the dollar could mean for America and the world. From the hidden advantages Americans enjoy under dollar dominance to the rise of alternative payment systems and growing efforts to bypass the dollar, Paul and Pete explore how sanctions, Federal Reserve policy, mounting U.S. debt, and technological change are reshaping the global financial order — and what it could mean for America's economic future. Is the dollar's dominance truly fading or simply evolving? Listen and find out!

In this episode of The Economist Next Door , host Paul Mueller is joined by AIER colleagues Tom Savidge and Julia Cartwright to examine one of the most persistent claims in American politics: that billionaires pay little or nothing in federal taxes while ordinary workers carry the burden. The conversation breaks down the federal tax system — including taxes on income, capital gains, corporate earnings, and payrolls — showing why headlines about the ultra-wealthy often obscure reality. Along the way, the scholars explain why high-income earners still account for a disproportionate share of federal revenue even as the code contains a maze of deductions, exemptions, credits, and loopholes. The scholars explore the deeply convoluted — and often regressive — nature of the tax system, including the compliance costs, incentives, and distortions it creates for workers, investors, and entrepreneurs alike. The discussion touches on the "Bootleggers and Baptists" dynamic in tax policy, where moral arguments about fairness often align with the interests of well-connected groups that benefit from preserving complexity and special carveouts. The episode also examines the Laffer Curve and the idea that excessively high tax rates can discourage productive activity and ultimately reduce economic growth and tax revenue. What would a simpler, less distortionary tax system look like? And why is meaningful reform so difficult? Listen and find out!

What is the Austrian school of economics—and why does it still shape debates about markets, money, and government today? In this episode of The Economist Next Door , host Paul Mueller is joined by economists Pete Earle and Jeff Degner to break down one of the most influential—and controversial—traditions in economic thought. From the marginal revolution to modern debates over central banking, they explore how Austrian economists think about prices, knowledge, and human behavior. The conversation covers the socialist calculation debate, the role of interest rates in boom-bust cycles, and why ideas from Mises and Hayek continue to resonate in business, finance, and policy circles today. It also asks a provocative question: Who is the greatest economist to ever live?