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Capital Record

National Review
Artificial Intelligence
Venture Capital
U.S. Economy
Economics
Environmental, Social, and Governance
Economic Policy
China
Emerging Technology
Free Enterprise
Conservatism
Japan
Climate Change
Capital Markets
Technology
Redballoon
Education
Stakeholder Capitalism
Net Zero
American Institute For Economic Research
Diversity, Equity, Inclusion

American prosperity was built on a foundation of free markets and free people. But, with inflation on the rise and a struggling market, many in America’s political class are attempting to recycle failed socialist ideas and calling for government intervention in nearly every aspect of American life. In this National Review Capital Matters podcast, presented by the National Review Institute, financi... more

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Latest Episodes

Is it a good thing for wealthy people to give money away? Is it a good thing for them to give half of it away? All of it? Is a pledge a gift? How should one who values a virtuous society think about this very idea? In this Capital Record, David looks... more

The World Bank has spent three decades saying industrial policy is a bad way to go -- stunting growth, creating bad signals, and facilitating suboptimal outcomes. But now, lo and behold, they claim that government management of an economy can be a ve... more

Do financial transactions all add up to zero? Should we be more concerned with piety than technique? Is a business going out of business a good thing if the founder treats his people well? Does money serve a greater purpose if we apply nice-sounding ... more

David is joined this week by a very special guest, Tim Estes, for a thorough discussion on artificial intelligence. But this is not one of those exhausting conversations about whether or not AI would take our jobs, or is a good investment, or one of ... more

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Recent Guests

Tim Estes
AI entrepreneur and policy thinker
Angel Q / AI entrepreneur
Episode: Episode 287: What the Right Is Getting Wrong About AI
Renè Aninao
Longtime guest on Capital Record, geopolitical and macroeconomic analyst
Episode: Episode 286: Market Discipline: A Tour Around the Globe with Renè Aninao
René Ananow
Special guest with insights on Venezuela, China, and Russia
Corbu
Episode: Episode 279: Solving the Right Problem the Wrong Way Does Not Solve the Problem
Joel Griffith
Senior Fellow at Advancing American Freedom, former Heritage Foundation member
Advancing American Freedom
Episode: Episode 254: Making a Bad Idea Tariffable
Richard Reinsch
Writer and commentator, reviewed economic arguments in 'Reading the New Conservatives'
Law and Liberty
Episode: Episode 253: What’s New Is Old: Unpacking New Right Populist Economic Arguments
Dr. Lacy Hunt
PhD economist with 40 years of experience in monetary economics and interest rates.
Episode: Episode 247: A Sober View of the Economy
Dr. Michael Pakaluk
Professor of Political Economy at the Catholic University of America
Catholic University of America
Episode: Episode 219: Be Good Bankers
Dan Clifton
Senior Policy Analyst at Strategas Research
Strategas Research
Episode: Episode 199: 2025 Policy Impact on Markets
Dominic Pino
Lead writer for National Review's Capital Matters
National Review
Episode: Episode 198: Cabinet Economics

Host

David Bahnsen
Host of Capital Record

Reviews

4.8 out of 5 stars from 537 ratings
  • Ep 284

    Well then…. I haven’t heard quite that much passion on the CR before. Although much was over my head I learned a bunch!

    Viva la CR

    Apple Podcasts
    5
    WoW!!!!!!!!!!!!!!!
    United Statesa month ago
  • The state is responsible for civic organization decline

    Ep. 282 is terrific! The state—not free markets is responsible for alienation and isolation. Civic and social organizations are stronger with a purpose. A larger welfare state crowds out the purpose of charity and for community engagement.

    Apple Podcasts
    5
    Tenacious PJ
    United States2 months ago
  • Common Grace

    One of my favorite economic podcasters talking about one of my other favorites. David Bahnsen and Scott Galloway should join forces.

    Apple Podcasts
    5
    Better than "Cats".
    United States3 months ago
  • A Trusted Voice

    All this turns out to be just a year long complaint about tariffs, quite sad.

    Apple Podcasts
    1
    DMHarrington
    United States3 months ago
  • Hayek Broadband

    They should play this at the beginning of every lecture in every economics, regulatory, law, marketing, finance, basket-weaving, gender studies class on every college campus, in all of the US ad infinitum. Unfortunately, we are raising generations of children who a) remain children well into adulthood, and b) think the fix for every perceived injustice is government regulation and more laws. What a blessing to have your voice in the midst of this insanity.

    Apple Podcasts
    5
    takane124
    United States9 months ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Content is appreciated for practical implications on business and investing.
Guests are seen as credible and the host as a strong, opinionated guide.
Listeners value principled economic analysis paired with guest diversity.
Some critics note format changes or pacing differences over time.
Praise for clear free-market advocacy and thoughtful policy framing.

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Talking Points

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Episode 287: What the Right Is Getting Wrong About AI
Q: How should we think about regulation and incentives in a way that doesn't choke innovation while protecting users?
Tim argues for smart, consistent regulation with a duty of loyalty for AI providers, balanced with incentives and safety nets rather than broad bans. He advocates federal standards paired with state-level action, liability structures, and practical safeguards (like age verification and content controls) that align with conservative principles of free markets, human dignity, and national security.
Episode 287: What the Right Is Getting Wrong About AI
Q: What do you mean by AI versus what we now think of as AI, given the different generations and breakthroughs you described?
Tim explains the progression from simple document processing and entity recognition to deep learning, Transformer architectures, and generative models that predict the next token, enabling coherent language, planning, and large-scale reasoning. He emphasizes that current AI is built on decades of work and represents a qualitative shift in capabilities.
Episode 287: What the Right Is Getting Wrong About AI
Q: So Tim, why are you the guest to talk about this subject, what is your background and what got you animated around this subject?
Tim outlines a 25–26 year history in AI, including post-9/11 security applications, corporate uses in finance and healthcare, and a long-term focus on applying AI to combat child exploitation. He emphasizes the arc from early NLP to deep learning, and how societal and policy questions around AI have become central as technology has grown more capable and pervasive.
Episode 173: Getting Based with Work
Q: Do you think the conference, do you think the subject, do you think you're the passion you feel for it is largely driven by a message you'd like to see the church get on with, you want an antidote to laziness, is it a kind of personal character issue or do you think there's something more broadly economic at play?
It's a mix of wanting to drive home a message to the church about work and the dignity found in it, while also acknowledging broader economic challenges.
Episode 169: Déjà vu and Demography
Q: What is the general takeaway of this piece that you wrote in late March?
The piece argues that many American economic debates relate back to a false perception of China as a rising power necessitating protectionist policies. In reality, China faces significant economic issues.

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Frequently Asked Questions About Capital Record

What is Capital Record about and what kind of topics does it cover?

The show consistently fronts discussions on free markets, economics, and policy from a principled, often Christian-ethical lens. Recent episodes span artificial intelligence policy, macroeconomics and geopolitics, corporate governance, and the interplay between market forces and government action. Guests range from AI entrepreneurs to seasoned economists and business leaders, with a clear emphasis on defending capital markets, individual responsibility, and practical implications for business and public policy. A notable throughline is balancing innovation and regulation, while maintaining a strong stance in favor of market-based solutions and moral framing of economic issues.

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Which podcasts are similar to Capital Record?

These podcasts share a similar audience with Capital Record:

1. The Dividend Cafe
2. National Review's Radio Free California Podcast
3. The Editors
4. The Charles C. W. Cooke Podcast
5. The McCarthy Report

How many episodes of Capital Record are there?

Capital Record launched 5 years ago and published 35 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on Capital Record?

Recent guests on Capital Record include:

1. Tim Estes
2. Renè Aninao
3. René Ananow
4. Joel Griffith
5. Richard Reinsch
6. Dr. Lacy Hunt
7. Dr. Michael Pakaluk
8. Dan Clifton

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