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Artwork for The Capitalism and Freedom in the Twenty-First Century Podcast

The Capitalism and Freedom in the Twenty-First Century Podcast

Jon Hartley
Economic Growth
Inflation
Monetary Policy
Milton Friedman
Federal Reserve
Macroeconomics
Tax Policy
Fiscal Policy
Public Policy
Economic Policy
Laffer Curve
California
Remote Work
Monetarism
Inflation Targeting
Government Spending
Empirical Macroeconomics
Supply-Side Economics
Harvard University
Industrial Policy

This podcast is focused on economics, finance and public policy, with a common thread to exploring some of the ideas of the late economist Milton Friedman titled after his 1962 book ”Capitalism and Freedom”.

PublishesTwice monthlyEpisodes75Founded5 years ago
Number of ListenersCategories
HistoryNewsBusiness News

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Artwork for The Capitalism and Freedom in the Twenty-First Century Podcast

Latest Episodes

Jon Hartley and Sebastian Edwards discuss Edward’s time at the University of Chicago as a PhD student in the time of Milton Friedman and the Chicago School, Chile’s market reforms and the Chicago Boys (documented in Sebastian’s most recent book, The ... more

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Jon Hartley and Phil Gramm discuss Graham’s career as an academic economist at Texas A&M, his service in the US House of Representatives and in the US Senate, and his work on the Gramm-Rudman-Hollings and Gramm-Leach-Bliley legislation. Graham also t... more

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Jon Hartley and Niall Ferguson explore Niall's career, the power of networks in his books The House of Rothschild volume one (1998) and volume two (1999), and The Square and the Tower (2017); the rise and fall of empire in his books Empire (2003) and... more

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Jon Hartley and Stephen Miran discuss Stephen’s new paper on strategies to reduce the Federal Reserve’s balance sheet, the state of inflation and the labor market in the US economy, estimating the neutral rate of interest and the stance of current mo... more

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Recent Guests

Phil Gramm
Former U.S. Senator (Texas)
U.S. Senate; Banking Committee; author
Episode: Former US Senator Phil Gramm on Inequality Fallacies and How Economic Freedom Creates Growth | Hoover Institution
Niall Ferguson
Milbank Family Senior Fellow in the Hoover Institution; historian and author
Hoover Institution
Episode: A History of the West After Adam Smith’s Wealth of Nations With Niall Ferguson | Hoover Institution
Steve Miran
Current governor of the Federal Reserve Board
Federal Reserve Board
Episode: Reducing the Fed’s Balance Sheet With Fed Board Governor Stephen Miran | Hoover Institution
Charlie Calomiris
Emeritus professor of finance at Columbia Business School; banking scholar and author
Columbia Business School; Shadow Open Markets Committee
Episode: Banking Systems and Crises from Deposit Insurance to Stablecoins with Charles Calomiris | Hoover Institution
Jim Esposito
President of Citadel Securities
Citadel Securities
Episode: Is Miami Becoming Wall Street South? With Citadel Securities President Jim Esposito | Hoover Institution
Tevi Troy
Presidential Historian and author
Reagan Institute
Episode: The White House vs. Industry Titans: A History of American Power Struggles with Tevi Troy | Hoover Institution
Luis Garicano
Spanish economist, professor of public policy at the London School of Economics, and former European member of Parliament
London School of Economics
Episode: Why Does Europe Struggle with Innovation? With Luis Garicano | Hoover Institution
Matteo Maggiori
Maghadam Family Professor of Finance at Stanford Graduate School of Business, Senior Fellow at the Hoover Institution
Stanford University
Episode: Matteo Maggiori on China, Geoeconomics and Exchange Rates | Hoover Institution
Don Brash
Former Governor of the Reserve Bank of New Zealand and prominent economist
Reserve Bank of New Zealand
Episode: The Origins of Inflation Targeting in New Zealand with Don Brash | Hoover Institution

Host

Jon Hartley
Host of The Capitalism and Freedom in the 21st Century Podcast

Reviews

4.6 out of 5 stars from 74 ratings
  • Poor audio

    Check the audio and quality of recording mates!!! Some episodes are barely audible

    Apple Podcasts
    2
    Orlac2
    Italy10 months ago
  • Potential for 5 stars

    Interesting topics and excellent guests. Two issues that could be addressed: (1) as others have said the sound quality is generally poor, and (2) the host talks too much — almost a monologue leading up to every question. I would like to hear more from the guests and less from the host.

    Apple Podcasts
    3
    modmica
    United Statesa year ago
  • Sound quality could be improved

    The content in this podcast series is great, but the recorded sound quality of some guest speaker voices is uneven which makes them hard to understand. Guest speaker voice content should be normalized and equalized to match the quality of the host, whose voice is easy to hear and to understand throughout the entire podcast series.

    Apple Podcasts
    4
    Rx192A1
    United States2 years ago
  • Informative, interesting, and great guests

    Jon has a deep and varied knowledge of economics which allows him to draw out interesting thoughts from his well curated line up of top-tier guests.

    Apple Podcasts
    5
    dingomeetsbaby
    United States3 years ago
  • Excellent Podcast

    A highly informative podcast for anyone interested not just in economics but politics, IR, law, or just about anything. Jon is a wonderful host and has a talent for making an increasingly complex economic environment extremely easy to follow. Count me in as a regular listener!

    Apple Podcasts
    5
    AnanmayAgarwal
    United States4 years ago

Listeners Say

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

Content is informative for audiences beyond economics, including politics and law
Listeners praise the host's broad knowledge of economics and the caliber of guests
Sound quality and host balance are common feedback points across episodes

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Talking Points

Recent interactions between the hosts and their guests.

Reducing the Fed’s Balance Sheet With Fed Board Governor Stephen Miran | Hoover Institution
Q: How do AI and deregulation factor into your view of the neutral rate, and what implications does that have for policy going forward?
AI and deregulation act as positive supply shocks that raise productivity and the return on capital, pushing the neutral rate higher. This means monetary policy might tolerate a higher neutral rate for longer, influencing how aggressively future policy should respond to inflation and unemployment.
Reducing the Fed’s Balance Sheet With Fed Board Governor Stephen Miran | Hoover Institution
Q: What are the key risks on the asset side if the Fed were to unwind its holdings too quickly, and how can policy avoid a taper tantrum-like reaction?
The main risk is a spike in long-term rates due to large, rapid asset sales. To avoid this, the approach should be gradual, with a slow pace of reduction and careful sequencing of asset sales, plus ensuring that regulatory and market structures reduce frictions so that markets can absorb securities coming off the balance sheet.
Reducing the Fed’s Balance Sheet With Fed Board Governor Stephen Miran | Hoover Institution
Q: In your paper, you've outlined a number of items on the liability side of the balance sheet that could minimize distortions around shrinking the balance sheet. What are some of those options, and how do they help?
The options largely focus on reducing reserve demand to enable a smaller balance sheet without triggering market instability. This includes improving the functioning of repo markets, central clearing of Treasury repo to reduce regulatory charges, and addressing the GSIB surcharge distortions that make Treasuries costlier to hold. Together, these reforms would lower the effective cost and frictions of shrinking the balance sheet while preserving ample liquidity.
The Origins of Inflation Targeting in New Zealand with Don Brash | Hoover Institution
Q: What were you paying attention to in your governorship to ensure inflation expectations were being anchored?
We were focused on actual inflation outcomes as they conditioned expectations significantly.
The Origins of Inflation Targeting in New Zealand with Don Brash | Hoover Institution
Q: What were those conversations like with other central bankers?
Brash recalls that during his time, the focus was primarily on getting inflation under control rather than debating inflation targets.

Audience Metrics

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Frequently Asked Questions About This Podcast

What is This Podcast about and what kind of topics does it cover?

A rigorous economics- and policy-focused interview program that often pairs a knowledgeable moderator with leading economists, policymakers, and financial industry figures. Episodes explore macro policy, monetary and fiscal dynamics, financial regulation, and the historical context of capitalism, with guests ranging from former public officials to central bankers and top academics. Noteworthy is the show's inclination toward balance between historical perspective and contemporary policy debates, along with a recurring emphasis on market incentives, deregulation, and growth. Potential listeners who want accessible yet substantial discussions on economics, public policy, and the intersection of finance and governance will likely find this eng... more

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1. Macro Musings with David Beckworth
2. Capitalisn't
3. EconTalk
4. Conversations with Tyler
5. GoodFellows: Conversations on Economics, History & Geopolitics

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this podcast launched 5 years ago and published 75 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 this podcast?

Recent guests on this podcast include:

1. Phil Gramm
2. Niall Ferguson
3. Steve Miran
4. Charlie Calomiris
5. Jim Esposito
6. Tevi Troy
7. Luis Garicano
8. Matteo Maggiori

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