On the latest episode of Econception, my podcast with the American Institute for Economic Research, I decided to go through some popular economic fallacies. For that, I turned to a reliable source of unreliable information: Bernie Sanders’s tweets. I spend the first half of the show going through some of his latest talking points and thinking through why they’re wrong or incomplete. This might end up becoming a recurring segment on Econception.
Then I look to one of the Vermont senator’s favorite countries, Cuba, and talk about its communist government cutting citizens’ bread rations. Cuba is one of the only places on earth that rations food in ordinary times, and it has to do so because communists can’t repeal the laws of economics.
Next I talk about what’s holding Africa back in economic development. I consider the thesis offered by Senegalese entrepreneur Magatte Wade: Africa is poor because of overregulation. After you listen, you can read my interview with Wade here.
The Paper of the Episode is “What Economists Do” by Robert Lucas. It’s one of my all-time favorites. I referenced it in my tribute to Lucas after his death last year.
Please listen and subscribe to Econception (available on a variety of platforms) by clicking here.