Episodes

4d ago

Scott Galloway is no conservative, and I am not sure he would like me nearly as much as I like him. But despite his professed atheism and center-left political leanings, a certain common grace has enabled Galloway to become a counter-voice in today’s responsibility-averse culture. His new book, Notes on Being a Man, offer a few truisms that are desperately needed, desperately lacking, and profound for their counter-cultural tenor. In today’s Capital Record , we will look at how this message may be the lowest hanging fruit for a free and virtuous society in this current societal moment. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

6d ago

If tariffs are “making us rich,” and if tariffs are “beautiful,” and if tariffs are “finally making things fair again,” and if tariffs are everything the administration has told us they are, why have there been exemptions, exclusions, and carveouts on $1.7 trillion of imports so far? Don’t get me wrong -- I would favor excluding tariffs on 100 percent of imports. But the question we address on Capital Record today is why we have exempted so many special parties and particular products if tariffs are such a force of good? As you will see, the question answers itself. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Dec 9

President Trump announced on Monday that he was signing an executive order to have ONE RULE (his words, not mine) when it comes to artificial intelligence, seeking to suppress the Tenth Amendment rights of states to have their own regulatory framework around, well, every single other industry on the planet. Over the weekend the president said he was concerned about the Netflix purchase of Warner Brothers because “that might give them too big of a market share.” These feigned antitrust/monopolistic concerns and blatant disregard for states' rights in favor of a behemoth federal government control are longstanding beliefs and practices of the New Deal, big government left. They have been anathema to the right for time eternal. These are deeply concerning shifts in both action and philosophy that must be fervently resisted by those who still revere the Constitution and cherish the very concept of economic liberty. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Dec 4

A little debate broke out on social media when a left-wing progressive mocked the idea that “absolute” standards of living are more important than “relative” ones. To some, what people aspire to is merely “to have a better life than the people around them,” and not “to have a better life.” What is the truth here? And does it matter? If people really are merely concerned with “upping” their neighbors, couldn’t we do that pretty easily without driving burdensome things like “progress”? On today’s Capital Record , David takes on the reality of human nature and the fundamental aim of economics. Ultimately, we find ourselves back to the Tenth Commandment to resolve one tension, and to the Garden of Eden to resolve another! Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Dec 2

The Nobel Prize for economics has gone to some serious winners over the years -- Hayek, Friedman, and Mundell come to mind. But the Nobel committee has shamed itself over the years as well (looking at you, Krugman), and more recently seemed to indicate a bias toward so-called economic justice than actual economic productivity and prosperity. That is why this year’s winners are an encouragement to those of us who see growth as a moral good, and a rising standard of living for all as dependent on progress, innovation, and growth. It is good for the field of economics when good work is rewarded that explains how the world works, and why. It is far better than rewarding econometrics that explain neither. Show Notes: WSJ article by David Henderson Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Nov 25

We all know President Trump is counting the days until Jerome Powell’s term as Fed chair ends. He may be rooting for the right thing for the wrong reason, but it is not debatable that this is where things are headed. In today’s Capital Record , David looks at the various candidates for Fed chair and makes the case for the obvious pick (of the major pool of candidates that exists). Let’s send this episode to President Trump if we have to! Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Nov 18

Now that New York has elected a self-avowed socialist as its mayor, many are concerned with how to combat his dangerous ideas and policies. In this episode of Capital Record , David offers the wild suggestion that one way to defeat Mamdani’s ideas is to not replicate them ourselves ! From class warfare to price controls to government ownership of production, Mamdani does not have a monopoly on bad ideas in 2025. For conservatives to win this debate, they need to be debating on the right team. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Nov 13

The ‘Greedflation’ line is back, only it isn’t coming from Bernie Sanders, Elizabeth Warren, or Joe Biden. With beef prices up nearly +13 percent over the last year, many are wondering why, and many are providing answers that don’t pass the smell test. Fortunately for those of us on the Capital Record , first principles go a long way toward helping us sort this out. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Nov 11

David devotes this week’s Capital Record to the folly of the “game-changing” idea of a 50-year mortgage. He stands within first principles by allowing risk takers to freely transact, but points out the economic reality of how people who believe they get a cheaper house by paying for it over an extra 20 years are, well, wrong. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Nov 4

The “conservative” world lives in interesting times, navigating on one hand the challenges of being a movement based on ideas and then on the other hand the personalities and frustrations that have recently entered the fray, often at odds with the movement and ideas they claim to have joined. We have spent ample time in this podcast defending the conservative ethos against those who would undermine its core orthodoxies either for coalitional benefits at the ballot box or for “street cred” in the desire to be popular, no matter where it leads ideologically. But what if the issue at hand is not merely where to draw the line on government intervention in the marketplace, but what to do with full-blown lunatics like Nick Fuentes? Is antisemitism, conspiratorialism, racism, and broad kookiness part of the membership package in today’s conservative world? In today’s podcast, David explains why the challenges of gatekeeping for economic cogency are less different than people may think when it comes to gatekeeping full-blown extremism. And the stakes are equally high for those who prize the American and conservative ideal. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Oct 28

The NBA world was rocked last week as a current head coach and two players were arrested in a major FBI investigation. The entire matter has led to great consternation over the world of sports betting and the explosive growth of how this is marketed and normalized in society. David does what this podcast exists for him to do: apply first principles to the discussion of sports betting -- its pitfalls and boundaries -- for those who value free markets but also the virtue and character we want for our society. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Oct 23

The pro-work message has found a resurgence, but it has hardly won the war. It is not merely up against pop psychologists and a wide array of confused thought leaders, but the allure of algorithmic screen addictions and other acts of sloth that are hurting society in more ways than one. On today’s episode of Capital Record , David argues that bemoaning the influence of social media and video games is not enough -- that we must know what is at stake, and what our counterplan is to restore a healthy society. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Oct 21

David is inspired today by a recent WSJ op-ed from the widow of Apple founder, Steve Jobs, arguing that too many philanthropists are using their donations for control rather than impact. David takes the position that too many philanthropists are driven by vanity, too many charities are driven by grift, and not enough philanthropists are wisely maintaining their leverage -- not for control, but for intended impact. A nuanced Capital Record with a message a lot of people will not like. Show notes: Beware of Philanthropists Who Want Control in Exchange for Their Giving Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Oct 14

It feels that New Right Republicans are sometimes trying to out-socialist Bernie Sanders, and in bemoaning the extraordinary results of Amazon in building opportunity for pay and wealth for its workforce and pitting that against the executive C-suite in standard class warfare lunacy, we have teed up all that is wrong with wage controls, price controls, and the class envy that does so much damage to the cause of a free and prosperously employed society. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Oct 9

Sanae Takaichi is not just set to be the first female prime minister of Japan -- and someone whose childhood hero was the legendary Margaret Thatcher. She also launched her global claim to fame by saying she “wanted to abandon the idea of work-life balance” and planned to “have everyone work like a workhorse.” Well, this has generated some push back from people who are apparently happy with Japan’s 0 percent real GDP growth for over 30 years. In today’s episode, David analyzes why Takaichi is starting off as his favorite leader on the planet. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Oct 2

As New York City prepares to elect Mamdani as mayor and young people across college campuses tout the miseries of “capitalism,” is the financial crisis of 2008 to blame for a paradigm shift in public sentiment? In this episode, David unpacks the truth of the narrative that everything changed that year. Show notes: The Rise of America’s Young Socialists—From the 2008 Financial Crisis to Mamdani Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.