Vice President JD Vance stated last week in a now infamous interview that the right needs less Milton Friedman and an economic approach more like Alexander Hamilton's. One can hope the VP simply doesn’t understand Milton Friedman, but more than likely this “new right” mentality is trying to draw a line against the laissez faire to the economy favored by Friedman. But when various 21st century voices claim Alexander Hamilton as one of their own in seeking larger government control over the economy, do they actually understand Hamilton correctly? In this Capital Record episode, David is happy to defend Milton Friedman, but also happy to defend Alexander Hamilton, too -- against a revisionism that not only gets its economics wrong, but its history, too. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A recent article in The Atlantic thoughtfully asked what makes Americans so unhappy. It looked at conflicting economic data (the delta between sentiment and actual economic conditions) and pondered what may be going on to make Americans feel so lousy about the economy. In this episode of Capital Record, David suggests that there are a few different things going on, and they all point to issues near and dear to our hearts.    Show Notes: Atlantic articleThe Secret to a Happy Life (Commencement speech) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

When a who’s who of progressive economists, some Nobel laureates, all academics, take to the pages of the, ummm, Guardian, to say that “growth is doomed” and that “poverty is manufactured,” is it time for policymakers to reverse course and embrace the policy solutions these “experts” present to “change the rules of the global economy”? Or, rather, is this the ideal time for lovers of freedom who believe in human flourishing to double down on the only things the world has ever seen that manufacture prosperity? Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Covid-19 era claims that working in an office was over -- an unnecessary relic rendered obsolete by the realities of Zoom and the cloud -- have spent the last five years being decimated by rediscovery of the facts of human nature. Company after company has backtracked, admitted failure in remote work allowance, and attempted to salvage the damage done to brand, culture, and mentorship by telling people they didn’t need to come to work. But a new study has gone further, and the results should not surprise any of us who understand the human person. They should disturb any of us who claim to care about the wellness of human beings.   Show notes: Science.org study Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

David is joined today by special guest Peter Travers, investor, financier, and long-time trustee at National Review. Their conversation goes from a proper definition of Wall Street to a proper defense of Wall Street to, ultimately, the profound benefits of a market system that coordinates all sorts of different people, actors, capital, and motives in a wide array of human endeavor. It is a pivotal conversation for those wanting to understand not just financial markets, but how human dignity is undermined by the enemies of financial markets. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

With the SpaceX IPO and a paper mark-up of value in Elon Musk’s net worth to $1 trillion, many have bemoaned the “concentration of power” that this kind of wealth represents. In today’s episode, David suggests that some may not seem to understand what “concentration of power” really means, and that if people want to see a “concentration of power,” they should see what their desired plans to stop it do. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Yes, Bernie Sanders, who has always admitted to being a socialist, has called for the government to take equity stakes in American AI companies. And yes, it is a terrible idea. But today on the Capital Record, David does what too few on the right appear willing to do: say why it is a bad idea, and why the right are going to have a very hard time stopping it.               Clip courtesy of Overtime with Bill Maher Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Treasury Secretary, Scott Bessent, gave a memorable speech at the Reagan Foundation Economic Forum last week.  In it, he reiterated the completely true economic principle of permanence – that when policies are properly codified they assure economic actors of the rules of the road, enabling more confident decision-making when it comes to hiring, production, consumption, and investment.     In today’s Capital Record, David flushes out this concept more, acknowledges where the permanence of OBBBA has been a benefit, and asks a rather obvious question about another tax policy that remains, well, not permanent. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Sen. Elizabeth Warren’s recent tirade against private equity is a libelous set of dishonest manure that should be treated as seriously as any attempt to broadly demonize private equity these days, which is not at all.  Whether the Senator’s problem is intellectual or just in telling the truth, she is wrong in so many ways that today’s Capital Record gives us a chance to set the record straight.  You will be better off for hearing it, which is never true when one listens to today’s private equity critics. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We started this podcast over five years ago, committed to a free and virtuous society, and now with 300 episodes under our belt, the commitment is deeper and more robust than ever. In this very special episode, David revisits the genesis of Capital Record, reaffirms the themes that matter, identifies the enemies of human flourishing working to undermine freedom and opportunity, and offers up a manifesto of commitments for the years ahead. Pre-roll:Duke Energy Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.