Capital Record

If it were the greatest economy the world has ever seen, wouldn’t the election results have been different? And if things were as bad as so many say, wouldn’t some data say so? Is it possible that there is a lesson in the election for both the free and virtuous society? Find out on today’s Capital Record. 

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In recent weeks, I have heard surprising criticism of the idea of people selling their homes without listing it (so-called “private listings”) and of the MLS system that so many in the residential real estate world rely on. Naturally, I had no idea these were problematic, but when a professional in an industry asks the government to regulate something happening in that industry, I usually suspect some good old-fashioned crony rent-seeking is going on. It turns out, I wasn’t wrong.

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A recent op-ed in the New York Times by a Cambridge University business professor argues that it is time to get rid of business schools. His arguments do not center around the need to root business education to first principles or moral philosophy or a cogent sense of wealth creation; rather, they center around a contempt for profits and a basic inability to appreciate the social good of producing goods and services that enhance our quality of life. Where have we seen this mistake before? Find out on today’s Capital Record. 

Show Notes: 

• NY Times op-ed, "I Teach at a Business School. It's Time to Shut Them Down."

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The images that came out of France over the weekend created a real test of how one views the world—whether the violent riots and looting are the by-product of economic desperation and hopelessness, or the by-product of a crisis of responsibility run amok. In the rather revelatory moment of chaos and barbarism, one worldview is exposed for the reductio ad absurdum it is, and the opportunity presents itself to offer the vision for a free and virtuous society, even to a country like France.

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Whether it is woke-right groypers or “conservative” media pundits like Steve Deace who are supposed to know better, a movement is afoot to say that Gen-Z white men have been dealt a bad hand—and a spirit of victimhood is the way to reckon with it. But a free and virtuous society is not built by asking a politician to keep you off porn, and it is not built by blaming others for your problems. This episode of Capital Record is ground zero for how we think about society, and how we think of our own peace, joy, and opportunity within it.

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Today’s short Capital Record is a simple refresher on the difference between capital formation and capital allocation, and why entrepreneurs bemoaning the challenges of having capital allocated to them get it all wrong.

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Those who hate the financial sector and demonize the activity of capital markets will never understand that beneath it all is the story of the human spirit. Dealing with the aspirations embedded in financial markets has to be avoided, because it gets in the way of their narrative of grievance and victimhood. On today’s Capital Record, David has a highly personal story to tell that gets to the essence of all of this.

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The United States federal government currently has an aggressive agenda, and it has now added to its portfolio… training workers in technology, energy, and defense. Several universities are creating the materials, and the government is organizing the national training program known as the Foundry School. Is this the retraining and investment in work-and-business dynamism we have been waiting for, or is it another government overreach where inexperienced bureaucrats are way out of their lane, feeling good about saying the right things? A balanced and nuanced discussion in today’s Capital Record.

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We are living in a period when the greatest political opportunity I have ever seen for either party is being squandered. For the Democrats, it is understandable. For the Republicans, it is unforgivable. In today’s Capital Record, David looks at this current moment, where true conservatives have a chance to present an actual contrast – a choice – to the left-wing socialist nonsense of our day. 

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One of the craziest things that has worked its way into the folklore of our age is that the new-found appreciation for a heavy role of government in our personal and economic lives is replacing what was previously this broad moment of “libertarianism,” wherein society ran off of a very limited role of government in matters of economic regulation. Not only did I miss the memo on when that period was to have taken place, but today, some of yesterday’s loudest proponents of a small government are actually screaming for the government to tell you what you can eat. My, how the tea party has fallen. Come tread on me, in today’s Capital Record.

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