Happy Hour Econ

“The rent is too darn high.” We hear a lot about a “housing affordability crisis” in the U.S. And to be fair, in some places around the country, particularly certain urban areas, the cost to rent or buy a place to live is very steep. But not everywhere. So what’s really going on here? Is it a supply-and-demand issue? Landlords and sellers just being greedy? NIMBYs run amok? Well, it’s complicated. But Lou and Phil are on the case.

Look, we all need to eat. Where there are people, there is a built-in demand for sustenance. Therefore, the existence of “food deserts” is obviously the result of late-stage capitalism deliberately keeping nutrition away from certain groups of people. Right? Well, no. In this week’s Happy Hour Econ, Lou and Phil are cooking up a spicy look at what’s behind how we feed ourselves.

With the successful execution of Artemis II, manned space exploration is back on the scene. But sending humans to the moon raises a whole host of questions. Why are we doing this? Why did we ever do this? Should we be spending money on it? Who owns the moon, anyway? And what does any of it have to do with Spaghetti Westerns? Join your favorite space-cases, Lou and Phil, as they boldly go where no comedian and economist has gone before. Conversationally, anyway.

It’s 4/20, and you know what that means! Love it, hate it, or fall somewhere in the middle, the simple fact is that marijuana—or cannabis, or weed, or even the Devil’s Lettuce—is having a very real moment. But how did we go from Reefer Madness-levels of social stigma to sleek, sophisticated dispensaries that will deliver directly to your door? Join Lou and Phil for this blazing episode of Happy Hour Econ as they get into the weeds of, well, weed.

If you tried to describe Las Vegas, Nevada, to someone who’d never heard of it, the city would seem like a fever dream lifted straight out of a completely unhinged novel. In the middle of a desolate desert landscape, a glittering oasis rises as though from nowhere, filled with every form of entertainment and vice you could hope for, all cleverly designed to keep you there for as long as possible. And yet, it’s real.

You can visit it! But, like, how? Lou and Phil are headed to Vegas in this episode of Happy Hour Econ to pull back the curtain on the economics of Sin City.

What happens when bold predictions of global catastrophe meet…reality? In this episode of Happy Hour Econ, a comedian and an economist take a hilarious yet insightful deep dive into The Population Bomb and the legacy of Paul Ehrlich’s infamous overpopulation predictions.

Lou and Phil dive into why humanity stubbornly refused to starve (thanks, innovation!), how government policies sometimes make things worse (oops), and why betting against human ingenuity might be the worst long-term investment strategy ever.

Why are gas prices so high—and why does it feel like they never come back down? In this episode of Happy Hour Econ, comedian Lou Perez and economist Phil Magness break down the real reasons behind rising gas prices, from global oil supply shocks to foreign policy chaos and everything in between.

With humor and sharp economic insight, they explore how events like conflict in the Middle East, disruptions in the Strait of Hormuz, and instability in oil-producing countries like Venezuela can send shockwaves straight to your local gas pump. You’ll also learn why gas prices vary by region, how taxes and regulations impact what you pay, and why the U.S. can’t just “become energy independent” overnight.

This week on Happy Hour Econ, the brackets are busted, the probabilities are brutal, and your leftover lasagna might actually have better odds than your Final Four picks.

Why is it nearly impossible to pick a perfect March Madness bracket? How does the NCAA make billions—and who actually gets paid? And what do your fridge leftovers have to do with economic theory?

In this episode of Happy Hour Econ, comedian Lou Perez and economist Phil Magness break down the madness behind March Madness. From busted brackets and the brutal math of probability to the concept of mutually exclusive decisions, they explain why your championship pick was doomed from the start.

In this episode of Happy Hour Econ, comedian Lou Perez and economist Phil Magness walk into a bar… and accidentally start a 25-minute debate about socialism. Oops.

With the Democratic Socialists of America hitting 100,000 members and socialism suddenly trending with younger generations, Lou asks the obvious question: Why?

The conversation also touches on socialism vs capitalism, the role of markets in allocating resources, and how political decision-making could affect everyday life—yes, even something as simple as buying a PlayStation 5. From historical lessons about shortages and central planning to the debate over whether socialism promises equality or delivers inefficiency, Lou and Phil break it all down with humor and insight.

Why do Americans not choo-choo-choose trains?

In this episode of Happy Hour Econ, comedian Lou Perez and economist Phil Magness climb aboard the great American train debate and ask a simple question: Why does everyone on the internet suddenly want bullet trains?

From Lou’s beer-blurred European train adventures to Phil’s deep dive into railroad history, they explore why train travel works in Europe and Japan but struggles in America. Along the way they unpack the real economic factors behind transportation policy, including population density, infrastructure costs, government incentives, and regulatory hurdles.