Lots of chatter lately about supply chain problems, so the Institute for Policy Innovation is proud to host Research Fellow Prof. Daniel Ogden, (among other things) Adjunct Instructor of International Business at Baylor University, to explain the basics. In conversation with IPI President Tom Giovanetti and Resident Scholar Dr. Merrill Matthews.

In this episode, IPI President Tom Giovanetti and Resident Scholar Dr. Merrill Matthews discuss the various definitions of recession, what causes recessions, what's the harm of recession, and are there any possible silver linings to a recession? Are recessions always unintentional, or are they sometimes intentional?

Solo this time, IPI President Tom Giovanetti explains that the very idea of self-government means rules agreed to through compromise and consensus-building, rather than being imposed on an unwilling people. If there is no consensus, there should be no rule. And because rules imposed by the Judicial Branch or the Executive Branch violate this principle, the Legislative Branch is the superior branch of government, as intended by the Founders. But sadly, today this is not how things function, and it's part of the reason for the dysfunction and dissatisfaction with our American government.

One thing the Obama administration got right was shifting NASA's space program toward reliance on private space launch providers, which has led to an environment of much more rapid innovation, lower costs to taxpayers, and the emergence of multiple competing providers. IPI President Tom Giovanetti and Resident Scholar Dr. Merrill Matthews discuss how the private space revolution is yet another example of how the private sector does things better, faster, and cheaper.

IPI Senior Research Fellow Bartlett Cleland guides a discussion with IPI President Tom Giovanetti about the importance of permissionless innovation, and the problems with its opposite--the precautionary principle.

IPI President Tom Giovanetti and Resident Scholar Dr. Merrill Matthews explain why inflation can result in taxes paid on false gains because capital gains tax rates and other taxes on assets are not indexed for inflation, and that income tax brackets in many states are also not indexed for inflation.

When a politician talks about "cutting taxes," what does she mean? Usually, she means reducing marginal tax rates, but what are those? And what's the difference between marginal tax rates, effective tax rates, average tax rates, and tax revenue? Does raising marginal tax rates automatically raise tax revenues? IPI President Tom Giovanetti explains, with the able assistance of Resident Scholar Dr. Merrill Matthews.

To what degree does the Federal Reserve control interest rates on home mortgages, credit cards and bank savings accounts? Why does the Federal Reserve raise or lower rates? And what rate does the Federal Reserve actually control? The basics of Federal Reserve action with IPI President Tom Giovanetti and Resident Scholar Dr. Merrill Matthews.

No, not fashion modelling or Instagram modelling, though we're sure there are perils and pitfalls there, too. This episode is about using mathematical models and computers to try to predict outcomes. Riffing off of IPI's experience and knowledge of economic modelling, IPI President Tom Giovanetti and Resident Scholar Dr. Merrill Matthews draw some conclusions about climate change modelling as well. Hint: Models are just not very accurate.

When you hear a president say "If Congress Won't Act, I will," red flags should go off in your head. That's because when Congress does not legislate, that is Congress CHOOSING to not legislate. Congress choosing to do nothing is just as important, if not more important, than Congress choosing to do something. Or so it seems to IPI President Tom Giovanetti and Resident Scholar Dr. Merrill Matthews.