Okay, Let Me Tell You Why You're Wrong: A Podcast for Understanding Economics

By Dave Yost

What's Okay, Let Me Tell You Why You're Wrong: A Podcast for Understanding Economics about?

This is a podcast for Understanding Economics. I, and a guest with a background in economics sift through the issues being discussed and present them as Economists would, without all the hype and hyperbole.

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Okay, Let Me Tell You Why You're Wrong: A Podcast for Understanding Economics episodes:

03.29.2020
Episode 44 - Price Gouging
WE. ARE. BACK. After a very long hiatus I am back and making podcasts again. Don't worry folks nothing bad happened. It was more like being an adult got in the way for a while. Anyway, I chose...
08.10.2018
Episode 43 - Comparative Advantage
This week we're talking about Comparative Advantage and asking the question "why should we engage in trade." I cover both the concept as well as its originator, David Ricardo, who you will discover is in fact "The Most Interesting...
07.31.2018
Episode 42 - The Wealth of Nations 1.11.2 - Rent of Land part 2
This week we're back with part two of chapter eleven of book 1 of Adam Smith's The Wealth of Nations, and this one is massive. We're covering what is known as the Digression on Silver, and wondering if you...
07.02.2018
Episode 41 - Creative Destruction
We're cranking it to 11 and talking about that most metal of all economists, Joseph Schumpeter and his idea of Creative Destruction. I cover the intellectual underpinnings of it, the idea itself, and several examples of it throughout history....
06.20.2018
Episode 40 - The Wealth of Nations 1.11.1 - Rent of Land part 1
This week we're covering part 1 of Adam Smith's The Wealth of Nation Book 1 Chapter 11: Of the Rent of Land, where we discover exactly why the rent is too damn high, and it has more to do with...
06.11.2018
Episode 39 - The Economics of Star Trek
I sit down with Gus Shepard to talk about the possible future of the economy in terms of how realistic the scenarios laid out in the various iterations of Star Trek might be. We cover an economy without currency...
06.06.2018
Episode 38 - The Wealth of Nations 1.10.2 - Inequalities of Wages and Profits part 2
We're back to close out Chapter 10 of Book 1 of Adam Smith's The Wealth of Nations. We cover the inequalities in wages and profits that are occasioned by the policies of Europe. If you want to tell me why...
06.02.2018
Episode 37 - Objectivism
I take this episode to talk about a topic which is always irritating to me, that of Objectivism. Specifically, Objectivism when it's applied to economics. It's safe to say, I'm not a fan of Ayn Rand. If you want...
05.29.2018
Episode 36 - The Wealth of Nations 1.10.1 - Inequalities of Wages and Profits part 1
We're back with another riveting chapter from Adam Smith's The Wealth of Nations, or at least half of a chapter, as this one is really long. In this episode we cover the causes of inequalities in wages and profits...
05.21.2018
Episode 35 - The Gold Standard
This week take on the idea of the Gold Standard and get into the trade offs involved with pegging a currency to any kind of commodity. If you want to tell me why I'm wrong, come on out and...
05.14.2018
Episode 34 - The Wealth of Nations 1.9 - Profits of Stock
We're back with The Wealth of Nations Book 1 Chapter 9: Of the Profits of Stock, where we learn what Adam Smith has to say about how profit is derived and how profit ties in with interest and wages.
04.27.2018
Episode 33 - Market Power
I sit down with Nicholas Franczyk from the Chicago office of the Federal Trade Commission to talk about market power and how the FTC determines and defines it. We discuss the nature of market power and how it can...
04.23.2018
Episode 32 - The Wealth of Nations 1.8 - Wages of Labor
We're back to Adam Smith with The Wealth of Nations Book 1 Chapter 8: Of the Wages of Labor. We go through Adam Smith's thoughts on how wages are determined, as well as the importance of wages on the...
04.13.2018
Episode 31 - The Economics of Immigration
I sit down once again with David Wicik to talk about the economic issues and arguments that surround the debate over immigration. If you want to weigh in and tell me why I'm wrong, come join us on the...
04.06.2018
Episode 30 - The Wealth of Nations 1.7 - Natural and Market Price
We keep right on moving through Adam Smith's The Wealth of Nations with Book 1 Chapter 7: Of the Natural and Market Price of Commodities. In this chapter supply finally meets demand, prices fluctuate, and I can't understand what...
03.30.2018
Episode 29 - Some Thoughts on the Minimum Wage
I pick apart both sides of the debate over minimum wage and try to offer some food for thought on the issue. This is one of those cases where very often, both sides are wrong, or at least not...
03.23.2018
Episode 28 - The Wealth of Nations 1.6 - Component Parts of Price
We're celebrating our one year anniversary by covering Adam Smith's The Wealth of Nations Book 1 Chapter 6: Of the Component Parts of the Price of Commodities. We examine Smith's analysis of the factors that go into determining the...
03.16.2018
Episode 27 - Trade Wars
This week I tackle the economics of an issue that is in the news and in the minds of most people right now; trade wars. If you're looking for a political rant either in favor or against trade wars,...
03.09.2018
Episode 26 - The Wealth of Nations 1.5 - Real and Nominal Price
We're back with Book 1 Chapter 5 of Adam Smith's The Wealth of Nations. This week we're talking about Real Price and Nominal Price as Adam Smith describes them as well as what Smith feels is the constant measure...
03.02.2018
Episode 25 - Monopoly
On this week's topic episode, I delve into the topic of monopoly. I talk about exactly what a monopoly is, what it looks like, natural monopolies, ways that a monopoly may not be truly dire, and tips for winning...
02.23.2018
Episode 24 - The Wealth of Nations 1.4 - Origin and Use of Money
We just keep plugging along with Adam Smith's The Wealth of Nations this week where we are starting to get into more exciting (your concept of excitement may vary) territory with Book 1 Chapter 4: Of the Origins and Use...
02.16.2018
Episode 23 - Moral Hazard
This week we take a look at the concept of moral hazard and the role that it plays in a wide range of aspects in all of our lives; from the financial crises of the last ten years, to the...
02.09.2018
Episode 22 - The Wealth of Nations 1.3 - Limit of Division of Labor
We're back with another chapter of The Wealth of Nations! This week we tackle Chapter 1 Book 3: That the Division of Labor is Limited by the Extent of the Market. I delve into Smith's description of population...
02.02.2018
Episode 21 - Bitcoin
I sit down with Brendan Newell to talk about Bitcoin We cover a pretty lengthy explanation of what Bitcoin actually is, as well as go into what the future holds for it and other crypto-currencies. If you want to join...
01.26.2018
Episode 20 - The Wealth of Nations 1.2 - Origin of Division of Labor
We're back with Book 1 Chapter 2 of The Wealth of Nations by Adam Smith. In this episode we continue to talk about the division of labor, as well as get into the Enlightenment Era influences of Adam Smith....
01.19.2018
Episode 19 - The Future of Home Entertainment
I do some pretty heavy speculating on what the future of home entertainment will look like based on some of the economic trends that we are seeing right now. What's to be made of the trend of IP holders...
01.12.2018
Episode 18 - The Wealth of Nations 1.1 - Division of Labor
I start of my new episode series by cracking open the thoroughly brilliant and massively overwritten The Wealth of Nations by Adam Smith. In this episode, we cover Book I Chapter I and talk about the Division of Labor,...
01.05.2018
Episode 17 - Gift Giving
With the holidays completed, I thought it would be a pretty good opportunity to talk about the economics of gift giving. You may not think that something as simple as exchanging presents would rise to the level of economic...
12.11.2017
Episode 16 - Black Friday
I do a bit of a deep dive on some of the economic issues surrounding Black Friday including why some people choose to not chase discounts during the event and what effect online retail is having on in-store sales over...
11.28.2017
Episode 15 - Excise Taxes
I talk about excise taxes and their effects as it relates to the recent debate over the Cook County sugar tax.
10.20.2017
Episode 14 - Inflation
This week we sit down with Paul LaPorte again from the Chicago office of the Bureau of Labor Statistics to talk about another key economic statistic generated from the BLS, inflation. Paul helps to break down how exactly inflation...
09.07.2017
Episode 13 - Economic Growth part 1
I'm joined by returning Okay, Let Me Tell You Why You're Wrong all-star Josep Nadal to talk about Economic Growth and how we calculate and understand that particular statistic. Joesp breaks down the history of thinking on growth in...
08.11.2017
Episode 12 - Unemployment
This episode I am joined by Paul LePorte from the Chicago office of the Bureau of Labor Statistics for a detailed discussion of the Unemployment Rate and how to best understand and apply that statistic to your understanding of the...
07.28.2017
Episode 11 - Econ Rant on Millennial Consumers
I revisit some old ground in some new ways thanks to a link sent to me by a listener. I give my thoughts on the trend of blaming any and all of our economic problems on "the kids these...
07.14.2017
Episode 10 - Econ Rant on Memes and the Future of Retail
In this episode I use a meme that I recently came across to launch into a rant about my thoughts on labor strategy and the future of brick-and-mortar retail in a market increasingly dominated by online competitors.
06.29.2017
Episode 9 - Fed Policy
The podcast ups its game as I sit down with Professor Tim Opeila to discuss the various policies enacted by the Federal Reserve. Take heart dear listener, this is no mere recap of our previous Fed episode, but rather...
06.15.2017
Episode 8 - Minimum Basic Income
I talk with Ben Henke about the pros and cons of implementing a Minimum Basic Income. This topic is a little different because I don't actually have a strong opinion on the idea of an MBI, and (spoiler alert)...
06.06.2017
Episode 7 - Econ Rant on Consumer Demand
For this episode I depart from our regular format in order to go on a slight rant about consumer demand as it relates to an article I read recently in the Business Insider. The article is titled "Millennials are...
05.18.2017
Episode 6 - The Euro Zone Crisis part 2
We're back for part 2 of our discussion of the Euro Zone Crisis. Continuing off of our last episode Josep Nadal walks us through the events that laid the groundwork for the issues that the Euro Zone has and...
05.04.2017
Episode 5 - The Euro Zone Crisis part 1
I sit down with Josep Nadal to talk about the Eurozone Crisis, what led to it, what its effects on the global economy are, and what we might expect to see as a result of it in the future...so generally...
04.20.2017
Episode 4 - The Gender Gap
I sit down with Daisya Harden to discuss the not-at-all controversial subject of the wage gap between the genders, however this show being what it is, we side-step the controversy and get right into what the underlying economics has to...
04.06.2017
Episode 3 - The Federal Reserve
I sit down with Mari Stachura to discuss the Federal Reserve, what it does, and the misconceptions surrounding it.
03.23.2017
Episode 2 - The Economics of College Education
For our first full episode, I sit down with David Wicik to talk about the Economics of college education; comparing the opportunity cost of going to college with the potential benefits of having a diploma.
03.23.2017
Episode 1
For our inaugural episode, I talk you ear off for 30 minutes about what you can expect from the much more interesting episodes to follow.

What's Okay, Let Me Tell You Why You're Wrong: A Podcast for Understanding Economics about?

Download our free app to listen on your phone

Okay, Let Me Tell You Why You're Wrong: A Podcast for Understanding Economics episodes:

Episode 44 - Price Gouging

Episode 43 - Comparative Advantage

Episode 42 - The Wealth of Nations 1.11.2 - Rent of Land part 2

Episode 41 - Creative Destruction

Episode 40 - The Wealth of Nations 1.11.1 - Rent of Land part 1

Episode 39 - The Economics of Star Trek

Episode 38 - The Wealth of Nations 1.10.2 - Inequalities of Wages and Profits part 2

Episode 37 - Objectivism

Episode 36 - The Wealth of Nations 1.10.1 - Inequalities of Wages and Profits part 1

Episode 35 - The Gold Standard

Episode 34 - The Wealth of Nations 1.9 - Profits of Stock

Episode 33 - Market Power

Episode 32 - The Wealth of Nations 1.8 - Wages of Labor

Episode 31 - The Economics of Immigration

Episode 30 - The Wealth of Nations 1.7 - Natural and Market Price

Episode 29 - Some Thoughts on the Minimum Wage

Episode 28 - The Wealth of Nations 1.6 - Component Parts of Price

Episode 27 - Trade Wars

Episode 26 - The Wealth of Nations 1.5 - Real and Nominal Price

Episode 25 - Monopoly

Episode 24 - The Wealth of Nations 1.4 - Origin and Use of Money

Episode 23 - Moral Hazard

Episode 22 - The Wealth of Nations 1.3 - Limit of Division of Labor

Episode 21 - Bitcoin

Episode 20 - The Wealth of Nations 1.2 - Origin of Division of Labor

Episode 19 - The Future of Home Entertainment

Episode 18 - The Wealth of Nations 1.1 - Division of Labor

Episode 17 - Gift Giving

Episode 16 - Black Friday

Episode 15 - Excise Taxes

Episode 14 - Inflation

Episode 13 - Economic Growth part 1

Episode 12 - Unemployment

Episode 11 - Econ Rant on Millennial Consumers

Episode 10 - Econ Rant on Memes and the Future of Retail

Episode 9 - Fed Policy

Episode 8 - Minimum Basic Income

Episode 7 - Econ Rant on Consumer Demand

Episode 6 - The Euro Zone Crisis part 2

Episode 5 - The Euro Zone Crisis part 1

Episode 4 - The Gender Gap

Episode 3 - The Federal Reserve

Episode 2 - The Economics of College Education

Episode 1