Jon Hartley and Richard Epstein discuss Richard’s career as a legal scholar, the takings clause, state monopoly power, Richard’s property-driven theory of constitutional interpretation (how it contrasts with the originalism of Antonin Scalia and Robert Bork as well as living constitution theories), the Coase theorem, and classical liberalism versus anarcho-capitalism.

Recorded on July 16, 2025.

ABOUT THE SERIES

Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics.

For more information about the podcast, or subscribe for the next episode, click here.

Hoover Institution fellow Jon Hartley and former FDIC Vice Chair Thomas Hoenig discuss Tom’s career as an economist, as Vice Chair of the FDIC, President of the Kansas City Fed, topics including the global financial crisis, banking regulation, Glass-Steagall, Too Big To Fail, moral hazard, lender of last resort powers, Basel III, the Dodd-Frank Act, capital requirements, deposit insurance after the Silicon Valley Bank regional banking crisis, and quantitative easing.

Recorded on June 10, 2025.

ABOUT THE SERIES:

Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics.

For more information about the podcast, or subscribe for the next episode, click here.

Hoover Institution fellow Jon Hartley and hedge fund investor Kyle Bass discuss Kyle’s career and upbringing, the 2000s housing crisis, the 2010s European sovereign debt crisis, the rise and fall of Japan’s economy, China’s rising aggression and decoupling from the US, shifting tides in the Middle East, the sclerosis of Europe, and why the US remains the best place in the world to continue to invest as an innovation hub.

Recorded on June 13, 2025.

ABOUT THE SERIES:

Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics.

For more information about the podcast, or subscribe for the next episode, click here.

Jon Hartley and Randal Quarles discuss Randy’s career as a lawyer and in policy (including his time as Federal Reserve Vice Chair for Regulation) and topics such as the global financial crisis, Glass-Steagall, banking regulation, lender of last resort, Basel III, the Dodd-Frank Act, capital requirements, the potential relaxation of Treasuries in the Supplementary Leverage Ratio (SLR), deposit insurance after the Silicon Valley Bank regional banking crisis, and stablecoin regulation.

Recorded on May 29, 2025.

ABOUT THE SPEAKERS:

Randal Quarles is the Chairman and co-founder of The Cynosure Group.  Before founding Cynosure, Mr. Quarles was a long-time partner of the Carlyle Group, where he began the firm’s program of investments in the financial services industry during the 2008 financial crisis.

From October 2017 through October 2021, Mr. Quarles was Vice Chairman of the Federal Reserve System, serving as the system’s first Vice Chairman for Supervision, charged specifically with ensuring stability of the financial sector.  He also served as the Chairman of the Financial Stability Board (“FSB”) from December 2018 until December 2021; a global body established after the Great Financial Crisis to coordinate international efforts to enhance financial stability. In both positions, he played a key role in crafting the US and international response to the economic and financial dislocations of COVID-19, successfully preventing widespread global disruption of the financial system.  As FSB Chairman, he was a regular delegate to the finance ministers’ meetings of the G-7 and G20 Groups of nations and to the Summit meetings of the G20.  As Fed Vice Chair, he was a permanent member of the Federal Open Market Committee, the body that sets monetary policy for the United States.

Earlier in his career, Mr. Quarles was Under Secretary of the U.S. Treasury, where he led the Department’s activities in financial sector and capital markets policy, including coordination of the President’s Working Group on Financial Markets.

Before serving as Under Secretary, Mr. Quarles was Assistant Secretary of the Treasury for International Affairs, where he had a key role in responding to several international crises.  Mr. Quarles was also the U.S. Executive Director of the International Monetary Fund, a member of the Air Transportation Stabilization Board, and a board representative for the Pension Benefit Guaranty Corporation. In earlier public service, he was an integral member of the Treasury team in the George H. W. Bush Administration that developed the governmental response to the savings and loan crisis.

Jon Hartley is currently a Policy Fellow at the Hoover Institution, an economics PhD Candidate at Stanford University, a Research Fellow at the UT-Austin Civitas Institute, a Senior Fellow at the Foundation for Research on Equal Opportunity (FREOPP), a Senior Fellow at the Macdonald-Laurier Institute, and an Affiliated Scholar at the Mercatus Center. Jon is also the host of the Capitalism and Freedom in the 21st Century Podcast, an official podcast of the Hoover Institution, a member of the Canadian Group of Economists, and the chair of the Economic Club of Miami.

Jon has previously worked at Goldman Sachs Asset Management as a Fixed Income Portfolio Construction and Risk Management Associate and as a Quantitative Investment Strategies Client Portfolio Management Senior Analyst and in various policy/governmental roles at the World Bank, IMF, Committee on Capital Markets Regulation, U.S. Congress Joint Economic Committee, the Federal Reserve Bank of New York, the Federal Reserve Bank of Chicago, and the Bank of Canada. 

Jon has also been a regular economics contributor for National Review Online, Forbes, and The Huffington Post and has contributed to The Wall Street Journal, The New York Times, USA Today, Globe and Mail, National Post, and Toronto Star, among other outlets. Jon has also appeared on CNBC, Fox Business, Fox News, Bloomberg, and NBC and was named to the 2017 Forbes 30 Under 30 Law & Policy list, the 2017 Wharton 40 Under 40 list, and was previously a World Economic Forum Global Shaper. 

ABOUT THE SERIES:

Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics.

For more information about the podcast, or subscribe for the next episode, click here.

Jon Hartley and Kenneth Rogoff discuss Ken’s career as an academic economist, his time in international economic policy, rising sovereign debt burdens, monetary policy, the legacy of quantitative easing, exchange rate theories, tariffs, and the US dollar's status as the world reserve currency.

Recorded on May 12, 2025.

ABOUT THE SPEAKERS:

Kenneth Rogoff is Thomas D. Cabot Professor at Harvard University. From 2001-2003, Rogoff served as Chief Economist at the International Monetary Fund. His 2009 book with Carmen Reinhart, This Time is Different: Eight Centuries of Financial Folly, has been very widely cited by academics, policymakers, and journalists. One regularity that Reinhart and Rogoff illustrate is the remarkable quantitative similarities across time and countries in the run-up and the aftermath of severe financial crises. In general, they show that for financial crises, the differences between emerging markets and advanced countries are far less pronounced than previously believed. Rogoff is also known for his seminal work on exchange rates and on central bank independence. His treatise, Foundations of International Macroeconomics (joint with Maurice Obstfeld), is the standard graduate text in the field worldwide. His monthly syndicated column on global economic issues is published in over 50 countries. He serves on the Economic Advisory Panel of the New York Federal Reserve. He is a member of the Council on Foreign Relations. Rogoff is an elected member of the National Academy of Sciences, the American Academy of Arts and Sciences, and the Group of Thirty. Rogoff is among the top ten on RePEc’s ranking of economists by scholarly citations. He is also an international grandmaster of chess.

Jon Hartley is currently a Policy Fellow at the Hoover Institution, an economics PhD Candidate at Stanford University, a Research Fellow at the UT-Austin Civitas Institute, a Senior Fellow at the Foundation for Research on Equal Opportunity (FREOPP), a Senior Fellow at the Macdonald-Laurier Institute, and an Affiliated Scholar at the Mercatus Center. Jon is also the host of the Capitalism and Freedom in the 21st Century Podcast, an official podcast of the Hoover Institution, a member of the Canadian Group of Economists, and the chair of the Economic Club of Miami.

Jon has previously worked at Goldman Sachs Asset Management as a Fixed Income Portfolio Construction and Risk Management Associate and as a Quantitative Investment Strategies Client Portfolio Management Senior Analyst and in various policy/governmental roles at the World Bank, IMF, Committee on Capital Markets Regulation, U.S. Congress Joint Economic Committee, the Federal Reserve Bank of New York, the Federal Reserve Bank of Chicago, and the Bank of Canada. 

Jon has also been a regular economics contributor for National Review Online, Forbes, and The Huffington Post and has contributed to The Wall Street Journal, The New York Times, USA Today, Globe and Mail, National Post, and Toronto Star, among other outlets. Jon has also appeared on CNBC, Fox Business, Fox News, Bloomberg, and NBC and was named to the 2017 Forbes 30 Under 30 Law & Policy list, the 2017 Wharton 40 Under 40 list, and was previously a World Economic Forum Global Shaper. 

ABOUT THE SERIES:

Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics.

For more information about the podcast, or subscribe for the next episode, click here.

Jon Hartley and Phillip Swagel discuss Phill’s career as an academic economist, his time in economic policy, why the CBO is important in the budget policy process, current law versus current policy baselines, dynamic scoring versus static scoring, the accuracy of CBO scores, CBO modeling, as well as CBO model transparency.

Recorded on March 18, 2025.

ABOUT THE SPEAKERS:

Phillip Swagel became the 10th Director of the Congressional Budget Office on June 3, 2019. Previously, he was a professor at the University of Maryland’s School of Public Policy and a visiting scholar at the American Enterprise Institute and the Milken Institute. He has also taught at Northwestern University, the University of Chicago’s Booth School of Business, and Georgetown University. His research has involved financial market reform, international trade policy, and China’s role in the global economy. From 2006 to 2009, Dr. Swagel was Assistant Secretary for Economic Policy at the Treasury Department, where he was responsible for analysis of a wide range of economic issues, including policies relating to the financial crisis and the Troubled Asset Relief Program. He has also served as chief of staff and senior economist at the Council of Economic Advisers in the White House and as an economist at the Federal Reserve Board and the International Monetary Fund. He earned his Ph.D. in economics from Harvard University and his A.B. in economics from Princeton University.

Jon Hartley is currently a Policy Fellow at the Hoover Institution, an economics PhD Candidate at Stanford University, a Senior Fellow at the Foundation for Research on Equal Opportunity (FREOPP), a Senior Fellow at the Macdonald-Laurier Institute, and an Affiliated Scholar at the Mercatus Center. Jon also is the host of the Capitalism and Freedom in the 21st Century Podcast, an official podcast of the Hoover Institution, a member of the Canadian Group of Economists, and the chair of the Economic Club of Miami.

Jon has previously worked at Goldman Sachs Asset Management as a Fixed Income Portfolio Construction and Risk Management Associate and as a Quantitative Investment Strategies Client Portfolio Management Senior Analyst and in various policy/governmental roles at the World Bank, IMF, Committee on Capital Markets Regulation, U.S. Congress Joint Economic Committee, the Federal Reserve Bank of New York, the Federal Reserve Bank of Chicago, and the Bank of Canada. 

Jon has also been a regular economics contributor for National Review Online, Forbes and The Huffington Post and has contributed to The Wall Street Journal, The New York Times, USA Today, Globe and Mail, National Post, and Toronto Star among other outlets. Jon has also appeared on CNBC, Fox Business, Fox News, Bloomberg, and NBC and was named to the 2017 Forbes 30 Under 30 Law & Policy list, the 2017 Wharton 40 Under 40 list and was previously a World Economic Forum Global Shaper.

ABOUT THE SERIES:

Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics.

For more information, visit: capitalismandfreedom.substack.com/

Jon Hartley and Robert Barro discuss Robert’s career in economics including his long list of famous students, and research on Ricardian equivalence, fiscal theory of the price level, government spending multipliers, business cycles and the legacy of New Keynesian modeling, economic growth, political economy, the interplay between religion and economics, and much more.

Recorded on March 18, 2025.

ABOUT THE SPEAKERS:

Robert J. Barro is a Paul M. Warburg Professor of Economics at Harvard University, a visiting scholar at the American Enterprise Institute, and a research associate of the National Bureau of Economic Research. He has a Ph.D. in economics from Harvard University and a B.S. in physics from Caltech.

Barro is co-editor of Harvard’s Quarterly Journal of Economics and has been President of the Western Economic Association and Vice President of the American Economic Association.

He was a viewpoint columnist for Business Week from 1998 to 2006 and a contributing editor of The Wall Street Journal from 1991 to 1998. He has written extensively on macroeconomics and economic growth.

Recent research involves rare macroeconomic disasters, corporate tax reform, religion & economy, empirical determinants of economic growth, and economic effects of public debt and budget deficits. Recent books include The Wealth of Religions: The Political Economy of Believing and Belonging (with Rachel M. McCleary), Economic Growth (2nd edition, with Xavier Sala-i-Martin), Nothing Is Sacred: Economic Ideas for the New Millennium, Determinants of Economic Growth, and Getting It Right: Markets and Choices in a Free Society.

Jon Hartley is currently a Policy Fellow at the Hoover Institution, an economics PhD Candidate at Stanford University, a Senior Fellow at the Foundation for Research on Equal Opportunity (FREOPP), a Senior Fellow at the Macdonald-Laurier Institute, and an Affiliated Scholar at the Mercatus Center. Jon also is the host of the Capitalism and Freedom in the 21st Century Podcast, an official podcast of the Hoover Institution, a member of the Canadian Group of Economists, and the chair of the Economic Club of Miami.

Jon has previously worked at Goldman Sachs Asset Management as a Fixed Income Portfolio Construction and Risk Management Associate and as a Quantitative Investment Strategies Client Portfolio Management Senior Analyst and in various policy/governmental roles at the World Bank, IMF, Committee on Capital Markets Regulation, U.S. Congress Joint Economic Committee, the Federal Reserve Bank of New York, the Federal Reserve Bank of Chicago, and the Bank of Canada. 

Jon has also been a regular economics contributor for National Review Online, Forbes and The Huffington Post and has contributed to The Wall Street Journal, The New York Times, USA Today, Globe and Mail, National Post, and Toronto Star among other outlets. Jon has also appeared on CNBC, Fox Business, Fox News, Bloomberg, and NBC and was named to the 2017 Forbes 30 Under 30 Law & Policy list, the 2017 Wharton 40 Under 40 list and was previously a World Economic Forum Global Shaper.

ABOUT THE SERIES:

Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics.

For more information, visit: capitalismandfreedom.substack.com/

Jon Hartley and Eugene Fama discuss Gene’s career at the University of Chicago Booth School of Business since the 1960s and helping to start Dimensional Fund Advisers (DFA) in the 1980s, fat tails, the rise of modern portfolio theory, efficient markets versus behavioral finance, factor-based investing, the role of intermediaries, and whether asset prices are elastic versus inelastic with respect to demand.

Recorded on March 14, 2025.

ABOUT THE SPEAKERS:

Eugene F. Fama, 2013 Nobel laureate in economic sciences, is widely recognized as the "father of modern finance." His research is well-known in both the academic and investment communities. He is strongly identified with research on markets, particularly the efficient markets hypothesis. He focuses much of his research on the relation between risk and expected return and its implications for portfolio management. His work has transformed the way finance is viewed and conducted.

Fama is a prolific author, having written two books and published more than 100 articles in academic journals. He is among the most cited researchers in economics.

In addition to the Nobel Prize in Economic Sciences, Fama was the first elected fellow of the American Finance Association in 2001. He is also a fellow of the Econometric Society and the American Academy of Arts and Sciences. He was the first recipient of three major prizes in finance: the Deutsche Bank Prize in Financial Economics (2005), the Morgan Stanley American Finance Association Award for Excellence in Finance (2007), and the Onassis Prize in Finance (2009). Other awards include the 1982 Chaire Francqui (Belgian National Science Prize), the 2006 Nicholas Molodovsky Award from the CFA Institute recognizing his work in portfolio theory and asset pricing, and the 2007 Fred Arditti Innovation Award given by the Chicago Mercantile Exchange Center for Innovation. He was awarded doctor of law degrees by the University of Rochester and DePaul University, a doctor honoris causa by the Catholic University of Leuven, Belgium, and a doctor of science honoris causa by Tufts University.

Fama earned a bachelor's degree from Tufts University in 1960, followed by an MBA and PhD from the University of Chicago Graduate School of Business (now the Booth School) in 1964. He joined the GSB faculty in 1963.

Fama is a father of four and a grandfather of ten. He is an avid golfer, an opera buff, and a former windsurfer and tennis player. He is a member of Malden Catholic High School's athletic hall of fame.

Jon Hartley is currently a Policy Fellow at the Hoover Institution, an economics PhD Candidate at Stanford University, a Senior Fellow at the Foundation for Research on Equal Opportunity (FREOPP), a Senior Fellow at the Macdonald-Laurier Institute, and an Affiliated Scholar at the Mercatus Center. Jon also is the host of the Capitalism and Freedom in the 21st Century Podcast, an official podcast of the Hoover Institution, a member of the Canadian Group of Economists, and the chair of the Economic Club of Miami.

Jon has previously worked at Goldman Sachs Asset Management as a Fixed Income Portfolio Construction and Risk Management Associate and as a Quantitative Investment Strategies Client Portfolio Management Senior Analyst and in various policy/governmental roles at the World Bank, IMF, Committee on Capital Markets Regulation, U.S. Congress Joint Economic Committee, the Federal Reserve Bank of New York, the Federal Reserve Bank of Chicago, and the Bank of Canada. 

Jon has also been a regular economics contributor for National Review Online, Forbes and The Huffington Post and has contributed to The Wall Street Journal, The New York Times, USA Today, Globe and Mail, National Post, and Toronto Star among other outlets. Jon has also appeared on CNBC, Fox Business, Fox News, Bloomberg, and NBC and was named to the 2017 Forbes 30 Under 30 Law & Policy list, the 2017 Wharton 40 Under 40 list and was previously a World Economic Forum Global Shaper.

ABOUT THE SERIES:

Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics.

For more information, visit: capitalismandfreedom.substack.com/

Jon Hartley and Raghuram Rajan discuss Raghu’s research, his policy career including his time as the Governor of the Reserve Bank of India and the Chief Economic Adviser to the Government of India under Prime Minister Manmohan Singh, India adopting inflation targeting during his tenure, Rajan predicting the 2008 financial crisis, and economic growth in India, the legacy of his book Saving Capitalism from the Capitalists among many other topics.

Recorded on February 19, 2025.

ABOUT THE SPEAKERS:

Raghuram Rajan is the Katherine Dusak Miller Distinguished Service Professor of Finance at Chicago Booth. He was the 23rd Governor of the Reserve Bank of India between September 2013 and September 2016. Between 2003 and 2006, Dr. Rajan was the Chief Economist and Director of Research at the International Monetary Fund.

Dr. Rajan’s research interests are in banking, corporate finance, and economic development. The books he has written include Breaking the Mold: Reimagining India's Economic Future with Rohit Lamba,  The Third Pillar: How the State and Markets hold the Community Behind 2019 which was a finalist for the Financial Times Business Book of the Year prize and Fault Lines: How Hidden Fractures Still Threaten the World Economy, for which he was awarded the Financial Times prize for Business Book of the Year in 2010.

Dr. Rajan is a member of the Group of Thirty. He was the President of the American Finance Association in 2011 and is a member of the American Academy of Arts and Sciences. In January 2003, the American Finance Association awarded Dr. Rajan the inaugural Fischer Black Prize for the best finance researcher under the age of 40. The other awards he has received include the Infosys Prize for the Economic Sciences in 2012, the Deutsche Bank Prize for Financial Economics in 2013, Euromoney Central Banker Governor of the Year 2014, and Banker Magazine (FT Group) Central Bank Governor of the Year 2016. Dr. Rajan is the Chairman of the Per Jacobsson Foundation, the senior economic advisor to BDT Capital, and a managing director at Andersen Tax.

Jon Hartley is a policy fellow, the host of the Capitalism and Freedom in the 21st Century Podcast at the Hoover Institution and an economics PhD Candidate at Stanford University, where he specializes in finance, labor economics, and macroeconomics. He is also currently an Affiliated Scholar at the Mercatus Center, a Senior Fellow at the Foundation for Research on Equal Opportunity (FREOPP), and a Senior Fellow at the Macdonald-Laurier Institute. Jon is also a member of the Canadian Group of Economists, and serves as chair of the Economic Club of Miami.

Jon has previously worked at Goldman Sachs Asset Management as well as in various policy roles at the World Bank, IMF, Committee on Capital Markets Regulation, US Congress Joint Economic Committee, the Federal Reserve Bank of New York, the Federal Reserve Bank of Chicago, and the Bank of Canada. 

Jon has also been a regular economics contributor for National Review Online, Forbes, and The Huffington Post and has contributed to The Wall Street Journal, The New York Times, USA Today, Globe and Mail, National Post, and Toronto Star among other outlets. Jon has also appeared on CNBC, Fox Business, Fox News, Bloomberg, and NBC, and was named to the 2017 Forbes 30 Under 30 Law & Policy list, the 2017 Wharton 40 Under 40 list, and was previously a World Economic Forum Global Shaper.

ABOUT THE SERIES:

Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics.

For more information, visit: capitalismandfreedom.substack.com/

Jon Hartley and Neale Mahoney (Stanford Economics Professor) discuss Neale’s career, Neale’s research on consumer sentiment, junk fees, and medical debt, as well as Neale’s time in the Biden Administration National Economic Council and the future of economic policy.

Recorded on January 8, 2025. 

ABOUT THE SPEAKERS:

Neale Mahoney is the Trione Director of Stanford Institute for Economic Policy Research (SIEPR), a Professor of Economics at Stanford University, the George P. Shultz Fellow at SIEPR, a Research Associate at the National Bureau of Economic Research, and an Affiliated Professor at J-PAL. In 2022-2023, he was a Special Policy Advisor for Economic Policy in the White House National Economic Council.

Mahoney is an applied micro-economist with an interest in healthcare and consumer financial markets. He is a member of the Consumer Financial Protection Bureau (CFPB) Academic Research Council. He received the ASHEcon Medal in 2021 (given to an economist age 40 or under who has made the most significant contributions to the field of health economics) and a Sloan Research Fellowship in 2016. 

Before joining Stanford, Mahoney was a professor of Economics and David G. Booth Faculty Fellow at the University of Chicago Booth School of Business. He was also a Robert Wood Johnson Fellow in health policy research at Harvard University and worked for the Obama Administration on healthcare reform. Mahoney received a PhD and MA in economics from Stanford University and an ScB in applied mathematics-economics from Brown University.

Follow Neale Mahoney on X: @nealemahoney

Jon Hartley is a policy fellow, the host of the Capitalism and Freedom in the 21st Century Podcast at the Hoover Institution and an economics PhD Candidate at Stanford University, where he specializes in finance, labor economics, and macroeconomics. He is also currently an Affiliated Scholar at the Mercatus Center, a Senior Fellow at the Foundation for Research on Equal Opportunity (FREOPP), and a Senior Fellow at the Macdonald-Laurier Institute. Jon is also a member of the Canadian Group of Economists, and serves as chair of the Economic Club of Miami.

Jon has previously worked at Goldman Sachs Asset Management as well as in various policy roles at the World Bank, IMF, Committee on Capital Markets Regulation, US Congress Joint Economic Committee, the Federal Reserve Bank of New York, the Federal Reserve Bank of Chicago, and the Bank of Canada. 

Jon has also been a regular economics contributor for National Review Online, Forbes, and The Huffington Post and has contributed to The Wall Street Journal, The New York Times, USA Today, Globe and Mail, National Post, and Toronto Star among other outlets. Jon has also appeared on CNBC, Fox Business, Fox News, Bloomberg, and NBC, and was named to the 2017 Forbes 30 Under 30 Law & Policy list, the 2017 Wharton 40 Under 40 list, and was previously a World Economic Forum Global Shaper.

ABOUT THE SERIES:

Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics.

For more information, visit: capitalismandfreedom.substack.com/