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Heartland’s Donald Kendal, and Justin Haskins are joined by Isaac Orr, Policy Fellow at the Center of the American Experiment, in episode #183 of the In The Tank Podcast. This weekly podcast features (as always) interviews, debates, and roundtable discussions that explore the work of think tanks across the country. The show is available for download as part of the Heartland Daily Podcast every Friday. Today’s episode features work from the Manhattan Institute, the Mises Institute, and the Foundation for Economic Education.
In the first segment, Donny is joined by Robert Bryce, senior fellow from the Manhattan Institute. Robert joins the show to talk about his upcoming documentary titled Juice: How Electricity Explains the World. Robert explains why energy is the master resource that serves as a cornerstone of modern society. In addition to this, Robert weighs in on the Green New Deal and renewable energy in general.
Donny then asks Justin about an article he recently published with Fox News titled “There aren’t enough billionaires in the world to pay for AOC, Beto, and Bernie’s socialist proposals.” As Justin explains in the article, if we confiscated all the wealth of all the billionaire in the world, it still would not be enough to fund all the programs proposed by these politicians.
What happens when traditional economics does not provide a path to fund all these projects? Make up an economic theory that does! Modern Monetary Theory (MMT) is the new theory that proposes that deficits and debt are largely irrelevant. The government can print and spend as much money as it wants without any real consequence. And taxes are just a tool to manage the economy and society as a whole. As Donny and Justin explain, this is a backdoor to socialism.
Mises Institute – The Upside-Down World of MMT
Foundation for Economic Education – Modern Monetary Theory Isn’t Economics
In the last segment, the trio talk about State Nullification. Legislators in Missouri recently proposed a law that would ban all federal gun control laws. Isaac and Justin weigh in about the practical application of this concept, how far it could go, and the push back would inevitably follow.
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