Capital Record

National Review
  • 4.8 (419)
  • BUSINESS NEWS
  • UPDATED WEEKLY

American prosperity was built on a foundation of free markets and free people. But, with inflation on the rise and a struggling market, many in America’s political class are attempting to recycle failed socialist ideas and calling for government intervention in nearly every aspect of American life. In this National Review Capital Matters podcast, presented by the National Review Institute, financier David Bahnsen hosts interviews with the nation’s top business leaders, entrepreneurs, and financial commentators. Tune in to hear guests such as Larry Kudlow, Steve Forbes, and Art Laffer present a practical and moral vindication of America’s capitalist way of life.

Episodes

  1. 3D AGO

    Episode 236: Bond Vigilantes, Bad Chart Readers, and False Prophets

    Is the U.S. bond market rejecting the fiscal state of the country? Is it declaring doom and gloom? Is it begging us not to do this “big, beautiful bill”? Or, is the fiscal state of the country deeply troubled? Is the new bill a big disappointment, but the bond market is saying no such thing (for reasons you deserve to understand)? In this very important Capital Record, David makes the argument that those wrongly declaring some form of bond market revolt are hurting the cause of fiscal reform, undermining credibility, and making it harder for the real needs we have to be addressed. This rejection of crying wolf comes at a very important time for this woefully managed country!

    18 min

  2. MAY 22

    Episode 235: SPAC Attack and Market Basics

    Financial innovations are demonized all the time, and perhaps David should be grateful because a low regard for capital markets is what motivated the creation of this podcast. But today he looks at SPACs and the criticisms of them as an example of how fallacious defense of central planning works. He makes the case that protection against fraud is one thing, but protection against loss is another. And ultimately, he makes the case that a system of robust financial markets has gains and losses, and that is a good thing.

    19 min
  3. Episode 234: Markets Are Not Imposed by Politics

    MAY 20

    Episode 234: Markets Are Not Imposed by Politics

    There was a time conservatives all knew this, but the new right's fatal flaw is not just in the application -- the perpetual desire for more state intervention -- but rather in the very nature of things that they get wrong. Markets are not created by the state, but rather by voluntary, organic human interaction. David unpacks the relevance of this basic creational, economic, and yes, moral message, in today’s Capital Record.

    13 min
  4. Episode 233: Conservative vs. Libertarian Economics

    MAY 13

    Episode 233: Conservative vs. Libertarian Economics

    Populism seems to be the driving force of the new right’s economic philosophy. The new right has said that they want to take on “libertarian” economics and “free market orthodoxy.” Others have said that “libertarian economics is the same thing as conservative economics” (i.e., laissez-faire, low tax, low regulation, etc.). David suggests the need of the hour is not just more precise definitions, but a truly robust understanding of conservative economics -- one that goes where libertarianism didn’t, and goes where populism simply can’t.

    19 min
  5. Episode 232: Protectionism vs. Free Enterprise

    MAY 8

    Episode 232: Protectionism vs. Free Enterprise

    David takes on the idea that protectionism and globalization are chief rivals, and instead suggests that the chief rival of protectionism is free enterprise itself. He critiques Joe Nocera’s recent Free Press article suggesting that the protectionists have been vindicated, and instead suggests that the entire protectionist agenda is essentially the plight of the central planner. A careful critique of the tariff dogma, combined with a non-revisionist view of what has transpired in trade and culture over the last few decades!

    24 min
  6. Episode 231: When Engagement Is Enjoyable and Valuable

    MAY 6

    Episode 231: When Engagement Is Enjoyable and Valuable

    How One Family Aims to Break Liberals' Corporate Voting Power

    17 min
  7. Episode 230: Transparency for Thee but Not for Me

    MAY 1

    Episode 230: Transparency for Thee but Not for Me

    As the Trump administration and Amazon/Bezos almost duked it out over the “shocking” idea of disclosing the impact to prices from taxes on imports, those of us seeking to understand economic application out of cogent economic theory were given a great chance to relearn some lessons from master himself, Friedrich Hayek. It turns out price discovery is important in economics for the same reason transparency is important in political theory -- and this ought to be a very non-partisan belief!

    15 min
  8. Episode 229: Two Ways to Hurt the Working Class

    APR 24

    Episode 229: Two Ways to Hurt the Working Class

    Veronique De Rugy’s phenomenal article

    17 min
  9. Episode 228: Moving the Wrong Way with the Fed

    APR 22

    Episode 228: Moving the Wrong Way with the Fed

    If our goal is a monetary policy that minimizes interventions and distortions in the marketplace and most optimally allows capital to find its most efficient use, the last thing we should want is a Fed that is less independent and more captive to political whims and desires. David explains his various criticisms of Jerome Powell this week, but points out how we make things much worse, not better, if we believe it a good idea for the Fed to be a pawn of the president. In this case, it is counterproductive; for future precedent, it is downright dangerous.

    11 min
  10. Episode 227: A Crisis of Responsibility About the U.S. Dollar

    APR 17

    Episode 227: A Crisis of Responsibility About the U.S. Dollar

    With so much talk circulating that Americans need to be deathly afraid of a “strong dollar,” David takes on recent comments from Stephen Miran, chair of the Council of Economic Advisers, suggesting that a strong dollar is really unfair to Americans. Underlying some of these recent allegations about dollar supremacy is a familiar crisis of responsibility. It is time to set the record straight.

    20 min
  11. Episode 226: The Stock Market vs. The Real Economy?

    APR 15

    Episode 226: The Stock Market vs. The Real Economy?

    David talks about all the things that are right in the dichotomy between the “stock market” and the “real economy,” but then goes into all the things that are wrong – namely, that 99% of the time someone is making this distinction, they are doing it wrong, for the wrong reasons, in the wrong way. Understanding what public equity prices measure versus what broad economic data measures is a good thing, but pitting capital against labor is called “Marxism” – and it can be deadly wrong.

    16 min
  • 11 Episodes

    4.8
    out of 5
    419 Ratings

    About

    American prosperity was built on a foundation of free markets and free people. But, with inflation on the rise and a struggling market, many in America’s political class are attempting to recycle failed socialist ideas and calling for government intervention in nearly every aspect of American life. In this National Review Capital Matters podcast, presented by the National Review Institute, financier David Bahnsen hosts interviews with the nation’s top business leaders, entrepreneurs, and financial commentators. Tune in to hear guests such as Larry Kudlow, Steve Forbes, and Art Laffer present a practical and moral vindication of America’s capitalist way of life.

    Information

    • Creator
      National Review
    • Years Active
      2021 - 2025
    • Episodes
      11
    • Rating
      Clean
    • Copyright
      © National Review
    • Show Website
      Capital Record

    You Might Also Like

    Content Restricted

    This episode can’t be played on the web in your country or region.

    To listen to explicit episodes, sign in.

    Stay up to date with this show

    Sign in or sign up to follow shows, save episodes, and get the latest updates.
    Select a country or region

    Africa, Middle East, and India

    Asia Pacific

    Europe

    Latin America and the Caribbean

    The United States and Canada