Recorded on September 8, 2016
Hoover Institution fellow Thomas Sowell discusses inequality and how it is part of the human condition. Sowell notes that political and ideological struggles have led to a dangerous confusion about income inequality in America. We cannot properly understand inequality if we focus on the distribution of wealth and ignore wealth production factors such as geography, demography, and culture. What is important is not inequality but human capital; once human capital is unleashed it creates an enormous amount of wealth for people of all classes. In addition there needs to be a sense of humility and gratitude for the generations that have gone before us for the prosperity we have today.
Articles
Interest-paying electronic money, completely safe without deposit insurance, would be a great thing. For example, Silicon Valley Bank would never have had huge uninsured deposits that ran if there had been an easy safe place for large depositors to put their money.
September 22, 2026
Videos
Chicago Fed President Austan Goolsbee sits down with Steve for a conversation about how central banks should respond to supply shocks. Steve also asks Austan for the inside story on what happens at FOMC meetings.
September 23, 2026
Articles
Many people have appropriately criticized President Trump’s promise to give $5,000 to every American adult if the voters elect enough Senators and House members to keep Republican control of each chamber.
September 18, 2026
