Nothing says we're doing something quite like a fresh round of economic sanctions. They're cheap, they're popular, and they let politicians look tough without adding much pain at home for Americans. But do they actually work? From Iran to Cuba, with oil tankers quietly dodging the rules in between, Lou and Phil look at who really ends up picking up the tab when a nation gets cut off. Pour something strong and press play on this episode of Happy Hour Econ.
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(All Episodes)Somewhere between tariffs, resurrected 1930s legislation, and a rebranded Great Lake, the United States decided to start a trade war with its most polite neighbor. Section 338 of the Smoot-Hawley Tariff Act—yes, that Smoot-Hawley—has been dusted off from the legislative graveyard to justify slapping Canada with tariffs nobody can quite explain the reasoning behind. Lou and Phil sort through the legal mess, the retaliatory liquor store bans, and a history lesson on the one war America actually lost, all while asking who really foots the bill when two friendly countries start slapping tariffs on each other. Pour yourself a drink and settle in for an episode that's equal parts economics lecture and international incident.
Dolly Parton was so beloved that her passing briefly brought the nation together. She was a country music icon and savvy entrepreneur who built a genuine business empire from a childhood spent in a one-room Appalachian cabin. Lou and Phil look at how she held onto her publishing rights when so many artists signed them away, turned a struggling stretch of Tennessee into a tourism powerhouse with Dollywood, and quietly gave away hundreds of millions of books through her Imagination Library. It's a rags-to-riches story that somehow undersells just how much she actually built. Pour one out for Dolly and tune in for Lou and Phil's full toast.
Is it "dā-ta center" or "dăt-a center"? Lou and Phil can't agree, but they're united on one thing: these giant server farms have become the most contested real estate in America. Between grid strain, water bills, and surveillance worries, there's plenty to be suspicious of, and just as many overblown claims borrowed straight from old fights over Bitcoin and net neutrality. Settle into your favorite seat at the bar for the full conversation on this week’s Happy Hour Econ with Lou and Phil.
More money, more administrators, worse outcomes—that's the trend line in American education, and Lou and Phil want to know how everyone keeps missing it. They talk about school choice as an actual accountability mechanism, why a college diploma isn't automatically worth its debt, and why the guy in charge of the budget has zero incentive to leave any of it unspent. Lou and Phil deliver the full lecture on this week's episode of Happy Hour Econ.
Free speech and free markets run on the same fuel: information. When the government steps in to control what can and can't be said, it's not just a free speech problem—it's an economic one, stifling the open exchange that lets markets and democracy both function. Lou and Phil explore the long, messy history of speech suppression in America, from Alexander Hamilton's grudge against newspaper editors, to the use of social media, to a certain retired public health official whose private diary tells a very different story than his public press briefings. Pour a drink and tune in to this episode of Happy Hour Econ to hear Lou and Phil sort out who's really doing the talking, and who's been quietly doing the silencing.
The Jones Act has been quietly taxing Americans for over a century, and it's finally getting some attention now that it's been suspended since March. Lou and Phil trace this WWI-era shipping law from its origins as a favor to a handful of politically connected shipbuilders to its very costly present-day legacy in Puerto Rico, Hawaii, and beyond. From there they turn to tariffs, where Phil makes his case that tariffs are little more than government-sanctioned favoritism, quietly shifting costs onto consumers to protect a narrow set of special interests, complete with a Supreme Court showdown and a "trade deficit emergency" that raises more questions than answers. Grab a drink and settle in for an economic history lesson with Lou and Phil on this episode of Happy Hour Econ.
"You will own nothing and be happy." That was one politician's prediction for 2030, floated in an essay for the World Economic Forum in 2016. Between Amazon Prime deciding which movies you get to keep and every song, show, and subscription living somewhere in a cloud you don't control, we might already be there. Lou and Phil trace it all back to Thomas Jefferson's edit of John Locke's theory of life, liberty, and property, and ask what happens to the pursuit of happiness once everything you own is really just a license somebody else can pull. Grab a drink you still technically own and join Lou and Phil for this week's episode of Happy Hour Econ to find out whether owning nothing is progress, or just renting with better branding.
Something's rotten in the produce aisle. Or at least, something is sending half the country's stomachs into open revolt. As a cyclosporiasis outbreak takes down Taco Bell's lettuce supply (and a lot of taco fans along with it), it's turning into more than just a recall story. Lou and Phil trace the whole thing back to Upton Sinclair's The Jungle, the FDA's surprisingly cynical origin story, and why market incentives might police food safety better than any government regulator. Grab a seat—maybe skip the salad—for this episode of Happy Hour Econ.
It's the peak of summer, and while half the country is cranking the AC, the mayor of New York is asking his constituents to embrace the heat for the good of the grid. Meanwhile, across the pond, entire cities are stuck sweating it out... in restaurants, hotels, even hospitals... because installing an air conditioner has become a bureaucratic nightmare. Is staying cool really the enemy of climate progress, or just an easy target for policymakers looking for control? Join Lou and Phil on this week's Happy Hour Econ as they get into why keeping cool might be the most radical thing you do this summer.
The World Cup has landed on American soil (with a little help from Canada and Mexico), and suddenly the whole world is discovering what U. S. locals take for granted—free refills, blasting AC, and the sheer, unbottled majesty of a Buc-ee's. But amid all the cultural exchange and ranch dressing diplomacy, there's a bigger question lurking behind the confetti: is hosting the world's biggest sporting event actually a good financial decision, or just an expensive party with really good branding? Lou and Phil break down the economics of subsidies, spectacle, and soft power on this week's Happy Hour Econ. Just don't ask them to explain the offside rule.
Elon Musk is officially the world's first trillionaire. Cue the outrage. But Lou and Phil aren't exactly reaching for the pitchforks. That’s because when you actually look at where that wealth comes from, the story gets a lot more complicated than the internet would have you believe. From Starlink satellites spooking people in the night sky to SpaceX cafeteria workers sitting on surprise fortunes, there's more going on here than a greedy villain origin story. Join Lou and Phil as they unpack what a trillion dollars actually means, and whether the people most upset about it have done the math on the almost $40 trillion the government owes.
Happy Birthday, America! What better way to celebrate 250 years than by arguing about taxes? Turns out the Founders had some thoughts on the matter. Lou and Phil dig into the surprisingly economic origins of the American Revolution, and why the tariff debate happening right now looks a lot more familiar than anyone in D. C. wants to admit. Also, was the Revolution actually just class warfare against billionaires? AOC thinks so. Phil has receipts.
The Federal Reserve: everyone's heard of it, nobody really knows what it does, and somehow it controls your mortgage rate. Lou and Phil crack open the black box of America's central bank—what it's supposed to do, and its, uh, mixed track record of actually doing it. Also: is there a world where it just… doesn't exist?
Hollywood has a problem. Star Wars just posted its worst domestic opening in the Disney era, the cost of an afternoon or night out at the multiplex keeps climbing, and somewhere in a boardroom, nobody seems to be connecting the dots. Lou and Phil grab a seat to break down why the movie industry keeps flooding the market with slop, ignoring the sovereign consumer, and acting surprised when nobody shows up.
Vacations? In this economy? Rising inflation, spikes in fuel prices, airline closures (RIP Spirit Airlines), and a whole host of other factors have people feeling the budget crunch as schools let out and summer looms. But we all need a break sometimes, so we just put the plane tickets—or admission fees or tanks of gas or nice lunches—on the credit card. Convenient, sure, but at what cost? Join comedian Lou Perez and economist Phil Magness as they chat about debt, summertime, and you on this week’s episode of Happy Hour Econ.
We already tax the rich. Like, a lot. The top 1% pays over 40% of their income in federal taxes while shouldering more than 80% of the federal government's revenue. So why does everyone keep yelling "tax the rich" and "pay your fair share" as though it's not already happening? Lou and Phil follow the money and the rhetoric to uncover who's really behind the push for wealth taxes, what they're actually after, and why the same policies that failed spectacularly in Europe are now being repackaged for American cities and states. Spoiler: billionaires have moving trucks, and they're not afraid to use them.
Used to be, California was a land of freedom and opportunity. A place where you could go to escape the oppressive regulatory regimes of the East. Today, it’s a different story. “Petty” crimes get ignored while burdensome regulations are strictly enforced. The money from high taxes gets spent on projects that never materialize. Join Lou and Phil as they chat about the absolute state of California on this week’s episode of Happy Hour Econ.
“The rent is too darn high.” We hear a lot about a “housing affordability crisis” in the U. S. And to be fair, in some places around the country, particularly certain urban areas, the cost to rent or buy a place to live is very steep. But not everywhere. So what’s really going on here? Is it a supply-and-demand issue? Landlords and sellers just being greedy? NIMBYs run amok? Well, it’s complicated. But Lou and Phil are on the case.
Look, we all need to eat. Where there are people, there is a built-in demand for sustenance. Therefore, the existence of “food deserts” is obviously the result of late-stage capitalism deliberately keeping nutrition away from certain groups of people. Right? Well, no. In this week’s Happy Hour Econ, Lou and Phil are cooking up a spicy look at what’s behind how we feed ourselves.
With the successful execution of Artemis II, manned space exploration is back on the scene. But sending humans to the moon raises a whole host of questions. Why are we doing this? Why did we ever do this? Should we be spending money on it? Who owns the moon, anyway? And what does any of it have to do with Spaghetti Westerns? Join your favorite space-cases, Lou and Phil, as they boldly go where no comedian and economist has gone before. Conversationally, anyway.
It’s 4/20, and you know what that means! Love it, hate it, or fall somewhere in the middle, the simple fact is that marijuana—or cannabis, or weed, or even the Devil’s Lettuce—is having a very real moment. But how did we go from Reefer Madness-levels of social stigma to sleek, sophisticated dispensaries that will deliver directly to your door? Join Lou and Phil for this blazing episode of Happy Hour Econ as they get into the weeds of, well, weed.
If you tried to describe Las Vegas, Nevada, to someone who’d never heard of it, the city would seem like a fever dream lifted straight out of a completely unhinged novel. In the middle of a desolate desert landscape, a glittering oasis rises as though from nowhere, filled with every form of entertainment and vice you could hope for, all cleverly designed to keep you there for as long as possible. And yet, it’s real. You can visit it! But, like, how? Lou and Phil are headed to Vegas in this episode of Happy Hour Econ to pull back the curtain on the economics of Sin City.
What happens when bold predictions of global catastrophe meet…reality? In this episode of Happy Hour Econ, a comedian and an economist take a hilarious yet insightful deep dive into The Population Bomb and the legacy of Paul Ehrlich’s infamous overpopulation predictions. Lou and Phil dive into why humanity stubbornly refused to starve (thanks, innovation!), how government policies sometimes make things worse (oops), and why betting against human ingenuity might be the worst long-term investment strategy ever.
Why are gas prices so high—and why does it feel like they never come back down? In this episode of Happy Hour Econ, comedian Lou Perez and economist Phil Magness break down the real reasons behind rising gas prices, from global oil supply shocks to foreign policy chaos and everything in between. With humor and sharp economic insight, they explore how events like conflict in the Middle East, disruptions in the Strait of Hormuz, and instability in oil-producing countries like Venezuela can send shockwaves straight to your local gas pump. You’ll also learn why gas prices vary by region, how taxes and regulations impact what you pay, and why the U. S. can’t just “become energy independent” overnight.
This week on Happy Hour Econ, the brackets are busted, the probabilities are brutal, and your leftover lasagna might actually have better odds than your Final Four picks. Why is it nearly impossible to pick a perfect March Madness bracket? How does the NCAA make billions—and who actually gets paid? And what do your fridge leftovers have to do with economic theory? In this episode of Happy Hour Econ, comedian Lou Perez and economist Phil Magness break down the madness behind March Madness. From busted brackets and the brutal math of probability to the concept of mutually exclusive decisions, they explain why your championship pick was doomed from the start.
In this episode of Happy Hour Econ, comedian Lou Perez and economist Phil Magness walk into a bar… and accidentally start a 25-minute debate about socialism. Oops. With the Democratic Socialists of America hitting 100,000 members and socialism suddenly trending with younger generations, Lou asks the obvious question: Why? The conversation also touches on socialism vs capitalism, the role of markets in allocating resources, and how political decision-making could affect everyday life—yes, even something as simple as buying a PlayStation 5. From historical lessons about shortages and central planning to the debate over whether socialism promises equality or delivers inefficiency, Lou and Phil break it all down with humor and insight.
Why do Americans not choo-choo-choose trains? In this episode of Happy Hour Econ, comedian Lou Perez and economist Phil Magness climb aboard the great American train debate and ask a simple question: Why does everyone on the internet suddenly want bullet trains? From Lou’s beer-blurred European train adventures to Phil’s deep dive into railroad history, they explore why train travel works in Europe and Japan but struggles in America. Along the way they unpack the real economic factors behind transportation policy, including population density, infrastructure costs, government incentives, and regulatory hurdles.
In this episode of Happy Hour Econ, comedian Lou Perez and economist Phil Magness swap Olympic highlights for tariff takedowns—and somehow make constitutional law feel like a bar bet you didn’t know you were placing. While the rest of America was celebrating gold medals, Phil was glued to a different showdown: the Supreme Court smacking down President Donald Trump’s sweeping “Tariff Liberation Day” extravaganza. Yes, that’s right—tariffs so enthusiastic they reportedly targeted everything.
Are you boycotting us right now? From the Boston Tea Party to the Super Bowl halftime show heard ’round the internet (featuring global superstar Bad Bunny), the guys break down what boycotts are, how they work, and why simply changing the channel may not be the revolutionary act you think it is. The conversation dives into the real-world impact of boycotts in Puerto Rico, including how shipping regulations affect island economies, why concentrated political interests often outmaneuver diffuse public outrage, and what makes some protests economically effective while others backfire.
What’s the real cost of hosting the Winter Olympics? Why do cities go billions into debt for two weeks of figure skating and curling? And are Olympic gold medals actually… plastic? In this laugh-out-loud episode of Happy Hour Econ, comedian Lou Perez and economist Phil Magness break down the economics of the Olympic Games, exposing the financial myths, political drama, and corruption scandals behind one of the world’s biggest sporting events.
Can artificial intelligence replace artists, comedians, or even George Carlin? 🤖🍸 In this episode of Happy Hour Econ, comedian Lou Perez and economist Phil Magnus dive into the economics of AI, creativity, and art—while trying to figure out if robots are coming for Lou’s stand-up career. From AI-generated comedy specials and deepfake celebrity voices to copyright law, creative authenticity, and whether Michael Caine will ever make Jaws 5, this episode explores how artificial intelligence is reshaping comedy, movies, music, and culture.
Is ChatGPT a productivity tool, a plagiarism machine, or the first step toward a robot apocalypse? On this episode of Happy Hour Econ, comedian Lou Perez and economist Phil Magness dive into how machines still can’t think like humans (or write a good term paper), how creative destruction has always reshaped the economy, and why nuclear power is suddenly back in the conversation. AI is already impacting jobs in research, education, and graphic design. Is there more to come?
WTF is the World Economic Forum—and why does it feel like every James Bond villain vacations there? From global elites and technocrats to climate change policy, net zero, and the infamous “you’ll own nothing and be happy” slogan, we unpack the biggest ideas—and strangest headlines—coming out of Davos. Topics include credit card interest rate caps, usury, central planning, AI-driven technocracy, climate hypocrisy, private jets, buying Greenland, and yes… eating bugs instead of burgers.
How much should you tip a bartender, waiter, delivery driver, or barista—and why does tipping feel so awkward now? In this episode of Happy Hour Econ, comedian Lou Perez and economist Phil Magness break down the economics of tipping, America’s tipping culture, why tip screens seem to be everywhere, and how that iPad that definitely judged you.
Cuddling in a warm blanket with your family…to prevent yourself from freezing in your rent controlled apartment. Is this the “Warmth of Collectivism” that everyone is talking about? Join your hosts as the break down the economic reality on NYC’s latest craze.
What are you REALLY buying with that gym membership to ring in the New Year? From limiting social media to working out, your New Year’s resolutions have both economic and social impacts. What are they? Find out on the latest episode of Happy Hour Econ.
No more Black Friday stampedes…humbug! Let Comedian Lou Perez, and Economist Phil Magness guide your sleigh though the surprising economics of the Christmas season. From the downfall of Black Friday madness to dealing with cheap gifts and the signals they send, pull up a stool, pour a drink, and have a shot of economic reality with the debut episode of Happy Hour Econ.
