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    Education

    Words & Numbers

    Words & Numbers is one of the highest-rated economics podcasts in the world. Each episode, Antony Davies and James R. Harrigan dig into economics, political science, and current events to explain what’s actually happening and why it matters.

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    Copyright: © Creative Commons

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    Latest Episodes:
    Episode 461: Social Insecurity Oct 07, 2025
    Show notes

    In this episode, we discuss the implications of hope and agency through the lens of a rat experiment, the collapse and economic realities of the NFT market, and a proposed plan to reform Social Security, exploring the urgent need for a sustainable solution to its impending insolvency.


    00:00 Introduction

    00:27 Lessons from a Rat Experiment

    06:05 The Impact of Hope on Human Agency

    10:59 Cultural Shifts and Racism in America

    15:20 The Rise and Fall of NFTs

    20:15 Social Security: A Looming Crisis

    24:22 Inequities in Social Security Returns

    26:00 The Death Tax of Social Security

    27:12 Proposed Changes to Social Security

    33:17 Transitioning Away from Social Security

    37:24 The Long-Term Financial Outlook

    40:38 Political Challenges and Realities

    45:07 The Inevitable Consequences of Inaction

    50:21 What Should We Do?

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    Episode 460: Echo Echo Chamber Chamber Oct 02, 2025
    Show notes

    In this episode, we explore the complexities of the housing market, comparing the cost of housing today with that of the 1980s. We also examine the broader economic implications of these trends and the psychological perceptions of average living standards. Our main focus is how social media shapes public opinion and creates ideological echo chambers, and why it’s important to understand diverse perspectives.


    00:00 Introduction

    00:26 The Cost of Housing: A Historical Perspective

    06:38 Analyzing Trends in Household Wealth

    09:13 Is The Rapture Upon Us?

    13:44 Ideological Bubbles

    18:54 The Role of Social Media in Creating Echo Chambers

    22:12 The Consequences of Ideological Isolation

    25:13 The Financial Incentives of Echo Chambers

    28:34 The Role of AI in Social Degeneration

    30:30 The Uniqueness of YouTube

    32:05 The Importance of Humanization in Online Spaces

    34:16 The Virtue of Sympathy

    36:23 How to Leave Your Echo Chamber

    38:32 Conclusion

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    Episode 459: What the Fed? Sep 30, 2025
    Show notes

    In this episode, we examine the surprising homelessness rates in Germany and what’s being done about it, as well as the recent interest rate cuts by the Federal Reserve, analyzing their potential impact on inflation, consumer behavior, and the broader economy. We discuss societal perceptions of obesity, the role of government policy in shaping economic outcomes, and the challenges of balancing economic growth with social welfare. Finally, we reflect on the importance of understanding economic indicators and their real-world implications.


    00:00 Introduction

    00:27 Homelessness and Poverty in Germany

    12:20 New Study on Obesity

    18:07 Foolishness of the Week: Pam Bondi on Hate Speech

    27:13 The Fed Cuts Interest Rates

    33:12 The Role of the Federal Reserve

    38:41 The Fed’s Inflation Problem

    41:47 The Government’s Borrowing Problem

    46:16 Inflation is a Tax

    48:20 The Effects of Political Influence on the Fed

    49:37 Long-term Economic Impacts of Inflation

    52:24 New Currency and the Value of Money

    57:58 The Dangers of Centralized Digital Currency

    01:01:43 Our Grim Economic Predictions

    01:04:45 What Should We Do?

    01:09:11 Conclusion

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    Episode 458: Fact Check: Trump’s UN Speech Sep 25, 2025
    Show notes

    In this episode, we discuss the themes of justice and forgiveness, the alarming rise of antibiotic-resistant bacteria, the absurdities of homeowners association regulations, the implications of language and identity in societal discourse, and the importance of fact-checking political statements. We explore the complexities of crime and punishment, the unintended consequences of COVID-19 on healthcare, and the challenges of accurately measuring economic indicators like inflation. We also break down the numbers of various economic indicators, including inflation trends, stock market performance, and consumer spending. We analyze the implications of tax cuts and foreign investment, while also exploring cultural perspectives on social cohesion and accountability, highlighting the complexities of economic data and the importance of accurate representation in political discourse.


    00:00 Introduction

    00:24 Justice vs. Forgiveness

    02:41 The Role of Society in Justice

    09:31 Consequences of COVID on Antibiotic Resistance

    16:42 The Absurdity of HOA Regulations

    23:03 England’s New Phrase for Women

    26:11 The Impact of Headlines on Public Discourse

    28:51 Navigating News Bias and Sources

    32:01 Trump’s Skill as a Public Speaker

    34:26 Fact-Checking Trump's UN Address

    38:58 Understanding Economic Indicators

    45:55 Analyzing the Stock Market Performance

    54:49 Investment Trends Under Different Administrations

    58:17 Tax Cuts and Their Impact on the Economy

    01:00:02 Comparing Economic Policies: Trump vs. Reagan

    01:03:26 Analyzing the U.S. Economic Landscape

    01:05:39 The Importance of Accurate Economic Messaging

    01:08:00 The Role of Truth in Political Discourse

    01:11:32 Cultural Perspectives on Forgiveness and Accountability

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    Episode 457: Weaponizing the DOJ Sep 23, 2025
    Show notes

    In this episode, we are joined by Clark Neily, Senior Vice President for Legal Studies at the Cato Institute, to discuss the weaponization of the Department of Justice and the broader implications of plea bargaining and charge stacking in the U.S. legal system. We dive into the erosion of jury trials, the impact of coercive plea deals, and the challenges of maintaining justice and human dignity in a system increasingly reliant on non-public procedures. We also touch on the historical context of these issues and the potential for reform.


    00:00 Introduction

    00:31 The Efficacy of Acupuncture for Chronic Back Pain

    04:54 Charlie Kirk Memorial Service

    07:59 Foolishness of the Week

    10:47 Clark Neily Introduction

    12:38 Trump Truth Social Post

    17:23 Plea Bargaining and Charge Stacking

    22:44 Weaponization of the DOJ

    26:00 Public Trust in DOJ Waning

    28:41 The Constitution Right to a Jury Trial

    30:45 The Role of the Supreme Court

    36:39 Grand Jury Indictments

    41:11 What’s Next for the DOJ

    45:59 Historical Context and Legal Reform

    49:10 The Importance of Jury Duty

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    Episode 456: Happy Deficit Day! Sep 18, 2025
    Show notes

    In this episode, we discuss rising food prices, new breakthroughs in autism research, AI foolishness, and the societal and economic implications of these issues. We also celebrate Deficit Day, and dive into the issues of government spending, fiscal responsibility, and budgets. Finally, we offer a variety of solutions on how to solve the debt crisis.


    00:00 Introduction and Overview

    00:32 Rising Food Prices: Economic Impacts of Tariffs and Immigration

    04:09 The Role of Labor in Society

    06:02 Autism Research Breakthroughs

    10:38 Foolishness of the Week: Artificial Intelligence

    16:18 Deficit Day and Government Spending

    23:19 Fiscal Responsibility and Government Budgets

    27:10 How Can the Debt Crisis Be Solved?

    32:53 The Mystery of the Budget Surplus

    36:30 Taxing the Rich Isn’t the Solution

    37:23 How We Lower the Deficit

    41:14 Interest Rates and Inflation

    44:17 Conclusion and Reflections

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    Episode 455: Charlie Kirk and the Death of Civility Sep 16, 2025
    Show notes

    In this episode, we discuss the implications of quarterly reporting on corporate behavior, the innovative approach of traffic cameras in Sweden, and the societal impact of Charlie Kirk's murder. We explore the role of social media in shaping public discourse, the subjective nature of truth, and the consequences of cancel culture. We emphasize the importance of respectful dialogue and the need for new institutions to address the challenges of modern communication.


    00:00 Introduction

    02:22 The Role of Incentives in Traffic Regulation

    05:45 Quarterly Reporting and Corporate Behavior

    08:51 The Impact of Stock Market Regulations

    11:18 The Foolishness of the Week: NFL and Sex Toys

    14:19 Reflections on Violence and Society

    19:19 The Subjectivity of Truth and Its Consequences

    26:35 Cancel Culture and Accountability

    28:52 First Amendment and Consequences

    30:34 Celebrating Death and Losing Individual Respect

    33:39 Debate and Respectful Discourse

    36:54 Rhetoric and Violence in Politics

    37:35 The Role of Social Media in Society

    42:20 Turning Down the Heat

    46:15 Context Matters: Debunking the Lies About Charlie Kirk

    49:56 What Comes Next?

    52:20 Human Respect

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    Episode 454: Jobs! Jobs! Jobs! Sep 11, 2025
    Show notes

    In this episode, we discuss the contrasting ideologies of capitalism and socialism, exploring the implications of government intervention, market solutions, and the importance of incentives. We delve into the story of Howard Buffett's efforts to incentivize Colombian farmers to switch from cocaine to coffee, highlighting the effectiveness of market-driven solutions over government spending. The conversation also touches on the rise of socialism in America, the issue of cronyism, and the impact of regulations on market dynamics. We critique Portland's new fines on vacant properties and analyze the latest jobs numbers in the context of economic policies, particularly tariffs. We conclude with a call for civil discourse and action to hold Congress accountable for its responsibilities.

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    Episode 453: Running Away from Taxes Sep 09, 2025
    Show notes

    In this episode, we discuss the implications of tariffs, the state of free speech in the UK, and the ongoing lawsuit between Newsmax and Fox News. We also explore migration trends across states, the right of exit concerning taxation, and the effects of progressive taxation on economic mobility.

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    Episode 452: The Benefits of a Conservative Supreme Court Sep 04, 2025
    Show notes

    The Supreme Court’s conservative majority may be the only thing standing in the way of legislative tyranny, and not in the ways you might think.

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