Let People Prosper Show Ep. 52: Is Capitalism Sustainable in America? Why Freedom Supports Prosperity w Dr. Michael Munger

Today, I'm honored to be joined by Dr. Michael Munger, director of the interdisciplinary politics, philosophy, and economics program at Duke University and professor of political science.

We discuss:
1) How transaction costs, including regulations and political corruption, prolong poverty and prevent prosperity and the role of economic freedom in human flourishing;
2) Whether capitalism can work within America’s republic and the ways in which it's currently failing because of too much government; and
3) Why cutting taxes without cutting spending is futile and the need for de-regulation, especially in regards to housing.

​Dr. Munger’s bio:

• Professor Munger received his Ph.D. in Economics at Washington University in St. Louis in 1984. Following his graduate training, he worked as a staff economist at the Federal Trade Commission. His first teaching job was in the Economics Department at Dartmouth College, followed by appointments in the Political Science Department at the University of Texas at Austin (1986-1990) and the University of North Carolina at Chapel Hill (1990-1997). At UNC he directed the MPA Program, which trains public service professionals, especially city and county management.
• He moved to Duke in 1997, and was Chair of the Political Science Department from 2000 through 2010. He has won three University-wide teaching awards (the Howard Johnson Award, an NAACP "Image" Award for teaching about race, and admission to the Bass Society of Teaching Fellows). He is currently director of the interdisciplinary PPE Program at Duke University.
• Munger’s recent books include “Choosing in Groups” (coauthored with his son, Kevin Munger) and "The Thing Itself," both in 2015. His research interests include the study of the morality of exchange and the working of the new "Middleman Economy." Much of his recent work has been in philosophy, examining the concept of truly voluntary exchange, a concept for which he coined the term "euvoluntary." His newest book addresses the sharing economy, and is entitled "Tomorrow 3.0.".

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