Today, my new podcast with the American Institute for Economic Research, Econception, released its first episode. I talk about why the national debt is a problem, building on analysis from a 1989 paper by Herbert Stein (of Stein’s law). The national debt is a problem, and the national debt is big, but it is not a problem because it is big. It is a problem because it represents a misallocation of the national income. And that problem is much more serious than most people understand.

I also talk about whether two-thirds of Americans are “living paycheck to paycheck” (spoiler alert: not really) and the proposed merger between JetBlue and Spirit Airlines. The podcast will also feature one great economics paper each episode. Tune in to hear about one of my personal favorites, from the economist Armen Alchian.

Subscribe to Econception using one of the links here. And tune in twice a month to hear from me and a variety of guests about economic issues and principles.