The Economist Next Door

Why everyone feels broke in an age of abundance.

While inflation has dominated headlines in recent years, understanding true economic affordability requires looking beyond raw price tags. In this episode of The Economist Next Door, we dive into the gap between headline inflation numbers, consumer perception, and real purchasing power. Joined by economists Dr. Anne Bradley (The Fund for American Studies / Institute for World Politics) and Peter C. Earle (AIER), the discussion re-frames how we measure well-being, considering the actual labor hours required to purchase everyday goods. The group explores why humanity enjoys unprecedented long-term abundance, while consumers simultaneously feel intense pressure in housing, healthcare, transportation, and food.

Did the Decline of Community Create a Demand for Socialism?

What happens when families, churches, neighborhoods, and civic institutions begin to disappear? Economist Paul Mueller and political philosopher Luke Sheahan explore the ideas of Robert Nisbet, the overlooked thinker who warned that people deprived of meaningful community would drift toward loneliness, despair, or political fanaticism. From ancient Rome to the modern welfare state, this episode of The Economist Next Door examines why strong individuals require strong communities—and what we lose when the state replaces them.

Social Security Is in Serious Trouble: Can the Program Be Saved?

Social Security is facing a serious financial crisis. By 2032, the program's trust fund is projected to be depleted, triggering automatic benefit reductions unless Congress acts. But the problem runs deeper than a looming funding shortfall. Social Security was built for a different era—one with more workers supporting fewer retirees and shorter retirement periods. In this episode of The Economist Next Door, Paul Mueller is joined by Dave Hebert, head of AIER's Economic Freedom Team, for a conversation about why Social Security is struggling, why many proposed fixes may only delay the problem, and what a fundamentally different approach to retirement might look like. They discuss the history of Social Security, the reality behind the trust fund, the challenges of raising taxes or adjusting retirement ages, and whether a system built around personal retirement accounts could provide a more sustainable path forward.

The Recession Story We Keep Getting Wrong

Recessions are often explained as the inevitable result of excess: too much borrowing, too much speculation, too much optimism, or some hidden imbalance waiting to be corrected. But what if that story is wrong? In this episode of The Economist Next Door, host Paul Mueller talks with Tyler Goodspeed, chief economist at ExxonMobil and author of Recession: The Real Reasons Economies Shrink and What to Do About It, along with AIER President Samuel Gregg, about what 300 years of economic history reveal about downturns. Goodspeed argues that recessions are not predictable corrections caused by the excesses of previous expansions. Instead, they are often triggered by unexpected shocks — from energy crises and natural disasters to financial disruptions — that interrupt economic activity. He explains why the historical record challenges the familiar boom-bust narrative and why recoveries, rather than expansions, are often the true correction. The conversation also explores why humans are drawn to stories of blame and punishment when economies falter. From the Great Depression to the 2008 financial crisis, policymakers and the public have often searched for villains and embraced narratives of moral failure. But those stories can lead to misguided interventions that prolong economic pain. Paul, Tyler, and Sam discuss what this perspective means for today's economy, including debates over AI, technological change, and fears of another boom-bust cycle. They examine why we are quick to identify the next economic villain — and why focusing on long-run growth, resilience, and human flourishing matters far more than trying to eliminate every downturn.

How Your Neighbors Are Using AI

Artificial intelligence is no longer a distant technology of the future—it is already reshaping how people work, learn, create, and solve problems. In this episode of The Economist Next Door, Paul Mueller explores the practical and philosophical questions surrounding AI with three guests — Jacob Mueller, co-founder of short-term rental management company Renjoy; Nicholas Roseveare, software engineer and developer at Revenue Solutions; and Tanner Thetford, pastor at First Baptist Church of Leadville — who are actively using these tools in their work and daily lives. The conversation goes beyond productivity gains to examine deeper questions about how humans should use AI. Like every powerful tool, the question is not simply whether we use it, but how we use it.