Episode 66 – Monetary Mayhem with Joseph Sternberg
Saving Elephants | Millennials defending & expressing conservative values
Release Date: 08/25/2020
Saving Elephants | Millennials defending & expressing conservative values
In 1953 a little-known political theorist Russell Kirk repurposed his doctoral dissertation as a book for publication. His book, The Conservative Mind, would quickly become a bestseller, give the nascent conservative movement its name and intellectual moorings, be reviewed and debated in respectable publications across the country, and launch its author to international fame. Seventy years later, the book is still going strong. Now on its seventh edition and reprinted in multiple languages, The Conservative Mind is among the indispensable tomes for understanding the...
info_outlineSaving Elephants | Millennials defending & expressing conservative values
While Leo Strauss was famous for influencing men and women who became intellectual heavyweights in the conservative movement—names like Allan Bloom, Irving Kristol, Harvey Mansfield, Thomas Pangle barely scratch the surface—few stand as tall as Harry Jaffa. A cantankerous and quarrelsome debater to some and a beloved architect of restoring conservatism to a more American-focused and principled-based approach to others, Jaffa lived a remarkably long and productive life. His writings persuaded William F. Buckley, Jr. away from a more sympathetically Southern conservatism and,...
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Everyone supports civility, in theory, when the “other side” is behaving themselves. But what is the role of civility in an era of growing political division? Is civility a weakness that can be exploited by our political opponents? Is it simply being well-mannered and exceedingly nice, or is there more to it? Those are the very questions Alexandra Hudson set out to answer in her new book, . Alexandra joins Saving Elephants host Josh Lewis to unpackage how civility holds the timeless answers for humanity’s timeless struggle with living alongside the “other...
info_outlineSaving Elephants | Millennials defending & expressing conservative values
The name Edmund Burke is used quite liberally on the Saving Elephants podcast as host Josh Lewis makes no bones about being a “Burkean” conservative. But who was this Irish statesman, economist, and philosopher? What were his contributions to conservative thought? Why does Josh hold him in such high regard? And why do some conservatives argue there’s no place for Burke in conservatism? Rather than inviting one guest to tackle these pressing questions, Josh explores the various conversations had on the podcast with past guests about Burke to help us navigate...
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The United States and United Kingdom have enjoyed and, at times, endured a symbiotic history, culture, politics, and global relationship. Often understanding the quirks of one nation helps us better understand our own. Sarah Stook, journalist of American politics and history, joins Saving Elephants host Josh Lewis to discuss what Americans and Brits can learn from one another, what unique challenges face young, British conservatives, the importance of the British monarch, and whether American politics looks as off-the-rails from an outsider’s perspective as it does from those...
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“History offers not simply a chronicle of events but, more importantly, opportunities to gain insights about the human condition from the experience of other times and places,” writes Thomas Sowell in his provocatively titled book . “That is, it offers not merely facts but explanations.” Yet history’s capacity to benefit us is naturally limited by our natural biases. “History cannot be a reality check for visions when history is itself shaped by visions.” To learn how to extract beneficial explanations from history, therefore, we must first learn how to...
info_outlineSaving Elephants | Millennials defending & expressing conservative values
Christian or not, it’s undeniable that Western civilization, and the United States in particular, has deep historical roots in Judeo-Christian teachings. Scripture has shaped much of our culture, thought, values, and politics. But while plenty of Biblical passages appear to have political implications, there’s little consensus among the general population—to say nothing of the religiously devoted—what a political worldview based on the Bible should look like. Saving Elephants host Josh Lewis continues his conversation with Jonathan Cole on the topic of political...
info_outlineSaving Elephants | Millennials defending & expressing conservative values
“I never discuss anything else except politics and religion,” English writer, philosopher, and Christian apologist G. K. Chesterton once quipped. “There is nothing else to discuss.” For some sensible, genteel Americans, politics and religion are precisely what you don’t discuss in public and—perhaps even—in private company. Others discuss both with ease yet may have trouble thinking through what their politics might say about their religion, or how their religion ought to inform their politics. The discipline of political theology specializes in studying...
info_outlineSaving Elephants | Millennials defending & expressing conservative values
Modern views on how future technology is likely to change our lives range from bloviatingly aspirational visions of utopia to musings on whether the latest advancement in AI will destroy humankind in our lifetime or merely enslave us all in Matrix-style battery capillaries. Yet debates on whether technology is a neutral tool for our benefit or a near-unstoppable force leading us to a particular destiny are nothing new. In 1964, French philosopher and sociologist Jacques Ellul wrote , in which he argued technology had a totalizing effect that could potentially dehumanize our world...
info_outlineSaving Elephants | Millennials defending & expressing conservative values
In the aftermath of the Civil War and prior to the first World War lies an often overlooked era in American history known as the Gilded Age. This was an extraordinarily “messy” period where it’s often difficult to identify the heroes to extol or villains to condemn. But it is also a period that has unusually similar parallels to our own times from rapid technological advancements, growing partisanship, and the unraveling of communities and traditions. We might benefit from a closer understanding of the lessons learned in this messy period. Saving Elephants host...
info_outlineStephanie Kelton’s book The Deficit Myth released in June was just the latest in a series of books, blogs, articles, podcasts, and videos extoling the virtue of Modern Monetary Theory (or “MMT”). We’re told that governments that have sovereignty over their currency can afford a wide array of social programs from entitlement expansion to generous welfare benefits to the Green New Deal. Leftist are ecstatic that they finally have an answer to the Right’s persistent question “how are you going to pay for all this stuff?”
But is MMT sound monetary policy? For that matter, what is monetary policy? What did famous economists like Milton Friedman and John Maynard Keynes have to say about monetary policy? Was it a mistake for America to get off the gold standard? What is the Federal Reserve, and why can’t they seem to leave the interest rate alone? Do deficits matter? If so, how?
For most, monetary policy may sound like a subject that’s dreadfully complicated or—far worse—boring. Yet this opaque subject matter is very important to our economic wellbeing. In fact, bad monetary policy greatly exacerbated economic downturns to the point of creating The Great Depression and The Great Recession. Sound monetary policy benefits us all, and it’s imperative we understand what sound—and not so sound—monetary policy looks like.
Returning guest and friend to the podcast Joseph Sternberg joins Josh in a discussion on monetary policy that’s both digestible and engaging. We last heard from Joseph in episode 35 when he dropped by to discuss his book The Theft of a Decade: How the Baby Boomers Stole the Millennials’ Economic Future.
Joseph is a member of the editorial board of The Wall Street Journal, where he writes the Political Economics column. He joined the Journal in 2006 as an editorial writer in Hong Kong, where he also edited the Business Asia column. He currently lives in London. He graduated from The College of William and Mary in Williamsburg, Virginia with an economics major.