Qualified Opinions

Roundtable: Tariffs, Populist Handouts, and the AI Safety Panic

In a special edition of Qualified Opinions, host Veronique de Rugy hosts an insider roundtable discussion featuring three AIER scholars: David Hebert (Director of Economics and Economic Freedom), Julia Cartwright (Senior Research Fellow in Law and Economics), and Thomas Savidge (Research Fellow) . Together, the panel tackles three pressing geopolitical and economic developments : Canada's European Pivot: How tariff threats, trade tension, and rhetoric from Washington are driving Canada to explore an unprecedented "associate membership" with the European Union . The New Era of Populist Handouts: An analysis of high-dollar political promises—from a proposed $5,000 citizen dividend to $9,000 stay-at-home child subsidies—and how populist policy is blurring the traditional lines between the political left and right . AI Panics and Regulatory Capture: A critical look at recent doomsday warnings from tech whistleblowers and industry CEOs calling for AI regulation, exploring whether "pacing" innovation is genuine risk mitigation or a classic move to entrench market leaders against open-source rivals . The episode wraps up with recommended reading from across the institute on central bank independence, international commerce, Gen Z spending habits, and inflation .

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Why the Right Forgot Its Own Best Arguments

Stephanie Slade, senior editor at Reason, joins Veronique de Rugy to discuss her new book Fusionism: Liberty, Virtue, and the Future of the American Right. Fusionism isn't a coalition strategy. It's the argument that liberty and virtue need each other — that coerced virtue isn't virtue at all, and that a free society depends on people who can govern themselves. Slade traces the idea from the founding through Hayek, Russell Kirk, and Frank Meyer, and explains how a movement that once took it for granted raised a generation that has never encountered the arguments. They discuss why young people are looking for answers about the good life and where they're finding them, why the new right turned against markets, whether the culture of free speech can survive its current stress test, and what a recovery would actually require.

The House Always Wins: Roger Bate on Sports Betting, Addiction, and the Fauci Reckoning

Roger Bate joins Veronique de Rugy to discuss his new book, The House Always Wins, sharing his personal brush with sports betting addiction and what it reveals about the industry's explosive growth, corruption risks, and need for smart regulation. They close with a candid look at Fauci and COVID policy accountability.

Rethinking Unions, Bipartisanship, and Opportunity for the Bottom 50%

In this episode of Qualified Opinions, host Veronique de Rugy welcomes Akash Chougule, President of the Foundation for Research on Equal Opportunity (FREOPP), to explore how classical liberal ideas can drive real economic mobility for lower-income Americans. Akash breaks down FREOPP's unique mission—applying free-market principles specifically to uplift the bottom half of the socioeconomic ladder—and explains why lasting policy reform requires genuine bipartisan coalition building. They examine the recent deregulation of housing supply as a blueprint for legislative success before taking a deep dive into the state of organized labor in 21st-century America.

Why Postliberalism Failed: What History Reveals About the Movement's Risks

Veronique de Rugy speaks with Thomas Howes and James Patterson about their book, Why Postliberalism Failed. The authors examine the growing post-liberal movement, particularly Catholic integralism, which rejects representative government and religious neutrality in favor of a powerful executive guided by a state-supported conception of the common good. Drawing on examples from interwar Europe and Latin America—including Franco's Spain, Salazar's Portugal, Vichy France, Slovakia, Croatia, Brazil, and Argentina—they argue that these ideas have already been tested. Rather than restoring religious faith or social order, post-liberal regimes became authoritarian, persecuted minorities, and compromised the churches that supported them. Political leaders used religious institutions for legitimacy while steadily subordinating them to the state, ultimately contributing to religious disaffiliation. The conversation also explores postliberalism's influence on today's American right, its relationship to protectionism and Christian nationalism, and its failure to resist antisemitism within its broader coalition. Howes and Patterson conclude that religious communities would achieve more through liberal institutions—religious liberty, limited government, school choice, and voluntary association—than by attempting to capture the power of the state.

Is Inequality A Problem?

Welcome back to Qualified Opinions. This week, we tackle the revived debate on redistribution versus growth following the release of the 2026 World Inequality Report. To help us slice through the noise, we sit down with Dr. Phil Magness (Independence Institute) and Dr. Vincent Geloso (George Mason University). Together, they expose the flaws in contemporary inequality metrics, discuss how robust institutions and open markets destroy barriers to upward mobility, and explain why a country's institutional health matters far more than its wealth distribution.

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Blood and Progress: Unmasking a Century of Left-Wing Violence with Noah Rothman

"The issue is never the issue—the issue is the revolution." When we talk about political violence in America, the public conversation is overwhelmingly dominated by the threat of the far-right. But is that tracking the whole reality? In this episode, Veronique de Rugy sits down with author and commentator Noah Rothman to discuss his new book, Blood and Progress: A Century of Left-Wing Violence in America. Noah breaks down the three massive historical waves of left-wing extremism that most Americans have completely forgotten—from the deadly anarchist bombings of the 1910s and 1920s to the thousands of domestic bombings in the 1970s. Together, Vero and Noah explore the excuses that politicians and media figures use to excuse left-wing violence, the manipulation of domestic extremism databases, and the dangerous modern mirroring where the right and left are beginning to adopt each other's most radical tactics. It's a candid, data-driven look at why political violence is a reciprocal problem—and why looking away from one side only guarantees the other will follow.

Government Illusions, Free-Market Realities, and the Truth About "Waste, Fraud, and Abuse" with Matt Mayer

What happens when a fiscal watchdog and a government official start as fierce public rivals and end up as friends? In this episode of Qualified Opinions, host Veronique de Rugy sits down with her long-time friend Matt Mayer—former Bush administration Homeland Security official and current President of Opportunity Ohio—to dissect the massive disconnect between bureaucratic intent and real-world policy outcomes. They pull back the curtain on why simple government formulas fail to allocate security grants efficiently and share a candid look at the nuance behind infamous government spending anecdotes (like the $10,000 jet toilet and the 9/11 garbage trucks). Moving to current policy debates, they tackle the exploding costs of state programs like Medicaid in historically "red" states like Ohio. Mayer argues that the standard political battle cry of rooting out "waste, fraud, and abuse" is a lazy soundbite; the real fiscal driver is the aggressive expansion of legal eligibility standards pushed by politicians who lack the courage to make tough choices. Finally, they discuss Mayer's new experiment in tech and fiction: writing his fifth book, an action-packed novel titled The Architect Rises, using generative AI to turn a decade-old national security war-game plot into a full-length book in under eight minutes.

Horseshoe Theory at the FTC: Regulation, Mergers, and the Future of Antitrust

Host Veronique De Rugy is joined by Jessica Melugin, Director of the Center for Technology and Innovation at the Competitive Enterprise Institute, for a deep dive into the shifting landscape of the Federal Trade Commission (FTC). The conversation explores: The Legacy of Lina Khan: How the Biden-era FTC expanded merger filing rules (HSR Act) to increase compliance burdens, and why a Texas federal court recently struck them down. The Horseshoe (or "Shoe Horse"?) Theory: A discussion on the surprising ideological overlap between the populist left and populist right, specifically regarding "America First" antitrust policies and increased government intervention. A Changing Commission: An analysis of current FTC Chair Ferguson, his ties to Vice President JD Vance, and the agency's unprecedented level of direct White House influence. Constitutional Shifts: The impact of recent Supreme Court decisions like Loper Bright (overturning Chevron deference) and the ongoing debate over the President's power to fire independent agency commissioners at will.

Recovering the Soul of Liberalism

Vero is joined by colleagues Rebecca Lowe, a political philosopher, and Henry Oliver, a literary critic, to discuss their new project, The Pursuit of Liberalism. While the liberal order—built on free markets, free speech, and the rule of law—has delivered more for human flourishing than any other system, many feel it is currently "losing the argument". The trio explores whether this is because the defense of liberalism has been narrowed down to economics and legal theory, neglecting the deeper questions of meaning, dignity, and the human soul. Key topics discussed include: The "Vibe Contest": Why liberalism often sounds "stuffy and old-fashioned" compared to the rising influence of post-liberal and "New Right" movements. The Legacy of Adam Smith: A debate on whether Smith was a better economist or philosopher, and how his original breadth of thought (covering everything from astronomy to moral sentiments) has been lost to modern academic specialization. Specialists vs. Generalists: The costs of over-specialization in economics and why we need more thinkers who can bridge the gap between policy and culture. Pluralism and Choice: Drawing on Isaiah Berlin's idea that there are many "good" ways to live and that liberalism's true value lies in the freedom to choose between them. The Future of Freedom: Why politics is downstream of culture and the challenge of passing liberal values on to a new generation. About the Guests: Rebecca Lowe is a political philosopher and Henry Oliver is a literary critic. Both are based at the Mercatus Center and are the founders of the Substack project, The Pursuit of Liberalism.

Navigating Trade, National Security, and the Real Costs of Protectionism

In this episode, Vero De Rugy sits down with Paul Mueller and Dave Hebert, senior research fellows at AIER, to discuss trade and national security. The conversation dives deep into the complex—and often manipulated—tension between market efficiency and national defense. While free traders acknowledge legitimate security exceptions, the trio explores how "national security" is frequently used as a pretext for protectionist policies that come with a steep, often hidden, economic price tag. Key highlights of the discussion include: Vigilante Justice on the World Stage: Paul and Dave discuss their "Batman" analogy for current trade policy—exploring the consequences of bypassing international norms like the WTO to "dole out justice" through unilateral tariffs. The China Dilemma: A look at whether "decoupling" from the Chinese economy is a realistic goal or a demographic and logistical impossibility. The Net Assessment of the Current Administration: Vero proposes a provocative theory: Could the "background" wins in energy deregulation, AI framework, and crypto policy outweigh the "foreground" chaos of trade wars and market uncertainty? The Cost of Credibility: Why market uncertainty and capricious policy shifts might be more damaging to long-term growth than the actual tariffs themselves. Whether you are interested in the granular details of the WTO enforcement mechanisms or the broader philosophical questions of individualism versus the new collectivism, this episode offers a candid look at the trade-offs required for American prosperity in a globalized world.

The Social Security "Lockbox" Myth with Romina Boccia

As Social Security approaches its 90th anniversary, the program faces a looming identity crisis and a massive fiscal deadline. In this episode, host Veronique De Rugy sits down with Romina Boccia, Director of Budget and Entitlement Policy at the Cato Institute and co-author of Reimagining Social Security: Global Lessons for Retirement Policy Changes. Together, they dismantle the most persistent myths surrounding the U.S. retirement system, from the "lockbox" illusion to the reality of the 2032 trust fund depletion. Romina explains why a program designed in the era of the Great Depression is struggling to keep pace with modern capital markets and 21st-century life expectancy. Key topics discussed in this episode include: The Pay-As-You-Go Reality: Why 1 in 4 Americans believe they have a personal account, and the truth about intergovernmental IOUs. The 2032 Deadline: How recent legislative changes have accelerated the timeline for automatic benefit cuts. Lessons from Abroad: How countries like Sweden and Canada successfully modernized their systems by leaning into private accounts and flexible savings. Universal Savings Accounts (USAs): A proposal to fix the "double taxation" on savings and empower lower-income workers without the sting of early withdrawal penalties. This conversation offers a candid look at how we can move beyond "tweaks" to build a more secure financial future.

Modern Diplomacy and French Political Thought with Luke Foster

In this episode, Veronique de Rugy and Luke Foster peel back the layers of the "French political soul," and explore the intellectual roots of the Franco-American relationship. Foster, a professor and co-founder of Academia Tocqueville, argues that Tocqueville's emphasis on civil society as a check on central power remains the ultimate diagnostic tool for modern governance. De Rugy and Foster also discuss the high stakes of 21st-century geopolitics, centered on Foster's recent critique of the NATO alliance, "We Need Friends, Not Flatterers." They dissect the Gaullist concept of strategic autonomy, questioning whether the American security umbrella has inadvertently stunted European state capacity and led to a "crowding out" of defense spending by the welfare state. From France's nuclear grid to the surprising efficiency of its fiscal bureaucracy, De Rugy and Foster challenge the assumption that the American model is always more efficient, ultimately calling for a partnership built on honest realism rather than convenient dependence.

A Travesty of Economic Ignorance with Peter Boettke

Host Veronique De Rugy is joined by Peter Boettke to discuss his recent work on the "marvel" of the market and why modern economics has lost its way. Centered on F.A. Hayek's landmark essay, The Use of Knowledge in Society, this episode explores how prices serve as a vital vehicle for learning and coordination that no top-down planner can replicate. They discuss the transition of economics from a tool for "social understanding" to a failed instrument of "social control" and the dangerous consequences of treating economic science like "social physics".

Total Boomer Luxury Communism

This episode of Qualified Opinions features a provocative discussion with Russ Greene on the topic of "Total Boomer Luxury Communism." It's a system where wealth is systematically transferred from younger, less affluent generations to the most prosperous cohort in US history through entitlement programs such as Social Security and Medicare. Vera and Russ dive into the structural unfairness of age-based benefits, explaining how the pay-as-you-go system, coupled with misleading "property rights" language, burdens current workers with debt, inflation, and a compounding housing crisis—all to sustain benefits for seniors, regardless of their net worth. Discover the hidden mechanics behind this intergenerational transfer and why many Americans are shocked by the reality of these programs.

What's So Great About Fed Independence?

Dive into a provocative discussion with host Veronique De Rugy, John Cochrane, author of The Fiscal Theory of the Price Level, and Tom Hoenig, a Distinguished Senior Fellow at the Mercatus Center at George Mason University. Veronique and guests challenge the notion of Federal Reserve independence, arguing that independence is not an absolute virtue, but a limited grant tied to obeying strict rules—namely, sticking to inflation and employment. They explore the history of independence, arguing its true purpose is a pre-commitment against the temptation to print money to monetize government deficits. You'll hear why restoring the Fed's limited mandate may be more crucial than its independence alone. Hoenig and Cochrane provide a crucial historical perspective, detailing how the Fed has "failed in many ways and exceeded its authority." Hoenig argues the Fed violated its primary mandate by effectively monetizing massive government debt through quantitative easing and keeping interest rates at zero, enabling increased fiscal spending and resulting in widespread inflation (including asset inflation). The episode draws parallels to the 1951 Fed-Treasury Accord as a past example of reestablishing boundaries. Learn how the current refusal of the Fed leadership to address fiscal policy and the deficit echoes a dangerous pattern, and why the solution must come from Congress being crystal clear about the Fed's limited role.

IEPA, Tariffs, and the Future of Executive Power with Donald J. Boudreaux & Scott Lincicome

As the Supreme Court reviews one of the most consequential economic and constitutional cases in decades, questions loom over how the president can wield emergency powers to reshape trade policy. At the center of this debate is the International Emergency Economic Powers Act (IEPA) and its use by President Trump to impose tariffs. Today, Veronique sits down with Donald J. Boudreaux, Senior Fellow at the Mercatus Center and economics professor at George Mason University, and Scott Lincicome, Vice President of General Economics at the Cato Institute and adjunct professor at Duke Law School. Together, they explore what is truly at stake: not only the future of U.S. trade policy, but the balance of power between Congress and the executive branch.

Supply and Demand Still Answers Many Policy Questions

Today, Brian Albrecht joins Qualified Opinions to discuss his recent writings on tariffs, why economists find them uniquely frustrating, and how simple supply and demand principle still does a remarkable job at predicting the effects of policies. Brian Albrecht is the Chief Economist at the International Center for Law & Economics.

The Fight Against Graduate Unions with Jon Hartley

Graduate student unions are on the rise, and they're not like the workers' unions of the 1950s and 1960s—they are something all their own. At the heart of these unions sit many of the issues sending our universities into decay: social justice activism, radical politics, and woke culture. Jon Hartley joins to discuss the battle against these institutions. Jon Hartley is an economist specializing in finance, labor economics, and macroeconomics. He is currently a Policy Fellow at the Hoover Institution, an economics PhD Candidate at Stanford University, a Research Fellow at the UT-Austin Civitas Institute, and an Affiliated Scholar at the Mercatus Center. Jon is also the host of the Capitalism and Freedom in the 21st Century Podcast, an official podcast of the Hoover Institution

The Triumph of Economic Freedom

Free market ideas are waning on both sides of the aisle in modern American politics, but the justifications for this sit on shaky ground. In The Triumph of Economic Freedom, Donald Boudreaux and Phil Gramm debunk seven economic myths about American Capitalism. Donald Boudreaux joins the show today to discuss. Donald Boudreaux is a Senior Fellow at the Mercatus Center, Professor of Economics at George Mason University, and one of the most compelling public defenders of free market principles.