Should the Pope Speak on Economics -Dr. Julia Norgaard | #172
S01:E172

Should the Pope Speak on Economics -Dr. Julia Norgaard | #172

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Episode description

Julia Norgaard joins the Gwartney team this week to talk about the Pope and economics. Julia R. Norgaard received her Ph.D. from George Mason University where she was a Ph.D. fellow at the Mercatus Center and a graduate lecturer. In 2015, she received her master's degree in economics from George Mason University. Dr. Norgaard received her BA in economics with a minor in mathematics from the University of San Diego in 2012. Her interests include applied microeconomics and political economy as well as law and economics and development. Dr. Norgaard created and currently runs both the PEP Talks Research Seminar and the Economics Reading Group. She has a passion for both research and teaching economics. We really enjoyed this show and look forward to another show with Julia in the future. Enjoy the show! 


Timeline:

The Pope knows his Econ - 1:00

There is no official training - 4:15

Popes Influenced from their backgrounds - 5:15

Pope Francis is less friendly to free markets - 7:40

Can't escape words out of the mouth - 8:15

Pope is 'American' - 11:30

Culture's effect? - 15:45 

Some specific views - 17:30

It's important for the Pope to be in the discussion - 20:30

Are Pope's leading social trends - 24:30

What is Ex Cathedra? - 25:15

Shook it up - 32:00


The “Faith in Economics” podcast, produced by the Gwartney Institute at Ottawa University, explores the intersection of faith and economics as a means to aid human flourishing. In the episode, host Cole McRae converses with Dr. Russ McCullough, Dr. Justin Clark, and Dr. Peter Jacobson regarding recent developments in U.S. government efficiency efforts, particularly focusing on controversial figures like Elon Musk and initiatives like “Doge.” The panel discusses the idea of a “Doge dividend,” a proposed initiative where savings from government spending cuts would be returned to citizens in the form of checks, reminiscent of COVID stimulus checks, aiming to offer approximately $5,000 per American based on 20% of the budget cuts achieved.

The conversation emphasizes the need to restructure government expenditure and addresses the complexities of executing cuts responsibly, likening it to a surgical operation that inevitably removes some healthy aspects along with the waste. Dr. Jacobson and Dr. Clark express support for the dividend proposal, highlighting its potential to politically empower citizens and counter the narrative that tax cuts benefit only the wealthy. The economists advocate for a more significant percentage than 20% for dividends to encourage public awareness and engagement with government spending.

Diverse views regarding balancing the national budget and addressing the national debt also emerge. While Dr. Clark argues the importance of immediate compensation for spending cuts to bolster political will, Dr. Jacobson counters that the method whether through dividends or future tax cuts won’t ultimately impact debt responsibility. This lively discourse illustrates the nuanced relationship between government efficiency, fiscal policy, and citizen engagement, advocating for a systematic change that could reshape economic conditions while benefiting ordinary Americans through incentivized spending cuts. The episode concludes with reflections on the broader implications of the proposed Doge dividend amidst ongoing discussions about government deficits and accountability in spending.