Are wealthy people getting wealthier because they work harder? Dr. Jonathan Newman is back on the show to discuss Robert Reich’s latest videos about debunking economic myths.

Robert Reich incorrectly blames the free market when businesses act on incentives provided by the government. He condenses this information into short, impactful videos for his audience. However, most of what Reich talks about isn’t really economics. And when he does discuss economics, he relies on flawed assumptions that have been meticulously refuted over the past century. Bob and Dr. Newman dissect the misconceptions and provide some insights.

Robert Reich’s “Debunking Economic Myths” Episode 3: https://Mises.org/HAP455a
Robert Reich’s “Debunking Economic Myths” Episode 4: https://Mises.org/HAP455b
Dr. Newman’s Post on Reich’s Episode 5: https://Mises.org/HAP455c

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Chapters
00:00 Introduction
01:49 Do the Rich Work Harder than Everyone Else?
07:37 Labor and Compensation
12:43 Unearned Wealth
20:00 Inherited Wealth
33:20 Are Corporate Donations Free Speech?
44:27 Is This Even Economics?