This is the Libertarian Podcast from the Hoover Institution.

I'm your host Tom Church and I'm joined by the Libertarian Professor Richard Epstein.

Richard is the Peter and Kirsten Bedford Senior Fellow here at the Hoover Institution.

He's the Lawrence A Tish Professor of Law at NYU,

and is a senior lecturer at the University of Chicago.

Now Richard, last week at the first GOP debate, the first question asked to the candidates was about so-called

Bidenomics. Coincidentally, you would just written a column about Biden's economic record,

and I'd like to discuss it with you starting with this question. Is there anything

actually distinctive about Biden's economic policy or are we just putting his name

on the classic economics word that everyone likes to combine?

No, I think there's something which is distinctive.

He's using the term to contrast himself with the notion of neoclassical economics is practiced by people like myself who start to believe that supply and demand and market forces are in general the dominant way in which you ought to organize a society.

He doesn't believe that.

If you recall when he first came into office, he said, Milton Friedman doesn't walk with the

streets of the White House anymore. I'm in charge of

this place. The odd thing about it was that he kind of implied that you know second

rate minds like Milton Friedman can't take over this sort of stuff when

first rate minds like me and my various supports that are really in the running.

So I think he really meant to do this.

I also think, by the way, it's fair to say that he is taking whatever it is that Barack Obama had done and rapid it up another notch

and beyond the beat, what everything else had happened before.

Obama was certainly a progressive, but I don't think he would have done the kinds of things that

...