Capital Record

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Oct 2026

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About the show

American prosperity was built on a foundation of free markets and free people. But, with inflation on the rise and a struggling market, many in America’s political class are attempting to recycle failed socialist ideas and calling for government intervention in nearly every aspect of American life. In this National Review Capital Matters podcast, presented by the National Review Institute, financier David Bahnsen hosts interviews with the nation’s top business leaders, entrepreneurs, and financial commentators. Tune in to hear guests such as Larry Kudlow, Steve Forbes, and Art Laffer present a practical and moral vindication of America’s capitalist way of life.

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10 recent

October 13, 202615 min

Episode 328: The Crisis of Responsibility on the Right

Whether it is woke-right groypers or “conservative” media pundits like Steve Deace who are supposed to know better, a movement is afoot to say that Gen-Z white men have been dealt a bad hand—and a spirit of victimhood is the way to reckon with it. But a free and virtuous society is not built by asking a politician to keep you off porn, and it is not built by blaming others for your problems. This episode of Capital Record is ground zero for how we think about society, and how we think of our own peace, joy, and opportunity within it. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

October 6, 20265 min

Episode 327: You Have to Earn It, Baby!

Today’s short Capital Record is a simple refresher on the difference between capital formation and capital allocation, and why entrepreneurs bemoaning the challenges of having capital allocated to them get it all wrong. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

October 1, 202620 min

Episode 326: The American Dream, Human Flourishing, and The Bahnsen Group

Those who hate the financial sector and demonize the activity of capital markets will never understand that beneath it all is the story of the human spirit. Dealing with the aspirations embedded in financial markets has to be avoided, because it gets in the way of their narrative of grievance and victimhood. On today’s Capital Record , David has a highly personal story to tell that gets to the essence of all of this. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

September 29, 202612 min

Episode 325: Being Trained to Be an Entrepreneur... by the Government??

The United States federal government currently has an aggressive agenda, and it has now added to its portfolio… training workers in technology, energy, and defense. Several universities are creating the materials, and the government is organizing the national training program known as the Foundry School. Is this the retraining and investment in work-and-business dynamism we have been waiting for, or is it another government overreach where inexperienced bureaucrats are way out of their lane, feeling good about saying the right things? A balanced and nuanced discussion in today’s Capital Record. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

September 24, 202617 min

Episode 324: A Choice, Not a Socialist Echo

We are living in a period when the greatest political opportunity I have ever seen for either party is being squandered. For the Democrats, it is understandable. For the Republicans, it is unforgivable. In today’s Capital Record , David looks at this current moment, where true conservatives have a chance to present an actual contrast – a choice – to the left-wing socialist nonsense of our day. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

September 22, 202613 min

Episode 323: No One is a Libertarian Now

One of the craziest things that has worked its way into the folklore of our age is that the new-found appreciation for a heavy role of government in our personal and economic lives is replacing what was previously this broad moment of “libertarianism,” wherein society ran off of a very limited role of government in matters of economic regulation. Not only did I miss the memo on when that period was to have taken place, but today, some of yesterday’s loudest proponents of a small government are actually screaming for the government to tell you what you can eat. My, how the tea party has fallen. Come tread on me, in today’s Capital Record . Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

September 15, 202614 min

Episode 322: AI Is Slowing Down to Find Itself

The internet and social media were aghast over the weekend as Anthropic founder and CEO Dario Amodei penned a “Jerry Maguire” screed about the AI labs “slowing down” due to the risks of “losing control” and giving way to “bioterrorism” and “serious economic disruption” … Other AI lab heads from Sam Altman to Elon Musk chimed in with agreement. You may read his letter as a call for prudent, selfless moderation, or you may read his call as rent-seeking, cronyist, "pull the ladder up" corporatism at its worst. Today, we will unpack it all. Show Notes: Dario Amodei's Letter David Sacks' Response Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

September 10, 202625 min

Episode 321: Subsidies for Child Care?

Vice President JD Vance and a few other folks on the right beat the drum this weekend for a new bill to pay married families with one stay-at-home spouse based on the number of kids they have. Some people on the right defend the bill as “pro-family.” Others on the right lambaste it for being “pro-welfare state.” Some claim it merely redirects funds already in circulation. Others claim it represents a new entitlement altogether and that the bill is a classic case of “right-wing dressing” on top of a “left-wing salad.” In today’s Capital Record , David calls a spade a spade – which is to say, he takes this awful anti-family, pro-welfare, statist idea to the woodshed. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

September 8, 202611 min

Episode 320: Gratitude for Higher Football Costs

A “consultant” was on TV last week in a panic over the cost of watching NFL games now, not to mention the utter horror of finding out which streaming network your game might be on. The greed and debauchery of “big football” are on full display as far as many are concerned, but one group stands out as not being concerned at all: those who actually watch the NFL. And there is something else being missed when people complain about the cost of watching the NFL, something even more obvious than the fact that NFL fans love it. Listen to today’s Capital Record for a test case in basic economics that even a punter could understand. Show Notes: Fox Business Video Clip Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

September 1, 202616 min

Episode 319: Uncle Sam, The Oil Tycoon

It was announced over the weekend that the United States is taking a 35 percent stake in a private energy company connected to Venezuelan oil rights. Is this “U.S. government in private business” thing getting out of control, or is the United States government a natural business partner in the Venezuelan oil production market? In today’s Capital Record, David will unpack the good, bad, and ugly of this deal, and ask us if our first principles endorse these public-private partnerships, or if they should cause us concern. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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