Why are gas prices so high—and why does it feel like they never come back down? In this episode of Happy Hour Econ, comedian Lou Perez and economist Phil Magness break down the real reasons behind rising gas prices, from global oil supply shocks to foreign policy chaos and everything in between.

With humor and sharp economic insight, they explore how events like conflict in the Middle East, disruptions in the Strait of Hormuz, and instability in oil-producing countries like Venezuela can send shockwaves straight to your local gas pump. You’ll also learn why gas prices vary by region, how taxes and regulations impact what you pay, and why the U.S. can’t just “become energy independent” overnight.

Welcome to Happy Hour Econ from Free To Choose Network, where comedian Lou Perez and economist Phil Magness serve up weekly shots of economic reality with a chaser of sanity.

No PowerPoints, no pretense—just two guys who've figured out that the best way to understand why everything costs more is to stop taking it so seriously.

Pour yourself a drink, pull up a stool, and join Happy Hour Econ—because understanding the economy shouldn’t require a Ph.D. or a hangover.

In this episode of Happy Hour Econ, comedian Lou Perez and economist Phil Magness walk into a bar… and accidentally start a 25-minute debate about socialism. Oops.

With the Democratic Socialists of America hitting 100,000 members and socialism suddenly trending with younger generations, Lou asks the obvious question: Why?

The conversation also touches on socialism vs capitalism, the role of markets in allocating resources, and how political decision-making could affect everyday life—yes, even something as simple as buying a PlayStation 5. From historical lessons about shortages and central planning to the debate over whether socialism promises equality or delivers inefficiency, Lou and Phil break it all down with humor and insight.

Topics covered:

· Democratic Socialists of America (DSA)

· Socialism vs capitalism

· Why socialism is gaining popularity among young people

· Scandinavian economic models and the “Nordic myth”

· Venezuela, Cuba, and historical socialist regimes

· Central planning, shortages, and economic incentives

If you enjoy discussions about economics, politics, and history—with a comedic twist—this episode of Happy Hour Econ is for you. 🍻

Welcome to Happy Hour Econ from Free To Choose Network, where comedian Lou Perez and economist Phil Magness serve up weekly shots of economic reality with a chaser of sanity.

No PowerPoints, no pretense—just two guys who've figured out that the best way to understand why everything costs more is to stop taking it so seriously.

Pour yourself a drink, pull up a stool, and join Happy Hour Econ—because understanding the economy shouldn’t require a Ph.D. or a hangover.