Is Economic Anxiety Driving People to Socialism?

This week, editors Peter Suderman, Katherine Mangu-Ward, Nick Gillespie, and Matt Welch dig into the disconnect between strong Black Friday spending and a public mood shaped by rising costs, economic anxiety, and slipping approval numbers for President Donald Trump. They explore why so many Americans feel poorer despite higher overall wealth, how regulation and subsidies have distorted key markets like housing and health care, and what to make of polling that shows young voters warming to democratic socialism.

The conversation then turns to the war crime allegations against Defense Secretary Pete Hegseth, who allegedly gave the orders to “kill everybody” on Venezuelan boat strikes that resulted in the killing of survivors, and what limits actually exist on the use of military force. The editors also examine a new federal ban on hemp products and the damage it could inflict on a growing legal industry. A listener asks whether recent Immigration and Customs Enforcement (ICE) actions signal a troubling erosion of constitutional protections, and the group takes time to reflect on the legacy of playwright Tom Stoppard and his long association with free speech and small government ideals.

Join us this Thursday, December 4, at 2:30 p.m. ET for a special live edition of The Reason Roundtable as part of our annual webathon. Send your questions for the Reason editors to podcasts@reason.com with “Webathon” in the subject line.

Watch at: https://www.youtube.com/watch?v=yaOOdtJqzmY

0:00—Economic anxiety and standards of living

18:45—War crime allegations against Hegseth

32:09—Federal hemp ban threatens industry

37:35—Listener question on ICE constitutionality

46:45—The legacy of Tom Stoppard

56:31—Weekly cultural recommendations

Mentioned in This Podcast

“Toplines – Heartland Nov 2025 Democratic Socialism,” by Rasmussen Reports

“New Low in U.S. ‘Very Satisfied’ With Personal Life,” by Gallup

“‘Kill Everybody,'” by Christian Britschgi

“Trump’s Venezuela Escalation Could Destroy MAGA, Warns Rand Paul,” by Jacob R. Swartz

“What Does Fentanyl Have to Do With Alleged Drug Boats 2,600 Miles Away? Absolutely Nothing,” by Tosin Akintola

“Trump Allegedly Misidentified a Colombian Fisherman as a Venezuelan ‘Narcoterrorist,'” by Jacob Sullum

“The Constitution Does Not Allow the President To Unilaterally Blow Suspected Drug Smugglers to Smithereens,” by Rand Paul

“They Built a Hemp Business in Good Faith but Washington Is About To Crush It,” by Brittany E. Hunter

“Trump vs. the Constitution,” by Damon Root

“5% of People Detained By ICE Have Violent Convictions, 73% No Convictions,” by David J. Bier

“Hot August Fright: The Month Republicans Lost Their Minds Over Immigration,” by Matt Welch

“How Lou Reed Inspired Anti-Communist Revolutionaries and the Rest of Us,” by Matt Welch

“Václav Havel’s Funeral: Why Truth Needs Love,” by Matt Welch

Upcoming Reason Events

Reason Versus debate: Big Tech Does More Good Than Harm, December 10

• Producer: Paul Alexander
• Video Editor: Ian Keyser