Jonathan Hoenig on The Workings of Financial Markets
Radio Interview: 24 July 2013

I interviewed Jonathan Hoenig on "The Workings of Financial Markets" on 24 July 2013. Listen to or download this episode of Philosophy in Action Radio below.
Financial markets are often vilified – and misunderstood. How do financial markets work? What impact do they have on the economy? Are they dangerous – or beneficial? What is the government's current versus proper role in financial markets?
Jonathan Hoenig is portfolio manager at Capitalistpig Hedge Fund LLC. He appears regularly on Fox News.
Tags: Economics, Economy, Finance, Law, Politics, Productivity, Rights, Trade
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- Duration: 1:08:30
- Download: MP3 File (23.5 MB)
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About the Podcast 
- The nature and workings of financial markets
- About hedge funds
- The workings of trading
- The purpose of the markets
- The rationality of traders
- The basis of prices
- Traders as "speculators" and "greedy"
- The risk of markets
- Innovation in financial markets
- The hours of markets
- Labor theory of value and zero-sum trades
- Government regulations on financial markets
- The ban on advertising hedge funds
- The negative effects of regulations
- The ban on onion futures
- The financial crisis
- The proper role of the governments in financial markets
- Government regulations on price
- Limits on hedge fund investors
- Bitcoin
- "Greed Is Good: The Capitalist Pig Guide to Investing" and Ayn Rand
Relevant Links 
- The Objective Standard: Jonathan Hoenig and The Objective Standard--Lawbreakers No More:
- Institute for Justice: Taucher v. Born: IJ Defeats the Commodity Futures Trading Commission's Licensing of Internet & Software Publishers
- Capitalism: The Unknown Ideal by Ayn Rand
- Greed Is Good: The Capitalist Pig Guide to Investing
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About Philosophy in Action
I'm Dr. Diana Brickell (formerly Diana Hsieh). I'm a philosopher, and I've long specialized in the application of rational principles to the challenges of real life. I completed my Ph.D in philosophy from the University of Colorado at Boulder in 2009. I retired from work as a public intellectual in 2015.
From September 2009 to September 2015, I produced a radio show and podcast, Philosophy in Action Radio. In the primary show, my co-host Greg Perkins and I answered questions applying rational principles to the challenges of real life. We broadcast live over the internet on Sunday mornings.
You can listen to these 362 podcasts by subscribing to the Podcast RSS Feed. You can also peruse the podcast archive, where episodes and questions are sorted by date and by topic.
My first book, Responsibility & Luck: A Defense of Praise and Blame, can be purchased in paperback and Kindle. The book defends the justice of moral praise and blame of persons using an Aristotelian theory of moral responsibility, thereby refuting Thomas Nagel's "problem of moral luck." My second book (and online course), Explore Atlas Shrugged, is a fantastic resource for anyone wishing to study Ayn Rand's epic novel in depth.
You can also read my blog NoodleFood and subscribe to its Blog RSS Feed.
I can be reached via e-mail to [email protected].