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Capitalisn't

University of Chicago Podcast Network

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Is capitalism the engine of destruction or the engine of prosperity? On this podcast we talk about the ways capitalism is—or more often isn’t—working in our world today. Hosted by author and journalist Bethany McLean and world renowned economist Luigi Zingales, we explain how capitalism can go wrong, and what we can do to fix it. Cover photo attributions: https://www.chicagobooth.edu/research/stigler/about/capitalisnt. If you would like to send us feedback, suggestions for guests we should b ...
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The Brookings Podcast on Economic Activity connects you to cutting edge economic policy research and the renowned economists who create it. On each episode, the Brookings Papers on Economic Activity editors introduce new BPEA research and present a conversation between the author and a Brookings scholar to bridge the divide between economic theory and practical policy solutions.
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Think Like An Economist

Betsey Stevenson & Justin Wolfers

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Think Like an Economist and you’ll see the world more clearly, empowering you to make better decisions at work, at home, and in your community. Leading economists Betsey Stevenson and Justin Wolfers will take you on a joyous romp through their field as they introduce you to the big ideas in economics, and show how you can apply them to live in your own life. Their signature approach reveals that every decision is an economic decision and this podcast uncovers the economic forces that shape t ...
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How to Solve Poverty

Brandon Stover | Plato University

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Learn to solve one of the greatest challenges of our time: poverty. In this course you’ll use systems thinking to understand the causes, systems, and obstacles underlying the poverty challenge and discover a portfolio of possible solutions. Explore our easy-to-understand, science-backed lessons with actionable advice and practical skills you can learn to start taking action right away without being an economist! When you're ready to learn more skills, join for FREE at Plato.University/course ...
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Welcome to REVISE, the ultimate podcast for those ready to ace their Economics A-Level exams! Are you feeling the exam pressure building up like a stack of unread textbooks? Fear not! Join us as we transform daunting topics into digestible, engaging, and easy-to-follow episodes. To see all of Seneca Learning's available content, visit our website https://app.senecalearning.com/
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From Hidden Brain: We don't always behave the way economic models say we will. We don't save enough for retirement. We order dessert when we're supposed to be dieting. We give donations when we could keep our money for ourselves. Again and again, we fail to act rationally and selfishly — the way traditional economics expects us to. We've seen this …
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There’s a word that’s gained a lot of popularity in the last year: “ensh*ttification”. It refers to a trajectory many see with digital platforms: they initially offer immense value to users, only to systematically degrade that quality over time in order to extract maximum surplus for shareholders. We invited the coiner of this term, science fiction…
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A recent proposal by Lina Khan, co-chair of Zohran Mamdani's mayoral transition team, to cap the price of beer at stadiums in New York City sparked a debate on X last month. At the center of that debate was Matthew Yglesias, editor and author of the Slow Boring newsletter, who argued that the modern antitrust movement has become "slipshod" and is i…
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Monetary and fiscal policymakers use a variety of metrics to inform their decisions, but among the most important is the neutral rate of interest, also known by economists as "r*," a number that isn't directly observable. It represents the prevailing rate of interest in a smooth-running economy, and can be thought of as a target for policymakers. A…
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From Econtalk: Robert Frank of Cornell University talks with EconTalk host Russ Roberts about inequality. Is there a role for public policy in mitigating income inequality? Is such intervention justified or effective? The conversation delves into both the philosophical and empirical evidence behind differing answers to these questions. Ultimately, …
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From Throughline: The Great Depression was a revolutionary spark for all kinds of things — health insurance, social safety nets, big government — all of which were in response to a national crisis. Through the personal accounts of four people who lived during the Great Depression, we look back at what life was like back then and what those stories …
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Did you know Amazon makes $37 billion a year—more than double the revenue of all the newspapers in the world combined—from its sponsored results alone? Yes, the same, spammy, sponsored results at the top of a search that bilk shoppers with fake or low-quality items and can starve legitimate businesses of traffic and revenue. This is one of the many…
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Throughout history, human work has been augmented by technology. But the emergence of artificial intelligence tools have led many to ask whether an unprecedented shift in how we work with technology is imminent. In a new study, researchers used modern AI tools to look back at the recent history of technology's impact on work—which jobs were replace…
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From Vox Talks: At the heart of policy debates about our collective responses to climate change is the issue of risk and uncertainty - ‘unknown unknowns’ about the impact of global warming. In this Vox Talk, Gernot Wagner - co-author with Harvard’s Martin L. Weitzman of 'Climate Shock: The Economic Consequences of a Hotter Planet’ - argues for Pigo…
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From Planet Money: On today's show, we ask: What does full employment really look like? NPR sent reporters across the country, including to Ames, Iowa, the city with the lowest unemployment rate, to find out. The unemployment rate is just 3.6% in the U.S., a 50-year low. People think we are at, or near, full employment. That's the lowest the unempl…
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Recently, Bethany and Luigi joined economist and wealth inequality expert Branko Milanovic in front of a live audience at the Aspen Ideas Festival to explore how capitalism, democracy, and income inequality interact. Together, the three discussed the pervasiveness of income inequality around the world, its connections with democracy and political s…
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Fertility rates are falling in many countries around the world, with births failing to keep pace with deaths in nearly half of countries. Researchers believe it's possible that the world's population will start shrinking in the near future, and the effects could be catastrophic for institutions like Social Security. A new paper explores a novel exp…
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From Econtalk: Bloomberg Opinion columnist and economist Noah Smith talks with EconTalk host Russ Roberts about corporate control, wages, and monopoly power. Smith discusses the costs and benefits of co-determination--the idea of putting workers on corporate boards. The conversation then moves to a lively discussion of wages and monopoly power and …
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Standard economic theory informs how we think about business strategy and the economy and presumes that people are selfish, have well-defined preferences, and consistently make welfare-maximizing choices. In other words, we are rational. But what if that is not the case? Nobel Prize-winning economist Richard Thaler is out with an updated edition of…
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Studies of the economic impacts of climate change often look at long-term, national costs. A new BPEA study takes a different approach, focusing on the current household level costs attributable to changing weather. The report authors examine a range of impacts, from mortality costs due of wildfire smoke to rising insurance costs along coastlines, …
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From Freakonomics radio: The banana used to be a luxury good. Now it’s the most popular fruit in the U.S. and elsewhere. But the production efficiencies that made it so cheap have also made it vulnerable to a deadly fungus that may wipe out the one variety most of us eat. Scientists do have a way to save it — but will Big Banana let them?…
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Every major technological revolution has come with a bubble: railroads, electricity, dot-com. Is it AI’s turn? With investments skyrocketing and market valuations reaching the trillions, the stakes are enormous. But are we witnessing a genuine revolution—or the early stages of a spectacular crash? Princeton professor Arvind Narayanan joins Luigi Zi…
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Roughly two thirds of countries on Earth stabilize their currency against the U.S. dollar. The relationship has benefits in both directions: Smaller countries enjoy better stability for their national currencies, and U.S. companies and government get low borrowing rates, among other benefits. But a new BPEA paper, "Trade War and the dollar anchor,"…
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From Freakonomics radio: As cities become ever-more expensive, politicians and housing advocates keep calling for rent control. Economists think that’s a terrible idea. They say it helps a small (albeit noisy) group of renters, but keeps overall rents artificially high by disincentivizing new construction. So what happens next?…
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The Japanese economy was once the envy of the world. By the 1980s, it looked set to surpass the United States in size. Real estate prices were high, the stock market was booming—the entire world was asking if Japan had found a superior model of economic growth and recovery after World War II, one grounded in industrial policy. However, the bubble b…
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From Planet Money: A famous biologist, Paul Ehrlich, predicts that overpopulation will lead to global catastrophe. He writes a bestselling book — The Population Bomb — and goes on the Tonight Show to make his case.An economist, Julian Simon, disagrees. He thinks Ehrlich isn't accounting for how clever people can be, and how shortages can lead to ne…
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Why does a podcast about capitalism want to talk about science? Modern capitalism and science have evolved together since the Enlightenment. Advances in ship building and navigation enabled the Age of Discovery, which opened up new trade routes and markets to European merchants. The invention of the spinning jinny and cotton in the 18th century spu…
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From Planet Money: Prices go up. Occasionally, prices go down. But for 70 years, the price of a bottle of Coca-Cola didn't change. From 1886 until the late 1950s, a bottle of coke cost just a nickel. On today's show, we find out why. The answer includes a half a million vending machines, a 7.5 cent coin, and a company president who just wanted to g…
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From Today in Focus (The Guardian): The world economy may have dramatically dipped and the price of oil crashed, but one commodity is seeing an unprecedented boom: the face mask. Samanth Subramanian explores the newly distorted marketplace for masks and the lengths some will go to get them When the coronavirus began spreading beyond China in Januar…
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This week, the Trump administration announced it would sell around 5% of mortgage giants and government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. The sale would begin to reintroduce the two firms to private markets after 17 years of government conservatorship. The decision to re-privatize two of the largest mortgage firms in the worl…
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From Planet Money: In our second class, we find markets everywhere and discuss what makes them work and when they fail. We start off with the basic tools to understand a market: supply and demand. We find that the price of an item isn't just about money; a price reflects all the information inside a market, from a buyer's willingness to pay to a su…
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From Planet Money: In 1976, Jimmy Carter made a campaign promise: I'm giving dairy farmers a break. And after he won, he set out to raise the price of milk. But that's easier said than done. The government couldn't just buy milk. They had to buy something storable that used a lot of milk. So the government started buying up as much cheese as people…
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For decades, private equity has been the darling of pension funds, university endowments, and sovereign wealth funds, promising high returns and low volatility. Now, President Donald Trump has made it possible for everyday investors to get in on the magic with his executive order, "Democratizing Access to Alternative Assets for 401(k) Investors.” T…
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What is the right way, if there is one at all, to integrate artificial intelligence (AI) technology into our education system? For Sal Khan, CEO of one of the world’s largest nonprofit education technology platforms, the answer is to take a step back and ask: Where can AI best complement current pedagogy? If a problem can be solved by pencil and pa…
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Americans are often told that they benefit from the privilege of the dollar serving as the world's currency. A strong dollar makes imports cheaper, facilitates demand for American companies, and is tied to cheap government borrowing. But what happens when this powerful privilege weakens? What does it even mean for the dollar to be “strong” or “weak…
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After the 2008 financial crisis, and especially after the COVID pandemic of 2020, an increasing number of Americans are questioning the wisdom of unregulated markets and envisioning a more active role for the state. Scholars have coined a panoply of neologisms to capture this view of the political economy, including political scientist Steven Vogel…
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The Democratic Party has become too focused on appeasing its billionaire donors and has failed to communicate its commitment to the working class, argues long-time political journalist David Sirota. The question moving forward, he says, is if the party can ever refocus its brand orthodoxy from prioritizing social and cultural issues to economic pop…
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Are financial markets becoming less efficient? Famous investor Cliff Asness certainly thinks so. In his paper published last year, “The Less-Efficient Market Hypothesis,” Asness argues that social media and low interest rates, among other factors, have distorted market information so that stocks have become disconnected from their true values. This…
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Interstate migration has declined in the U.S. in recent decades, suggesting that workers are less likely to move in order to find employment. Such a trend would have significant policy implications for state and local governments, as well as at the federal level. But new research by Andrea Foschi, Christopher L. House, Christian Proebsting, and Lin…
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