show episodes
 
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 Vanity Fair contributing editor, Bethany McLean and world renowned economics professor 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
 
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 ...
 
Economics Detective Radio is a podcast about markets, ideas, institutions, and all things related to the field of economics. Episodes consist of long-form interviews and are generally released on Fridays. Topics include economic theory, economic history, the history of thought, money, banking, finance, macroeconomics, public choice, business cycles, health care, education, international trade, and anything else of interest to economists, students, and serious amateurs interested in the scien ...
 
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show series
 
Uncertainty and risk are all around us. So how can we make good decisions when we don't know what will happen? Betsey Stevenson and Justin Wolfers show you how to understand risk, and your reaction to it, as well as giving you the tools to help reduce risk. Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production. See …
 
Environmental, social and governance investing, also know as ESG, has exploded in recent years. It promises to help us solve problems like climate change and inequality all while allowing investors to still turn a profit.But BlackRock’s former global chief investment office for sustainable investing, Tariq Fancy, says it isn't what's being advertis…
 
In business, as in life, we often have to make decisions based on what others choose. But how do we make the right strategic decisions? Betsey Stevenson and Justin Wolfers unpick the problems of strategic cooperation and coordination, and show you the four steps for making good strategic decisions. You now have two choices - to listen to this episo…
 
Great entrepreneurs identify opportunities for long-term profits before other people can. Betsey Stevenson and Justin Wolfers will help you learn how to spot your business opportunities and show you the five forces that determine profitability. Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production. See Privacy Polic…
 
Capitalism doesn't work without democracy. So, it's particularly concerning that polarization and fundamentalism are threatening the underlying principles that make our democracy possible.A new book by Northwestern President and economist Morton Schapiro and literary scholar Gary Saul Morson called "Minds Wide Shut" explores the forces that are des…
 
If there are profits to be made, entrepreneurs will be there to start their business. But how can they stay ahead of the competition and deter new rivals from entering the market? Betsey Stevenson and Justin Wolfers guide you through the choices managers make to remain profitable, and explain why businesses try to crush healthy competition. Co-host…
 
Why do some people earn so much more than others? How does society value certain jobs over other jobs - and how can we make sure we get a higher wage? Betsey Stevenson and Justin Wolfers help navigate the vagaries of the job market, and have some advice how to get the best wage deal. Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modul…
 
Does meritocracy create a better world for everyone, or does it create massive inequality? There's been a lot of debate in the last few years about meritocracy, and it's become even more pressing in light of the pandemic. If essential workers are "essential", are they really less meritorious than a banker or accountant? So, we decided to discuss bo…
 
Economists Betsey Stevenson and Justin Wolfers are back to help you think like an economist. This season is our mini-MBA, and we'll unpack even more economic tools, with a focus on showing you how to make wise business decisions. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-m…
 
The University of Chicago Podcast Network is excited to announce the launch of a new show, it’s called "Entitled" and it’s about human rights. Co-hosted by lawyers and UChicago Law School Professors, Claudia Flores and Tom Ginsburg, Entitled explores the stories around why rights matter and what’s the matter with rights.We’re going to share the fir…
 
Does meritocracy create a better world for everyone, or does it create massive inequality? There's been a lot of debate in the last few years about meritocracy, and it's become even more pressing in light of the pandemic. If essential workers are "essential", are they really less meritorious than a banker or accountant? So, we decided to discuss bo…
 
If shareholders are the owners of a company, they should be able to get that company to do what they want. But what happens when shareholders want something other than profits at any cost?In a major moment for what's come to be called "shareholder capitalism", activist hedge fund Engine No. 1 successfully claimed three seats on Exxon's board of dir…
 
There are plenty of lingering questions about the development of the coronavirus vaccine. How was the pricing decided? Did the public-private partnership with the government work? Who's right in the debate over patent rights and profit sharing?There's no better person to put these questions to than David Meline, the CFO of Moderna. He joins our pod…
 
Occupy Wall Street, Italy's Five Star Movement, the indignados in Spain—we've seen an increase in anti-elite protests by a disabused public over the last two decades. But what has caused this "revolt of the public"?Martin Gurri, Visiting Fellow at George Mason University's Mercatus Center and former CIA media analyst, argues that elites have overpr…
 
In the last few decades, American wages have stagnated for everyone except those at the very top. Yet, during this same period, worker productivity and corporate profits have soared. Why these two trends have coincided has perplexed economists. But, in a new book, economist Jan Eeckhout proposes a simple answer: market power. We discuss his proposa…
 
Have you ever heard the term "regulatory capture"? It's a famous economic theory that the regulation and regulators we create to keep certain industries in check can be captured and bent to the desires of those very industries. This year marks the 50th anniversary of the publication of the paper that first proposed this theory. It's called "The The…
 
It's time to explore macroeconomics from a new yet familiar perspective, using economy-wide supply and demand curves to forecast the economy's total output and average price level. Betsey Stevenson and Justin Wolfers show you how this perspective can help you diagnose the economy's ills, and prescribe the appropriate policy medicine. Summary Co-hos…
 
Pres. Biden is pursuing some of the largest spending proposals in U.S. history, which should be sparking concerns about inflation and interest rates. But most prominent bankers and economists have told us not to worry. Fmr Central Banker Mervyn King says they shouldn't be so confident. On this episode, we speak with Lord King about his concerns of …
 
Government deficits and debt are at record levels in many countries, provoking widespread anxiety. Betsey Stevenson and Justin Wolfers explain why governments run deficits and rack up debt, whether they're likely to be sustainable, and if you really need to worry. Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media productio…
 
Can art really create political change? What are the conditions that make this possible if and when it happens? What are the social ingredients that make for good art scenes? ...and what the hell was up with the DNC last year? In a sobering interview, Ben Davis, National Art Critic for ArtNet News and self-avowed Marxist, reminds us to be realistic…
 
There's no bigger player in the economy than the government, which can adjust billions of dollars worth of taxes and spending. Betsey Stevenson and Justin Wolfers explain how policymakers can adjust these levers to keep the economy on track. Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production. See Privacy Policy a…
 
What is causing the widening wealth gap in America? People point fingers in many different directions, but a fairly new idea is to blame The Federal Reserve. In a new book, "Engine of Inequality: The Fed and The Future of Wealth In America", Karen Petrou, a managing partner at Federal Financial Analytics, argues that The Fed's ultra-low interest ra…
 
Central Banks around the world, such as the Federal Reserve, work to keep the economy running smoothly. They set interest rates and adjust financial conditions to keep inflation and unemployment stable and low. Betsey Stevenson and Justin Wolfers take you to the heart of the Fed's decision making process, and explain how those decisions affect your…
 
When a shock such as the Covid pandemic sends waves through the global economy, how do economists find ways to respond? Betsey Stevenson and Justin Wolfers guide you through the Fed Model - the mainstay of policy makers and financiers around the world. They examine the key relationships in the macroeconomy and the shocks that destabilise them. Co-h…
 
When it comes to probing the problems of Big Tech, either as a journalist or academic, access is key. Necessary data is highly guarded, often in a "black box", and these companies carefully select what they share and with whom. Few people understand this better than Kara Swisher who has been fearlessly covering and critiquing Big Tech since the 199…
 
Matt and Jake bring on a special guest (Michael Conklin) to talk about his life and the life in general of a gigging horn player and how it contrasts to being a rhythm section player. Somehow they end up on a discussion of the entire music industry and its lack of money. How they get there no one actually knows.…
 
Why do we end up paying higher prices than we used to? And what are the main causes of this economy-wide inflation? Betsey Stevenson and Justin Wolfers talk us through how expectations influence inflation, and how greater demand, and problems with supply can push up prices. Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media…
 
The only thing worse than crony capitalism may be crony capitalism controlled by a centralized communist authority. This is the system that has led to massive wealth disparities in China, even as the country has seen record growth.Former New York Times correspondent, David Barboza, has gotten a first-hand look at how this system in China has led to…
 
What is the most important price in the economy? Betsey Stevenson and Justin Wolfers say that it's the interest rate, and they dig into where it comes from, and how it drives all spending in the economy. These big ideas yield a framework called the IS-MP model which policymakers use to help devise fiscal and monetary policies to kick-start the econ…
 
Even economists find navigating the ups and downs of expansions and recessions tricky. With the COVID-19 recession still affecting millions around the world, Betsey Stevenson and Justin Wolfers help you make sense of the business cycles that affect all of our lives. And they have some handy tools to help you understand where the economy is headed. …
 
Concerns about the political power of Big Tech and lack of competition are at an all-time high. The business model of Facebook, Google, Twitter, ect. seem to be creating a race to the bottom for the discourse in our social and political lives.Many have argued we should turn to anti-trust laws as a way to solve this problem, but Nobel laureate Paul …
 
How can a change in the currency markets change the price of a loaf of bread? And is a strong currency useful? Betsey Stevenson and Justin Wolfers explain how imports and exports are affected by foreign exchange markets. Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production. See Privacy Policy at https://art19.com/p…
 
Michael Heller joins the podcast to discuss his new book, Mine! How the Hidden Rules of Ownership Control Our Lives. This book explores the implicit social rules governing ownership. In brief, these rules are as follows: Attachment ("it's mine because it's connected to something of mine") Possession ("it's mine because I physically control it") Fir…
 
Are you thinking about investing in the Financial Markets? Should you put some of your retirement savings into bonds, or stocks and shares? Betsey Stevenson and Justin Wolfers explain how you can invest and have some simple words of advice for you. Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media Production. See Privacy P…
 
The consulting firm McKinsey has agreed to pay nearly $600 million for its role in advising Purdue on how to push opioids sales, even at the cost of human lives. The details of their work are gruesome and should demand self-reflection among all those who work in big business. Has the profit motive gone out of control, and do business schools have a…
 
When businesses invest, they're weighing upfront costs against future gains. Betsey Stevenson and Justin Wolfers show you how executives make smart investment decisions, and how you can use the same ideas to figure out whether to invest in your education, your health, or your financial future. Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphic…
 
We all make decisions about when to spend our money and when to save for our future selves. Betsey Stevenson and Justin Wolfers show you the tools to make the right spending and saving choices at different times of your life, and what it all means for the macroeconomy. Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media prod…
 
Unless you've been living under a rock, you've probably heard the story of GameStop and Robinhood. Most writers and outlets have claimed this is either a positive David vs Goliath story or a dangerous new trend. On this episode, we're joined by Matt Stoller, Director of Research at the American Economic Liberties Project, who has an entirely differ…
 
We might watch the inflation rate to see how the cost of living is changing, and how our money changes value over time. But what happens when we can't trust money any more? Betsey Stevenson and Justin Wolfers explain inflation - what it is, the harm it can do, and how you can protect yourself against it. Co-Host: Nastaran Tavakoli-Far. Editor: Alas…
 
Being unemployed can be very stressful, so what can economists do to help people back to work? Betsey Stevenson and Justin Wolfers discuss what it means to be jobless, and what to do if you're unlucky enough to lose your job. Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production. See Privacy Policy at https://art19.…
 
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