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.
If you would like to send us feedback, suggestions for guests we should bring on, or connect with Bethany and Luigi, please email: contact at capitalisnt dot com. If you like our show, we'd greatly appreciate you giving us a rating or a review. It helps other listeners find us too.
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university of chicago podcast netwo..promarketbethany mcleaneconomicspolicyfinancebusinessmarketscapitalismmacroeconomicsmicroeconomicsresearchmonopolyspecial interestcompetitiongrowthinequalityefficiencydistortionfrictionprofessorsucpneducationgovernmentcapitalisntregulationsgeorgetownantitrustchicagochicago boothpolicymakingluigi zingalespoliticssocialismstigler centeruniversity of chicagowaldockkate waldockzingales
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Capitalisn't
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57 Subscribers
Reviews
VHXHVH007
5 out of 5 stars
Excellent podcast / review on the McKinsey episode
This is a fabulous podcast and I always get excited when a new episode comes out. As to the McKinsey episode, I agree with Luigi that the author shied away from many of his questions and frankly the interview part was disappointing (not because of the lack of trying on the interviewers’ part). It felt like the author was just trying to sell his book and refused to go into deeper analysis. There’s always a way for authors to promote their books on podcasts by going into just enough details and giving insights so that listeners are intrigued to purchase the book, but this author did it terribly. The common theme is that McKinsey is the big bad, they tell everyone to cut costs where it shouldn’t, and they take a big chunk out of it. There’s nothing deeper to be told by this author. I enjoyed the latter half of the discussion without the author. Hope y’all can expand on the consulting industry as a whole in a future episode.
BFLN24
5 out of 5 stars
Always informative and fascinating
For people who seek the truth and are open to changing their minds, not for those who have fixed beliefs and are looking to reaffirm them in an echo chamber. Also, the way Bethany and Luigi change minds is through concrete data and evidence as well as cogent, articulate, and persuasive argument. The intro to the show pretty much summarises it perfectly: Capitalism is deeply flawed and in need of reform, just as it was in the eras of the two Roosevelts, but Socialism is definitely not an alternative, and we so far haven’t come up with another system that is.
MBCal85
5 out of 5 stars
Excellent
Informative and entertaining at the same time. A very enjoyable podcast that enriches my understanding of the many aspects of economics and how it relates to our everyday lives. Thank you Luigi and Bethany!
Parliament2013
5 out of 5 stars
Smart and refreshing
This has been one of my favorite podcasts since it started. It addresses critical topics in a regressing and extremely intelligent way. Highly recommend.
Gwwappo
5 out of 5 stars
Refreshingly Genuine Discussion
I rarely write reviews but this podcast is so good I must. I have listened to this podcast for a few years now and have yet to be let down. Bethany and Luigi consistently delve into the deeper causes and repercussions of financial policy. I find their discussions to be refreshing because they are genuine in their desire to profoundly understand the topics they cover. I only wish that this quality of information were more prevalent in the media. Thanks to you both
Bob 40s
5 out of 5 stars
My favorite podcast, they are great explainers
These two are superb at explaining viewpoints, consequences, and the impact of economics on our lives.
baquiano
5 out of 5 stars
Great Hosts, Interesting Topics
Capitalisn't is a great podcast about global Economics, focusing on current topics, using a critical angle. Both hosts are very knowledgeable and the hosts they choose create an interesting conversation. P.S. For new listeners: when Luigi says "akulee", he means "actually".
AliceJJJJ
2 out of 5 stars
Devolved in ramblings fit for Twitter
The podcast has devolved into a social justice warrior espousing her views and an academic occasionally injecting sense into the conversation. I subscribed years ago to hear Professor Zingales’ mind at work. I couldn’t find a better podcast that conveyed rigorous economics in an approachable manner on interesting but not politically hyper-charged topics. It has been depressing over the past year to listen as the podcast descended into just another YouTube channel/Twitter feed.
Arlie K
5 out of 5 stars
Seriously impactful!
Capitalisn't has quickly become a favorite in my feed! Every episode flies by, and I always walk away feeling far more knowledgeable and better informed. Highly recommend tuning in!
Aaron Ram 28
5 out of 5 stars
Insightful podcast
These days the old press and social media are dumbing down information and politicizing information. This is one of the avenues to obtain unbiased information.
Sshef
5 out of 5 stars
Sanction insights
Very perceptive comments on the unintended consequences of sanctions and why China was farsighted in controlling social media as they are not neutral players
Update please
5 out of 5 stars
Smart and rigorous
Great podcast where ideas are pushed around in a rigorous and non partisan matter. Luigi and Bethany are terrific hosts and they have no problem challenging each other and their guests in a friendly and professional manner. This is not the right podcast for anyone with a fixed point of view who is unwilling to “think again”.
esqrama
5 out of 5 stars
A wonderful gem that shines light on how the world works
Rigorous, wide-ranging topics and hosts who are willing to change their own thinking based on new ideas that conflict with their prior opinions.
CarlW1318
5 out of 5 stars
Pay Gap episode
Deft handling: When the guest introduced partisanship via a cheap joke, neither host offered even a faint chuckle. That dynamic allowed the forge ahead into fresh pay-gap terrain (PE/hedge funds) that the guest indicated she needed to research further. Had the podcast veered into political narratives-even briefly- there likely would not have been time to introduce that topic. Ideas can stand on their own and need not be subservient to other masters. The hosts of this podcast seem to understand that. Refreshing.
Fedmari
2 out of 5 stars
Not very good
Second by second gas lighting polylogism. Unaware of human action. This is neoclassical top down crapshoot.
OldKidvsGlobalWarming
4 out of 5 stars
Interesting but limited
Overall, I appreciate this podcast and find discussions I don’t hear in other places. It’s sometimes a bit too wonky, but that’s ok. I couldn’t find a place to comment, rather than review, so this is really a comment on the episode about ESG and Exxon. The podcast topic was great, but the perspective was limited. They couldn’t think of a societal issue other than climate change that had an economic connection - really? How about gender and ethnic diversity, both on the Boards and in leadership positions? How about transparency and financial integrity? The discussion devolved into which companies or industries are disliked, but really there’s more to it. By excluding a broad segment of society, companies lose out on innovation and resilience. Diversity has an economic payoff. Similarly, having strong compliance practices and a culture of openness and integrity allows companies to avoid corruption and illegalities, which of course negatively impact both reputation and performance.
MusicLoverRecommendation
5 out of 5 stars
Capitalisnt
One of the best podcasts on the air. Outstanding content and guests. Thought-provoking. Kate was a hard act to follow, but Bethany is doing fine. Luigi is a great combination of academic and realist.
KunsMcgee
2 out of 5 stars
Episode 21
In my view, there is not a pervasive problem of experts overstating their expertise. But there is a pervasive anti-intellectual bent in society. Populist supporters tend to trust politicians, pundits and Twitter more than they do their country’s doctors. That’s because populist sympathizers like this podcast constantly ridicule the faceless, monolithic “elite.” In my opinion we need to cultivate a better appreciation of expert opinion.
Picwa
3 out of 5 stars
Needs more guests who disagree
This podcast is ok, but I wish the hosts would invite more guests who disagree with them. Many episodes are critical of big tech, but surely there are defenders who, for example, don’t think the antitrust laws are an appropriate tool for regulating them.
AmateurCyclist
3 out of 5 stars
GameStop episode
Great great podcast. One of the best Econ podcast out there. I was disappointed that you brought a Guest to talk about GameStop who didn't know about the concept of market making and referred to it as straight up cheating. I had to stop listening after that.
Lauren Mable
1 out of 5 stars
Bethany is an idiot
She adds nothing to the show. Just posturing. It’s really a shame that a better cohost was not available.
Cupcaketu
5 out of 5 stars
Will miss Kate
She added such a spark to economics and made the podcast not so much like a lecture but rather youre having a discussion with your VERY educated friends with some wine. Good luck in school, Kate!
L0097
5 out of 5 stars
❤️kate
please don’t leave, having an additional legal perspective would be great
stumatic
5 out of 5 stars
Bye Kate
Boooooo! Don’t leave, Kate! Loved listening to you both. I hope even after Kate finishes law school she will come back. Best of luck!
upupup98
1 out of 5 stars
Unimpressed
If these children represent the university of Chicago they are in trouble.
Blain from MA
5 out of 5 stars
Coronavirus: How are we going to pay for it
This was an outstanding discussion on a subject matter that does not get discussed enough. Especially when it comes to a more detailed discussion about the long term implications.
David Daquiri
4 out of 5 stars
More Pragmatic Less Naive Please
Overall I enjoyed the podcast. That said, I had a hard time with Kate's insistent need to be naive. In episode 64 when discussing the CARES ACT not minding businesses that will abuse the relief is giving it a blind eye. In the restaurant industry Bad Actors exists all the time and steal from employees through payroll too often. Mario Batali is not an outlier in stealing tips from employers in bars and restaurants. I thought the conversation could have gone better if 1) you delve in deeper into the specifics, 2) there was less devils advocate for the sake of devils advocate.
joe traveltraveltravel
1 out of 5 stars
Informative but lacks depth
They explain things well but don’t ask too many questions. ‘Corporations and capital have immense power, regulators and labor don’t. And that’s the way it is.’ Why? How did we get here? They don’t actually try and hold to account the current system enough for the name of the podcast to be ‘Capital Isn’t.’
jbjsekhf;aef'kaw
1 out of 5 stars
Showing your ignorance
I just started to listen to this week's episode concerning the coronavirus, and I was “appalled” (the word that you, in fact, used) at the way you described the behaviors of New Yorkers. People don’t sift through trash or pick up cigarettes off the floor because they think its okay. They do it because they don’t have many (if any) choices. Perhaps you would do well to understand poverty before criticizing the poor. Your profound ignorance betrays your privilege. Also, if you don’t like New York City, then don’t come to visit. Unsubscribed.
PDXHamsterCat
5 out of 5 stars
So good to hear informed people disagree!
I appreciate the way these two economists questions one another and their field. They also admit when they aren’t sure about something, which is refreshing for academics.
PHL132l
5 out of 5 stars
Great show
I am a fan of the podcast. They do a great job in translating complex economic ideas to a broader audience and normally discuss timely subjects.
Lail_1
1 out of 5 stars
Meh
Kate can be super annoying and contradicts herself a lot.
Melted Pat
5 out of 5 stars
Phenomenal listen
Luigi and Kate tackle interesting topics with discipline and fun debate. Personal and engaging; it’s like listening to two of your smartest and coolest friends, which is the best you can say about a podcast.
iwontrem
4 out of 5 stars
Monopoly eps are great
I liked the earlier episodes on monopolies. They had a clear point of view, supported by strong evidence with nuance that I learned a lot from. I wish they only chose subjects they felt as strongly about, because some of the episodes are so wishy washy, I have to replay the ending to remember if they ever came to a conclusion about anything.
JDelage
5 out of 5 stars
Two super smart economist from 2 different bacgrounds debate respectfully
Title says it all. The two economists come from different coun tries, are of different age, and seem to have some different views on things and yet they debate intelligently and respectfully. Very refreshing and informative.
Elemennop
5 out of 5 stars
Clear, unbiased, thorough
This podcast is what I’ve been seeking. To hear these two intelligent people discuss issues from an unbiased angle is fulfilling. Please dig more into rural economic decline. I’d like to hear a rational, unbiased, calm discussion about this topic.
ScottW.-Chicago
5 out of 5 stars
Great show and great job in Chicago
Really great fresh perspective and enjoyable listening
TizGrif
5 out of 5 stars
Thumbs up!
Great show. Very informative and an eye opener. Love it.
Christian Lewis
5 out of 5 stars
Great lunchtime debate with friends
Big fan of this podcast. Professors Zingales and Waldock have an excellent rapport. If you’re looking for a podcast that will get you thinking about the intersection of economics, financial markets and public policy (and who isn’t?) then you’re in the right place. It reminds me of a good, brisk lunchtime discussion with a friend.
ImShackler
5 out of 5 stars
Best podcast
Short, sweet, and entertaining. My favorite pod by far.
Artifu
5 out of 5 stars
Incredible podcast
My favorite podcast!! Keep going!
Ben in Miami
5 out of 5 stars
Best Economics Podcast ever.
Amazing. Podcast. These two are brilliant, work off of each other well and speak in easy to understand English when discussing complex topics. One is optimistic and the other realistic. When they go into a topic, I will usually think but what about “x” and the other usually jumps in with that same question and they discuss and teach me what the data facts and research says. We need more of the two of you!!
The Mauve Avenger
3 out of 5 stars
Mostly good
When delving into specific stories, the podcast becomes enjoyably informative. However, when presenting macro level subjects, both hosts opinions become so predictable you have probably heard them since the early 1920’s.
Jake Wampfler
5 out of 5 stars
My New Go-to
Really fun podcast that tackles the topics I wish more people were taking about
Megivanishvili
5 out of 5 stars
A fun dose of economics food for thought
I’ve really been enjoying the episodes so far for several reasons: the length is perfect; I tend to lose interest in longer podcasts. I appreciate the critical eye on capitalism but with the economics to back it up. I think Kate and Luigi are a great duo considering their varied experiences and backgrounds, personally and professionally. Keep the episodes coming! By the way, would love to see the economics of environmental risks/policy and ESG investing covered one of these days 😊
thewener
5 out of 5 stars
Love it
The episode about the fed is great
Derectous
1 out of 5 stars
Not very good
If you're into the liberal elitist worldview that those with money deserve it, people with money don't bear the burden of proving they should be trusted with it, and that government does not serve the purpose of ensuring that our better angels see the light of day then this podcast is for you.
Duke Crum
2 out of 5 stars
Bring in Field Experts
The Fed episode would have been way better with someone that studies monetary policy.
Jacques le Fou
3 out of 5 stars
Oh no! Not Again!
I was pretty pumped when I found this podcast. 2 intelligent people discussing interesting topics. What could go wrong? Unfortunately, Professor Waldock comes across as a Valley Girl with a high IQ who never listens to herself. If she did, she'd notice that she sounds unsure of herself by turning many of her statements into questions by the voice upturn at the end, and that she unnecessarily injects "like" into many of her comments. I'm sure that my advanced age influences my reaction to those speech mannerisms, and that there will be plenty of boos and hisses for me, but I hope she reads this and does indeed listen to herself.
ccszxz
2 out of 5 stars
Erzurumz zsZw
👅💪🏾j a
Anyarajjjjjj
5 out of 5 stars
Intro music and tag line can be shorter
Great capsule version of top business news. Understand the need to have an intro, but for regulars it is repetitive and so can be shorter or at the end of the podcast when you can skip. Notwithstanding this, this is one of primary sources for business news
Econ_o_clast
5 out of 5 stars
Fantastic podcast
I'm learning a lot from this podcast, particularly from the common ownership episode, which was interesting even though it's not like I'm not going to go out and change my retirement accounts. Sometimes my viewpoint aligns more with Luigi's and sometimes more with Kate's. Hope they keep it up!
Brunovoss
5 out of 5 stars
Excellent!
Amazing podcast - looking forward to the next episodes!
Lucy X. Wang
5 out of 5 stars
Awesome podcast
I have started listening to podcasts only recently, and this one has blown me away! Very informative and entertaining economic discussions on timely topics that I am curious to hear. Thanks Kate and Luigi for making this happen! :)
zddddddd-123
5 out of 5 stars
Very interesting!
Professor Zingales is amazing! Being a student @uchicago I've taken his classes at booth
klrecha
5 out of 5 stars
Worth Ur
Kate and Luigi are the best- they have a very fun discussion and they bring a unique point of view to any topic
MariaDr1989
5 out of 5 stars
Amazing podcast
Thank you so much for the great podcast! I have listened to the latest podcast reflecting Chatty’s research and I absolutely love it. i am new to android so i could not rate it on my new samsung phone so I am using my husband phone for the rating. Thank you so much and looking forward to the new episodes!!!
casscassliu
5 out of 5 stars
Very informative!
In depth, enjoyable coverage
DudeGuy54321
5 out of 5 stars
Educational, thought-provoking, entertaining
I’ve been waiting for a podcast like this for a long time. These people are smart and are talking about important yet overlooked issues. It is often political, yet the discussions they are having are also nonpartisan. I could listen to the two hosts speak all day long.
Natasha Richa
5 out of 5 stars
Great new podcast!
Loved the trailer! Can't wait to hear more :)
Podcast information
- Amount of episodes
- 149
- Subscribers
- 57
- Verified
- No
- Website
- Explicit content
- No
- Episode type
- episodic
- Podcast link
- https://podvine.com/link/..
- Last upload date
- March 16, 2023
- Last fetch date
- March 23, 2023 10:47 AM
- Upload range
- WEEKLY
- Author
- University of Chicago Podcast Network
- Copyright
- 087667
susbcribers
- SVB: The End of Banking as We Know It?We had initially prepared an entirely different episode for today, but last week's Silicon Valley Bank collapse, the largest in U.S. history since 2008, meant a quick change of plans. What happened? What is unique about this bank run, and what isn't? How much should regulators be blamed, and how much should bank management be? Do social media and today's frantic digital environment mean this is the end of banking as we know it? Luigi and Bethany talk to two experts with unique insights into the crisis: Chicago Booth Professor Douglas Diamond, who won the 2022 Nobel Prize for his decades-long work on bank runs, and Eric Rosengren, former Boston Fed President, for his view as a regulator. They discuss the factors that led to the collapse, including risky lending practices, lack of oversight, and the challenges of regulating the rapidly evolving world of banking. They also explore the broader implications of the collapse, including the impact on the broader financial system and the role of regulation in promoting financial stability. Show Notes: Nobel Laureate Douglas Diamond on How the Fed Could Have Prevented SVB’s Collapse, by Brooke Fox, on ProMarket How Do We Avoid the Next SVB? by Chicago Booth Professor Anil Kashyap, on ProMarket0 comments0
- Capitalisn't Feb 23 · 11m ProMarket: Why Martin Wolf Changed His Mind on Milton FriedmanRead the following articles in ProMarket : There Is a Direct Line from Milton Friedman to Donald Trump's Assault on Democracy, by Martin Wolf George Stigler and the Challenge of Democracy, by Anat Admati Corporations Are Not “We the People, ” by Geoffrey Stone eBook: Milton Friedman 50 Years Later, a Reevaluation Also, check out relevant past Capitalisn't episodes: Martin Wolf: Is Capitalism Killing Democracy? Why Capitalism Needs Democracy The Breaking Point Of Democracy With Morton Schapiro and Gary Morson0 comments0
- Martin Wolf: Is Capitalism Killing Democracy?Read the following articles in ProMarket : There Is a Direct Line from Milton Friedman to Donald Trump's Assault on Democracy, by Martin Wolf George Stigler and the Challenge of Democracy, by Anat Admati Corporations Are Not “We the People, ” by Geoffrey Stone eBook: Milton Friedman 50 Years Later, a Reevaluation Also, check out relevant past Capitalisn't episodes: Why Capitalism Needs Democracy The Breaking Point Of Democracy With Morton Schapiro and Gary Morson0 comments0
- Google: The New Vampire Squid? With Dina SrinivasanIn a Wall Street Journal article about Google’s Secret ‘Project Bernanke,’ Jeff Horwitz and Keach Hagey quoted Google Chief Economist Hal Varian's answer to a question he was asked during the Stigler Center's 2019 Antitrust and Competition Conference. Watch the video excerpt here. " Why Google Dominates Advertising Markets," by Dina Srinivasan, Stanford Technology Law Review, December 2019 Read ProMarket's ongoing coverage of Google here.0 comments0
- The End Of China’s Miracle?Show notes: On February 9th, 2023, " China’s New Covid Strategy," the next webinar in the Stigler Center's series on China's political economy, will feature Chang-Tai Hsieh, along with Schwarzman Scholars/Harvard Medical School's Joan Kaufman and the Financial Times ' Nian Liu (Stigler Center Journalist in Residence, 2021). Register here. Revisit previous webinars hosted by the Stigler Center on China’s political economy and read a summary: https://www.promarket.org/2023/02/02/event-notes-chinas-political-economy-in-review/ Economists share blame for China’s ‘monstrous’ turn, Janos Kornai in the Financial Times.0 comments0
- Revisiting The Meritocracy Debate With Adrian Wooldridge And Michael SandelCapitalisn't will be back in your feeds with a brand new episode on January 19. Don't forget to rate and review our podcast if you haven't already, and leave us a voicemail at https://www.speakpipe.com/Capitalisnt.0 comments0
- The "Woke" Capitalism Game With Vivek RamaswamyWe're taking the holiday off to be with our families, but that doesn't stop the economic news. And there is no story bigger than the collapse of the crypto exchange, FTX. One aspect that attracted our attention was Sam Bankman-Fried, the young CEO of FTX, officially bought into a philosophy called Effective Altruism, where you make the most money to give it to the poor. However, in a text exchange with a Vox reporter SBF said "this dumb game we woke westerns play where we say all the right things and so everybody likes us". It reminded us of what Vivek Ramaswamy said about woke capitalism on the show last year. We've decided to replay that show for you, and we'll be back in two weeks with a brand new episode of Capitalisn't. Vivek Ramaswamy, a scientist, lawyer, and former venture capitalist and entrepreneur, has a new book out: "Woke, Inc.: Inside Corporate America's Social Justice Scam". In this book, he argues that "wokeism" has become a way for corporations to wrap themselves in a mantle, which then furthers the idea of crony capitalism and extends their power into spaces they were never meant to be in. Luigi Zingales and Bethany McLean sit down with Ramaswamy to discuss his perspectives on the role of virtue, ethics, and politics in business and society.0 comments0
- A Different Story Of Inflation With John CochraneIn June 2022, Federal Reserve Chair Jerome Powell said, "we [now] understand better how little we understand about inflation." So what do we actually know about inflation? In this episode, Luigi and Bethany explore the origins of inflation with John Cochrane, Senior Fellow at Stanford’s Hoover Institution and author of the popular "Grumpy Economist" blog. They discuss Cochrane's new book, "The Fiscal Theory of the Price Level", where he offers a novel understanding of monetary policy by merging fiscal theory with the standard models of interest-setting central banks. Through a discussion of foundational economic principles such as Milton Friedman's theories – and the role of government debt, taxation, and spending levels – they shed light on what might drive inflation, and also on the requisite balance between democratically-elected institutions and independent central banks in the functioning of capitalism.0 comments0
- [Unedited]: Thomas Piketty On Creating A More Equal SocietyFrench economist Thomas Piketty is one of the leading intellectuals documenting inequality, with his 2013 book “Capital in the Twenty-First Century” becoming widely read and cited. His new book, "A Brief History of Equality," is more optimistic: In it, Piketty documents how our world has become relatively more equal since the end of the 18th century. In this unedited conversation, Piketty talks to Bethany and Luigi about the lessons from this movement toward equality and where it could go next – especially regarding policy choices such as taxes, reparations, and redistribution toward more racial, democratic, and global equality. Among others, they discuss: Would people favor massive redistribution? What kind of institutions would be required to oversee markets? Can true progress be achieved without equality?0 comments0
- Capitalisn't Sep 29 · 37m Antitrust-Isn't: The Story Of Declining Enforcement In AmericaAcademics and policymakers alike draw a significant correlation between some of today's biggest problems - such as economic inequality - with rising corporate concentration and the ever-decreasing lack of antitrust enforcement. How did this narrative come to be? Is it necessarily correct, and how has it persisted over time? A new paper provides just this data, and it's co-authored by our very own co-host Luigi Zingales, along with Filippo Lancieri, JSD alum, and Eric Posner, Professor, both from the University of Chicago Law School. Using data around public demand, Supreme Court nominations, State of the Union speeches, and more, Luigi and his co-authors reveal that the key driver behind declining enforcement wasn't the Chicago School of Economics, but rather, special interests. In this episode, Luigi and Bethany chart this story right from the beginning, its lessons for today, ways to change the current state of affairs, and most importantly, why antitrust matters. Link to paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4011335 Show note: For aspiring pre-doctoral students who wish to work with Luigi for two years on this research and more, he is hiring a Research Professional! Check out the job description and apply/share: https://www.chicagobooth.edu/research/stigler/about/job-opportunities.0 comments0
- Capitalism In Our Attention Economy With Albert WengerAlbert Wenger is Managing Partner at Union Square Ventures, which has invested in some of today's most exciting technology companies. In his new book, “The World After Capital", he argues that capitalism cannot allocate all resources efficiently in the digital age – where the new shortage isn't capital, but rather, human attention. While economically incentivized activities will not go away, he says, we must make room for the things we cannot put a price on. He proposes increasing three freedoms: economic, informational, and psychological, to ensure the continuation of human knowledge production. His book is available free of charge at https://worldaftercapital.org/.0 comments0
- The Student Debt Dilemma With Constantine YannelisWe’re taking a week off here at the end of the summer, but with Biden’s recent student loan announcement we couldn’t help but think back to our episode about student debt with Constatine Yannelis. Before he was elected, Biden had promised to remove 50K in debt from borrowers. His recent announcement doesn’t quite match that promise, but this episode still contains an incredible amount of vital information about our student debt problem, who really benefits from forgiveness, and what are real solutions for the future. We hope you enjoy, and thanks for listening. Your support is crucial to keeping our show going, so please tell your friends and family to give us a listen and a review. We’ll be back in two weeks with a brand new episode of Capitalisn’t. As Bethany mentions during the episode, if you are a journalist with some years of media experience and have an interest in deepening your knowledge and understanding of the many issues we cover on this podcast, you are encouraged to apply for the Stigler Center Journalists in Residence program, which offers training in business fundamentals at Chicago Booth. Learn more, share, and apply: www.chicagobooth.edu/stiglerjir0 comments0
- Does Software Actually Slow Innovation?Why have labor and productivity growth slowed? Software entrepreneur-turned-academic researcher, James Bessen, argues the problem isn't fewer productive startups, or M&A activity (which has actually slowed), but big corporations dominating by mastering "proprietary" software — the intersection of technology and data — which has had major negative societal consequences. He walks Luigi and Bethany through examples such as IBM, Amazon Web Services, Volkswagen, and more to discuss what's wrong with our current patent system and makes a case for opening up technology, data, and knowledge in order to restore competition. Bessen is the Executive Director of the Technology & Policy Research Initiative at Boston University and his book, "The New Goliaths: How Corporations Use Software to Dominate Industries, Kill Innovation, and Undermine Regulation", is out now.0 comments0
- Is Labor Benefiting From The Union Boom?Richard B. Freeman is a Professor of Economics at Harvard University and has been studying the role of labor unions in our economy for over forty years. His seminal publication, "What Do Unions Do?" (1984), concluded that unions are on balance beneficial for the economy and society, and remains one of the most widely cited books in this area of research. Luigi and Bethany sit down with Freeman to ask: What do unions do today? How have technology, global competition, and the open economy led to their decline? And as seen by recent unionization moves at Amazon, Starbucks, and elsewhere, how real are the nascent signs of a comeback? They debate whether unions, both public and private, are robust ways to protect workers' rights moving forward, or whether government should instead focus on securing safety net systems such as minimum wage and unemployment insurance.0 comments0
- Is Inflation The Fed’s Fault? + Uber LeaksWith inflation unfettered, Luigi and Bethany sit down with economist Ricardo Reis to discuss the Federal Reserve’s role. Contrary to our hosts’ views, Reis argues that while the Fed has made mistakes, they are largely understandable. Together, they chart why it took so long to pivot policies, how central banks responded to supply and energy shocks, how much the Fed – or Chair Jay Powell – is to blame, and what they should be doing to control inflation. Plus, Bethany and Luigi discuss The Guardian exposé on the Uber Files, and what it teaches us about academic and journalistic accountability when it comes to corporate lobbying.0 comments0
- Capitalisn't Jul 7 · 59m How Corporations Get Away With Crime + SCOTUS EPA RulingWhen it comes to corporate rulebreaking, data from 2002 to 2016 reveals that the US government arranged more than 400 "deferred protection agreements" as a means of deterrence. Under these, a company acknowledges what it did was wrong, pays a fine, promises not to misbehave for a period of time -- and thus is largely let off the hook. Columbia Law School Professor and author of "Corporate Crime and Punishment: The Crisis of Underenforcement", John C. Coffee, says these have done little to deter future wrongdoing. Coffee joins Luigi and Bethany, both of whom have also extensively researched and exposed corporate wrongdoing, to discuss how to reform aspects of enforcement, such as self-reporting mechanisms, internal investigations, independent external auditors, whistleblowers, and even shame and humiliation.0 comments0
- Rethinking (Neo)liberalism?Our last three guests on the show, Oren Cass, Francis Fukuyama, and Glenn Hubbard, have each brought forth their critiques and suggestions for how liberalism and neoliberalism work (or ought to work) in our society. In this episode, Bethany and Luigi reflect and take stock of how the political and economic components of these ideas might differ, where their promises have failed, and who has benefited from their messy implementation. In the process, they try answering: What would a new version of (neo)liberalism look like?0 comments0
- A Defense of the Neoliberal Order with Glenn Hubbard + Big Tech Antitrust BillsGlenn Hubbard is Professor and Dean Emeritus at Columbia Business School, and also served as Chair of the U.S. Council of Economic Advisers, among others. In his new book, "The Wall and the Bridge: Fear and Opportunity in Disruption's Wake", he addresses the underlying forces behind the global populist anxiety by reimagining the process of "building bridges, not walls". He talks with Bethany and Luigi about trade, reforming social insurance, preparing the labor force for technological change, and the role of state, markets, and community in the economy. For our Is/Isn't segment (43:44), Bethany and Luigi discuss the latest antitrust effort in the U.S. Congress to regulate Big Tech – the American Innovation and Choice Online Act, which could be up for a vote this summer.0 comments0
- Liberalism And Its Discontents With Francis Fukuyama + The Baby Formula ShortageFrancis Fukuyama is an American political scientist and author, notably of The End of History (1992) and Trust: Social Virtues and Creation of Prosperity (1995). Now, in his new book, he offers liberalism as a solution to our current problems of social bifurcation, if paired with other functional institutions of a democracy. Bethany and Luigi sit down with Fukuyama to understand: What does liberalism even mean? What are its excesses and its critiques from the progressive left? How dependent is it on traditional notions of growth and prosperity, and can it be implemented effectively in an unequal society?0 comments0
- The Intangible Economy with Jonathan Haskel + Roe v Wade & Corporate AmericaWhat do lighthouses, the wheelie suitcase, Harry Potter, and Wikipedia have in common? They showcase the progressive evolution towards investment in the "intangible economy": one prioritizing knowledge, relationships, design, reputation, and other internal organization over physical assets. Jonathan Haskel is Professor of Economics at Imperial College (London) and the co-author of a new book "Restarting the Future: How to Fix the Intangible Economy". Bethany and Luigi sit down with Haskel to discuss the characteristics and consequences of this economy, its value to society, the system of rewards and incentives behind it, and the role for government in regulating it. They also discuss the leaked Supreme Court memo on Roe v. Wade and the extent to which corporate America should be weighing in on political debates. (49:46)0 comments0
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