Freakonomics Radio

The employee ownership movement is growing, and one of its biggest champions is also a private equity heavyweight. Is this meaningful change, or just window dressing?

From politics and economics to psychology and the arts, many of the modern ideas we take for granted emerged a century ago from a single European capital. In this episode of the Freakonomics Radio Book Club, the historian Richard Cockett explores all those ideas — and how the arrival of fascism can ruin in a few years what took generations to build.

Five years ago, we published an episode about the boom in home DNA testing kits, focusing on the high-flying firm 23andMe and its C.E.O. Anne Wojcicki. Their flight has been extremely bumpy since then. This update includes an additional interview with the Wall Street Journal reporter who has been investigating the firm’s collapse.

Justin Trudeau, facing record-low approval numbers, is doubling down on his progressive agenda. But he is so upbeat (and Canada-polite) that it’s easy to miss just how radical his vision is. Can he make it work?

So you want to help people? That’s great — but beware the law of unintended consequences. Three stories from the modern workplace.

The psychologist Daniel Kahneman — a Nobel laureate and the author of “Thinking, Fast and Slow” — recently died at age 90. Along with his collaborator Amos Tversky, he changed how we all think about decision-making. The journalist Michael Lewis told the Kahneman-Tversky story in a 2016 book called "The Undoing Project." In this episode, Lewis explains why they had such a profound influence.

People who are good at their jobs routinely get promoted into bigger jobs they’re bad at. We explain why firms keep producing incompetent managers — and why that’s unlikely to change.

Fareed Zakaria says yes. But it’s not just political revolution — it’s economic, technological, even emotional. He doesn’t offer easy solutions but he does offer some hope.

The political debates over immigration can generate a lot of fuzzy facts. We wanted to test Americans’ knowledge — so, to wrap up our special series on immigration, we called some Freakonomics Radio listeners and quizzed them.

As the U.S. tries to fix its messy immigration system, our neighbor to the north is scooping up more talented newcomers every year. Are the Canadians stealing America’s bacon? (Part three of a three-part series.)

The U.S. immigration system is a massively complicated machine, with a lot of worn-out parts. How to fix it? Step one: Get hold of some actual facts and evidence. (We did this step for you.) (Part two of a three-part series.)

She arrived in the U.S. as an 11-year-old refugee, then rose to become Secretary of State. Her views on immigration, nationalism, and borders, from this 2015 interview, are almost strangely appropriate to the present moment.

How did a nation of immigrants come to hate immigration? We start at the beginning, sort through the evidence, and explain why your grandfather was lying about Ellis Island. (Part one of a three-part series.)

Economists have discovered an odd phenomenon: many people who use social media (even you, maybe?) wish it didn’t exist. But that doesn’t mean they can escape.

In ancient Rome, it was bread and circuses. Today, it’s a World Cup, an Olympics, and a new Saudi-backed golf league that’s challenging the PGA Tour. Can a sporting event really repair a country’s reputation — or will it trigger the dreaded Streisand Effect? Also: why the major U.S. sports leagues are warming up to the idea of foreign investment.

What surprises lurk in our sewage? How did racist city planners end up saving Black lives? Why does Arizona grow hay for cows in Saudi Arabia? Three strange stories about the most fundamental substance we all take for granted.

It used to feel like magic. Now it can feel like a set of cheap tricks. Is the problem with Google — or with us? And is Google Search finally facing a real rival, in the form of A.I.-powered “answer engines”?

A wide-open conversation with three women who guided Richard Feynman through some big adventures at the Esalen Institute. (Part of our Feynman series.)

In his final years, Richard Feynman's curiosity took him to some surprising places. We hear from his companions on the trips he took — and one he wasn’t able to. (Part three of a three-part series.)

What happens when an existentially depressed and recently widowed young physicist from Queens gets a fresh start in California? We follow Richard Feynman out west, to explore his long and extremely fruitful second act. (Part two of a three-part series.)

They’re heading to the Super Bowl for the second time in five years. But back in 2018, they were coming off a long losing streak — and that’s the year we sat down with 49ers players, coaches, and executives to hear their turnaround plans. It’s probably time to consider the turnaround a success.

From the Manhattan Project to the Challenger investigation, the physicist Richard Feynman loved to shoot down what he called “lousy ideas.” Today, the world is awash in lousy ideas — so maybe it’s time to get some more Feynman in our lives? (Part one of a three-part series.)

Michael Roth of Wesleyan University doesn’t hang out with other university presidents. He also thinks some of them have failed a basic test of good sense and decency. It’s time for a conversation about college, and courage.

We all like to throw around terms that describe human behavior — “bystander apathy” and “steep learning curve” and “hard-wired.” Most of the time, they don’t actually mean what we think they mean. But don’t worry — the experts are getting it wrong, too.

Probably not — the incentives are too strong. Scholarly publishing is a $28 billion global industry, with misconduct at every level. But a few reformers are gaining ground. (Part 2 of 2)

Some of the biggest names in behavioral science stand accused of faking their results. Last year, an astonishing 10,000 research papers were retracted. We talk to whistleblowers, reformers, and a co-author who got caught up in the chaos. (Part 1 of 2)

In a special episode of The Economics of Everyday Things, host Zachary Crockett explains what millennials do to show they care, how corrugated cardboard keeps your food warm, and why every city has a billboard for a guy who calls himself “The Hammer.”

In a special episode of People I (Mostly) Admire, Steve Levitt talks to Cat Bohannon about her new book "Eve: How the Female Body Drove 200 Million Years of Human Evolution."

In a special episode of No Stupid Questions, Angela Duckworth and Mike Maughan talk about unfinished tasks, recurring arguments, and Irish goodbyes.

Lewis got incredible access to Sam Bankman-Fried, the billionaire behind the spectacular FTX fraud. His book is a bestseller, but some critics say he went too easy on S.B.F. Lewis tells us why the critics are wrong — and what it’s like to watch your book get turned into a courtroom drama.

In policing, as in most vocations, the best employees are often promoted into leadership without much training. One economist thinks he can address this problem — and, with it, America’s gun violence.

It boosts economic opportunity and social mobility. It’s good for the environment. So why do we charge people to use it? The short answer: it’s complicated. Also: We talk to the man who gets half the nation’s mass-transit riders where they want to go (most of the time).

Most industries have become more productive over time. But not construction! We identify the causes — and possible solutions. (Can you say ... “prefab”?)

Pro footballer and star podcaster Jason Kelce is ubiquitous right now (almost as ubiquitous as his brother and co-host Travis, who's been in the limelight for his relationship with Taylor Swift). After you hear this wide-ranging interview, you might want even more Kelce in your life.

They say they make companies more efficient through savvy management. Critics say they bend the rules to enrich themselves at the expense of consumers and employees. Can they both be right? (Probably not.)

Evidence from Nazi Germany and 1940’s America (and pretty much everywhere else) shows that discrimination is incredibly costly — to the victims, of course, but also the perpetrators. One modern solution is to invoke a diversity mandate. But new research shows that’s not necessarily the answer.

Everyone makes mistakes. How do you learn from them? Lessons from the classroom, the Air Force, and the world’s deadliest infectious disease.

Giving up can be painful. That's why we need to talk about it. Today: stories about glitchy apps, leaky paint cans, broken sculptures — and a quest for the perfect bowl of ramen.

In medicine, failure can be catastrophic. It can also produce discoveries that save millions of lives. Tales from the front line, the lab, and the I.T. department.

We tend to think of tragedies as a single terrible moment, rather than the result of multiple bad decisions. Can this pattern be reversed? We try — with stories about wildfires, school shootings, and love.

Claudia Goldin is the newest winner of the Nobel Prize in Economics. We spoke with her in 2016 about why women earn so much less than men — and how it’s not all explained by discrimination.

John Ray is an emergency C.E.O., a bankruptcy expert who takes over companies that have succumbed to failure or fraud. He’s currently cleaning up the mess left by alleged crypto scammer Sam Bankman-Fried. And he loves it.

If two parents can run a family, why shouldn’t two executives run a company? We dig into the research and hear firsthand stories of both triumph and disaster. Also: lessons from computer programmers, Simon and Garfunkel, and bears versus alligators.

In her new book "The Two-Parent Privilege," the economist Melissa Kearney says it’s time for liberals to face the facts: U.S. marriage rates have plummeted but the babies keep coming, and the U.S. now leads the world in single-parent households. Plus: our friends at "Atlas Obscura" explore just how many parents a kid can have.

The union that represents N.F.L. players conducted their first-ever survey of workplace conditions, and issued a report card to all 32 teams. What did the survey reveal? Clogged showers, rats in the locker room — and some helpful insights for those of us who don’t play pro football.

For all the speculation about the future, A.I. tools can be useful right now. Adam Davidson discovers what they can help us do, how we can get the most from them — and why the things that make them helpful also make them dangerous. (Part 3 of "How to Think About A.I.")

Guest host Adam Davidson looks at what might happen to your job in a world of human-level artificial intelligence, and asks when it might be time to worry that the machines have become too powerful. (Part 2 of "How to Think About A.I.")

Artificial intelligence, we’ve been told, will destroy humankind. No, wait — it will usher in a new age of human flourishing! Guest host Adam Davidson (co-founder of "Planet Money") sorts through the big claims about A.I.'s future by exploring its past and present — and whether it has a sense of humor. (Part 1 of "How to Think About A.I.")

The famously profane politician and operative is now U.S. ambassador to Japan, where he’s trying to rewrite the rules of diplomacy. But don’t worry: When it comes to China, he’s every bit as combative as you’d expect.

Americans are so accustomed to the standard intersection that we rarely consider how dangerous it can be — as well as costly, time-wasting, and polluting. Is it time to embrace the lowly, lovely roundabout?

Bjorn Andersen killed 111 minke whales this season. He tells us how he does it, why he does it, and what he thinks would happen if whale-hunting ever stopped. (This bonus episode is a follow-up to our series “Everything You Never Knew About Whaling.")

In three stories from our newest podcast, host Zachary Crockett digs into sports mascots, cashmere sweaters, and dinosaur skeletons.

In the final episode of our whale series, we learn about fecal plumes, shipping noise, and why "Moby-Dick" is still worth reading. (Part 3 of "Everything You Never Knew About Whaling.")

For years, whale oil was used as lighting fuel, industrial lubricant, and the main ingredient in (yum!) margarine. Whale meat was also on a few menus. But today, demand for whale products is at a historic low. And yet some countries still have a whaling industry. We find out why. (Part 2 of “Everything You Never Knew About Whaling.”)

Whaling was, in the words of one scholar, “early capitalism unleashed on the high seas.” How did the U.S. come to dominate the whale market? Why did whale hunting die out here — and continue to grow elsewhere? And is that whale vomit in your perfume? (Part 1 of “Everything You Never Knew About Whaling.”)

Actually, the reasons are pretty clear. The harder question is: Will we ever care enough to stop?

Sure, you were “in love.” But economists — using evidence from "Bridgerton" to Tinder — point to what’s called “assortative mating.” And it has some unpleasant consequences for society.

But as C.E.O. of the resurgent Microsoft, he is firmly at the center of the A.I. revolution. We speak with him about the perils and blessings of A.I., Google vs. Bing, the Microsoft succession plan — and why his favorite use of ChatGPT is translating poetry.

Probably not. The economist Kelly Shue argues that E.S.G. investing just gives more money to firms that are already green while depriving polluting firms of the financing they need to get greener. But she has a solution.

Gun control, abortion rights, drug legalization — it seems like every argument these days claims that if X happens, then Y will follow, and we’ll all be doomed to Z. Is the slippery-slope argument a valid logical construction or just a game of feelingsball?

He turned a small Hollywood talent agency into a massive sports-and-entertainment empire. In a freewheeling conversation, he explains how he did it and why it nearly killed him.

Sure, markets work well in general. But for some transactions — like school admissions and organ transplants — money alone can’t solve the problem. That’s when you need a market-design wizard like Al Roth. Plus: We hear from a listener who, inspired by this episode, made a remarkable decision.

Museums are purging their collections of looted treasures. Can they also get something in return? And what does it mean to be a museum in the 21st century? (Part 3 of “Stealing Art Is Easy. Giving It Back Is Hard.”)

The world’s great museums are full of art and artifacts that were plundered during an era when plunder was the norm. Now there’s a push to return these works to their rightful owners. Sounds simple, right? It's not. (Part 2 of “Stealing Art Is Easy. Giving It Back Is Hard.”)

How did a freshly looted Egyptian antiquity end up in the Metropolitan Museum of Art? Why did it take Kim Kardashian to crack the case? And how much of what you see in any museum is stolen? (Part 1 of “Stealing Art Is Easy. Giving It Back Is Hard.”)

Whether it’s a giant infrastructure plan or a humble kitchen renovation, it’ll inevitably take way too long and cost way too much. That’s because you suffer from “the planning fallacy.” (You also have an “optimism bias” and a bad case of overconfidence.) But don’t worry: we’ve got the solution.

Every language has its taboo words (which many people use all the time). But the list of forbidden words is always changing — and those changes tell us some surprising things about ourselves. Note: The swear words in this episode have been bleeped out. To hear a version of this episode without the bleeps, go to freakonomics.com.

Delaware is beloved by corporations, bankruptcy lawyers, tax avoiders, and money launderers. Critics say the Delaware “franchise” is undemocratic and corrupt. Insiders say it’s wildly efficient. We say: they’re both right.

Many companies say they want to create more opportunities for Black Americans. One company is doing something concrete about it. We visit the South Side of Chicago to see how it’s working out.

Every year, Americans short the I.R.S. nearly half a trillion dollars. Most ideas to increase compliance are more stick than carrot — scary letters, audits, and penalties. But what if we gave taxpayers a chance to allocate how their money is spent, or even bribed them with a thank-you gift?

In this installment of the Freakonomics Radio Book Club, the economist Amy Finkelstein explains why insurance markets are broken and how to fix them. Also: why can’t you buy divorce insurance?

People who are good at their jobs routinely get promoted into bigger jobs they’re bad at. We explain why firms keep producing incompetent managers — and why that’s unlikely to change.

Most travelers want the cheapest flight they can find. Airlines, meanwhile, need to manage volatile fuel costs, a pricey workforce, and complex logistics. So how do they make money — and how did America’s grubbiest airport suddenly turn into a palace? (Part 3 of “Freakonomics Radio Takes to the Skies.”)

Thanks to decades of work by airlines and regulators, plane crashes are nearly a thing of the past. Can we do the same for cars? (Part 2 of “Freakonomics Radio Takes to the Skies.”)

It’s an unnatural activity that has become normal. You’re stuck in a metal tube with hundreds of strangers (and strange smells), defying gravity and racing through the sky. But oh, the places you’ll go! We visit the world’s busiest airport to see how it all comes together. (Part 1 of “Freakonomics Radio Takes to the Skies.”)

Adam Smith famously argued that specialization is the key to prosperity. In the N.F.L., the long snapper is proof of that argument. Here’s everything there is to know about a job that didn’t used to exist.

Hotel guests adore those cute little soaps, but is it just a one-night stand? In our fourth episode of "The Economics of Everyday Things," Zachary Crockett discovers what happens to those soaps when we love ’em and leave ’em.

For decades, the U.S. let globalization run its course and hoped China would be an ally. Now the Biden administration is spending billions to bring high-tech manufacturing back home. Is this the beginning of a new industrial policy — or just another round of corporate welfare?

Can a hit single from four decades ago still pay the bills? Zachary Crockett f-f-f-finds out in the third episode of our newest podcast, "The Economics of Everyday Things."

The economist Kate Raworth says the aggressive pursuit of G.D.P. is trashing the planet and shortchanging too many people. She has proposed an alternative — and the city of Amsterdam is giving it a try. How's it going?

How does America's cutest sales force get billions of Thin Mints, Samoas, and Tagalongs into our hands every year? Zachary Crockett finds out in the second episode of our newest podcast, "The Economics of Everyday Things."

When small businesses get bought by big investors, the name may stay the same — but customers and employees can feel the difference. (Part 2 of 2.)

A new podcast hosted by Zachary Crockett. In the first episode: Gas stations. When gas prices skyrocket, do station owners get a windfall? And where do their profits really come from?

Big investors are buying up local veterinary practices (and pretty much everything else). What does this mean for scruffy little Max* — and for the U.S. economy? (Part 1 of 2.) *The most popular dog name in the U.S. in 2022.

And with her book "Salt, Fat, Acid, Heat," she succeeded. Now she's not so sure how to feel about all the attention.

We tend to look down on artists who can't match their breakthrough success. Should we be celebrating them instead?

In a special episode of No Stupid Questions, Stephen Dubner and Angela Duckworth discuss classroom design, open offices, and cognitive drift.

In this special episode of People I (Mostly) Admire, Steve Levitt talks to the best-selling author of "Sapiens" and "Homo Deus" about finding the profound in the obvious.

Labor exploitation! Corporate profiteering! Government corruption! The 21st century can look a lot like the 18th. In the final episode of a series, we turn to “the father of economics” for solutions. (Part 3 of “In Search of the Real Adam Smith.”)

Economists and politicians have turned him into a mascot for free-market ideology. Some on the left say the right has badly misread him. Prepare for a very Smithy tug of war. (Part 2 of “In Search of the Real Adam Smith.”)

A sneak peek at an upcoming series — and a call for would-be radio reporters.

How did an affable 18th-century “moral philosopher” become the patron saint of cutthroat capitalism? Does “the invisible hand” mean what everyone thinks it does? We travel to Smith’s hometown in Scotland to uncover the man behind the myth. (Part 1 of a series.)

In this special episode of Freakonomics, M.D., host Bapu Jena looks at a clever new study that could help answer one of parenting’s most contentious questions.

No — but he does have a knack for stumbling into the perfect moment, including the recent FTX debacle. In this installment of the Freakonomics Radio Book Club, we revisit the book that launched the analytics revolution.

It used to feel like magic. Now it can feel like a set of cheap tricks. Is the problem with Google — or with us?

The banana, once a luxury good, rose to become America’s favorite fruit. Now a deadly fungus threatens to wipe it out. Can it be saved?

It’s fun to obsess over pop stars and racecar drivers — but is fandom making our politics even more toxic?

The last two years have radically changed the way we work — producing winners, losers, and a lot of surprises.

It was supposed to boost prosperity and democracy at the same time. What really happened? According to the legal scholar Anthea Roberts, it depends which story you believe.