A Cheap Employee Is … a Cheap Employee: A New Marketplace Podcast

Our latest Freakonomics Radio on Marketplace podcast is called "A Cheap Employee Is ... a Cheap Employee." 

(You can download/subscribe at iTunes, get the RSS feed, listen via the media player above, or read the transcript below.)

It's about the question of whether low-paid employees are indeed a good deal for a retailer's bottom line as the conventional wisdom states.

The piece begins with a couple of stories from blog readers, Eric M. Jones and Jamie Crouthamel, which were solicited earlier here. (One of the true pleasures of operating this blog is having a channel by which to turn readers into radio guests -- thanks!)

Does Money Really Buy Elections? A New Marketplace Podcast

Mitt Romney won big in New Hampshire, but his opponents are vowing to push on in South Carolina. Which means stepping up their pleas for cash. In an e-mail to supporters, Rick Santorum wrote:

We must show real progress tonight and redouble our efforts ... That’s why my campaign launched the “Game On” Moneybomb, and why we need your help right now. As you already know, we are facing serious and well-funded opposition for the nomination.

That's the kind of language that confirms one of the biggest truisms in politics: money buys elections.

But how true is that truism?

What’s Wrong With Cash for Grades? A New Marketplace Podcast

Our latest Freakonomics Radio on Marketplace podcast is called “What's Wrong With Cash for Grades?”

(You can download/subscribe at iTunes, get the RSS feed, listen via the media player above, or read the transcript below.)

In it, Steve Levitt talks to Kai Ryssdal about whether it's effective to pay kids to do well in school. Levitt, along with John ListSusanne Neckermann, and Sally Sadoff, recently wrote up a working paper (PDF here) based on their field experiments in Chicago schools. Levitt blogged about the paper earlier; here's the Atlantic's take.

The Season of Death: A New Marketplace Podcast

Our latest Freakonomics Radio on Marketplace podcast is called “The Season of Death.” The gist: Summertime brings far too many fatal accidents. But the numbers may surprise you.

(You can download/subscribe at iTunes, get the RSS feed, listen via the media player above, or read the transcript below.)

If you're a longtime reader, you probably already have an idea of what we're talking about. Human beings are, in general, quite bad at assessing risk. We tend to be scared of big, noisy, anomalous events – like shark attacks, which in an average year kill fewer than five people worldwide -- while overlooking the seemingly quotidian reality of, say, drowning deaths (about 4,000 per year in the U.S. alone) and motorcycle fatalities (about 4,500 U.S. deaths annually). We have been exploring this idea since Freakonomics, where we asked whether a gun or a swimming pool is more "dangerous."

It’s Not the President, Stupid: A New Marketplace Podcast

Our latest Freakonomics Radio on Marketplace podcast is called “It’s Not the President, Stupid.” (You can download/subscribe at iTunes, get the RSS feed, listen via the media player above, or read the transcript below.) The gist: it's time to admit that the U.S. economy doesn’t have a commander-in-chief.

Over the years, we've regularly visited the question of how influential the president of the U.S. really is. This segment focuses on the president's influence over the economy -- which, if you believe polling data, will be the central concern for many voters as the 2012 election unfurls.

In this Marketplace segment, you'll hear from Austan Goolsbee, the University of Chicago economist who has served President Obama as both campaign adviser and chairman of the Council of Economic Advisers:

GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

The Hidden Cost of False Alarms: A New Marketplace Podcast

Our latest Freakonomics Radio on Marketplace podcast is called “The Hidden Cost of False Alarms.” (You can download/subscribe at iTunes, get the RSS feed, listen via the media player above, or read the transcript below.)  

The central facts: between 94 and 99 percent of burglar-alarm calls turn out to be false alarms, and false alarms make up between 10 and 20 percent of all calls to police.

There are at least three things to consider upon learning these facts:

1. If a particular medical screening had such a high false-positive rate, it would likely be considered worse than worthless; but:

2. With more than 2 million annual burglaries in the U.S., perhaps it's worth putting up with so many false positives in service of the greater deterrent; as long as:

3. The cost of all those false positives are borne by the right people.

Can you already figure out whether No. 3 is in fact the case?

A Rose By Any Other Distance: A New Marketplace Podcast

Our latest Freakonomics Radio on Marketplace podcast is called “A Rose By Any Other Distance." (You can download/subscribe at iTunes, get the RSS feed, listen via the media player above, or read the transcript below.)

With Mother's Day coming up, we thought it'd be interesting to look at the cut-flower industry. Americans spend about $12 billion a year on them. Mario Valle, a wholesaler at the L.A. Flower District, tells us that Mother's Day is easily his biggest day of the year: "It's 30 percent of my year. Everyone has a mother!"

The Perils of Drunk Walking: A New Marketplace Podcast

In our latest Freakonomics Radio on Marketplace podcast, Stephen Dubner looks at why the first decision you make in 2012 can be riskier than you think. (Download/subscribe at iTunes, get the RSS feed, listen via the media player above, or read the transcript.)

The risks of driving drunk are well-established; it's an incredibly dangerous thing to do, and produces massive collateral damage as well. So if you have a bit too much to drink over the holiday and think you'll do the smart thing and walk home instead -- well, that's not so smart after all. Steve Levitt has compared the risk of drunk walking with drunk driving and found that the former can potentially pose a greater risk:

Unnatural Turkeys: A New Marketplace Podcast

In our latest Freakonomics Radio on Marketplace podcast, we’re talking turkey, literally. (Download/subscribe at iTunes, get the RSS feed, listen live via the media player above, or read the transcript.) Americans are expected to eat more than 40 million of the big birds this month for Thanksgiving, so we asked the same question everyone's thinking: where do they all come from? The answer might surprise you – it certainly seemed to surprise Kai Ryssdal.

Specifically, the question is this: of all the commercially raised turkeys in the U.S., what percentage are the product of artificial insemination?

The answer, oddly enough, is 100 percent. Why? Well, it's a supply-and-demand story. Because Americans particularly love to eat turkey breast meat (a great delivery platform for gravy!), turkeys have been selectively bred over the years to have bigger and bigger breasts. So big, in fact, that when it comes time for a male turkey to naturally reproduce with a female, his massive breast prevents him from getting close enough to complete the act.

Should There Be a Hitchhiking Renaissance?

One of the greatest transportation resources out there is… your backseat. According to a U.S. Department of Transportation report, the average vehicle commuting to and from work has only 1.1 people it. This means that about 80 percent of car capacity goes unused. In a moment when we’re worrying about gas consumption and carbon emissions, […]