In 2014, Tesla’s Model S became the best-selling car in Norway ever for a one-month period. Not bad for a luxury electric vehicle whose base price in Norway is over $100,000. What’s behind this Tesla boom?
And then, hear our interview with the physician/anthropologist Jim Yong Kim. He used to advocate dismantling the World Bank; now he's running it — and is eager to apply the insights of behavioral economics to development policy.
Our previous Freakonomics Radio episode, "Hacking the World Bank," discussed how Jim Yong Kim, president of the World Bank, is using the insights of behavioral economics to fight poverty. Kim acknowledged that non-profits like the World Bank are playing catch-up:
KIM: If you were to go to Ogilvy or any of the big public-relations companies and give them this [new World Bank report on behavioralism], I think they would laugh at us in the sense that they would have been utilizing these insights very aggressively for a very long time.
This week -- voila! -- we have a story about how Ogilvy (& Mather), the global marketing and advertising giant, is indeed pushing the limits on how behavioral insights can be applied in the real world. The episode is called "The Maddest Men of All." (You can subscribe to the podcast at iTunes or elsewhere, get the RSS feed, or listen via the media player above. You can also read the transcript, which includes credits for the music you’ll hear in the episode.)
Since its inception in 1944, the World Bank, a multilateral organization charged with financing the development of poor nations, has been led by macroeconomists, bankers, and government insiders. The White House’s 2012 nomination of President Jim Yong Kim -- a physician, anthropologist, and academic who used to advocate dismantling the Bank -- broke the mold. He is the focus of our latest Freakonomics Radio podcast, "Hacking the World Bank." (You can subscribe to the podcast at iTunes or elsewhere, get the RSS feed, or listen via the media player above. You can also read the transcript, which includes credits for the music you’ll hear in the episode.)
In less than three years, Kim has overhauled the Bank and laid out ambitious goals -- including a 2030 deadline to rescue the more than 1 billion people who live in extreme poverty. Kim is also -- along with the Bank’s chief economist Kaushik Basu -- eager to apply the insights of behavioral economics to development policy. That is the focus of Kim's conversation today with Stephen Dubner.