Freakonomics Radio is a weekly podcast that is adapted for broadcast on public radio stations around the U.S. (check your local station’s schedule). If you heard our show on the radio and want to hear it again, or read a transcript of the original podcast episode, you can find your way to all of that in this archive. And if your public-radio station doesn’t carry Freakonomics Radio, give them a friendly nudge!
Ari Emanuel 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.
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?
After a huge false start, electric cars are finally about to flourish. We speak with a technology historian about this all-too-common story, and what it means for innovation everywhere.
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.”)
Air travel is 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.”)
In a new book called The Voltage Effect, the economist John List — who has already revolutionized how his profession does research — is trying to start a scaling revolution. In this installment of the Freakonomics Radio Book Club, List teaches us how to avoid false positives, how to know whether a given success is due to the chef or the ingredients, and how to practice “optimal quitting.”
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?
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.)
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.
We tend to look down on artists who can’t match their breakthrough success. Should we be celebrating them instead?
Economists and politicians have turned Adam Smith 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 3 of “In Search of the Real Adam Smith.”)
Economists and politicians have turned Adam Smith 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.”)
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 Adam Smith’s hometown in Scotland to uncover the man behind the myth. (Part 1 of a series.)
Arthur Brooks is an economist who for 10 years ran the American Enterprise Institute, one of the most influential conservative think tanks in the world. He has come to believe there is only one weapon that can defeat our extreme political polarization: love. Is Brooks a fool for thinking this — and are you perhaps his kind of fool?
The public has almost no chance to buy good tickets to the best events. Ticket brokers, meanwhile, make huge profits on the secondary markets. Here’s the story of how this market got so dysfunctional, how it can be fixed – and why it probably won’t be.
Evidence from Nazi Germany and 1940s 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.
Did Michael Lewis just get lucky with “Moneyball”? No — but he does have a knack for stumbling into the perfect moment, including the recent FTX debacle.
Is Google getting worse? 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.
Has globalization failed? 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.
Are personal finance gurus giving you bad advice? One Yale economist certainly thinks so. But even if he’s right, are economists any better?
New research finds that bosses who went to business school pay their workers less. So what are M.B.A. programs teaching — and should they stop?
The pandemic provided city dwellers with a break from the din of the modern world. Now the noise is coming back. What does that mean for our productivity, health, and basic sanity?
Liberals endorse harm reduction when it comes to the opioid epidemic. Are they ready to take the same approach to climate change?
The pandemic moved a lot of religious activity onto the internet. With faith-based apps, Silicon Valley is turning virtual prayers into earthly rewards. Does this mean sharing user data? Dear God, let’s hope not …
As the Biden administration rushes to address climate change, Stephen Dubner looks at another, hidden cost of air pollution — one that’s affecting how we think.
The controversial Harvard economist Roland Fryer, recently back from a suspension, “broke a lot of glass early in my career,” he says. His research on school incentives and police brutality won him acclaim — but also enemies. Now he’s taking a hard look at corporate diversity programs. The common thread in his work? “I refuse to not tell the truth.”
Should public transit be free? 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.
Is art really meant to be an “asset class”? Will the digital revolution finally democratize a market that just keeps getting more elitist? And what will happen to the last painting Alice Neel ever made? (Part 3 of “The Hidden Side of the Art Market.”)
The more successful an artist is, the more likely their work will later be resold at auction for a huge markup — and they receive nothing. Should that change? Also: why doesn’t contemporary art impact society the way music and film do? (Part 2 of “The Hidden Side of the Art Market.”)
The art market is so opaque and illiquid that it barely functions like a market at all. A handful of big names get all the headlines (and most of the dollars). Beneath the surface is a tangled web of dealers, curators, auction houses, speculators — and, of course, artists. In the first episode of a three-part series, we meet the key players and learn how an obscure, long-dead American painter suddenly became a superstar. (Part 1 of “The Hidden Side of the Art Market.”)
Does philosophy still matter? It used to be at the center of our conversations about politics and society. Scott Hershovitz (author of Nasty, Brutish, and Short) argues that philosophy still has a lot to say about work, justice, and parenthood. Our latest installment of the Freakonomics Radio Book Club.
Why did you marry that person? 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.
In one of the earliest Freakonomics Radio episodes, we asked a bunch of economists with young kids how they approached child-rearing. Now the kids are old enough to talk — and they have a lot to say. We hear about nature vs. nurture, capitalism vs. Marxism, and why you don’t tell your friends that your father is an economist.
Boosters say blockchain technology will usher in a brave new era of decentralization. Are they right — and would it be a dream or a nightmare? (Part 3 of “What Can Blockchain Do for You?“)
Are N.F.T.s all scams? Some of them are. With others, it’s more complicated (and more promising). We try to get past the Bored Apes and the ripoffs to see if we can find art on the blockchain. (Part 2 of “What Can Blockchain Do for You?“)
Does the crypto crash mean the blockchain is over? No. But now is a good time to sort out the potential from the hype. Whether you’re bullish, bearish, or just confused, we’re here to explain what the blockchain can do for you. (Part 1 of a series.)
Kevin Kelly calls himself “the most optimistic person in the world.” And he has a lot to say about parenting, travel, A.I., being luckier — and why we should spend way more time on YouTube.
When the world went into lockdown, experts predicted a rise in intimate-partner assaults. What actually happened was more complicated.
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 P.G.A. Tour. Can a sporting event really repair a country’s reputation — or will it trigger the dreaded Streisand Effect?
The social psychologist Robert Cialdini is a pioneer in the science of persuasion. His 1984 book Influence is a classic, and he has just published an expanded and revised edition. In this episode of The Freakonomics Radio Book Club, he gives a master class in the seven psychological levers that bewitch our rational minds and lead us to buy, behave, or believe without a second thought.
Educators and economists tell us all the reasons college enrollment has been dropping, especially for men, and how to stop the bleeding. (Part 4 of “Freakonomics Radio Goes Back to School.”)
As the Supreme Court considers overturning Roe v. Wade, we look back at Steve Levitt’s controversial research on an unintended consequence of the 1973 ruling.
Enrollment is down for the first time in memory, and critics complain college is too expensive, too elitist, and too politicized. The economist Chris Paxson — who happens to be the president of Brown University — does not agree. (Part 3 of “Freakonomics Radio Goes Back to School.”)
America’s top colleges are facing record demand. So why don’t they increase supply? (Part 2 of “Freakonomics Radio Goes Back to School.”)
We think of them as intellectual enclaves and the surest route to a better life. But U.S. colleges also operate like firms, trying to differentiate their products to win market share and prestige points. In the first episode of a special series, we ask what our chaotic system gets right — and wrong. (Part 1 of “Freakonomics Radio Goes Back to School.”)
The political scientist Yuen Yuen Ang argues that different forms of government create different styles of corruption. The U.S. and China have more in common than we’d like to admit — but Russia is a different story, which could explain its willingness to invade Ukraine.
Nearly 2 percent of America is grassy green. Sure, lawns are beautiful and useful and they smell great. But are the costs — financial, environmental and otherwise — worth the benefits?
The British art superstar Flora Yukhnovich, the Freakonomist Steve Levitt, and the upstart American Basketball Association were all unafraid to follow their joy — despite sneers from the Establishment. Should we all be more willing to embrace the déclassé?
After a huge false start, electric cars are finally about to flourish. We speak with a technology historian about this all-too-common story, and what it means for innovation everywhere.
Every year, there are more than a million collisions in the U.S. between drivers and deer. The result: hundreds of deaths, thousands of injuries, and billions in damages. Enter the wolf …
Organized labor hasn’t had this much public support in 50 years, and yet the percentage of Americans in a union is near a record low. A.F.L-C.I.O. president Liz Shuler tries to explain this gap — and persuade Stephen Dubner that “the folks who brought you the weekend” still have the leverage to fix a broken economy.
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.
In a new book called The Voltage Effect, the economist John List — who has already revolutionized how his profession does research — is trying to start a scaling revolution. In this installment of the Freakonomics Radio Book Club, List teaches us how to avoid false positives, how to know whether a given success is due to the chef or the ingredients, and how to practice “optimal quitting.”
Among O.E.C.D. nations, the U.S. has one of the highest rates of child poverty. Until recently, it looked as if Washington was about to change that. But then … Washington happened.
Frisco used to be just another sleepy bedroom community outside of Dallas. Now it’s got corporate headquarters, billions of investment dollars, and a bunch of Democrats in a place that used to be deep red. Is Frisco nothing more than a suburb on steroids — or is it the future of the American city?
When Stephen Dubner learned that Dallas–Fort Worth will soon overtake Chicago as the third-biggest metro area in the U.S., he got on a plane to find out why. Despite getting stood up by the mayor, nearly drowning on a highway, and eating way too much barbecue, he came away impressed. (Part 1 of 2 — because even podcasts are bigger in Texas.)
Adam Smith famously argued that specialization is the key to prosperity. In the N.F.L., the long snapper is proof of that argument. Just in time for the Super Bowl, here’s everything there is to know about a job that didn’t used to exist. To find out more, check out the podcasts from which this hour was drawn: “Why Does the . . .
Curses and other superstitions may have no basis in reality, but that doesn’t stop us from believing.
Is art really meant to be an “asset class”? Will the digital revolution finally democratize a market that just keeps getting more elitist? And what will happen to the last painting Alice Neel ever made? (Part 3 of “The Hidden Side of the Art Market.”) To find out more, check out the podcasts from which this hour was drawn: “‘The . . .
The more successful an artist is, the more likely their work will later be resold at auction for a huge markup — and they receive nothing. Should that change? Also: why doesn’t contemporary art impact society the way music and film do? (Part 2 of “The Hidden Side of the Art Market.”)
The art market is so opaque and illiquid that it barely functions like a market at all. A handful of big names get all the headlines (and most of the dollars). Beneath the surface is a tangled web of dealers, curators, auction houses, speculators — and, of course, artists. In this episode, we meet the key players and learn how an obscure, long-dead American painter suddenly became a superstar.
When Richard Thaler published Nudge in 2008 with co-author Cass Sunstein, the world was just starting to believe in his brand of behavioral economics. How did nudge theory hold up in the face of a global financial meltdown, a pandemic and other existential crises? With the publication of a new, radically updated edition, Thaler tries to persuade Stephen Dubner that nudging is more relevant today than ever.
According to a decades-long research project, the U.S. is not only the most individualistic country on earth; we’re also high on indulgence, short-term thinking, and masculinity (but low on “uncertainty avoidance,” if that makes you feel better). We look at how these traits affect our daily lives and why we couldn’t change them even if we wanted to.
We often look to other countries for smart policies on education, healthcare, infrastructure, etc. But can a smart policy be simply transplanted into a country as culturally unusual (and as supremely WEIRD) as America?
You know the saying: “There are no shortcuts in life.” What if that saying is just wrong? In his new book Thinking Better: The Art of the Shortcut in Math and Life, the mathematician Marcus du Sautoy argues that shortcuts can be applied to practically anything: music, psychotherapy, even politics. Our latest installment of the Freakonomics Radio Book Club.
Smart government policies, good industrial relations, and high-end products have helped German manufacturing beat back the threats of globalization.
The U.S. is home to seven of the world’s 10 biggest companies. How did that happen? The answer may come down to two little letters: V.C. Is venture capital good for society, or does it just help the rich get richer? Stephen Dubner invests the time to find out. To find out more, check out the podcasts from which this . . .
The pandemic may be winding down, but that doesn’t mean we’ll return to full-time commuting and packed office buildings. The greatest accidental experiment in the history of labor has lessons to teach us about productivity, flexibility, and even reversing the brain drain. But don’t buy another dozen pairs of sweatpants just yet. To find out more, check out the podcast . . .
Is the U.S. really less corrupt than China? A new book by an unorthodox political scientist argues that the two rivals have more in common than we’d like to admit. It’s just that most American corruption is essentially legal. To find out more, check out the podcasts from which this hour was drawn: “Is the U.S. Really Less Corrupt Than . . .
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. To find out more, check out the podcasts from which this hour was drawn: . . .
In one of the earliest Freakonomics Radio episodes (No. 39!), we asked a bunch of economists with young kids how they approached child-rearing. Now the kids are old enough to talk — and they have a lot to say. We hear about nature vs. nurture, capitalism vs. Marxism, and why you sometimes don’t tell your friends that your father is an economist. . . .
Should America be run by … Trader Joe’s? The quirky little grocery chain with California roots and German ownership has a lot to teach all of us about choice architecture, efficiency, frugality, collaboration, and team spirit. To find out more, check out the podcasts from which this hour was drawn: “Should America Be Run by … Trader Joe’s?” and No . . .
Arthur Brooks is an economist who for 10 years ran the American Enterprise Institute, one of the most influential conservative think tanks in the world. He has come to believe there is only one weapon that can defeat our extreme political polarization: love. Is Brooks a fool for thinking this — and are you perhaps his kind of fool? And: . . .
Breaking news! Sources say American journalism exploits our negativity bias to maximize profits, and social media algorithms add fuel to the fire. Stephen Dubner investigates. To find out more, check out the podcasts from which this hour was drawn: “Why Is U.S. Media So Negative?” and “Reasons to Be Cheerful.”
Do more expensive wines taste better? They should! It’s a cardinal rule: more expensive items are supposed to be qualitatively better than their cheaper versions. But is that true for wine? And: The state-by-state rollout of legalized weed has given economists a perfect natural experiment to measure its effects. Here’s what we know so far — and don’t know — about . . .
The U.S. is an outlier when it comes to policing, as evidenced by more than 1,000 fatal shootings by police each year. But we’re an outlier in other ways too: a heavily-armed populace, a fragile mental-health system, and the fact that we spend so much time in our cars. Add in a history of racism and it’s no surprise that . . .
Among O.E.C.D. nations, the U.S. has one of the highest rates of child poverty. How can that be? To find out, Stephen Dubner speaks with a Republican senator, a Democratic mayor, and a large cast of econo-nerds. Along the way, we hear some surprisingly good news: Washington is finally ready to attack the problem head-on. To find out more, check . . .
When Richard Thaler published Nudge in 2008 (with co-author Cass Sunstein), the world was just starting to believe in his brand of behavioral economics. How did nudge theory hold up in the face of a global financial meltdown, a pandemic, and other existential crises? With the publication of a new, radically updated edition, Thaler tries to persuade Stephen Dubner that nudging is . . .
Behavioral scientists have been exploring if — and when — a psychological reset can lead to lasting change. We survey evidence from the London Underground, Major League Baseball, and New Year’s resolutions; we look at accidental fresh starts, forced fresh starts, and fresh starts that backfire. And we wonder: will the pandemic’s end provide the biggest fresh start ever? To find . . .
For all the progress made in fighting cancer, it still kills 10 million people a year, and some types remain especially hard to detect and treat. Pancreatic cancer, for instance, is nearly always fatal. A new clinical-trial platform could change that by aligning institutions that typically compete against one another. To find out more, check out the podcasts from which . . .
Air pollution is estimated to cause 7 million deaths a year and cost the global economy nearly $3 trillion. But is the true cost even higher? Stephen Dubner explores the links between pollution and cognitive function, and enlists two fellow Freakonomics Radio Network hosts in a homegrown experiment. To find out more, check out the podcasts from which this hour . . .
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? To find out more, check out the podcast from which this hour was drawn: “Should Traffic Lights Be Abolished?”
While other countries seem to build spectacular bridges, dams, and even entire cities with ease, the U.S. is stuck in pothole-fixing mode. We speak with an array of transportation nerds — including the secretary of transportation and his immediate predecessor — to see if a massive federal infrastructure package can put America back in the driver’s seat. To find out more, check . . .
According to a decades-long research project, the U.S. is not only the most individualistic country on earth; we’re also high on indulgence, short-term thinking, and masculinity (but low on “uncertainty avoidance,” if that makes you feel better). We look at how these traits affect our daily lives and why we couldn’t change them even if we wanted to. To find . . .
We often look to other countries for smart policies on education, healthcare, infrastructure, etc. But can a smart policy be simply transplanted into a country as culturally unusual (and as supremely WEIRD) as America? To find out more, check out the podcast from which this hour was drawn: “The U.S. Is Just Different — So Let’s Stop Pretending We’re Not.”
They can’t vote or hire lobbyists. The policies we create to help them aren’t always so helpful. Consider the car seat: parents hate it, the safety data are unconvincing, and new evidence suggests an unintended consequence that is as anti-child as it gets. To find out more, check out the podcasts from which this hour was drawn: “How Much Do . . .
The benefits of sleep are by now well established, and yet many people don’t get enough. A new study suggests we should channel our inner toddler and get 30 minutes of shut-eye in the afternoon. But are we ready for a napping revolution? To find out more, check out the podcasts from which this hour was drawn: “Nap Time for . . .
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