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!
Season 5, Episode 8
On this week’s episode of Freakonomics Radio, two interviews: first, former Fed chairman Ben Bernanke, who was handed the keys to the global economy just as it started heading off a cliff. And then Anne-Marie Slaughter, a former State Department adviser, who was best known for her adamant views on Syria when she accidentally became a poster girl for modern feminism.
Bernanke tells us what he knew and didn’t know about the state of the economy as the financial crisis began to unfold, and he explains what FDR got right and wrong during the Great Depression. Slaughter continues the heated national conversation sparked by her 2012 Atlantic essay “Why Women Still Can’t Have It All,” and we talk about her early warnings on Syria and what she’d suggest if she had the White House’s ear today.
Season 5, Episode 7
On this week’s episode of Freakonomics Radio, first: we’re not asking that using a public restroom be a pleasant experience, but are there ways to make it less miserable? And then: how did the belt, an organ-squeezing belly tourniquet, become part of our everyday wardrobe — and what other suboptimal solutions do we routinely put up with?
The gist: public bathrooms — when you can find one — are often noisy and poorly designed. In this episode, we explore the history of the public restroom, the taboos that accompany it, and the public-health risks of paying too little attention to the lowly toilet.
Season 5, Episode 6
On this week’s episode of Freakonomics Radio, a live game show with host Stephen Dubner, and judges Malcolm Gladwell, Ana Gasteyer, and David Paterson.
Audience members are invited onstage to tell us something we didn’t know. We learn a bit, laugh a lot, and as a bonus, each of the judges tell us something about themselves we didn’t know. You’ll learn how Malcolm Gladwell got fired from an internship with a prominent judge; how Ana Gasteyer watched Star Wars with a prominent family; and why Governor Paterson was desperate for O.J. Simpson’s famous Bronco chase to be cut short.
Season 5, Episode 5
In this week’s episode of Freakonomics Radio, we first explore whether some of the scientific ideas we cling to should be killed off; and then Stephen Dubner and Steven Levitt answer some listener questions.
The gist: Every year, Edge.org asks its salon of big thinkers to answer one big question. In 2014, the question bordered on heresy: what scientific idea is ready for retirement? Experts weigh in. And then Dubner and Levitt talk about fixing the post office, putting cameras in the classroom, and wearing hats.
Season 5, Episode 4
In part one (“Diamonds Are a Marriage Counselor’s Best Friend“), we meet Jason and Kristen Sarata, a couple who win a diamond at a charity event. But the two can’t agree on whether to sell the diamond or keep it. Luckily, investigative reporter Edward Jay Epstein has written an entire book about selling a diamond, and tells us it’s unclear whether diamonds are as valuable as Marilyn Monroe taught us to think they are.
Season 5, Episode 3
In part one (“How Many Doctors Does It Take to Start a Healthcare Revolution?”), we continue conversations from last week’s episode (“How Do We Know What Really Works in Healthcare?”). Anupam Jena, a physician, economist, and professor at Harvard Medical School, told us last week about his study that shows mortality rates improve when cardiologists are away at medical conferences. One possible explanation for his results, Jena says, is that many procedures, although highly effective, aren’t better than doing nothing in certain cases.
Season 5, Episode 2
In part one (“How Do We Know What Really Works in Healthcare?“), Freakonomics co-author Steve Levitt discussed the randomized control trial, or RCT, which he calls “the very best way to learn about the world around us.” Then Amy Finkelstein, a professor of economics at MIT, talks about using RCTs to explore healthcare delivery — and the “accidental” RCT she discovered when Oregon expanded Medicaid.
Season 5, Episode 1
In part one (When Willpower Isn’t Enough), the Penn professor Katherine Milkman tells us about “temptation bundling,” which means pairing something you don’t want to do (but need to do) with something you love to do (but perhaps shouldn’t do). For instance: allowing yourself to watch your favorite TV show only while working out at the gym. Or eating a cheeseburger only when you go to visit your least-favorite relative. In part two (The Maddest Men of All), the iconoclastic vice chairman of Ogilvy & Mather in the U.K., Rory Sutherland, tells us how marketers use behavioral economics to get us all to buy now and think later.
Season 4, Episode 5
The practice of tipping is one of the most irrational, un-economic behaviors we engage in. It’s not in our economic best-interest to tip; essentially we do it because it’s a social norm — a nicety. In this episode of Freakonomics Radio, Stephen Dubner looks at why we tip, what kinds of things can nudge tips upward, and what’s wrong with tipping overall. In the end, we wonder whether or not the practice of tipping should be eliminated altogether. Research shows that African American waiters make less in tips than people of other races, so tipping is a discriminatory practice. Later in the hour: if your parent has the gene for Huntington’s disease you have a 50% chance of getting it yourself. Huntington’s is a debilitating fatal disorder. People can do genetic testing to see if they will fall ill, yet only 5% of people choose to do so. Stephen Dubner talks to University of Chicago economist Emily Oster about her research on Huntington’s genetic testing, and the value of not knowing your fate.
Season 4, Episode 4
If you want to get rid of a nasty invasive pest, it might seem sensible to offer a bounty as a reward. But the problem is: nothing backfires quite like a bounty. In this episode of Freakonomics Radio, we look at bounties on snakes in Delhi, India; rats in Hanoi, Vietnam; and feral pigs in Fort Benning, Georgia. In each case, bounty seekers came up with creative ways to maximize their payoff – and pest populations grew. Stephen Dubner and Steve Levitt talk about how incentives don’t always work out the way we expect them to. Later in the hour, if you want to write a book about Winston Churchill, you are going to have to pay. The Churchill estate is intensely protective of Sir Winston’s copyright, so much so that if you write a book about him, you are likely to go into the red. Stephen Dubner talks about who owns words, and what it will cost you to write a book about Churchill.
Season 4, Episode 3
This episode of Freakonomics Radio explores our surprising propensity for spite. We discover the gruesome etymology of the phrase “cut off your nose to spite your face” (it involves Medieval nuns cutting off their noses to preserve their chastity). Stephen Dubner and economist Benedikt Herrmann talk about so-called “money-burning” lab experiments, in which people often choose to take money away from other participants – even when it means giving up some of their own cash. Also: why do we take pleasure in harming others? So much so that we’re willing to harm ourselves in the process? The answer may lie in our biology: Freakonomics Radio producer Katherine Wells talks with biologist E. O. Wilson about whether spite exists in nature. Later in the hour, we head to Bogota, Colombia, where the mayor used unconventional methods to bring order to the city: he hired mimes to mimic and embarrass people who were violating traffic laws — and it worked. Then, Stephen Dubner talks to Robert Cialdini, best known for his research on the psychology of persuasion, about how peer pressure, and good old fashioned shame, can greatly affect the way people behave.
Season 4, Episode 2
When Harvard professor Latanya Sweeney Googled her name one day, she noticed something strange: an ad for a background check website came up in the results, with the heading: “Latanya Sweeney, Arrested?” But she had never been arrested, and neither had the only other Latanya Sweeney in the U.S. So why did the ad suggest so? Thousands of Google searches later, Sweeney discovered that Googling traditionally black names is more likely to produce an ad suggestive of a criminal background. Why? In this episode of Freakonomics Radio, Stephen Dubner investigates the latest research on names. Steve Levitt talks about his groundbreaking research on names, economic status, and race. And University of Chicago economist Eric Oliver explains why a baby named “Cody” is more likely to belong to conservative parents, and why another named “Esme” was probably born to a pair of liberals.
Season 4, Episode 1
Women are different from men, by a lot, in some key areas. For example, data show that women don’t: drown, compete as hard, get struck by lightning, use the Internet, edit Wikipedia, engage in delinquent behavior, or file patents as much as men do – and these are just some of the examples. Another way women are different from men? They have made significant economic gains and yet they are less happy now than they were 30 years ago. So, how do we explain this paradox? In this episode of Freakonomics Radio, Stephen Dubner looks at some of the ways that women are not men. Later in the hour, Dubner talks to Harvard psychologist Steven Pinker about his research on the history of violence. Pinker has a surprising and counterintuitive thesis: violence has declined and the world is a much more peaceful place than it has ever been.
Season 3, Episode 5
Since the beginning of civilization, human waste has been considered worthless at best and quite often dangerous. What if it turns out we were wrong? In this episode of Freakonomics Radio, host Stephen Dubner explores the power of poop, focusing on an experimental procedure called a fecal transplant (some call it a “transpoosion”), which may offer promising results not only for intestinal problems but also obesity and neurological disorders. We’ll talk to two doctors at the vanguard of this procedure and a patient who says it changed his life.
Season 3, Episode 4
Is a college diploma really worth the paper it’s printed on? In this episode of Freakonomics Radio, host Stephen Dubner breaks down the costs and benefits of going to college, especially during an economy that’s leaving a lot of people un- and underemployed. The data say that college graduates make a lot more money in the long run and enjoy a host of other benefits as well. But does that justify the time and money? We’ll hear from economists David Card, Betsey Stevenson, and Justin Wolfers, as well as former Bush adviser Karl Rove, who made it to the White House without a college degree. Amherst College president Biddy Martin describes what an education provides beyond facts and figures, while Steve Levitt wonders if the students he teaches at the University of Chicago are actually learning anything. Finally, a former FBI agent tells us about the very robust market for fake diplomas.
Season 3, Episode 3
Until not so long ago, chicken feet were essentially waste material. Now they provide enough money to keep U.S. chicken producers in the black — by exporting 300,000 metric tons of chicken “paws” to China and Hong Kong each year. In the first part of this hour-long episode of Freakonomics Radio, host Stephen Dubner explores this and other examples of weird recycling. We hear the story of a Cleveland non-profit called MedWish, which ships unused or outdated hospital equipment to hospitals in poor countries around the world. We also hear Intellectual Ventures founder Nathan Myhrvold describe a new nuclear-power reactor that runs on radioactive waste.
Season 3, Episode 2
Americans are in the midst of a food paradox: we have access to more and better and cheaper food than ever before but at the same time, we are surrounded by junk food and a rise in obesity and heart disease. In this hour-long episode of Freakonomics Radio, host Stephen Dubner talks about our massive but balky food network with economist Tyler Cowen, who argues that agribusiness and commercialization are not nearly the villains that your foodie friends might have you think. We also hear from food author/philosopher Michael Pollan, who weighs in on a number of food topics and urges, along with chef Alice Waters, a renewed appreciation for the American farmer.
Season 3, Episode 1
Sometimes we have a hard time committing ourselves – whether it’s quitting a bad habit or following through on a worthy goal. In this episode of Freakonomics Radio, we share stories about “commitment devices.” They’re a clever way to force yourself to do something that you know will be hard. Host Stephen Dubner talks to a struggling gambler who signs himself up for a program that bans him from state casinos – only to return, win a jackpot, and have it confiscated. We’ll also hear from a new father trying to shed bad habits. So he makes a list of things he wants to change and vows to pay a penalty if he can’t shape up in 30 days. The penalty? He’d write a $750 check to someone he really dislikes: Oprah Winfrey. Freakonomics co-author Steve Levitt offers a few of his own off-the-wall commitment devices, and the Brown economist Anna Aizer talks about using commitment devices to fight domestic violence.
Season 2, Episode 5
Our latest podcast is called “Lottery Loopholes and Deadly Doctors.” (Download/subscribe at iTunes, get the RSS feed, listen via the media player above, or read the transcript below.) This is the final episode of five one-hour Freakonomics Radio specials that have been airing on public radio stations across the country. (Check here to find your local station.)
These hour-long programs are “mashupdates” — that is, mashups of earlier podcasts which we’ve also updated with new interviews, etc.
In two weeks, we’ll start releasing a series of brand new podcasts. Among the topics to listen for: the selling of souls, the value of college, and the strategic use of jerkitude (that is, acting like a jerk).
Season 2, Episode 4
We have just released our second series of five one-hour Freakonomics Radio specials to public-radio stations across the country. (Check here to find your local station.) Now these episodes are hitting our podcast stream as well. These shows are what might best be called “mashupdates” — that is, mashups of earlier podcasts with new interviews.
This week: “Eating and Tweeting.” (You download/subscribe at iTunes, get the RSS feed, listen via the media player above, or read the transcript below).
Season 2, Episode 3
We have just released our second series of five one-hour Freakonomics Radio specials to public-radio stations across the country. (Check here to find your local station.) Now these episodes are hitting our podcast stream as well. These shows are what might best be called “mashupdates” — that is, mashups of earlier podcasts which we’ve also updated with new interviews, etc.
This episode is called “The Power of the President — and the Thumb” (download/subscribe at iTunes, get the RSS feed, listen via the media player above, or read the transcript below). The first half is an overhaul of our 2010 podcast “How Much Does the President Really Matter?” We’ve mashed it up with our 2011 episode “Where Have All the Hitchhikers Gone?” to create an hour of radio that shows, among other things, how “attribution errors” work.
Season 2, Episode 2
We have just released a series of five one-hour Freakonomics Radio specials to public-radio stations across the country (check here to find your local station), and now they’re hitting our podcast stream as well. If you are a dedicated podcast subscriber, then some of this material will be familiar to you. These new shows are what might best be called “mashupdates” — that is, mashups of earlier podcasts that have also been updated with new interviews, etc.
Today’s episode is called “Show and Yell” (download/subscribe at iTunes, get the RSS feed, listen via the media player above, or read the transcript below).
Season 2, Episode 1
We have just released a new series of five one-hour Freakonomics Radio specials to public-radio stations across the country. (Check here for your local station.) These new shows are what might best be called “mashupdates” — that is, mashups of earlier podcasts that have also been updated with new interviews, etc.
If you are a charter subscriber to our podcast (remember this one on the dangers of safety, or this one on the obesity epidemic?), then some of this material will be familiar to you. If you are one of the people who have heard these new shows on the radio and wondered when they’d hit the podcast stream — well, that time is now. We’ll be releasing all five hours over the next ten weeks.
This first episode is called “The Days of Wine and Mouses.” (Download/subscribe at iTunes, get the RSS feed, listen via the media player above, or read the transcript below.) Here’s what you’ll be hearing:
When you take a sip of Cabernet, what are you tasting? The grape? The tannins? The oak barrel? Or is it the price? Believe it or not, the most dominant flavor may be the dollars.
Freakonomics Radio is a weekly podcast that also airs on public-radio stations across the country. Below is a sort-of-complete list of those stations (it changes periodically and we try to keep up); click on yours to find the day and time our show airs. And if your station isn’t on this list, call them immediately! Freakonomics Radio also airs on . . .
Season 1, Episode 5
You know the bromide: “a winner never quits, and a quitter never wins.”
To which Freakonomics Radio says … Are you sure? Sometimes quitting is strategic, and sometimes it can be your best possible plan.
That is the gist of our latest Freakonomics Radio podcast, “The Upside of Quitting.” This is the last of five hour-long podcasts we’ve been putting out lately. Some of you may have heard them on public-radio stations around the country, but now all the hours are being fed into our podcast stream. (You can download/subscribe at iTunes, get the RSS feed, listen live via the media player above, or read the transcript here.)
To help us understand quitting, we look at a couple of key economic concepts in this episode: sunk cost and opportunity cost. Sunk cost is about the past – it’s the time or money or sweat equity you’ve put into a job or relationship or a project, and which makes quitting hard. Opportunity cost is about the future. It means that for every hour or dollar you spend on one thing, you’re giving up the opportunity to spend that hour or dollar on something else – something that might make your life better. If only you weren’t so worried about the sunk cost. If only you could …. quit.
Season 1, Episode 4
Fact: Human beings love to predict the future.
Fact: Human beings are not very good at predicting the future.
Fact: Because the incentives to predict are quit imperfect — bad predictions are rarely punished — this situation is unlikely to change.
But wouldn’t it be nice if it did?
That is the gist of our latest hour-long special of Freakonomics Radio, called “The Folly of Prediction.” You can listen or download via the media player embedded inside the post, or read a transcript here. This program and four more hours are being broadcast on public-radio stations across the country this summer, and they’ll all wind up in our podcast stream in short course. See this map of where to find a public radio station near you that plays the show. And you can subscribe to the Freakonomics Radio podcast on iTunes or via RSS.
Season 1, Episode 3
If I were to ask you what’s more common in the U.S., homicide or suicide, what would you say?
Homicide is certainly a lot more prominent; it’s constantly in the headlines and in our public consciousness. But the fact is that suicide is more than twice as common as homicide. The preliminary numbers for 2009, the most recent year for which we have data, show there were roughly 36,500 suicides in the U.S. and roughly 16,500 homicides.
So why don’t we hear more about suicide? In part because it is a very different type of tragedy. Murder represents a fractured promise within our social contract, and it’s got an obvious villain. Suicide represents –- well, what does it represent? It’s hard to say. It carries such a strong taboo that most of us just don’t discuss it much. The result is that there are far more questions about suicide than answers. Like: do we do enough to prevent it? How do you prevent it? And the biggest question of all: why do people commit suicide?
Season 1, Episode 2
Our second hour-long episode of Freakonomics Radio is called “The Economist’s Guide to Parenting.” (You can listen or download via the link above, or read a transcript here. This episode and four more hours will be airing on public-radio stations across the country this summer at various times, so check out your local station’s website. And you can subscribe to the Freakonomics Radio podcast on iTunes or via RSS.)
I know what you’re thinking. You’re thinking what the **** — economists? What can economists possibly have to say about something as emotional, as nuanced, as humane, as parenting? Well, let me say this: because economists aren’t necessarily emotional (or, for that matter, all that nuanced or humane), maybe they’re exactly the people we need to sort this through. Maybe.
Season 1, Episode 1
About one-third of the companies in the Fortune 500 are family-controlled firms. Isn’t that amazing? Isn’t that fantastic?
You know the story. Some incredibly hard-working person starts a business – maybe a bakery or a brewery, a carmaker or a newspaper – and, against all odds, the business doesn’t just succeed; it flourishes. But someday, it’s inevitable that the founder will retire (or die). So who takes over then?
That’s easy: the founder’s son or daughter. The scion of the family. Who better to protect and grow the family brand?
Makes sense, doesn’t it? Who could possibly work harder than someone whose name is on the building?
The family firm is a way of life. And it’s a nice story. But we’ve got a big, hungry economy here, people. “Nice” doesn’t necessarily generate jobs; “nice” doesn’t increase productivity or spur innovation. So when it comes to putting the family scion in charge of a company, here’s what we wanted to know: what do the numbers say?
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