Freakonomics Radio

Austan Goolsbee, president of the Federal Reserve Bank of Chicago, is less reserved than the average banker. He explains why vibes are overrated, why the Fed’s independence is non-negotiable, and why tariffs could bring the economy back to the Covid era. SOURCES:Austan Goolsbee RESOURCES:Internet Rising, Prices Falling: Measuring Inflation in a World of E-Commerce(American Economic Association Papers and Proceedings,Microeconomics, Does the Internet Make Markets More Competitive? Evidence from the Life Insurance Industry(Journal of Political Economy,Survey of Consumers(University of Michigan).Adobe Digital Price Index EXTRAS:Was Austan Goolsbee’s First Visit to the Oval Office Almost His Last?People I (Mostly) Admire Is $2 Trillion the Right Medicine for a Sick Economy?Freakonomics Radio Fed Up,Freakonomics Radio Why the Trump Tax Cuts Are Terrible/Awesome (Part 2)Freakonomics Radio Ben Bernanke Gives Himself a GradeFreakonomics Radio Should the U.S. Merge With Mexico?Freakonomics Radio

Just beneath the surface of the global economy, there is a hidden layer of dealmakers for whom war, chaos, and sanctions can be a great business opportunity. Javier Blas and Jack Farchy, the authors of The World for Sale, help us shine a light on the shadowy realm of commodity traders. SOURCES:Javier BlasJack Farchy RESOURCES:The World For Sale: Money, Power, and the Traders Who Barter the Earth's Resources, The King of Oil: The Secret Lives of Marc Rich, EXTRAS:How the Supermarket Helped America Win the Cold War (Update)Freakonomics Radio The First Great American IndustryFreakonomics Radio

Everyone makes mistakes. How do we learn from them? Lessons from the classroom, the Air Force, and the world’s deadliest infectious disease. SOURCES:Will ColemanAmy EdmondsonBabak JavidGary KleinTheresa MacPhailRoy ShalemSamuel West RESOURCES:A Golf Club Urinal, Colgate Lasagna and the Bitter Fight Over the Museum of Failure(Wall Street Journal,Right Kind of Wrong: The Science of Failing Well, You Think Failure Is Hard? So Is Learning From ItPerspectives on Psychological Science, The Market for R&D FailuresSSRN, Performing a Project PremortemHarvard Business Review, EXTRAS:The Deadliest Disease in Human HistoryPeople I (Mostly) Admire How to Succeed at FailingFreakonomics Radio Moncef Slaoui: ‘It’s Unfortunate That It Takes a Crisis for This to HappenPeople I (Mostly) Admire

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. SOURCES:John BoykinAngela DuckworthNo Stupid QuestionsAmy EdmondsonHelen FisherEric von Hippel,Jill HoffmanGary KleinSteve LevittPeople I (Mostly) AdmireFreakonomicsJoseph O’ConnellMike RidgemanMelanie StefanTravis Thul RESOURCES:Data Snapshot: Tenure and Contingency in US Higher EducationAmerican Association of University ProfessorsGrit: The Power of Passion and Perseverance, Entrepreneurship and the U.S. EconomyA C.V. of FailuresNature, Ramen Now! EXTRAS: How to Succeed at FailingFreakonomics Radio Annie Duke Thinks You Should QuitPeople I (Mostly) Admire How Do You Know When It’s Time to Quit?No Stupid Questions Honey, I Grew the Economy,Freakonomics Radio The Upside of QuittingFreakonomics Radio

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. SOURCES:Amy EdmondsonCarole HemmelgarnGary KleinRobert LangerJohn Van Reenen RESOURCES:Right Kind of Wrong: The Science of Failing Well, Reconsidering the Application of Systems Thinking in Healthcare: The RaDonda Vaught CaseBritish Journal of Anaesthesia, Estimates of preventable hospital deaths are too high, new study shows(Yale News,Dispelling the Myth That Organizations Learn From FailureSSRN, A New, Evidence-Based Estimate of Patient Harms Associated With Hospital CareJournal of Patient Safety, To Err is Human: Building a Safer Health System, Polymers for the Sustained Release of Proteins and Other MacromoleculesNature, The Innovation and Diffusion Podcast, EXTRAS:The Curious, Brilliant, Vanishing Mr. FeynmanFreakonomics Radio Will a Covid-19 Vaccine Change the Future of Medical Research?Freakonomics Radio Bad Medicine, Part 3: Death by DiagnosisFreakonomics Radio

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. SOURCES:Amy EdmondsonHelen FisherEd GaleaGary KleinDavid RiedmanAaron StarkJohn Van Reenen RESOURCES:Ethan Crumbley: Parents of Michigan school gunman sentenced to at least 10 years(New York Times,Right Kind of Wrong: The Science of Failing Well, How Fire Turned Lahaina Into a Death TrapThe New York Times, The Violence Project: How to Stop a Mass Shooting Epidemic, I Was Almost A School ShooterTEDxBoulder, EXTRAS: Is Perfectionism Ruining Your Life?People I (Mostly) Admire Why Did You Marry That Person?Freakonomics Radio What Do We Really Learn From Failure?No Stupid Questions How to Fail Like a ProFreakonomics Radio Failure Is Your FriendFreakonomics Radio

It used to be that making documentary films meant taking a vow of poverty (and obscurity). The streaming revolution changed that. Award-winning filmmaker R.J. Cutler talks to Stephen Dubner about capturing Billie Eilish’s musical genius and Martha Stewart’s vulnerability — and why he really, really, really needs to make a film about the New York Mets. SOURCES:R.J. Cutler RESOURCES:Fight for Glory, Martha, Reality Check: The Boom—or Glut—in Streaming Documentaries Has Sparked a Reckoning Among Filmmakers and Their Subjects(Vulture,Inside the Documentary Cash Grab(The Hollywood Reporter,Billie Eilish: The World’s a Little Blurry, EXTRAS:Ari Emanuel Is Never Indifferent,Freakonomics Radio

It’s been in development for five years and has at least a year to go. On the eve of its out-of-town debut, the actor playing Lincoln quit. And the producers still need to raise another $15 million to bring the show to New York. There really is no business like show business. (Part three of a three-part series.) SOURCES:Christopher AshleyDebby BuchholzCarmen CusackQuentin Earl DarringtonJoe DiPietroCrystal Monee Hall.Ivan HernandezMichael RushtonJeffrey SellerAlan Shorr.Daniel Watts. RESOURCES:3 Summers of Lincoln Review: Visceral ‘3 Summers of Lincoln’ is thrilling and thought-provoking(San Diego Union-Tribune,What’s Wrong with the Theatre is What’s Wrong With Society,(ArtsJournal,American Theater Is Imploding Before Our Eyes(New York Times,The Moral Foundations of Public Funding for the Arts, EXTRAS:How to Make the Coolest Show on BroadwayFreakonomics RadioYou Can Make a Killing, but Not a LivingFreakonomics Radio

In an episode from 2012, we looked at what Sleep No More and the Stanford Prison Experiment can tell us about who we really are. SOURCES:Felix BarrettSteven LevittPhilip Zimbardo RESOURCES:Philip Zimbardo, the psychologist behind the ‘Stanford Prison Experiment,’ dies at 91,Stanford Report, Debunking the Stanford Prison Experiment,American Psychologist, The Lifespan of a Lie,GEN, Punchdrunk EXTRAS:How Is Live Theater Still Alive?Freakonomics Radio

A hit like Hamilton can come from nowhere while a sure bet can lose $20 million in a flash. We speak with some of the biggest producers in the game — Sonia Friedman, Jeffrey Seller, Hal Luftig — and learn that there is only one guarantee: the theater owners always win. (Part two of a three-part series.) SOURCES:Debby BuchholzSonia FriedmanRocco LandesmanHal LuftigLuis Miranda Jr.Michael RushtonJeffrey SellerRichard WinklerStacy Wolf RESOURCES:Theater Kid: A Broadway Memoir, Relentless: My Story of the Latino Spirit That Is Transforming America, Beyond Broadway: The Pleasure and Promise of Musical Theatre Across America, ‘Hamilton’ Inc.: The Path to a Billion-Dollar Broadway Show(New York Times,On the Performing Arts: The Anatomy of Their Economic Problems(The American Economic Review, EXTRAS:How to Make the Coolest Show on BroadwayFreakonomics RadioYou Can Make a Killing, but Not a LivingFreakonomics Radio

It has become fiendishly expensive to produce, and has more competition than ever. And yet the believers still believe. Why? And does the world really want a new musical about ... Abraham Lincoln?! (Part one of a three-part series.) SOURCES:Christopher AshleyQuentin DarringtonJoe DiPietroCrystal Monee HallRocco LandesmanAlan ShorrDaniel WattsRichard Winkler RESOURCES:3 Summers of LincolnLive Performance Theaters in the US - Market Research Report (2014-2029)Leadership: In Turbulent TimesBig River EXTRAS:How to Make the Coolest Show on BroadwayFreakonomics RadioYou Can Make a Killing, but Not a LivingFreakonomics Radio

Why do so many promising solutions in education, medicine, and criminal justice fail to scale up into great policy? And can a new breed of “implementation scientists” crack the code? SOURCES:Patti ChamberlainJohn ListLauren SuppleeDana L. Suskind RESOURCES:How Can Experiments Play a Greater Role in Public Policy? 12 Proposals from an Economic Model of ScalingThe Science of Using Science: Towards an Understanding of the Threats to Scaling ExperimentsThe Field Experiments WebsiteInconsistent Device Use in Pediatric Cochlear Implant Users: Prevalence and Risk FactorsU.S. National Library of Medicine National Institutes of Health EXTRAS:Why Do Most Ideas Fail to Scale?Freakonomics Radio The Price of Doing Business with John List,People I (Mostly) Admire Child Trends.Oregon Social Learning Center.T.M.W. Center for Early Learning and Public Health.The Field Experiments Website

There is no sludgier place in America than Washington, D.C. But there are signs of a change. We’ll hear about this progress — and ask where Elon Musk and DOGE fit in. (Part two of a two-part series.) SOURCES:Benjamin HandelNeale MahoneyJennifer PahlkaRichard Thaler RESOURCES:How Big Is the Subscription Cancellation Problem?(Briefing Book,Recoding America: Why Government Is Failing in the Digital Age and How We Can Do BetterNudge: The Final Edition,HealthCare.gov: Case Study of CMS Management of the Federal Marketplace(U.S. Department of Health and Human Services, EXTRAS:Sludge, Part 1: The World Is Drowning in ItFreakonomics Radio

Insurance forms that make no sense. Subscriptions that can’t be cancelled. A never-ending blizzard of automated notifications. Where does all this sludge come from — and how much is it costing us? (Part one of a two-part series.) SOURCES:Benjamin Handel,Neale Mahoney,Richard Thaler, RESOURCES:Selling Subscriptions,(Stanford University,The ‘Enshittification’ of TikTok,(WIRED,Dominated Options in Health Insurance Plans,(American Economic Journal: Economic Policy,Nudge (The Final Edition),Frictions or Mental Gaps: What’s Behind the Information We (Don’t) Use and When Do We Care?(Journal of Economic Perspectives,Adverse Selection and Switching Costs in Health Insurance Markets: When Nudging Hurts,(National Bureau of Economic Research, EXTRAS:People Aren’t Dumb. The World Is Hard. (Update)Freakonomics Radio All You Need is Nudge,Freakonomics Radio How to Fix the Hot Mess of U.S. Healthcare,Freakonomics Radio Should We Really Behave Like Economists Say We Do?Freakonomics Radio

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. SOURCES:Kirk DesErmiaMark GardinerSheena IyengarMichael Roberto RESOURCES:Trader Joe’sHarvard Business School Case, What Brands Are Actually Behind Trader Joe’s Snacks?Eater,Build a Brand Like Trader Joe’s When Choice is Demotivating: Can One Desire Too Much of a Good Thing?Journal of Personality and Social Psychology, Unlocking Creativity, EXTRAS:How Can This Possibly Be True?Freakonomics Radio How to Save $1 Billion Without Even Trying Freakonomics Radio

Nearly everything that politicians say about taxes is at least half a lie. They are also dishonest when it comes to the national debt. Stephen Dubner finds one of the few people in Washington who is willing to tell the truth — and it’s even worse than you think. SOURCES:Jessica Riedl, RESOURCES:The House Wants to Pass Trump’s Agenda in One Big Bill. Here’s What’s in It.(New York Times,Correcting the Top 10 Tax Myths,(Manhattan Institute,Spending, Taxes, and Deficits: A Book of Charts,(Manhattan Institute,Why Did Americans Stop Caring About the National Debt?(Reason,A Comprehensive Federal Budget Plan to Avert a Debt Crisis,(Manhattan Institute,When Does Federal Debt Reach Unsustainable Levels?(The Wharton School of Business,The Limits of Taxing the Rich,(Manhattan Institute, EXTRAS:Farewell to a Generational Talent,Freakonomics Radio

Lina Khan, the youngest F.T.C. chair in history, reset U.S. antitrust policy by thwarting mega-mergers and other monopolistic behavior. This earned her enemies in some places, and big fans in others — including the Trump administration. Stephen Dubner speaks with Khan about her tactics, her track record, and her future. SOURCES:Lina Khan, RESOURCES:Merger Guidelines(U.S. Department of Justice and the Federal Trade Commission,The Rise of Market Power and the Macroeconomic Implications,(National Bureau of Economic Research,US Antitrust Law and Policy in Historical Perspective,(Harvard Business School,The Curse of Bigness: Antitrust in the New Gilded Age, Amazon’s Antitrust Paradox,(Yale Law Journal,A Tempest In a Coffee Shop,(New York Times, EXTRAS:The Economics of Eyeglasses,Freakonomics Radio Should You Trust Private Equity to Take Care of Your Dog?Freakonomics Radio Are Private Equity Firms Plundering the U.S. Economy?Freakonomics Radio Is the U.S. Really Less Corrupt Than China — and How About Russia? (Update)Freakonomics Radio

It’s a powerful biological response that has preserved our species for millennia. But now it may be keeping us from pursuing strategies that would improve the environment, the economy, even our own health. So is it time to dial down our disgust reflex? You can help fix things — as Stephen Dubner does in this 2021 episode — by chowing down on some delicious insects. SOURCES:Paul Rozin,Val CurtisSandro AmbuehlEmily Kimmins, RESOURCES:Stink Bugs Could Add Cilantro Flavor to Red WinLive Science, Edible insects: Future Prospects for Food and Feed SecurityUnited Nations, I Hate to Break it to You, but You Already Eat BugsScientific American, Five Banned Foods and One That Maybe Should BeSmithsonian Magazine, Effects of Different Types of Antismoking Ads on Reducing Disparities in Smoking Cessation Among Socioeconomic SubgroupsAmerican Journal of Public Health, Flesh TradeThe New York Times, Feeding Poultry Litter to Beef CattleUniversity of Missouri, EXTRAS:Why Does Everyone Hate Rats?Freakonomics Radio

To most people, the rat is vile and villainous. But not to everyone! We hear from a scientist who befriended rats and another who worked with them in the lab — and from the animator who made one the hero of a Pixar blockbuster. (Part three of a three-part series, “Sympathy for the Rat.”) SOURCES:Bethany BrookshirePests: How Humans Create Animal VillainsJan Pinkava,Julia Zichello, RESOURCES:Weekend Column: Rat’s End, or, How a Rat Dies,(West Side Rag,Pests: How Humans Create Animal Villains Rats: the history of an incendiary cartoon trope,(The Guardian,Catching the Rat: Understanding Multiple and Contradictory Human-Rat Relations as Situated Practices,(Society & Animals,Effects of Chronic Methylphenidate on Dopamine/Serotonin Interactions in the Mesolimbic DA System of the Mouse,(Wake Forest University,A New Deal For Mice,(Scientific American,

Even with a new rat czar, an arsenal of poisons, and a fleet of new garbage trucks, it won’t be easy — because, at root, the enemy is us. (Part two of a three-part series, “Sympathy for the Rat.”) SOURCES:Kathy Corradi,Robert Corrigan,Ed Glaeser,Robert Sullivan,Rats: Observations on the History and Habitat of the City’s Most Unwanted Inhabitant.Jessica Tisch, RESOURCES:Increasing rat numbers in cities are linked to climate warming, urbanization, and human population,(Science Advances,The Next Frontier in New York's War on Rats: Birth Control,(New York Times,The Absurd Problem of New York City Trash,(New York Times,Mourning Flaco, the Owl Who Escaped,(The New Yorker,Rats: Observations on the History & Habitat of the City's Most Unwanted Inhabitants, EXTRAS:The Downside of Disgust,Freakonomics Radio