Is capitalism the engine of destruction or the engine of prosperity? On this podcast we talk about the ways capitalism is—or more often isn’t—working in our world today. Hosted by Vanity Fair contributing editor, Bethany McLean and world renowned economics professor Luigi Zingales, we explain how capitalism can go wrong, and what we can do to fix it. Cover photo attributions: https://www.chicagobooth.edu/research/stigler/about/capitalisnt. If you would like to send us feedback, suggestions f ...
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With all the noise created by a 24/7 news cycle, it can be hard to really grasp what's going on in politics today. We provide a fresh perspective on the biggest political stories not through opinion and anecdotes, but rigorous scholarship, massive data sets and a deep knowledge of theory. Understand the political science beyond the headlines with Harris School of Public Policy Professors William Howell, Anthony Fowler and Wioletta Dziuda. Our show is part of the University of Chicago Podcast ...
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Rights matter, but conversations about rights can be polarizing, confusing and frustrating. Lawyers and law professors Claudia Flores and Tom Ginsburg have traveled the world getting into the weeds of global human rights debates. On Entitled, they use that expertise to explore the stories and thorny questions around why rights matter and what’s the matter with rights. Entitled is produced with the support of University of Chicago Law School and Yale Law School, and is part of the award winni ...
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Capitalism-Was: What Happened to the American Dream? With David Leonhardt
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Is the famed American Dream still attainable for the immigrants and working class of today? What made America the land of opportunity — and if it isn't the same anymore, what happened to it? Joining co-hosts Bethany and Luigi to discuss these questions is David Leonhardt, Pulitzer Prize-winning journalist and author of "Ours Was the Shining Future.…
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Does The Public View The Supreme Court As Legitimate In A Post-Dobbs World ?
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The Supreme Court is supposed to be our non-political branch of government, making decisions solely on the constitutional soundness of laws. But in recent years it appears as though the Court has taken a shift to the right, most notably in the Dobbs decision in 2022. Which raises a question: does the public still the view the Court as legitimate? T…
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The Money Behind Ultra-Processed Foods, with Marion Nestle
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Critics of the food industry allege that it relentlessly pursues profits at the expense of public health. They claim that food companies "ultra-process" products with salt, sugar, fats, and artificial additives, employ advanced marketing tactics to manipulate and hook consumers, and are ultimately responsible for a global epidemic of health ailment…
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If the media is to be believed, the US public has a tenuous at best grasp on accurate political news. They’re either consuming disinformation and fake news on social media or following biasedly inaccurate news outlets. Either journalistic truth is as good as dead or we’re living in separate informational universes. But is this too alarmist, could t…
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Over the last few weeks, university politics has captured headlines as students across the country occupy sections of their campuses and demand that their schools divest from Israel in protest of its contentious war in Gaza. Last week for Compact Magazine, Luigi and Nobel Laureate Oliver Hart stressed that one lesson from these protests is that uni…
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The word apartheid gets used in many different contexts to indicate the severity of crimes across the globe. But its use is controversial because the word has a very specific definition in international law. Even more controversial is the concept of expanding the term to include gender. If there is one place on earth where it could be argued that a…
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Is Partisan Animosity Directed At Fellow Citizens Or Elites?
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There is a fact of our political discourse so agreed upon that nobody thinks to question it: affective polarization…democrats and republicans disliking each other...has been getting worse, much worse. But what if that belief is actually based on polls measuring the wrong thing? That’s the argument made by Northwestern Political Scientist James Druc…
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Is Private Credit In The Public Interest? with Jim Grant
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The meteoric rise of private credit over the last decade has raised concerns among banks about unfair competition and among regulators about risks to financial stability. Historically, regulated banks have provided most of the credit that finances businesses in the United States. However, since the 2008 financial crisis, banks have restricted their…
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How do we know if our democracy is healthy? For political scientist, the answer often comes down to things we can measure like responsiveness to voter’s wishes. But is that really the right thing to measure? There are two camps in this debate. The empiricists want to focus on what and how we can measure things like the health of our democracy, ofte…
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"The only true aging is the erosion of one's ideals," says Ralph Nader, the former third-party presidential candidate who just turned 90 after more than 60 years of consumer advocacy and fighting for small business in America. From influencing the transformative passage of car safety legislation to advancing numerous environmental protection and pu…
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Are Too Many Political Appointments Harming Our Bureaucracy?
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When it comes to our federal bureaucracy, there are two schools of thought. One says that an insulated group of career bureaucrats have created a deep state that corrupts the performance of government. The other says that our bureaucracy is dysfunctional because there is too much turnover or positions left vacant. Both rest on an underlying feature…
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In recent years, book bans have swept the nation. According to PEN America, more than 4,000 books have been banned in some capacity in public schools since July 2021. Books that discuss topics like racial justice or have characters that identify as LGBTQ+ are just some of the examples that have received widespread attention. While book bans are not…
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Given the recent mass layoffs, acceleration of media consolidation, continued decline of local journalism, and rapid uptake of generative AI, the news industry—fundamental to institutional accountability in capitalist democracies—appears to be in deep crisis. Joining Bethany and Luigi to make the case that journalism can not only survive but thrive…
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There is a long running debate in political science: do we get better judges by letting the public vote in elections or by giving our leaders the power to appoint them? One side says that judges should be insulated from the influence of politics involved in elections, focusing entirely on the rule of law. The other side says that our judges should …
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Poverty in America: Terrible Scourge or a Measurement Error?
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Perhaps the biggest evidence that capitalism in America doesn’t work, at least not for everyone, is growing income inequality and the persistence of poverty. But what is the current state of poverty and inequality in the United States? Why do debates still persist about whether poverty has been eradicated? What do the numbers and official statistic…
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Why Women Are Underrepresented in U.S. Politics
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Despite making up roughly half of the U.S. population, women only make up about one-quarter of representatives and senators. And this trend is not just national—it holds true globally as well. What explains why women are underrepresented in politics? If women are just as likely to win elections as men do, then why are they less likely to run for of…
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As kids, we all heard someone tell us that it's wrong to lie...but as we grew older, we realized that people lie all the time. Politicians, presidents, and even executives at corporations tell lies—big and small. As citizens, there are obvious exceptions where lying is wrong, for instance; perjury, lying on your employment application, or lying to …
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When a Few Financial Institutions Control Everything, with John Coates
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In his recent book, "The Problem of Twelve: When a Few Financial Institutions Control Everything," Harvard law professor John Coates sheds light on the secrecy, lack of public accountability, concentrated power, and the disproportionate influence of a select few institutions in our financial system. Coates joins Bethany and Luigi to dissect the pot…
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When it comes to passing actual legislation, putting it forward and getting it all the way through the process, it can be difficult to measure exactly which legislators are effective. Not to mention which types of legislators tend to be more effective, moderates or extremists? And does majority-party membership increase effectives? In an innovative…
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The Wall Street Journal wrote that “Wall Street's best-known bear is going into hibernation" after the legendary short seller Jim Chanos announced he would close his main hedge funds late last year, in part due to diminishing interest in stock picking. Short selling, which bets on drops in asset prices, wins when companies and governments fail and …
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Do Conservatives Sabotage The Administrative State?
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When we talk about the interpretation and ultimately implementation of policy we’re not talking about Congress so much as the Administrative State. But what happens when those who work in those agencies decide through their positions to not only sabotage a policy they’re meant to carry out, but perhaps the whole agency? In a recent paper titled “Ad…
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According to the latest industry statistics, the global influencer economy grew from $1.7 billion in 2016 to $21.1 billion in 2023 — and it's only expected to grow exponentially from here with advances in artificial intelligence. In 1988, Noam Chomsky and Edward S. Herman investigated how mass media sways audiences to conform to social norms withou…
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We’re doing something special for this month’s episode. In October of 2023, we hosted a live recording here at the University of Chicago. Tom Ginsburg was joined on stage by renowned scholar Genevie Laikier to have a conversation about free speech on social media. In other words, it was very relevant to our current season about the right to free ex…
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Who Gets Heard On Redistribution, The Rich Or Poor?
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When we talk about policy choices around redistribution there is an assumption so obvious that most people never question it. That politicians are more responsive to the desires of the rich, and that policy preferences of the poor don’t hold as much sway. But what if that assumption was wrong? In a recent paper by Boston University Economist Raymon…
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The Capitalisn't of Banking, with Anat Admati
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It's been nearly 16 years since the federal government bailed out Wall Street to the tune of $700 billion in response to the financial crisis that precipitated the Great Recession. The idea that the public must guarantee critical financial institutions that are “too big to fail” was controversial then, but does it still remain an issue? Stanford fi…
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Hello listeners! Our team took some end of the year time off, but we know your holiday travel wouldn’t be complete without some in-depth political science research. So, we’re release some episodes we think are going to be very relevant as we move into an election year. And thanks to everyone who listened to our podcast this year. We don’t make mone…
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After two seasons and 163 episodes, Capitalisn’t hosted its first-ever live event late last year. As part of the University of Chicago Podcast Festival, co-host Luigi Zingales fielded questions from three UChicago undergraduate students — Surya Gowda, Mete Bakircioglu, and Giuseppe Di Cera —and an in-person audience in an “Ask Me Anything.” From th…
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Hello listeners! Our team took some end of the year time off, but we know your holiday travel wouldn’t be complete without some in-depth political science research. So, we’re release some episodes we think are going to be very relevant as we move into an election year. And thanks to everyone who listened to our podcast this year. We don’t make mone…
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Who Controls AI? With Sendhil Mullainathan
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The firing, and subsequent rehiring, of OpenAI CEO Sam Altman raises fundamental questions about whose interests are relevant to the development of artificial intelligence and how these interests should be weighed if they hinder innovation. How should we govern innovation, or should we just not govern it at all? Did capitalism "win" in the OpenAI s…
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Is There A "Spiral of Silence" On Campus And In Our Politics?
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The recent crisis in the Israel and Palestine conflict has added fuel to the already heated debate over free speech in our politics and on college campuses. Does the scientific literature having anything to tell us about the health of public discourse in these domains? A recent paper by Harvard Ph.D. candidate Yihong Huang titled “Breaking the Spir…
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Raghuram Rajan’s Vision Of An Indian Path To Development
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After discussing the trajectory of China's economy earlier this year, Luigi and Bethany turn their attention to the future of another global economic behemoth: India. Joining them is renowned Indian economist Raghuram Rajan, who has a brand-new book out this week, "Breaking the Mould: Reimagining India's Economic Future" (co-authored with Rohit Lam…
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Some might say one of the most important ways we exercise the right to free expression is through protests. And we’ve certainly seen groups all over the world using that right in the last few years, from the George Floyd protests in the U.S. to democratic marches in Hong Kong to demonstrations in Chile, Venezuela, Iran and Peru. On the surface this…
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How Big Law Firms Shape Capitalism, With David Enrich
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After previously exploring the worlds of 'consultants for sale' and 'scientists for sale,' Luigi and Bethany turn their attention to another broken system of 'enablers' - the world of lawyers for sale. With award-winning investigative journalist David Enrich, they discuss David's latest book, "Servants of the Damned: Giant Law Firms, Donald Trump, …
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There is a political puzzle that has become prominent in the last few decades, especially with the recent turmoil over the Republican led Speaker of the House: how do a small group of extremists manage to get their way despite being a minority of members? In a recent paper, “Organizing at the Extreme: Hardline Strategy and Institutional Design” Uni…
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The Capitalisn't of Crypto: SBF and Beyond, with Zeke Faux
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In his new book "Number Go Up," Bloomberg News investigative reporter Zeke Faux takes readers on a wild ride through the world of cryptocurrency, from its origins in the dark corners of the internet, its meteoric rise to mainstream popularity, and finally its equally precipitous fall. A few days after the 'convicted' verdict in the trial of beleagu…
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