Capitalisn't

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, and the Corruption of Justice."  Enrich presents s...

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 beleaguered crypto entrepreneur Sam Bankman-Fried (SBF)...

In his new book, Sohrab Ahmari argues that the concentration of economic power in the hands of a few corporations has created a new form of tyranny in America. "Coercion is far more widespread in supposedly noncoercive societies than we would like to think—provided we pay attention to private power and admit the possibility of private coercion," he writes. Ahmari, founder and editor of Compact mag...

In her brand new book , "The Big Fail: What the Pandemic Revealed About Who America Protects and Who It Leaves Behind," Bethany and her co-author Joe Nocera argue that the COVID-19 pandemic was not simply a natural disaster but also a man-made one. Based on rigorous research and compelling storytelling, Bethany, who is renowned for her incisive reporting, reveals uncomfortable truths that have eme...

How does science become public policy? It's not always as straightforward as it might seem. In his book "The Triumph of Doubt: Dark Money and the Science of Deception," leading public health expert and former Clinton/Obama administration official David Michaels shows how corporate interests often "manufacture uncertainty" in order to protect their profits. Using wide-ranging case studies from Big...

In his new book, Regime Change: Toward a Postliberal Future , renowned political philosopher Patrick Deneen argues that the liberal ideology that has shaped capitalism for centuries has also failed to deliver on its promises of freedom, equality, and prosperity. Is he able to offer a compelling alternative that serves the interests of the common good over those of wealthy elites? Deneen, whose pre...

As companies become increasingly big through mergers and acquisitions -- especially in technology, health care, and several other industries -- how should rules and regulations change with the times? Freshly minted and hot off the press: The U.S. Department of Justice (DOJ) and the Federal Trade Commission (FTC) recently released an updated set of draft "Merger Guidelines," which could reshape the...

Is there a fundamental tension between democratic freedom, economic growth, and social equality? Chilean economist and UCLA Professor Sebastian Edwards joins Bethany and Luigi to discuss his recent book, " The Chile Project: The Story of the Chicago Boys and the Downfall of Neoliberalism ." The Chicago Boys were a group of free-market economists trained at the University of Chicago who shaped econ...

A wet hot antitrust summer is in the news, mainly because of the Biden administration appointees continuing to take an aggressive approach to enforcement. Why is this important, and how has antitrust thinking evolved over time? In this conversation, Bethany and Luigi draw from his long-standing research and from the Stigler Center's most recent antitrust conference exploring new paradigms of tradi...

Republican presidential candidates, such as Ron DeSantis and Vivek Ramaswamy, continue to keep ESG in the national conversation. Ramaswamy in particular called it "woke capitalism" in his book and on our podcast. As we take our summer break, we decided to re-release our conversation with Tariq Fancy, BlackRock’s former global chief investment officer for sustainable investing, whose criticism of E...

In the last episode of our podcast, we had a mini version of a never-ending debate on this show: whether private equity is good or bad. Afterward we talked about doing a full episode debating the pros and cons of PE until we realized, we’d already done it.  The debate features Jeff Hooke, author of the book "The Myth of Private Equity," and Chicago Booth Professor Steven Kaplan, once referred to b...

How can public policy improve upon and fix the mess of U.S. health care? In a new book, health economists Amy Finkelstein (MIT) and Liran Einav (Stanford) argue that's the wrong question. Instead, they suggest we ask: What is it that U.S. health policy should try to accomplish? Finkelstein, also a MacArthur Genius grantee, joins Bethany and Luigi to discuss health care as a social commitment and t...

"Poverty will be abolished in America only when a mass movement demands it," writes Princeton sociologist and Pulitzer Prize-winning author Matthew Desmond in his new book, "Poverty, by America." Building on his own lived experiences of growing up poor and continued contact with impoverished communities that "forces [him] to be intellectually honest," he claims that poverty persists in America not...

Thank you to our listeners for the feedback and engagement on last week's episode with former U.S. Senator Phil Gramm. Sen. Gramm was also one of the co-sponsors of the Gramm–Leach–Bliley Act of 1999, which removed part of the Depression-era law separating investment banking from commercial banking, among others. Bethany and Luigi couldn't pass the opportunity to ask the senator about his views on...

In his recent book " The Myth of American Inequality ," former U.S. Senator Phil Gramm (along with co-authors Robert Ekelund and John Early) challenges conventional wisdom on the state of income inequality in the United States. Gramm argues that the gap between the rich and the poor is not as wide as often claimed because it is measured incorrectly, thus biasing public policy debates.  On this epi...

What if we harnessed the collective wisdom of the crowds and delegated democratic leadership to the masses? In her book " Open Democracy: Reinventing Popular Rule for the 21st Century ", Yale political scientist Hélène Landemore proposes a radically new vision for "what genuine democratic representation means and how we could open up our narrow electoral institutions to ordinary citizens, includin...

In his new book, " Power and Progress: Our 1000-Year Struggle Over Technology and Prosperity ", renowned MIT Professor of Economics Daron Acemoglu (with co-author Simon Johnson) argues that the benefits from technological progress are shaped by the distribution of power in society.  In this episode, Acemoglu joins Bethany and Luigi to discuss the key challenges of ensuring that this progress benef...

On this episode, our hosts Bethany McLean and Luigi Zingales sit down with renowned MIT economist David Autor to discuss the impact of technology, labor markets, and immigration on wage inequality and the economy at large. Autor is best known for his work on the "China Shock," the impact of rising Chinese exports on manufacturing employment in the United States and Europe after China's accession t...

It is hard to think of an idea more central to capitalism than economics, particularly economic efficiency. Similarly, public policy is now — and has been for a while — conducted in the language of budgets, models, and cost-benefit analyses. But how accountable is this idea to the public? Elizabeth Popp Berman is a sociologist and historian of economic thought at the University of Michigan and the...

Several questions continue to swirl around the collapse of Silicon Valley Bank and its larger implications. In this special episode, Chicago Booth’s Raghuram Rajan – former Governor of the Reserve Bank of India and IMF Chief Economist – joins Bethany and Luigi to explore the risks in the financial system and possible solutions. Rajan discusses a paper he presented (with NYU Professor Viral Acharya...

Read ProMarket's ongoing coverage of the Twitter Files, including the research summary of the Twitter Files prepared by Stigler Center Research Professional Utsav Gandhi in preparation for this episode Read the Stigler Center's 2019 Report on Digital Platforms , addressing many of the underlying issues discussed in this episode: trust and transparency in social media, business models of journalism...

We had initially prepared an entirely different episode for today, but last week's Silicon Valley Bank collapse, the largest in U.S. history since 2008, meant a quick change of plans. What happened? What is unique about this bank run, and what isn't? How much should regulators be blamed, and how much should bank management be? Do social media and today's frantic digital environment mean this is th...

Revisit: When the Profit Motive Kills , with Anand Giridharadas, on Capitalisn't Why the US Government Buys Overpriced Services From McKinsey , by Matt Stoller in ProMarket Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Read the following articles in ProMarket : There Is a Direct Line from Milton Friedman to Donald Trump's Assault on Democracy , by Martin Wolf George Stigler and the Challenge of Democracy , by Anat Admati Corporations Are Not “We the People, ” by Geoffrey Stone eBook: Milton Friedman 50 Years Later, a Reevaluation Also, check out relevant past Capitalisn't episodes: Martin Wolf: Is Capitalism Kil...

Read the following articles in  ProMarket : There Is a Direct Line from Milton Friedman to Donald Trump's Assault on Democracy , by Martin Wolf George Stigler and the Challenge of Democracy , by Anat Admati Corporations Are Not “We the People, ” by Geoffrey Stone eBook: Milton Friedman 50 Years Later, a Reevaluation Also, check out relevant past Capitalisn't episodes: Why Capitalism Needs Democrac...