Capitalisn't

The only thing worse than crony capitalism may be crony capitalism controlled by a centralized communist authority. This is the system that has led to massive wealth disparities in China, even as the country has seen record growth. Former New York Times correspondent, David Barboza, has gotten a first-hand look at how this system in China has led to rampant corruption and he even won a Pulitzer Pr...

Concerns about the political power of Big Tech and lack of competition are at an all-time high. The business model of Facebook, Google, Twitter, ect. seem to be creating a race to the bottom for the discourse in our social and political lives. Many have argued we should turn to anti-trust laws as a way to solve this problem, but Nobel laureate Paul Romer says they may not be enough. In this episod...

The consulting firm McKinsey has agreed to pay nearly $600 million for its role in advising Purdue on how to push opioids sales, even at the cost of human lives. The details of their work are gruesome and should demand self-reflection among all those who work in big business. Has the profit motive gone out of control, and do business schools have a role to play in creating this culture? Anand Giri...

Unless you've been living under a rock, you've probably heard the story of GameStop and Robinhood. Most writers and outlets have claimed this is either a positive David vs Goliath story or a dangerous new trend. On this episode, we're joined by Matt Stoller, Director of Research at the American Economic Liberties Project, who has an entirely different view. Hosted by Simplecast, an AdsWizz company...

A well-functioning capitalism needs a well-functioning democracy which depends on a well-functioning media. So, is our media functioning well today...has it ever? To talk through this question, we sit down with renowned journalist and media critic, Matt Taibbi. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for ad...

In 1998, the U.S. government filed antitrust charges against Microsoft. Today, with a new Department of Justice antitrust case filed against Google, it's worthwhile to track the eerie similarities between these cases in order to understand how one informs the other and vice versa. In order to walk us through both cases, we invited two people on the show who were on opposing sides of the Microsoft...

We’re taking time off to be with our families, even if it’s only over a screen, so we're sharing a shorter episode with you this week. Inspired by our recent election, Bethany and Luigi sit down, just the two of them, to talk through why a robust and strong democracy is essential for capitalism to work. We hope you enjoy this conversation, and we’ll see you with brand new episodes after the holida...

Few people have deeply investigated the inner workings of our problematic student debt system. One person who has is Constantine Yannelis, Assistant Professor of Finance at The University of Chicago. With a proposal by the Biden Administration to forgive some portion of student debt possibly on the table, Yannelis takes us behind the curtain of our student loan system to explain why this may not b...

It's not hard to find original conversations about the dangers of "Big Tech", but it is rare to find original solutions. On this episode, we sit down with renowned professor and author, Francis Fukuyama, who has developed a fresh answer to the question of how to rein in the big digital platforms like Facebook, Twitter, and Google. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.c...

During confirmation hearings for Supreme Court nominees, the debate is always focused on social questions like abortion, but rarely economic questions—the nomination of Amy Coney Barrett was no exception. But the Supreme Court can have a massive influence on our economy and how we conduct business. On this episode, we're joined by appeals lawyer, Roman Martinez, who has personally argued many case...

This week, another University of Chicago Podcast Network show called "Big Brains" asked Luigi to share his biggest takeaways from the 2020 election. They covered why the polls got the election so wrong, what messages the record turnout send to our politicians, and what Joe Biden may change in the economy. We’re going to share that episode with you this week, and recommend you give Big Brains a lis...

It's been 50 years since Milton Friedman's world changing article which argued the only social responsibility of business is to increase profits. Since the Great Financial Crisis, that view has been increasingly challenged. On this anniversary, we revisit Friedman's legacy with New Yorker staff writer and author of "Transaction Man", Nick Lemann. Together, we explain what Friedman got right and wh...

In recent weeks, The Great Barrington Declaration erupted the debate about how best to continue the fight against COVID-19. On this episode, we try to have an honest and difficult conversation about the tradeoffs of different strategies for the future, from lockdowns to herd immunity. We also speak to people on both sides of the aisle: Sunetra Gupta, an epidemiologist from Oxford and one of the si...

MMT—modern monetary theory—has become one of the hottest topics in economics. The best selling book, "The Deficit Myth", by economist Stephanie Kelton has even made this little understood theory go mainstream. But deeply analyzing these ideas has become more pressing than ever as we debate, in the middle of a pandemic, whether the government should be adding more debt to support the economy. Along...

Will rich people be able to buy a coronavirus vaccine before everyone else? Should we pay people to be part of clinical trials? Is a market for vaccine vouchers a terrible idea? On this episode, we tackle the complex questions around developing and distributing a coronavirus vaccine in a capitalist system. And to get some help with the answers, Luigi and Bethany speak with medical ethicist, Dr. Ar...

As we start a new season of Capitalisn't, we welcome our new co-host, Vanity Fair contributing editor Bethany McLean. Academics tend to think journalists are too driven by anecdotes and journalists tend to think that academics are irrelevant. But in our new season, we hope to combine these two expertises to illuminate the ways capitalism is and isn't working in our world. Hosted by Simplecast, an...

Capitalisn't will be returning with a new co-host in September! In the meantime, as we develop the re-launch of our show, we'll be airing previously unreleased content and re-releasing some of our favorite episodes. In light of the upcoming 2020 election, we thought it would be worthwhile to rebroadcast a conversation Kate and Luigi had about money in politics. Hosted by Simplecast, an AdsWizz com...

Capitalisn't will be returning with a new co-host in September! In the meantime, as we develop the re-launch of our show, we'll be airing previously unreleased content and re-releasing some of our favorite episodes. In light of a recent threat by the Department of Justice to bring a lawsuit against Yale University for allegedly discriminating against Asian-American and White applicants, we thought...

CapitalIsn't will be returning with a new co-host in September! In the meantime, as we develop the re-launch of our show, we'll be airing previously unreleased content and re-releasing some of our favorite episodes. On our last episode, we aired pieces of an interview with Lisa Cook, a professor from Michigan State University. We actually had a much longer conversation about the lack of diversity...

On this episode—Kate Waldock's final episode as a co-host of CapitalIsn't—we tackle a crucial question the economics field is facing: what is it going to do about its lack of diversity? To fully investigate this question, Kate and Luigi are joined by a series of guests who each offer a different perspective on why there's a lack of diversity in economics, what the profession is missing because of...

There is an ongoing debate about whether private equity adds value or simply extracts value. In the economic literature, benefits are better documented than extraction for a very simple reason: when value is created everybody is willing to share the data to show it. When value is extracted, much less so. On this episode, Kate and Luigi present an often overlooked story of how a private equity fund...

The coronavirus has taken a heavy toll on most businesses, but it has been especially hard on small businesses. But should those businesses file for bankruptcy, and what will happen to them if they do? On this episode, Kate and Luigi explain how bankruptcy works...or doesn't work...for small businesses and how the system needs to change. Hosted by Simplecast, an AdsWizz company. See https://pcm.ad...

"Defund the police" has become one of the central demands coming from the protests that have arisen following George Floyd's killing at the hands of a white police office. On this episode, Kate and Luigi take an economist's look at the concept of defunding the police. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data...

On this episode, Kate and Luigi use a recent criminal case against Walmart over its sale of opioids to explain the tactics many huge corporations use to dodge the justice system. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

What will universities and colleges look like post-coronavirus? Will the entire industry be disrupted by online learning, will state schools go bankrupt, will elite universities be effected at all? On this episode, Luigi and Kate give their expert analysis as both economists and professors about the future of higher education. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com f...