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
Worried about Inflation? So is Fmr Central Banker Mervyn King
Pres. Biden is pursuing some of the largest spending proposals in U.S. history, which should be sparking concerns about inflation and interest rates. But most prominent bankers and economists have told us not to worry. Fmr Central Banker Mervyn King says they shouldn't be so confident.
On this episode, we speak with Lord King about his concerns of coming inflation, how he thinks central banks didn't learn the right lessons after 2008, and why he thinks the industry has become too reliant on models.
Is The Federal Reserve An "Engine of Inequality"?
What is causing the widening wealth gap in America? People point fingers in many different directions, but a fairly new idea is to blame The Federal Reserve.
In a new book, "Engine of Inequality: The Fed and The Future of Wealth In America", Karen Petrou, a managing partner at Federal Financial Analytics, argues that The Fed's ultra-low interest rate policy has benefited the wealthy at the expense of the poor.
The Power Of Access In Journalism And Academia With Kara Swisher
When it comes to probing the problems of Big Tech, either as a journalist or academic, access is key. Necessary data is highly guarded, often in a "black box", and these companies carefully select what they share and with whom.
Few people understand this better than Kara Swisher who has been fearlessly covering and critiquing Big Tech since the 1990s. She's a New York Times opinion writer, host of the podcast "Sway" and co-host of the "Pivot" podcast.
Communisn’t: Crony Capitalism In China With David Barboza
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 Prize for his reporting.
On this episode, we talk with Barboza about how this system works, why American companies are sometimes complicit in it, and the effect it could have on the rest of the world.
Barboza now publishes "The Wire China" a digital new magazine focused on covering China both in and out of the country.
Why We Should Tax Digital Advertising With Paul Romer
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 episode, Romer presents his argument for why the implementation of a digital advertising tax could address the size and business model of these tech firms.
When the Profit Motive Kills With Anand Giridharadas
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 Giridharadas says yes to both questions. He's the author of the renowned book "Winners Take All" and the publisher of "The Ink" on Substack. He joins us in this episode to discuss McKinsey, the culture of profits at all costs, and how businesses use philanthropy to distract us from the price we all pay.