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
How Antitrust Failed Workers With Eric Posner
The monopoly power of massive tech platforms has thrust antitrust law back into the spotlight in recent years. But while everyone was focused on monopoly power, a handful of academics have actually been looking into monopsony power. Specifically, how employers in highly concentrated labor markets use anticompetitive methods to suppress wages.
University of Chicago Law Professor Eric Posner has a new book out that tackles this issue called “How Antitrust Failed Workers”. He makes the case for why we need to use the mirror side of antitrust law to tackle the increasing monopsony power in the U.S.
A Turning Point In The History Of Capitalism?
Histories are often relegated to the sidelines of economic study. But what do we lose in our theories when we only focus on the math and models?
In his new book, “Ages of American Capitalism”, University of Chicago historian Jonathan Levy looks at the turning points in the history of capitalism and what those moments can teach us about today.
Is Evergrande Really China’s Lehman Moment?
In September China's second largest real-estate developer, Evergrande, missed an $83.5 million debt payment. Skeptics and bears on China have long said that its property market, which makes up some 30 percent of GDP, is over-leveraged and overheated. The recent news has people asking...are the bears right, and could this be China's Lehman Moment.
On this episode we look at two sides of that argument, first with one of the world's most renowned bears on China, Jim Chanos who is the found of Kynikos Associates, an investment advisor focused on short selling. Then we take the a different view with Zhiguo He, a financial economist at the University of Chicago and faculty director of BFI-China at the Becker Friedman Institute for Research in Economics.
Is Discrimination Still Causing The Gender Pay Gap With Claudia Goldin
If Claudia Goldin, Professor of Economics at Harvard University, wins the Nobel Prize in Economics next week, no-one will be surprised. Her work studying the intersection of gender and labor has been vital, both to the world and the field.
But there's a curious argument in her newest book "Career and Family: Women’s Century-Long Journey Toward Equity". Goldin says that though the gender pay gap persists, it's not clear that gender discrimination is the cause. She thinks that job design may be the real culprit, and that we need to rethink the flexibility and substitutability of work.
She joins us to discuss her book on this episode! Plus, in light of leaked internal research showing Facebook has known their products are harmful to kids and teenagers, we discuss whistleblowers and data-blackboxes for this week's capital is/isn't.
Why Capitalism Isn't Without Democracy
We’re taking a week off as school starts back up, but we wanted to reshare this episode with you this week. For a show about economics, we talk about democracy a lot. But there’s an important reason for that. Without a strong democracy to build capitalism on top of, it’ll always be an isn’t.
So please enjoy our conversation about the important intersections of capitalism and democracy. We’ll be back in two weeks with an all new Capitalisn't.
The Smoke and Mirrors of ESG Investing with Tariq Fancy
Environmental, social and governance investing, also know as ESG, has exploded in recent years. It promises to help us solve problems like climate change and inequality all while allowing investors to still turn a profit.
But BlackRock’s former global chief investment office for sustainable investing, Tariq Fancy, says it isn't what's being advertised. Recently, he penned a blog post claiming that not only are ESGs not making societal problems better, they may actively be making them worse.
Pay Gap episode
Deft handling: When the guest introduced partisanship via a cheap joke, neither host offered even a faint chuckle. That dynamic allowed the forge ahead into fresh pay-gap terrain (PE/hedge funds) that the guest indicated she needed to research further. Had the podcast veered into political narratives-even briefly- there likely would not have been time to introduce that topic. Ideas can stand on their own and need not be subservient to other masters. The hosts of this podcast seem to understand that. Refreshing.
One of the best podcasts on the air. Outstanding content and guests. Thought-provoking. Kate was a hard act to follow, but Bethany is doing fine. Luigi is a great combination of academic and realist.
Not very good
Second by second gas lighting polylogism. Unaware of human action. This is neoclassical top down crapshoot.