Freakonomics Radio America’s Hidden Duopoly (Rebroadcast)
Jul 25, 2019
Michael Porter, a Harvard Business School professor known for his expertise in strategy, teams up with Catherine Gale, former CEO turned political reform advocate. They challenge the idea that America's political system is broken, comparing it to the duopoly of Coca-Cola and Pepsi. They explore how party competition stifles reform and leaves voters disillusioned. The duo discusses innovative solutions like ranked choice voting and the importance of structural changes to enhance political representation and engagement in an increasingly polarized landscape.
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The Cola Wars
- The "Cola Wars" between Coca-Cola and Pepsi in the 70s and 80s are a prime example of duopoly.
- Coke's disastrous 'New Coke' actually helped them regain market share due to publicity.
Political Duopoly
- The US political system is a duopoly more powerful than Coke and Pepsi's.
- The two major parties, Republicans and Democrats, dominate the market, stifling competition.
Politics as an Industry
- Washington isn't broken; it functions as designed.
- Catherine Gale applied Michael Porter's business analysis framework to politics.
