Capitalisn't
University of Chicago Podcast Network
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 author and journalist Bethany McLean and world renowned economist 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.
If you would like to send us feedback, suggestions for guests we should bring on, or connect with Bethany and Luigi, please email: contact at capitalisnt dot com. If you like our show, we'd greatly appreciate you giving us a rating or a review. It helps other listeners find us too.
Cover photo attributions: https://www.chicagobooth.edu/research/stigler/about/capitalisnt.
If you would like to send us feedback, suggestions for guests we should bring on, or connect with Bethany and Luigi, please email: contact at capitalisnt dot com. If you like our show, we'd greatly appreciate you giving us a rating or a review. It helps other listeners find us too.
Episodes
Mentioned books
94 snips
Jan 22, 2026 • 42min
Can We Build a Middle Class Without Factories? - ft. Dani Rodrik
Dani Rodrik, Ford Foundation Professor at Harvard, discusses the shifting economic landscape where traditional manufacturing no longer supports a stable middle class. He emphasizes the need to elevate service sector jobs, which are often undervalued, in order to maintain social cohesion. Rodrik highlights how new technologies can boost productivity in services while warning against platform monopolies that could harm workers. He proposes practical policies to enhance job quality and suggests that meaningful work is crucial for democracy and human dignity.
65 snips
Jan 15, 2026 • 53min
Who Should The Fed Answer To? - ft. Sir Paul Tucker
Sir Paul Tucker, former Deputy Governor of the Bank of England, dives deep into central bank independence and its implications for democracy. He challenges the Fed's self-governance, arguing it has detached from Congress and created an accountability gap, especially highlighted by the SVB collapse. Tucker critiques the notion of monetary policy as 'latent taxation' and calls for clearer congressional mandates. He also questions the complacency of markets amid potential financial instability, suggesting that the power dynamics may be skewing perceptions of risk. A thought-provoking discussion on the balance of power and accountability!
101 snips
Jan 6, 2026 • 55min
How To Fix The American Tax System - ft. Ray Madoff
Ray Madoff, a tax law scholar and author, dives into America's complex tax system. She challenges the popular narrative that the top 1% carry the tax burden, revealing how the ultra-wealthy evade taxes through loopholes and trusts. Madoff critiques the ineffectiveness of the estate tax and discusses how philanthropy often serves as a tax avoidance tactic. Highlighting the urgent need for reform, she proposes taxing inheritances and investment gains directly. Madoff's insights push us to rethink fairness in taxation and wealth distribution.
50 snips
Dec 18, 2025 • 53min
How Capitalism Became Global ft. Sven Beckert
Sven Beckert, a Harvard historian and expert on capitalism, breaks down the complexities of capitalism's definition and history. He argues that capitalism isn't just about markets, but rather a specific logic of privately owned capital. Beckert challenges the idea that capitalism opposes the state, showing their historical interdependence. He explores capitalism's adaptability across political systems, its role in the Industrial Revolution, and the dynamics of wealth concentration versus social mobility. He emphasizes the need for democratic reforms to shape capitalism's direction and benefits.
76 snips
Dec 11, 2025 • 56min
How to Stop “Ensh*ttification” Before It Kills the Internet - ft. Cory Doctorow
Cory Doctorow, a science fiction author and technology activist, joins to discuss the alarming trend of "ensh*ttification" in digital platforms. He explains how platforms initially provide value but gradually degrade their services due to policy failures and high switching costs. Doctorow emphasizes the importance of interoperability in fostering competition and critiques current IP laws that entrench monopolies. He also addresses the troubling rise of AI, warning of potential asset bubbles and the emergence of 'reverse centaurs' where human labor fixes flawed algorithms.
107 snips
Dec 4, 2025 • 58min
Why Matthew Yglesias Is Skeptical Of Anti-Monopoly Policies
Matthew Yglesias, journalist and co-founder of Vox, discusses the pitfalls of modern anti-monopoly policies. He critiques recent proposals like capping beer prices at stadiums, arguing such measures lead to higher ticket prices and inefficiencies. Yglesias warns against politicized antitrust actions, advocating for a rigorous economic analysis. He emphasizes the need for antitrust to prioritize consumers over small businesses and debates the complexities of platform economics, stressing the importance of addressing underlying market issues rather than relying solely on antitrust.
61 snips
Nov 20, 2025 • 1h 2min
Are Big Tech’s Regulators “Cowards”? ft. Tim Wu
This week, Tim Wu, an esteemed Columbia Law professor and former tech policy advisor, delves into the dark side of Big Tech. He reveals how Amazon's $37 billion from sponsored results exploits both buyers and sellers, highlighting a culture of wealth extraction instead of innovation. Wu discusses the potential for monopolistic behavior driven by shareholder pressure and warns that regulatory timidity stifles necessary change. He advocates for structural separations and interoperability as essential tools to counteract these tech giants and preserve economic fairness.
54 snips
Nov 6, 2025 • 47min
Why Economists Should Care About Inequality, with Branko Milanovic
Branko Milanovic, a renowned economist and expert on global income inequality, joins the conversation to unpack the critical intersections of capitalism, democracy, and inequality. He discusses why income inequality is a global concern and challenges the idea that capitalism is the sole driver of success, particularly in China. Milanovic argues that market solutions alone won't fix inequality; government intervention is crucial. He also explores how effective democracy requires diverse political voices and critiques the simplistic views on equality of opportunity versus equality of outcome.
87 snips
Oct 30, 2025 • 46min
Nobel Economist Reveals Why Economic Models Keep Failing Us, ft. Richard Thaler
Richard Thaler, a Nobel Prize-winning economist and co-author of The Winner's Curse, dives deep into the quirks of human behavior that challenge traditional economic theory. He discusses how behavioral economics helps explain why people often make irrational decisions, from personal finance to tech addiction. Thaler emphasizes the significance of modest policy nudges to improve outcomes, sharing real-world successes like automatic retirement enrollment. He also explores the cultural robustness of behavioral findings and the tension between academia and Silicon Valley's rapid adoption of these insights.
107 snips
Oct 16, 2025 • 49min
What Everyone’s Getting Wrong About AI, with Arvind Narayanan
Arvind Narayanan, a Princeton computer science professor and co-author of AI Snake Oil, discusses the hype surrounding AI and its potential pitfalls. He argues that the true impact of AI is being overstated and warns of parallels to past technology bubbles. Narayanan explores how capitalism distorts technological progress and examines the risks of deregulation. He also delves into the issue of corporate control over data, the challenges of AI in scientific innovation, and the implications of an AI crash on the economy.
