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
27 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.
69 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.
98 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.
65 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.
49 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.
104 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.
127 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.
96 snips
Oct 2, 2025 • 48min
Why Capitalism Stopped Working In Japan, with Takeo Hoshi
In this engaging discussion, Takeo Hoshi, a professor at the University of Tokyo and expert on Japan's economics, dives into the nation's 'lost decades' following the 1990s bubble burst. He explains how deflation entrenched financial stagnation and the banking system's failures compounded the crisis. Hoshi also highlights Japan's global economic significance, examining its heavy export reliance and the implications of its high public debt. The conversation explores lessons for other advanced economies grappling with similar challenges today.
78 snips
Sep 18, 2025 • 48min
How Profit and Politics Hijacked Scientific Inquiry, with John Ioannidis
John Ioannidis, a renowned Stanford physician-scientist known for his work on research methodology, dives deep into the intricate relationship between science, politics, and capitalism. He discusses his shocking defiance during the COVID-19 pandemic and highlights the erosion of public trust in scientific experts due to misinformation. Ioannidis emphasizes the dangers of political intervention and corporate funding in scientific research, advocating for transparency and independent testing. His insights reveal the urgent need for a protective framework around scientific inquiry.
66 snips
Sep 4, 2025 • 45min
Will Privatizing The Mortgage Giants Solve The Housing Crisis?
The recent announcement of privatizing mortgage giants Fannie Mae and Freddie Mac could revolutionize home ownership in America. Their roles during the housing crisis are crucial, having made 30-year fixed-rate mortgages accessible. However, the potential return to risky subprime lending raises concerns. Private equity's influence threatens wealth equality among first-time buyers. Advocates are calling for a reevaluation of housing policies to support future generations amidst gig economy challenges, highlighting a complex path ahead.
