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
38 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.
89 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.
85 snips
Aug 21, 2025 • 54min
Trump's Great Private Equity Bailout, with Dan Rasmussen
In this discussion, Dan Rasmussen, founder of Verdad Advisors and author, dives deep into the landscape of private equity. He critiques the recent push to allow 401(k) investors access to alternative assets, raising concerns about the true performance of private equity compared to public markets. The conversation tackles whether private equity is a viable option for retirement funds or merely a risky venture. Rasmussen questions the sustainability of returns and highlights the potentially adverse effects on everyday investors.
57 snips
Aug 7, 2025 • 45min
Should Chatbots Teach Our Children? With Khan Academy CEO Sal Khan
Sal Khan, the founder of Khan Academy, discusses the integration of AI in education. He emphasizes that technology should complement teaching rather than replace traditional methods. Khan shares insights from his book on the potential of AI to personalize learning and democratize opportunities. Concerns about data ownership and the influence of tech companies are also explored. The conversation highlights the balance between individualized learning and the benefits of collaborative education, advocating for ethical practices in the evolving landscape of learning.
48 snips
Jul 24, 2025 • 58min
Can The Dollar Be Dethroned?, with Ken Rogoff
Joined by Ken Rogoff, a Harvard professor and former chief economist for the IMF, the conversation dives into the future of the U.S. dollar as global dominance wanes. Rogoff argues the dollar is in its 'middle age,' facing pressure from rivals like the euro and renminbi while grappling with rising federal debt and economic sanctions. He also explores the impact of cryptocurrencies on traditional finance and elaborates on geopolitical dynamics that threaten U.S. currency supremacy. The discussants illuminate why this shift matters to Americans and the world.
67 snips
Jul 10, 2025 • 49min
Revealing the Secret Architects of Capitalism, with Chris Hughes
Chris Hughes, co-founder of Facebook and PhD candidate at Wharton, dives into the intricate relationship between government and market structures. He explores the concept of 'marketcraft,' revealing how interventions have historically shaped economies. The discussion touches on pivotal events like the 2008 financial crisis and the COVID-19 pandemic, rethinking capitalism's regulations. Hughes highlights challenges of social media governance under Section 230 and critiques current market dynamics, prompting a reflection on ethical economic strategies.
