Freakonomics Radio

In this engaging discussion, economist Jim Andreoni, behavioral economist Jan Stoop, and Nikos Nikiforakis delve into the surprising dynamics of wealth and generosity. They explore groundbreaking research that challenges the notion that the rich are inherently less altruistic. By conducting an innovative field experiment involving misdelivered envelopes, they reveal that wealthier households actually returned more envelopes than poorer ones. The conversation also highlights how financial stress may diminish the returns of the less wealthy, reshaping understandings of generosity.

All sorts of people have put their mark on Messiah, and it has been a hit for nearly 300 years. How can a single piece of music thrive in so many settings? You could say it’s because Handel really knew how to write a banger. (Part three of “Making Messiah.”) SOURCES:Charles King, political scientist at Georgetown University.Jane Glover, classical music scholar, conductor.Katharine Hogg, musicologist, head librarian at the Foundling Museum.Susannah Heschel, religion professor, chair of Jewish Studies at Dartmouth College.Mark Risinger, teacher at St. Bernard’s School.Michael Marissen, professor emeritus of music at Swarthmore College, author of Tainted Glory in Handel’s Messiah: The Unsettling History of the World’s Most Beloved Choral Work. RESOURCES:Every Valley: The Desperate Lives and Troubled Times That Made Handel’s Messiah, by Charles King (2024)."Why These Christmas Songs Could Only Be Written in America," by Eli Lake (The Free Press, 2024)."Reflections on Bernstein’s 1956 “Messiah,”" by Mark Risinger (Leonard Bernstein Office, 2022).Handel in London: The Making of a Genius, by Jane Glover (2018).Tainted Glory in Handel's Messiah: The Unsettling History of the World's Most Beloved Choral Work, by Michael Marissen (2014).“Handel’s Messiah,” performed by The London Symphony Orchestra (2007). EXTRAS:"Making Messiah," series by Freakonomics Radio (2025). Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Gary Parr, senior managing director at Apollo and a philanthropist, shares his insights on music philanthropy and the economics behind the New York Philharmonic. He discusses the costly nature of orchestras and how donations play a vital role in funding the arts, comparing U.S. practices with European models. Parr also reflects on the enduring appeal of Handel's Messiah, its significance in holiday programming, and his personal connection to the piece. He highlights the impact of the Shanghai residency on audience and donor engagement, revealing a fascinating intersection of culture and finance.

Ellen Harris, a musicologist and Handel expert, and Charles King, a political scientist and author, delve into the fascinating journey of Handel. They uncover how Handel composed the monumental Messiah in just 24 days while facing financial woes. The discussion reveals the multicultural influences in his work, the emotional connection audiences feel with Messiah, and how a single performance in Dublin revitalized his career. They also highlight the struggles, entrepreneurial spirit, and eventual success that transformed Handel into a musical legend.

Join Charles King, a political scientist and author, and tenor Stuart Kinsella, as they explore the enduring relevance of Handel's Messiah. King delves into the historical context and the emotional weight that this 18th-century masterpiece carries in turbulent times. Kinsella shares insights from Fishamble Street, the site of its premiere, and discusses local traditions surrounding the oratorio. Together, they reflect on the themes of hope, charity, and the transformative power of music, revealing why Messiah resonates so deeply across generations.

Tony Spring, CEO of Macy's Inc., shares insights on revitalizing iconic brands while grappling with market pressures and store closures. Mark Cohen offers a critical historical perspective on Macy's faltering legacy and emphasizes the need for clear brand vision. Jeff Kinney, author of Diary of a Wimpy Kid, discusses his community-focused bookstore, highlighting challenges in the retail space and ambitious plans to redevelop downtown Plainville. The conversation bridges the gap between corporate challenges and local retail vibrancy, imagining a brighter future for both.

Dive into the world of the Macy's Thanksgiving Parade, hailed as a 'gift to the nation' with 30 million viewers. Discover why Macy's keeps its parade economics under wraps and the complexities of producing such a massive event. Hear from NBC about the challenges of broadcasting it live and the intricacies of securing sponsors and selecting balloon characters. Explore the crucial partnership with New York City for safety and logistics, while questioning Macy's relevance in today's retail landscape.

Elisabeth de Fontenay, a Duke Law professor specializing in corporate law, and Steven Kaplan, a finance expert from the University of Chicago, discuss the implications of new retail access to private equity. They explore whether this access is a genuine opportunity or a potential trap for everyday investors. Topics include the hidden risks of private markets, the performance history of buyouts, and the challenges faced by retail investors, including high fees and limited deal access. Can democratizing private equity truly benefit the average American?

Cormac Branwick, Senior Director at Keeneland, shares insights on the yearling auction process and how market demand impacts prices. Emily Plant, a marketing professor and thoroughbred researcher, discusses the risks and rewards of buying yearlings, highlighting data-driven breeding strategies. Mark Taylor, President of Taylor Made Farm, warns about the industry's reliance on record prices amid declining participation. Marshall Gramm, an economics professor and horse player, explores the impact of legalized gambling on horse racing, raising questions about the future of the sport.

Geoff Bennett, co-anchor and managing editor of PBS NewsHour, joins Stephen Dubner to celebrate 20 years of Freakonomics. They discuss how the podcast mixes narrative journalism with economics. Dubner dives into the importance of curiosity and open-mindedness in understanding data. He reflects on how certain insights have aged and what he might change if rewriting the book today. Additionally, they explore the implications of misinformation and the promise of AI in improving medical diagnoses. A lively dialogue on economics and creativity!