Freakonomics Radio

Explore why car colors have shifted from vibrant hues to sleek monochromes, revealing the psychology behind consumer choices. Discover the booming self-storage industry, driven by changing lifestyles and urban living demands, with insights into market trends and personal circumstances. Learn about the intriguing world of storage auctions, where forgotten treasures await. This blend of automotive aesthetics and storage economics highlights how our choices reflect deeper social currents and personal identities.

Glenn Loury, a renowned economist at Brown University and author of the memoir 'Late Admissions: Confessions of a Black Conservative,' opens up about his turbulent life. He reflects on the complexities of conservatism and race in America and shares his personal journey of success, struggles, and ideological shifts. Loury discusses the implications of affirmative action, the challenges faced by Black individuals in the job market, and the importance of honest discourse. He also touches on his battles with addiction and evolving family dynamics.

In this discussion, Pete Stavros, co-head of Global Private Equity at KKR, advocates for employee ownership as a transformative model, while Corey Rosen, founder of the National Center for Employee Ownership, emphasizes the potential of ESOPs to create a fairer economy. Marjorie Kelly, a critic of private equity, shares insights on its effects on workers. They delve into the complexities of employee ownership, its potential benefits, and the challenges it faces, questioning whether these initiatives are genuine change or merely a façade in the corporate landscape.

Richard Cockett, author and senior editor at The Economist, dives into the vibrant intellectual legacy of Vienna, exploring how its ideas shaped modern politics, psychology, and consumer culture. He discusses the city's decline under fascism and the subsequent exodus of thinkers who influenced American thought. The impact of Viennese culture on architecture and media manipulation is highlighted, alongside connections to contemporary issues like democracy and rising extremism. Cockett stresses the importance of preserving this rich heritage as a vital lesson for today's world.

Anne Wojcicki, co-founder and CEO of 23andMe, discusses her company's dramatic decline from a booming genetic testing pioneer to facing significant financial challenges. Rolfe Winkler, a Wall Street Journal reporter, sheds light on the implications of a recent data breach and the company's struggle to monetize wellness products. They explore ethical concerns surrounding genetic data use, the emotional impact of DNA revelations, and the broader significance of consumer genetics in healthcare innovation. The conversation uncovers both the potential and pitfalls of personal genomics.

Justin Trudeau, Prime Minister of Canada, is known for his commitment to progressivism and middle-class advocacy. In this discussion, he tackles his government's ambitious immigration policies, aiming to boost economic growth while managing rising pressures on housing and healthcare. Trudeau reflects on the societal dynamics influenced by climate change and the pandemic, revealing the challenges he faces as a leader. He also emphasizes the need for empathy and storytelling in politics, all while pushing for innovative solutions in Canadian healthcare and reconciliation efforts.

In this discussion, Joshua Angrist, a Nobel laureate from MIT, Zoe Cullen from Harvard focusing on labor economics, and Marina Gertsberg of the University of Melbourne explore the often overlooked consequences of well-meaning policies. They delve into how good intentions can inadvertently harm those they aim to help, examining pay transparency laws and their paradoxical effects on wages. The impact of the #MeToo movement on academic collaborations is also highlighted, showcasing how it has inadvertently affected women's professional relationships and research opportunities.

Michael Lewis, a journalist and author known for his captivating works like 'Moneyball', discusses the profound impact of psychologist Daniel Kahneman and his collaborator Amos Tversky on decision-making. He reflects on their groundbreaking research and how it reshaped our understanding of cognitive biases. The conversation explores the intersection between literature and psychology, revealing how their insights influence storytelling. Lewis also celebrates their unique personalities and collaborative spirit, highlighting their lasting legacy in behavioral economics.

Katie Johnson, a data scientist turned manager turned freelancer, shares her journey navigating the challenges of leadership. Kelly Shue, a finance professor, discusses the Peter Principle — the tendency for capable employees to be promoted into ineffective managerial roles. Steve Tadelis, an economics professor, emphasizes the significant impact that managers have on employee success and productivity. Together, they explore why firms perpetuate this cycle of promoting incompetence and how rethinking promotions could reshape organizational dynamics.

Fareed Zakaria, a prominent journalist and author, discusses revolutionary changes impacting our world. He examines the decline of global democracy and the rise of populism, highlighting the interplay between economics, technology, and identity. Zakaria reflects on geopolitical shifts, particularly involving China and Russia, and the challenges facing democratic nations. He provides insights into the resilience of American democracy and the moral responsibilities of journalism, all while offering a glimmer of hope amidst these transformations.