Freakonomics Radio

Chad Syverson, an economics professor at the University of Chicago, Ed Glaeser from Harvard, and Vaughan Buckley, CEO of Volumetric Building Companies, dive into the perplexing inefficiencies of the U.S. construction sector. They discuss why construction productivity has stagnated since the 1970s, explore the potential of modular and prefabricated solutions, and share insights on the impact of regulations and labor dynamics. The conversation challenges preconceived notions about modular designs and highlights innovative approaches to address housing shortages.

Join Jason Kelce, longtime center for the Philadelphia Eagles and vibrant podcaster, as he shares his journey in the NFL and the close bond with his brother, Travis. They reflect on emotional growth amidst the pressures of professional football and the importance of teamwork. Kelce discusses the challenges of player accommodations, revealing surprising insights from the NFL team report card. With a mix of humor and honesty, he reveals why losing isn’t an option and offers a glimpse into life beyond the field.

Brendan Ballou, a Special Counsel at the DOJ and author of "Plunder," teams up with investor Sachin Khajuria, author of "Two and Twenty," to shine a light on private equity's role in the economy. They explore whether these firms really enhance efficiency or merely profit at the expense of consumers. The discussion highlights powerful anecdotes, the rise of controversial business models, and the troubling impacts on local communities, especially the decline of beloved institutions like Fairway Market. Is more regulation needed? The answer may surprise you!

Join Killian Huber, a University of Chicago economics professor, Silke-Maria Weineck from the University of Michigan, and Sophie Calder-Wang from Wharton as they explore the hefty economic toll of discrimination. They discuss shocking historical parallels, such as the impact of Jewish exclusion in Nazi Germany on corporate performance. The conversation also delves into the effectiveness of diversity mandates and the challenges of achieving true equity in workplaces, offering intriguing insights into how discrimination shapes economies today.

Gary Klein, a cognitive psychologist known for his pioneering work in decision-making, and Theresa MacPhail, a medical anthropologist studying pandemic preparedness, dig into the art of learning from failure. They discuss the innovative premortem technique for anticipating issues within teams. Additionally, they explore the cultural shift needed to embrace failure in education and startups, and how resilience can be built through open discussions about mistakes. The conversation highlights that facing challenges head-on leads to growth and unexpected opportunities.

Travis Thul, Director of Operations at the University of Minnesota, and Jill Hoffman, Founder and CEO of Path 2 Flight, discuss the thin line between grit and quitting. They share personal stories about glitches in entrepreneurial ventures, including a Kickstarter campaign for a unique ramen-making machine. The conversation emphasizes the emotional hurdles of failure, the stigma around it, and how acknowledging these challenges can actually foster success. Together, they advocate for a redefined perspective on persistence and the importance of knowing when to let go.

Join Amy Edmondson, a Harvard leadership professor, Carole Hemmelgarn, patient safety advocate, and Gary Klein, a cognitive psychologist, as they dive into the intricate world of medical failure. They discuss profound stories that unveil systemic issues in healthcare, emphasizing the need for transparency and communication to prevent tragedies. The conversation also explores how to learn from failures constructively, shifting focus from blame to understanding, and highlights the role of resilience and relationships in navigating setbacks for greater innovation.

Amy Edmondson, a Harvard Business School professor and author of "Right Kind of Wrong," dives into the intricacies of failure. She discusses the multi-layered nature of tragedies and the need for comprehensive examination rather than viewing them as isolated incidents. Topics include gender perceptions of failure, emotional impacts from both personal and professional setbacks, and important lessons learned from disasters like the Lahaina wildfires. Edmondson also emphasizes the importance of compassion and mental health in preventing future tragedies while redefining failure as a path to growth.

Claudia Goldin, a Nobel laureate and Harvard economics professor, dives into the complexities of the gender pay gap. She reveals that the disparity isn't solely due to discrimination, exploring historical and societal factors instead. Goldin discusses how occupational choices and the need for workplace flexibility contribute to lower pay for women. She also highlights effective strategies for salary negotiation and emphasizes the need for diverse approaches to achieve gender equity in the workplace.

John Ray, an experienced emergency CEO and bankruptcy expert, shares insights from his high-stakes career, including navigating the infamous FTX collapse. He discusses the challenges of taking over failing companies, emphasizing the critical need for financial accountability and leadership during crises. Ray reflects on his journey from Pittsfield to FTX, revealing how his experiences shaped his approach to corporate restructuring. He also explores the broader implications of failure in business, advocating for learning and growth amidst adversity.