Freakonomics Radio

Join John Ewell, an actor and playwright focused on Adam Smith, and Maha Rafi Atal, a lecturer in global economy, as they dive into Adam Smith's relevance today. They discuss how modern capitalism strays from Smith's vision and explore the historical context of corporate power, especially with the East India Company's monopolistic practices. The conversation touches on issues like labor exploitation and government corruption while questioning how Smith's insights apply to today's corporate giants. They reevaluate Smith's legacy amidst today's economic challenges.

Eamon Butler, Director of the Adam Smith Institute, shares insights on free-market ideologies, while Glory Liu, a scholar on Adam Smith, highlights his influence on American capitalism. Russ Roberts dives into the moral implications of Smith's theories, questioning the balance between market efficiency and ethics. The discussion tackles Smith's complex legacy, including his interpretations on colonialism and the misreading of his 'invisible hand' by modern economists. Together, they unravel the tensions in today's political climate, linking historical concepts to contemporary issues.

Listeners are invited to share their air travel experiences by submitting voice diaries, adding a personal touch to an upcoming series. A deep dive reveals the complexities of airline travel, balancing frustrations with advancements in the industry. The discussion also emphasizes the importance of reliable insurance support, showcasing personal stories that illustrate how agents can assist during life's unpredictable moments, from buying a car to preparing for parenthood.

In this engaging discussion, 18th-century economist Adam Smith, known for *The Wealth of Nations*, and actor John Ewell, who wrote a play on Smith's life, unravel the misconceptions surrounding the philosopher. They delve into how Smith’s moral philosophy intertwines with economic thought, exploring the roots of his ideas in Kirkcaldy. Listeners discover the true meaning of the ‘invisible hand’ and how Smith's legacy continues to influence modern debates on ethics and capitalism. The conversation reshapes our understanding of a man often misrepresented.

Emla Fitzsimons, an economist at University College London, and Emily Oster, a Professor at Brown University, dive into the economics of breastfeeding and its contentious impacts on child development. They explore how societal pressures shape breastfeeding choices and discuss the cognitive benefits tied to breastfeeding duration. With insights from innovative studies, they reveal how factors like birth timing affect initiation rates. Their engaging conversation challenges long-held beliefs and urges a deeper understanding of parenting decisions across different backgrounds.

In this engaging discussion, bestselling author Michael Lewis shares insights from his acclaimed work, 'Moneyball.' He explores the delicate balance between luck and skill that defined its success, while highlighting the analytics revolution it sparked in baseball. Lewis reflects on the psychological barriers teams face in adopting data-driven strategies and the misvaluations that can occur across industries. With humor, he also proposes a wild idea to modernize baseball, emphasizing the sport's need to adapt while maintaining its traditions.

Marissa Mayer, former CEO of Yahoo and an early Google innovator, and Liz Reed, VP of search at Google, dive into the transformation of Google’s search engine. They discuss the initial magic of search versus its current perception as mere trickery. The conversation explores the balance between monetization through ads and user experience, the challenge of misinformation, and the idea of an ad-free search option. They unpack the implications of these changes while questioning whether the decline in search quality is due to Google or shifting user expectations.

James Dale, a plant scientist at Queensland University of Technology, is on a mission to save bananas from the devastating Panama disease. Alongside Douglas Southgate, an emeritus professor from Ohio State University, they unravel the banana's fascinating journey from luxury to a staple of American diets. The conversation dives into the historical impact of United Fruit in Central America, the promising potential of genetically modified bananas, and innovative gene editing techniques like CRISPR to combat agricultural challenges.

Morgan Levy, a senior producer and Formula One enthusiast, joins psychologist Jay Van Bevel to explore the complexities of fandom. They dive into how fandom shapes identity and community, using Lewis Hamilton's impact in Formula One as a key example. The discussion shifts to the parallels between sports and politics, highlighting the toxic nature of political fandom in America. They unravel how marketing strategies build exclusive communities and the moral polarization in contemporary politics, making connections that are as thrilling as a race on the track.

Nicholas Bloom, an economist from Stanford, and Arpit Gupta, an associate professor at NYU Stern, delve into the seismic shifts in work culture sparked by the pandemic. They discuss the pros and cons of hybrid work, exploring how it contributes to employee satisfaction while revealing its effects on urban development. The conversation touches on the 'urban doom loop,' the transition of office spaces, and the surprising rise of startups amidst remote work. They also highlight the ongoing challenges faced by working mothers in balancing their roles.