Freakonomics Radio

In this insightful discussion, Ruth Simmons, the former president of Smith College and Brown University, examines the evolving role of higher education in America. She highlights the market-like behavior of colleges competing for prestige, while addressing the widening gap between elite institutions and community colleges. Simmons emphasizes the transformative power of education, particularly for underrepresented communities, and the crucial support offered by Historically Black Colleges and Universities (HBCUs). The conversation raises vital questions about access, inequality, and the true purpose of college.

Lance Armstrong, a cycling icon with a controversial past, joins David Canton, a history professor, David Epstein, a science journalist, and Domonique Foxworth, a former NFL player, to dissect the hidden factors of athletic success. They explore how genetics, mental toughness, and sheer luck shape elite athletes. The discussion dives into the financial barriers in youth sports and the emotional sacrifices athletes often make. They also reflect on unique journeys in competitive sports, emphasizing resilience and the often-overlooked paths to greatness.

Tania Tetlow, the first lay president of Fordham University and a former federal prosecutor, discusses the need for traditional values on campus. She highlights the delicate balance of student protests amid rising tensions, advocating for respectful dialogue over confrontation. Tetlow also addresses the financial strains on universities and the importance of ethical admissions policies to foster educational equity. Her unique leadership perspective sheds light on how to navigate the complexities of modern higher education while maintaining community responsibility.

Andrew Yang, an entrepreneur and former presidential candidate advocating for universal basic income, joins Al Roth, a Nobel Prize-winning economist known for his work in market design. They discuss the untapped potential of human hours, exploring time banking as a way to foster community and reshape economic systems. The duo examines how such innovative currencies can alleviate isolation and promote engagement, while also addressing the challenges of valuing time as a commodity in the economy.

Rebecca Diamond, an economics professor at Stanford, and Harvard's Ed Glaeser delve into the pitfalls of rent control. They discuss a new proposal from the Biden administration and why economists believe it spells disaster. The conversation uncovers historical contexts and unintended consequences of rent control measures, illustrating their impact on housing supply and affordability. With insights from case studies and real-world effects, they tackle the ongoing debate about the balance between tenant support and market realities.

Maria Liu, a professor of clinical optometry at UC Berkeley, dives into the alarming rise of myopia and the significant overconsolidation in the eyewear industry. She discusses how corporate dominance affects consumer prices and democratic values. The episode highlights innovative approaches to myopia management and the importance of quality eyewear tailored to individual needs. Liu also explores the environmental factors contributing to myopia and the expanding market for corrective lenses, shedding light on this urgent public health issue.

Co-founders of Warby Parker and a fashion historian discuss the eyewear industry, EssilorLuxottica's market dominance, Ray-Ban's luxury status, and antitrust concerns. Explore high prices, historical evolution, monopolies, and Warby Parker's disruption. Government intervention, new challengers like Warby Parker, and strategies for affordable eyeglasses are also discussed.

Richard Thaler, a Nobel laureate and pioneer in behavioral economics, shares his journey from unlikely winner to academic influencer. He humorously discusses human irrationality and how small 'nudges' can improve decision-making in finance and charity. Thaler reflects on past economic crises, the impact of behavioral insights on policies, and challenges like Bitcoin skepticism. He also candidly addresses the complexities of life after winning the Nobel Prize, emphasizing that success doesn't shield one from daily struggles.

Shane Frederick, a marketing professor at Yale, and Matt Killingsworth, a senior fellow at Wharton, gather to celebrate Daniel Kahneman's enormous impact on behavioral economics. They explore key concepts like loss aversion and the planning fallacy while reflecting on Kahneman's collaborative spirit in scientific research. The duo delves into the complex relationship between income and happiness, discussing innovative methodologies that challenge conventional wisdom. Additionally, they emphasize the importance of adversarial collaboration in enhancing research integrity.

In this thought-provoking discussion, Andrew Yang, a former presidential candidate and entrepreneur, joins Michael Porter, a Harvard Business School professor, and Katherine Gehl, a former CEO, to tackle the flaws of the American political duopoly. They explore how entrenched parties stifle competition and the challenges faced by reform-minded candidates. The trio emphasizes innovative solutions like ranked choice voting and nonpartisan primaries to revitalize democracy, advocating for structural reforms to better represent voters and foster genuine political competition.