Freakonomics Radio

There are a lot of factors that go into greatness, many of which are not obvious. As the Olympics come to a close, we revisit a 2018 episode in which top athletes from a variety of sports tell us how they made it, and what they sacrificed. SOURCES:Lance Armstrong, former professional cyclist.David Canton, director of African American studies and professor of history at the University of Florida.David Epstein, science journalist and author.Domonique Foxworth, former professional football player.Justin Humphries, former professional baseball player.Andre Ingram, professional basketball player.Shawn Johnson, former professional gymnast and Olympian.Steve Levitt, professor of economics at the University of Chicago.Simone Manuel, professional swimmer and Olympian.Brandon McCarthy, former professional baseball player.Mike McGlinchey, offensive tackle for the Denver Broncos.Daryl Morey, president of basketball operations of the Philadelphia 76ers.Lauren Murphy, professional mixed martial artist.Kim Ng, advisor with

Tania Tetlow, a former federal prosecutor and now the president of Fordham University, thinks the modern campus could use a dose of old-fashioned values. SOURCE:Tania Tetlow, president of Fordham University. RESOURCES:"Not a Priest, Not a Man, but Ready to Run Fordham," by David Waldstein (The New York Times, 2024)."Tech Glitch Upends Financial Aid for About a Million Students," by Oyin Adedoyin and Melissa Korn (The Wall Street Journal, 2024)."Where Protesters on U.S. Campuses Have Been Arrested or Detained," by The New York Times (The New York Times, 2024)."15 Arrested as NYPD Clears Protester Encampment at Fordham's Lincoln Center Campus," (NBC News, 2024)."Inside the Week That Shook Columbia University," by Nicholas Fandos and Sharon Otterman (The New York Times, 2024)."Address of his Holiness Pope Francis to the Members of the Blanquerna — Universitat Ramón Llull Foundation, Barcelona," by Pope Francis (The Holy See Press Office Bulletin, 2024)."Why Don’t Elite Colleges Expand Supply?" by Peter Q. Blair

It’s not oil or water or plutonium — it’s human hours. We've got an idea for putting them to use, and for building a more human-centered economy. But we need your help. SOURCES:Nathan Dietz, research director at the Do Good Institute at the University of Maryland.Al Roth, professor of economics at Stanford University.Krista Wyatt, C.E.O. of Timebanks.org.Andrew Yang, co-chair of the Forward Party and former U.S. presidential candidate. RESOURCES:"The Employment Effects of a Guaranteed Income: Experimental Evidence from Two U.S. States," by Eva Vivalt, Elizabeth Rhodes, Alexander W. Bartik, David E. Broockman, and Sarah Miller (NBER Working Paper, 2024)."Where Are America's Volunteers," by Nathan Dietz and Robert T. Grimm Jr. (Do Good Institute, 2018)."Believe in People," talk by Edgar Cahn at TEDxAshokaU (2010).The Pencil, by Allan Ahlberg (2008).No More Throw-Away People: The Co-Production Imperative, by Edgar S. Cahn (2000).Time Dollars: The New Currency That Enables Americans to Turn Their Hidden Resource-

A new proposal from the Biden administration calls for a nationwide cap on rent increases. Economists think that’s a terrible idea. We revisit a 2019 episode to hear why. SOURCES:Tommy Andersson, professor of economics at Lund University.Vicki Been, professor of law at New York University and former deputy mayor for housing and economic development in New York City.Rebecca Diamond, professor of economics at Stanford Graduate School of Business.David Eisenbach, history lecturer at the Manhattan School of Music and Columbia University.Ed Glaeser, professor of economics at Harvard University. RESOURCES:"The State of the Nation's Housing 2024," by the Joint Center for Housing Studies of Harvard University (2024).“The Effects of Rent Control Expansion on Tenants, Landlords, and Inequality: Evidence from San Francisco,” by Rebecca Diamond, Tim McQuade, and Franklin Qian (American Economic Review, 2019).“Housing Market Spillovers: Evidence from the End of Rent Control in Cambridge, Massachusetts,” by David H. Autor,

That’s the worry. Even the humble eyeglass industry is dominated by a single firm. We look into the global spike in myopia, how the Lemtosh got its name, and what your eye doctor knows that you don’t. (Part two of a two-part series.) SOURCES:Maria Liu, professor of clinical optometry at the University of California, Berkeley.Harvey Moscot, C.E.O. of MOSCOT Eyewear and Eyecare.Zachary Moscot, chief design officer of MOSCOT Eyewear and Eyecare.Cédric Rossi, equity research analyst at Bryan Garnier.Tim Wu, professor of law, science and technology at Columbia Law School. RESOURCES:"Meta in Talks to Buy Stake in Eyewear Giant EssilorLuxottica," by Salvador Rodriguez and Lauren Thomas (The Wall Street Journal, 2024)."The Story Behind Soaring Myopia Among Kids," by Manoush Zomorodi, Katie Monteleone, Sanaz Meshkinpour, and Rachel Faulkner White (Body Electric, 2024)."Why So Many People Need Glasses Now," by Christophe Haubursin (Vox, 2023)."Eyes on World Sight: Taking Action to Advance Eye Health in China," by Essil

A single company, EssilorLuxottica, owns so much of the eyewear industry that it’s hard to escape their gravitational pull — or their “obscene” markups. Should regulators do something? Can Warby Parker steal market share? And how did Ray-Bans become a luxury brand? (Part one of a two-part series.) SOURCES:Neil Blumenthal, co-founder and co-CEO of Warby Parker.Dave Gilboa, co-founder and co-CEO of Warby Parker.Jessica Glasscock, fashion historian and lecturer at the Parsons School of Design.Neil Handley, curator of the British Optical Association Museum at the College of Optometrists.Ryan McDevitt, professor of economics at Duke University.Cédric Rossi, equity research analyst at Bryan Garnier.Tim Wu, professor of law, science and technology at Columbia Law School. RESOURCES:"Leonardo Del Vecchio Dies at 87; Transformed Eyeglass Industry," by Jonathan Kandell (The New York Times, 2022).Making a Spectacle: A Fashionable History of Glasses, by Jessica Glasscock (2021)."Dave Gilboa and Neil Blumenthal: ‍A Vision

You wouldn’t think you could win a Nobel Prize for showing that humans tend to make irrational decisions. But that’s what Richard Thaler has done. In an interview from 2018, the founder of behavioral economics describes his unlikely route to success; his reputation for being lazy; and his efforts to fix the world — one nudge at a time. SOURCES:Richard Thaler, professor of behavioral science and economics at the University of Chicago. RESOURCES:“Behavioral Economics,” by Richard Thaler (The Past, Present, and Future of Economics: A Celebration of the 125-Year Anniversary of the JPE and of Chicago Economics, December 2017).Misbehaving: The Making of Behavioral Economics, by Richard Thaler (2015).Nudge: Improving Decisions About Health, Wealth, and Happiness, by Richard Thaler and Cass Sunstein (2008). EXTRAS:"Farewell to a Generational Talent," by Freakonomics Radio (2024)."Why Is Richard Thaler Such a ****ing Optimist?" by People I (Mostly) Admire (2021)."All You Need Is Nudge," by Freakonomics Radio (2021)."H

Daniel Kahneman left his mark on academia (and the real world) in countless ways. A group of his friends and colleagues recently gathered in Chicago to reflect on this legacy — and we were there, with microphones. SOURCES:Maya Bar-Hillel, professor emeritus of psychology at the Hebrew University of Jerusalem.Shane Frederick, professor of marketing at the Yale School of Management.Thomas Gilovich, professor of psychology at Cornell University.Matt Killingsworth, senior fellow at the Wharton School of the University of Pennsylvania.Barbara Mellers, professor of psychology at the University of Pennsylvania.Eldar Shafir, director of the Kahneman-Treisman Center for Behavioral Science & Public Policy at Princeton University.Richard Thaler, professor of behavioral science and economics at the University of Chicago. RESOURCES:"Experienced Well-Being Rises With Income, Even Above $75,000 Per Year," by Matthew A. Killingsworth (PNAS, 2021)."The False Allure of Fast Lures," by Yigal Attali and Maya Bar-Hillel (Judg

American politics is trapped in a duopoly, with two all-powerful parties colluding to stifle competition. We revisit a 2018 episode to explain how the political industry works, and talk to a reformer (and former presidential candidate) who is pushing for change. SOURCES:Katherine Gehl, former president and C.E.O. of Gehl Foods.Michael Porter, professor at Harvard Business School.Andrew Yang, co-chair of the Forward Party and former U.S. presidential candidate. RESOURCES:"Why U.S. Politics Is Broken — and How to Fix It," by Andrew Yang (TED, 2024).The Politics Industry: How Political Innovation Can Break Partisan Gridlock and Save Our Democracy, by Michael Porter and Katherine Gehl (2020).“Why Competition in the Politics Industry is Failing America,” Katherine Gehl and Michael Porter (Harvard Business School, 2017).“Stronger Parties, Stronger Democracy: Rethinking Reform,” by Ian Vandewalker and  Daniel I. Weiner (Brennan Center for Justice, 2015).On Competition, by Michael Porter (2008).Competitive Strategy:

It’s hard to know whether the benefits of hiring a celebrity are worth the risk. We dig into one gruesome story of an endorsement gone wrong, and find a surprising result. SOURCES:John Cawley, professor of economics at Cornell University.Elizabeth (Zab) Johnson, executive director and senior fellow with the Wharton Neuroscience Initiative at the University of Pennsylvania.Alvin Roth, professor of economics at Stanford University. RESOURCES:"Kanye and Adidas: Money, Misconduct and the Price of Appeasement," by Megan Twohey (The New York Times, 2023)."The Role of Repugnance in Markets: How the Jared Fogle Scandal Affected Patronage of Subway," by John Cawley, Julia Eddelbuettel, Scott Cunningham, Matthew D. Eisenberg, Alan D. Mathios, and Rosemary J. Avery (NBER Working Paper, 2023)."How Celebrity Status and Gaze Direction in Ads Drive Visual Attention to Shape Consumer Decisions," by Simone D'Ambrogio, Noah Werksman, Michael L. Platt, and Elizabeth Johnson (Psychology & Marketing, 2022)."Consumer Responses

Broadway operates on a winner-take-most business model. A runaway hit like Stereophonic — which just won five Tony Awards — will create a few big winners. But even the stars of the show will have to go elsewhere to make real money. (Part two of a two-part series.) SOURCES:David Adjmi, author and playwright.Sonia Friedman, theater producer and founder of Sonia Friedman Productions.John Johnson, theater producer and co-founder of Wagner Johnson Productions.Tom Pecinka, actor.Sarah Pidgeon, actor. RESOURCES:"Tony Award Winners 2024: The Full List," by Rachel Sherman (The New York Times, 2024)."Everything to Know About the Stranger Things: The First Shadow Play in London," by Tara Bitran (Tudum, 2024).Stereophonic, by David Adjmi, Will Butler, and Daniel Aukin (2023). EXTRAS:"How to Make the Coolest Show on Broadway," by Freakonomics Radio (2024).

The Berlin dance mecca Berghain is known for its eight-hour line and inscrutable door policy. PJ Vogt, host of the podcast Search Engine, joins us to crack the code. It has to do with Cold War rivalries, German tax law, and one very talented bouncer. SOURCES:Lutz Leichsenring, executive board member of Clubcommission Berlin and co-founder of VibeLab.PJ Vogt, reporter, writer, and host of the podcast Search Engine. RESOURCES:"Berghain: 36 Hours Inside the World's Most Exclusive Nightclub," by Linux (Paper Magazine, 2022).Berlin Bouncer, documentary by David Dietl (2019)."High Culture Club: Berghain Secures Same Tax Status as Berlin Concert Venues," by Philip Oltermann (The Guardian, 2016)."One Eye on the Door, the Other on His Photography," by Nicholas Kulish (The New York Times, 2011).Lost and Sound: Berlin, Techno and the Easyjet Set, by Tobias Rapp (2009). EXTRA:Search Engine, podcast by PJ Vogt.

Hit by Covid, runaway costs, and a zillion streams of competition, serious theater is in serious trouble. A new hit play called Stereophonic — the most Tony-nominated play in history — has something to say about that. We speak with the people who make it happen every night. (Part one of a two-part series.) SOURCES:David Adjmi, author and playwright.Sonia Friedman, theater producer and founder of Sonia Friedman Productions.John Johnson, theater producer and co-founder of Wagner Johnson Productions.Tom Pecinka, actor.Sarah Pidgeon, actor. RESOURCES:Stereophonic, by David Adjmi, Will Butler, and Daniel Aukin (2023).Lot Six: A Memoir, by David Adjmi (2020)."On the Performing Arts: The Anatomy of Their Economic Problems," by W. J. Baumol and W. G. Bowen (The American Economic Review, 1965).

Every December, a British man named Tom Whitwell publishes a list of 52 things he’s learned that year. These fascinating facts reveal the spectrum of human behavior, from fraud and hypocrisy to Whitwell’s steadfast belief in progress. Should we also believe? SOURCES:Tom Whitwell, managing consultant at Magnetic. RESOURCES:"Supercentenarian and Remarkable Age Records Exhibit Patterns Indicative of Clerical Errors and Pension Fraud," by Saul Justin Newman (Working Paper, 2024)."52 things I learned in 2023," by Tom Whitwell (Magnetic Notes, 2023)."Job Satisfaction 2023," by The Conference Board (2023)."What Fax Machines and Floppy Disks Reveal About Britain’s Productivity Problem," (The Economist, 2017).Fighting Traffic: The Dawn of the Motor Age in the American City, by Peter D. Norton (2008)."Beyond Propaganda," by John Kenney (The New York Times, 2006).

An update of our 2020 series, in which we spoke with physicians, researchers, and addicts about the root causes of the crisis — and the tension between abstinence and harm reduction. SOURCES:Gail D’Onofrio, professor and chair of emergency medicine at the Yale School of Medicine and chief of emergency services at Yale-New Haven Health.Keith Humphreys, professor of psychiatry and behavioral sciences at Stanford University.Stephen Loyd, chief medical officer of Cedar Recovery and chair of the Tennessee Opioid Abatement Council.Nicole O’Donnell, certified recovery specialist at the University of Pennsylvania's Center for Addiction Medicine and Policy.Jeanmarie Perrone, professor of emergency medicine at the University of Pennsylvania.Eileen Richardson, restaurant manager. RESOURCES:“Toward Healthy Drug Policy in the United States — The Case of Safehouse,” by Evan D. Anderson, Leo Beletsky, Scott Burris, and Corey S. Davis (The New England Journal of Medicine, 2020).“Buprenorphine Deregulation and Mainstreaming T

Thanks to legal settlements with drug makers and distributors, states have plenty of money to boost prevention and treatment. Will it work? (Part two of a two-part series.) SOURCES:Keith Humphreys, professor of psychiatry and behavioral sciences at Stanford University.Stephen Loyd, chief medical officer of Cedar Recovery and chair of the Tennessee Opioid Abatement Council.Christine Minhee, founder of OpioidSettlementTracker.com. RESOURCES:"Court Conflicted Over Purdue Pharma Bankruptcy Plan That Shields Sacklers From Liability," by Amy Howe (SCOTUSblog, 2023).NationalOpioidSettlement.com.OpioidSettlementTracker.com.The Helios Alliance. EXTRAS:"The Opioid Tragedy, Part 2: 'It’s Not a Death Sentence,'" by Freakonomics Radio (2020).

Most epidemics flare up, do their damage, and fade away. This one has been raging for almost 30 years. To find out why, it’s time to ask some uncomfortable questions. (Part one of a two-part series.) SOURCES:David Cutler, professor of economics at Harvard University.Travis Donahoe, professor of health policy and management at the University of Pittsburgh.Keith Humphreys, professor of psychiatry and behavioral sciences at Stanford University.Stephen Loyd, chief medical officer of Cedar Recovery and chair of the Tennessee Opioid Abatement Council. RESOURCES:"Thick Market Externalities and the Persistence of the Opioid Epidemic," by David Cutler and J. Travis Donahoe (NBER Working Paper, 2024)."Responding to the Opioid Crisis in North America and Beyond: Recommendations of the Stanford-Lancet Commission," by Keith Humphreys, Chelsea L. Shover, Christine Timko, et al. (The Lancet, 2022)."When Innovation Goes Wrong: Technological Regress and the Opioid Epidemic," by David Cutler and Edward Glaeser (Journal of Econ

Presenting two stories from The Economics of Everyday Things: Why does it seem like every car is black, white, or gray these days? And: How self-storage took over America. SOURCES:Tom Crockett, classic car enthusiast.Zachary Dickens, executive vice president and chief investment officer of Extra Space Storage.Mark Gutjahr, global head of design at BASF.Kara Kolodziej, self-storage unit tenant.Anne Mari DeCoster, self-storage consultant.Nikkie Riedel, carline planning manager at Subaru of America. RESOURCES:“A Fifth Of Americans Rent Self Storage, With Millennials Overtaking Gen Xers In Generational Storage Wars,” by Francis Chantree (Storage Cafe, 2024).“Lessors of Mini Warehouses and Self-Storage Units Show Significant Financial Gains During COVID-19 Pandemic,” by Ben Chandler and Robin Enlow (United States Census Bureau, 2024).BASF Color Report 2023 for Automotive OEM Coatings, (2023).“The Fate of Oversupplied Self-Storage Markets and How to Pull Back From the Brink,” by Frank DeSalvo and David Perlleshi (I

The economist and social critic Glenn Loury has led a remarkably turbulent life, both professionally and personally. In a new memoir, he has chosen to reveal just about everything. Why? SOURCE:Glenn Loury, professor of economics at Brown University and host of The Glenn Show. RESOURCES:Late Admissions: Confessions of a Black Conservative, by Glenn Loury (2024)."Amy Wax – The DEI Witch Hunt at Penn Law," by Glenn Loury (The Glenn Show, 2024)."The Conservative Line on Race," by Glenn Loury (The Atlantic, 1997)."Will Affirmative-Action Policies Eliminate Negative Stereotypes?" by Stephen Coate and Glenn Loury (The American Economic Review, 1993). EXTRAS:"Roland Fryer Refuses to Lie to Black America," by Freakonomics Radio (2022)."How Much Does Discrimination Hurt the Economy?" by Freakonomics Radio (2021)."The Pros and Cons of Reparations," by Freakonomics Radio (2020).

The employee ownership movement is growing, and one of its biggest champions is also a private equity heavyweight. Is this meaningful change, or just window dressing? SOURCES:Marjorie Kelly, distinguished senior fellow at The Democracy Collaborative.Corey Rosen, founder and senior staff member of the National Center for Employee Ownership.Pete Stavros, co-head of Global Private Equity at KKR. RESOURCES:"Private Equity Is Starting to Share With Workers, Without Taking a Financial Hit," by Lydia DePillis (The New York Times, 2024)."Private Equity Heavyweight Pushing Employee Ownership," (60 Minutes, 2024)."Ownership Works: Scaling a Profitable Social Mission," by Ethan Rouen, Dennis Campbell, and Andrew Robinson (HBS Case Collection, 2023)."Research on Employee Ownership," by the National Center for Employee Ownership (2023).Wealth Supremacy: How the Extractive Economy and the Biased Rules of Capitalism Drive Today’s Crises, by Marjorie Kelly (2023)."Is Private Equity Joining — or Co-Opting—the Employee Ownersh