Podcast

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Luigi Zingales (University of Chicago) and I host a bi-monthly podcast called Capitalisn’t about what’s working in capitalism today — and, more importantly, what isn’t. Check out the descriptions of our episodes below. You can listen to the episodes at capitalisnt.com, or subscribe on Apple Podcasts (or wherever you get your podcasts).

  • Regulating Facebook and Google Pt 1: Markets
    As digital platforms like Facebook and Google become globally powerful, some countries are investigating and even proposing legislation to regulate these companies. Building off a conference happening at the Stigler Center at the University of Chicago, Kate and Luigi speak with Fiona Scott Morton, a Professor of Economics at Yale, to interrogate these platforms from a traditional market structure perspective.
  • The Morality or Immorality of A Wealth Tax
    With Democrats like Alexandria Ocasio-Cortez and presidential candidate Elizabeth Warren proposing wealth taxes, Kate and Luigi break down how these taxes have or haven't worked in other countries and whether they could work in America.
  • The Ups and Downs of IPOs
    There’s an acronym you’ve probably heard in the news a lot lately: IPO. With companies like Pinterest, Airbnb and UBER all considering going public this year, Kate and Luigi break down why these companies already have huge valuations, and whether rich people have an unfair advantage when it comes to investing.
  • Codetermination: A Seat At The Table
    Last year Elizabeth Warren proposed the controversial Accountable Capitalism Act. One of its most talked about proposals was focused on "codetermination." Kate & Luigi explain how it works, its effectiveness and examine one country that's been trying it out since the 1950s.
  • Is Global Antitrust Off the Rails?
    In the wake of a blocked merger between the German and French rail giants Siemens and Alstom, Kate & Luigi debate the role of global antitrust regulators. How do they protect consumers while also helping domestic companies compete with state-supported rivals from China?
  • Millennial Socialists
    Are millennials giving up on capitalism? A recent survey found a majority now prefer socialism. Luigi gets the scoop from our resident millennial, Kate, who says most simply want European-style social welfare, student-loan debt relief and campaign finance reform. Is that really so radical?
  • Pollution Pt 2: Contaminated Research
    In our second episode on pollution, investigative journalist Carey Gillam joins Kate and Luigi to discuss her new book "Whitewash: The Story of a Weed Killer, Cancer, and the Corruption of Science." Gillam reveals how pesticide companies secretly influence scientific research and avoid EPA regulations.
  • Pollution Pt 1: The Sticky Side of Teflon
    In the first of a two-part series on pollution, Kate and Luigi discuss the health hazards and economic costs of air pollution and contaminated drinking water from the toxic chemical PFOA (C8) found in Teflon. How did DuPont skirt regulation and avoid corporate responsibility for so long?
  • Warrenomics
    As Sen. Elizabeth Warren (D-Mass) jumps into the 2020 Presidential race, Kate and Luigi examine her legislative record and economic policy proposals, including several bold ideas to reform American capitalism.
  • Why Capitalism Needs Journalism
    Pulitzer Prize-winning journalist Steven Pearlstein drops by to talk about the incredible shrinking newspaper -- especially the business section -- and why that's bad for the economy. His new book "Can American Capitalism Survive?" argues that the mantra of 'maximizing shareholder value' ultimately caused Americans to lose faith in the free market.
  • The Financial Assassin
    Fahmi Quadir thinks short sellers get a bad rap. Known as the "financial assassin" for helping expose fraud and misconduct at Valeant, she tells Luigi that Tesla might be next. But Kate isn't convinced -- she thinks journalists and regulators are the real heroes.
  • Global Inequality Pt 2: Divergence
    In the second of a two-part look at global inequality Kate & Luigi talk about the downside of globalization. A listener's email sparks a conversation about what's driving the growing wage gap within the U.S. We survey the latest research on the lingering effects of the 'China Shock' and debate how to reverse the trend before the people revolt.
  • Global Inequality Pt 1: Convergence
    In the first of a two-part look at global inequality Kate & Luigi talk about the upside of globalization -- a decrease in income inequality between countries over the last few decades. How much of this can be attributed to China, and what was the secret to their success?
  • The People Vs. Democracy
    Yascha Mounk talks with Kate & Luigi about his new book "The People Vs. Democracy: Why Our Freedom Is in Danger and How to Save It." Recorded in front of a live audience, the conversation touches on recent populist uprisings and the extent to which they threaten liberal democracy.
  • Brazil on the Brink
    Populism strikes again as the world's 4th largest democracy is set to elect controversial right-wing politician Jair Bolsonaro as its next leader. Writer and lawyer Glenn Greenwald (now living in Brazil) tells Kate & Luigi how rampant corruption, violent crime and a struggling economy have given rise to yet another populist movement.
  • Ten Years Later Pt 3: The Next Crisis
    In our third and final episode on the 2008 financial crisis, Kate & Luigi look at recent volatility in the markets and try to predict the cause of the next financial crash with help from prominent economists Robert Shiller and Lawrence Summers.
  • Live taping of Capitalisn't in Chicago on October 8th
    Join us for a live taping of Capitalisn't on October 8 in Chicago! Author Yascha Mounk will discuss his latest book, The People vs. Democracy, with co-hosts Luigi Zingales and Kate Waldock. Click here for details and free tickets! https://www.eventbrite.com/e/the-people-vs-democracy-with-yascha-mounk-katherine-waldock-and-luigi-zingales-tickets-49992656381
  • Ten Years Later Pt 2: The Aftermath
    The second in a 3-part series on the 2008 financial crisis. In the weeks after the crash Luigi remembers petitioning the government for a better bank bailout. Looking back, he and Kate review everything from TARP to Dodd-Frank to see how we averted a worse recession. But did some CEOs get away with fraud?
  • Ten Years Later Pt 1: The Build-Up
    The first in a 3-part series on the 2008 financial crisis. Kate tells Luigi about being an intern at Lehman Brothers when it collapsed and then we debate the causes including subprime mortgages, investor fraud and an ill-advised speech from former President George W. Bush.
  • Sex, Power and the Ivory Tower
    Economists experience their first major #MeToo moment. Kate and Luigi explore the larger implications of a recent case involving a Columbia University professor who was found liable for retaliation against a female junior faculty member.
  • Antitrust Pt 3: The Europeans
    Our third and final episode on antitrust law looks at the E.U.'s recent $5 billion fine against Google. Kate and Luigi hear about double-sided markets from Nobel-winning economist Jean Tirole and explore the E.U. vs. U.S. approach to antitrust enforcement.
  • Antitrust Pt 2: The Populists
    The second in a special 3-part series on antitrust law. Kate and Luigi talk with Lina Khan, author of the article “Amazon’s Antitrust Paradox,” and a member of the New Brandeis Movement, which believes that antitrust enforcement should be more broadly applied and not just rely on consumer welfare.
  • Antitrust Pt 1: The Establishment
    The first in a special 3-part series on antitrust law. In the wake of the approved merger between giants AT&T and Time Warner, Kate and Luigi talk with a leading expert, Carl Shapiro, about the evolving concept of consumer welfare and whether antitrust law needs to change with the times.
  • The Reluctant Central Banker
    Do central bankers have too much power? Paul Tucker, a former official at the Bank of England during the 2008 financial crisis and author of the new book 'Unelected Power,' explains to Kate and Luigi how technocratic hubris can imperil democracy.
  • Abdomenable Transactions
    Should a kidney be sold to the highest bidder? Luigi and Kate debate Nobel-winning economist Al Roth whose algorithm for kidney transplants has saved more than 6000 lives. Roth says matching markets could be used for everything from online dating to the global refugee crisis.
  • All Roads Lead to Rome
    Why was Steve Bannon in Rome last week? Luigi and Kate look at the recent formation of Italy's populist government and analyze Bannon's attempt to forge a similar left-right coalition in the U.S. uniting supporters of Bernie Sanders and Donald Trump.
  • Two Billion 'Truman Shows'
    Tristan Harris, a former design ethicist at Google and “the closest thing Silicon Valley has to a conscience,” warns Kate & Luigi about targeted digital advertising that creates individual, orchestrated experiences dictated by nothing more than an algorithm.
  • Opinions for Sale
    As ad revenue continues to decline more and more news organizations are turning to paid and sponsored content. Luigi and Kate revisit the decades-old music payola scandal and debate how to ensure proper disclosure in the digital age.
  • Mo Crypto Mo Problems
    In the brave new world of cryptocurrency the latest frenzy involves Initial Coin Offerings (ICOs), which make Bitcoin look tame by comparison. Luigi and Kate explore this volatile, largely unregulated market and consider creating their own ICO.
  • Worse Than Brexit
    ‘Quitaly.’ ‘Italeave.’ Whatever you call it, Italy’s recent election results are stoking fears that the once staunch supporter of the EU may be the next country to exit. Kate asks Luigi, our resident Italian expert, how we got here and why it matters.
  • Regulating Financial Weapons of Mass Destruction
    10 years after dark pools of derivatives contributed to the Great Recession, former Commodity Futures Trading Commissioner Sharon Bowen tells Kate & Luigi how she helped bring transparency to the market and visited a few grain silos along the way.
  • A Firm Grip on the Labor Market
    The U.S. economy may be booming, but despite a recent uptick wage growth remains stubbornly flat. Kate & Luigi examine the effect of monopsonies in the labor market among concentrated industries like Big Tech. Are companies colluding against workers and driving down wages?
  • O. Contin Pusher, M.D.
    Are doctors and pharmaceutical companies to blame for the opioid epidemic? Kate & Luigi look at the role of supply and demand in fueling the distribution of prescription painkillers, and discuss the regulatory ramifications for medical marijuana.
  • The Moral Case Against the MBA
    Are elite MBA programs producing morally bankrupt administrators? Duff McDonald, author of “The Golden Passport,” tries to convince Luigi & Kate that conflicts of interest and flawed case studies amount to an unethical education that harms society.
  • Capital Isn't in the 21st Century
    Five years after Thomas Piketty’s surprise bestseller captured the zeitgeist of an anxious age, Kate and Luigi revisit the book to see how it holds up in the current political and economic climate. The verdict? Intriguing analysis, but limited impact.
  • Strange Fedfellows
    It’s been 6 years since a member of the Federal Reserve improperly leaked information to an analyst. Kate & Luigi wonder what's really changed. Is the Fed still too cozy with big banks, the media and others with a financial stake in monetary policy?
  • College: What is it Good For?
    As college enrollment goes up, social mobility continues its 50-year decline. Luigi and Kate look for answers in the latest research on the role of higher education. Are today’s universities engines of social mobility or simply bastions of privilege?
  • Mutual Understanding: Is Your 401k Working Against You?
    Luigi shops for an airline ticket and ponders how our retirement investments might be hurting our wallets. New research suggests that giant mutual funds with large stakes in the companies of one industry can lead to reduced competition and higher prices.
  • Obama Wanted a Corporate Tax Cut Too
    The new tax reform bill includes a dramatic reduction in the U.S. corporate tax rate. Is this a hand-out to the rich or a necessary measure to spur the economy? Luigi and Kate debate the pros and cons and break down the law’s impact on pass-through businesses.
  • Hail to the Chief of Facebook
    Not long ago Facebook CEO Mark Zuckerberg hinted at a run for political office. Luigi and Kate debate whether a President Zuckerberg would give the social media giant a dangerous monopoly. Should government regulators do something to limit its power?
  • Capitalisn't Trailer
    Luigi and Kate deliberate over the topics that will be discussed on Capitalisn't -- they range from market power to Italian history.