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Capitalisn't

Capitalisn't

University of Chicago Podcast Network

Is capitalism the engine of destruction or the engine of prosperity? On this podcast we talk about the ways capitalism is—or more often isn’t—working in our world today. Hosted by Vanity Fair contributing editor, Bethany McLean and world renowned economics professor Luigi Zingales, we explain how capitalism can go wrong, and what we can do to fix it. Cover photo attributions: https://www.chicagobooth.edu/research/stigler/about/capitalisnt. If you would like to send us feedback, suggestions for guests we should bring on, or connect with Bethany and Luigi, please email: contact at capitalisnt dot com. If you like our show, we'd greatly appreciate you giving us a rating or a review. It helps other listeners find us too.
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Top 10 Capitalisn't Episodes

Goodpods has curated a list of the 10 best Capitalisn't episodes, ranked by the number of listens and likes each episode have garnered from our listeners. If you are listening to Capitalisn't for the first time, there's no better place to start than with one of these standout episodes. If you are a fan of the show, vote for your favorite Capitalisn't episode by adding your comments to the episode page.

We’re taking a week off here at the end of the summer, but with Biden’s recent student loan announcement we couldn’t help but think back to our episode about student debt with Constatine Yannelis. Before he was elected, Biden had promised to remove 50K in debt from borrowers. His recent announcement doesn’t quite match that promise, but this episode still contains an incredible amount of vital information about our student debt problem, who really benefits from forgiveness, and what are real solutions for the future. We hope you enjoy, and thanks for listening. Your support is crucial to keeping our show going, so please tell your friends and family to give us a listen and a review. We’ll be back in two weeks with a brand new episode of Capitalisn’t. As Bethany mentions during the episode, if you are a journalist with some years of media experience and have an interest in deepening your knowledge and understanding of the many issues we cover on this podcast, you are encouraged to apply for the Stigler Center Journalists in Residence program, which offers training in business fundamentals at Chicago Booth. Learn more, share, and apply: www.chicagobooth.edu/stiglerjir
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A wet hot antitrust summer is in the news, mainly because of the Biden administration appointees continuing to take an aggressive approach to enforcement. Why is this important, and how has antitrust thinking evolved over time? In this conversation, Bethany and Luigi draw from his long-standing research and from the Stigler Center's most recent antitrust conference exploring new paradigms of traditional economic ideas. Together, they trace the evolution of antitrust from its fraught foundations to today's version, shaped by decades of political, economic, and legal minds. In the process, they spell out what a changing antitrust landscape could mean for us all.

Show Notes:

  • Read a summary of the antitrust conference on ProMarket
  • Watch the panel hosted by Luigi, which he references in the episode
  • Revisit our episode from last year on recent research by Luigi and co-authors on declining antitrust enforcement in the U.S.
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"Poverty will be abolished in America only when a mass movement demands it," writes Princeton sociologist and Pulitzer Prize-winning author Matthew Desmond in his new book, "Poverty, by America." Building on his own lived experiences of growing up poor and continued contact with impoverished communities that "forces [him] to be intellectually honest," he claims that poverty persists in America not because we are incapable of preventing it but because society - and especially the wealthy - benefits from it at the expense of the poor.

Bethany and Luigi draw from their recent conversation with former U.S. Sen. Phil Gramm, who argued against the premise altogether and said that poverty in America is not as terrible a "scourge" as many like Desmond claim it to be. With Desmond, our hosts discuss his views on the complex and deeply entrenched root causes of poverty, its relationship with the American capitalist system, and how we could build on individual choices - towards which we have otherwise been so stubbornly resistant - to end poverty.

Show Notes:

  1. In case you missed it, here's Bethany and Luigi's conversation with Sen. Phil Gramm: "Is American Inequality a Myth?"
  2. Read related reading on ProMarket: "Monopolies: Silent Spreaders of Poverty and Economic Inequality" and a conversation with Nobel Prize-winning economist Angus Deaton on "The Under-Discussed Driver of Inequality in America."
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Daniel Ziblatt is an American political scientist, Eaton Professor of the Science of Government at Harvard University, and the co-author (with Steven Levitsky) of several bestselling books, including How Democracies Die and Tyranny of the Minority. Ziblatt writes from the position that what defines strong democracies is free and fair competition for power, inclusive participation, and a package of civil liberties that make those first two conditions possible.

2024 saw voters in more than 60 countries go to the polls—and deliver difficult outcomes for incumbents and traditional political parties. This week, Ziblatt joins Bethany and Luigi to discuss the fate of democracy after 2024. They explore how big money and corporate power have destabilized democracies worldwide by interfering with the conditions for free and fair competition for power. The consequence has been the movement of voters toward political extremes, which in turn can often threaten economic growth, civil liberties, and the rule of law. Nevertheless, should we judge the strength of democracy by process or outcome? Does democracy still thrive when the people vote for undemocratic politicians and parties?

Together, Ziblatt and our co-hosts discuss how to curb global democratic decline by realigning government away from the interests of corporations or big money and back to those of the people.

Episode Notes:

Revisit ProMarket’s series seeking to understand the issues of political economy driving global populist movements during the 2024 “year of elections.”

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Glenn Hubbard is Professor and Dean Emeritus at Columbia Business School, and also served as Chair of the U.S. Council of Economic Advisers, among others. In his new book, "The Wall and the Bridge: Fear and Opportunity in Disruption's Wake", he addresses the underlying forces behind the global populist anxiety by reimagining the process of "building bridges, not walls". He talks with Bethany and Luigi about trade, reforming social insurance, preparing the labor force for technological change, and the role of state, markets, and community in the economy. For our Is/Isn't segment (43:44), Bethany and Luigi discuss the latest antitrust effort in the U.S. Congress to regulate Big Tech – the American Innovation and Choice Online Act, which could be up for a vote this summer.
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Concerns about the political power of Big Tech and lack of competition are at an all-time high. The business model of Facebook, Google, Twitter, ect. seem to be creating a race to the bottom for the discourse in our social and political lives. Many have argued we should turn to anti-trust laws as a way to solve this problem, but Nobel laureate Paul Romer says they may not be enough. In this episode, Romer presents his argument for why the implementation of a digital advertising tax could address the size and business model of these tech firms.
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Environmental, social and governance investing, also know as ESG, has exploded in recent years. It promises to help us solve problems like climate change and inequality all while allowing investors to still turn a profit. But BlackRock’s former global chief investment office for sustainable investing, Tariq Fancy, says it isn't what's being advertised. Recently, he penned a blog post claiming that not only are ESGs not making societal problems better, they may actively be making them worse.
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As the devastation in Ukraine increases, so do the calls to end the war. Among those championing tougher actions is Bill Browder—one of Putin’s most vocal critics—and the man behind the Magnitsky Act, which authorizes the U.S. government to sanction human rights offenders. Browder has been advocating for expanding the list of sanctioned pro-Kremlin Russian oligarchs. He prescribes that Western lawyers, bankers, and other enablers of these oligarchs should also be held responsible. Browder's new book, “Freezing Order: A True Story of Money Laundering, Murder, and Surviving Vladimir Putin's Wrath”, is out April 12.
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Francis Fukuyama is an American political scientist and author, notably of The End of History (1992) and Trust: Social Virtues and Creation of Prosperity (1995). Now, in his new book, he offers liberalism as a solution to our current problems of social bifurcation, if paired with other functional institutions of a democracy. Bethany and Luigi sit down with Fukuyama to understand: What does liberalism even mean? What are its excesses and its critiques from the progressive left? How dependent is it on traditional notions of growth and prosperity, and can it be implemented effectively in an unequal society?
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Capitalisn't - Is Silicon Valley Turning Fascist?
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04/03/25 • 37 min

Silicon Valley’s traditionally Democratic tech leaders are turning toward President Donald Trump, but are the reasons as straightforward as lower taxes and favorable regulations? Perhaps not, if we consider the influence of a convoluted political philosophy called the “Dark Enlightenment.” Washington and Silicon Valley power players, including Vice President JD Vance, Steve Bannon, Peter Thiel, and Marc Andreessen, have all cited the philosophy’s ideas and one of its leading developers, Curtis Yarvin. Yarvin was reportedly present at Trump’s inaugural gala as an informal guest of honor.

In a nutshell, Dark Enlightenment rejects liberal democracy as an outdated software system incompatible with freedom and progress. Instead, it argues for breaking up the nation-state into smaller authoritarian city-states, which Yarvin calls “patchworks.” These patchworks will be controlled by tech corporations and run by CEOs. The theory is attached to another idea called accelerationism, which harnesses capitalism and technology to induce radical social change. In fact, Yarvin proposed a plan he called “RAGE”—or “Retire All Government Employees”—as far back as 2012.

So, how did this obscure and oxymoronically named philosophy reach the highest echelons of business and political power? Bethany and Luigi trace the theory from its origins to its practical manifestations in Elon Musk’s Department of Government Efficiency, Silicon Valley’s race to develop artificial intelligence, and the growing push for “Freedom Cities” unfettered from federal regulations. Are the people embracing Dark Enlightenment espousing its ideas because they genuinely believe it is the way forward for humanity? Or do they believe it because it's a way for them to make money? What does it mean for capitalism and democracy if the administration runs the federal government like a tech company?

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FAQ

How many episodes does Capitalisn't have?

Capitalisn't currently has 208 episodes available.

What topics does Capitalisn't cover?

The podcast is about Markets, Microeconomics, Research, Capitalism, Policy, Growth, Podcasts, Finance, Economics, Education, Chicago, Macroeconomics, Business, Politics and Government.

What is the most popular episode on Capitalisn't?

The episode title 'Regulating Facebook and Google Pt 3: Tyler Cowen Rebuttals' is the most popular.

What is the average episode length on Capitalisn't?

The average episode length on Capitalisn't is 42 minutes.

How often are episodes of Capitalisn't released?

Episodes of Capitalisn't are typically released every 14 days.

When was the first episode of Capitalisn't?

The first episode of Capitalisn't was released on Dec 17, 2017.

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