After 8 years and more than 300 episodes, it was time to either 1) quit, or 2) make the show bigger and better. We voted for number 2. Here’s a peek behind the curtain and a preview of what you’ll be hearing next.
This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
If you'd like to listen to free economic radio without ads the place to do that, is sticker premium five dollars a month and you can get a free month trial by going to stick your premium dot com and use a promo code freak. You also get access to all our bonus. Episodes and you'll be supporting our show to that sticker premium: dot, com, promo code, freak thanks I Mary Robinson, the former president of Ireland and your listening to free economics. Radio without guys and Jimmy Grab, learn your listing, the free economic radio, Richard Taylor and your listening to freak economics. Radio, I'm Reggie Bennet into the acid jazz, our on free can only to radio, and I'm Stephen donor. Freakin amongst radio began as little homemade show in early two thousand ten. The first episode was called the dangers of safety. We looked at how foot helmets originally designed to prevent skull fractures had done that job so well,
EL players now use them as weapons which, if you are a football player, can feel like this. The first thing you need is everyday. Sars survive, like if you laid her head on your cell phone and put her own vibrate and someone called you. Legs. I Jello stand up and you, I won't tell you, buy, do a butcher body in everyday, disconnected the early episodes we're in two of the four economics books. I was writing with this guy let us leave it your favorite thing about doing this, broadcast that you do other work in the beginning. We use the podcast to expand on stuff. We already written about
What comes to mind risk wise when I say the following things: shark attacks, the biggest joke of all time terrorist attacks, the biggest waste of time ever about the risk of just something. Almost everybody does everyday driving your car. Incredibly low that if, if now They were to kill you except drive your car and are, you did was drive your car day and night day by day and night you expect to live for two hundred fifty years, then we started. Take. Questions from listeners is college, education, no longer a factor for even a disadvantage when it comes to employment. I think that never has anyone made a statement more far, study of all this topic,
economists have studied, I would say one we are most written about. Are the returns to education? What about the problem of you know that don't mean transfer people thinking that leave, because their very good are very smart in one or Rina. They cannot develop an attitude of confidence that they think you know people talk about this with doctors, sometimes called the God complex. You think that if you can figure out something like the human body, you can figure just about anything. Do you? Do you see that? oh yeah, that's what we're doing right now with you, and I are good at one thing. You know you're good at writing. I'm good at taking Our data making sense of it, and we sit here and talk like we're good at answering questions in my veins, exactly what we're doing right now, Steve love! It is a very bright guy, so I took his words to heart, I think, the podcast would be more useful and importantly, more fun. If, rather than talking, stuff. We already knew or worse
knowing what we are talking about, we better three. higher to make the show a real thing. Exploratory data driven surprising things. You always thought you knew, but didn't things, you never thought you want to know about, but do, for instance, does more expensive. Wine actually tastes better. We did a tasting brown and we had this exact same wine and both bat, an he told them that one bottle was a fifty dollars bottle. I did read the reviews and he said another was a ten dollars bottle to write the reviews that, if you think a wine is expensive, you also think it tastes better. Otherwise, most people just as happy, if not more so, drinking cheap wine, In another early episode, we won Why so many low income people play the lottery which is dreadful, odds and whether anyone had a better idea. So a lot of me,
I think the lottery is their only chance at winning big sums of money when we take that appetite for gambling and attaches to a savings vehicle that offers some positive return it win, win situation, one listener who heard that episode set out create a win win lottery at state level, just last year, he finally succeeded in Texas, knowing that this had nah podcast turn into one idea that ended up becoming a institutional momentum that I had a piece of that thing. That had happened. It was a super exciting one of my favorite early episodes was about something called the cobra effect. This is where you well intended scheme, but instead of solving the problem it makes the problem actually was. For example, when a government puts a bounty on pests, lake Cobras But the population responded by farming, cobras or rats, the french them
The really make an addendum to the rat population, and a few months later, and one of the health officials is checking out, one is villages on the edge of Hanoi and discovered a rat farm. and the Vienna knees were growing rats, cutting off their tails and bring them into the city to collect the bounty over time. Our little homemade podcast turn to a growing concern. It came to occupy most of my working hours. Sometimes us my waking hours, and now it's been eight years more than three honey. Thirty episodes. Roughly ten mill. In downloads a month in, for me, a bottomless supply of fun and delight and discovery. I've got to speak with more than a thousand bright and Trusting people might spend burn anarchy and death toll February of twenty four
and I was chairman of the Federal Reserve. Ok, my Miss Christina Guard. Die and guarantee the managing director of the International Monetary Fund. The new job there I found was, I was a high and escort somewhere between three and fifty four a hundred dollars in our time Trevor Noah, and I'm a comedian and host of the data show. My name is needed over I'm the editor in chief of five thirty eight. Can you give your full name buried, Nora Chairman Genco COM, Ok so ease your first name, the calf icy yo. Can you give us your full name here? She Yo Sheng, Haynau, Augustus, Eisner Alexander wiser. Of course, Chairman Jacko Connally. So yes, lots of interesting people and ideas. But again, eight years three hundred and thirty episodes began to ask myself what comes next. We, I thought there were three option:
number one keep doing pretty much. What we ve been doing. This wasn't all that appealing. I am in constant fear of being board option number to do less of it or maybe stop entirely. Norway love doing this package and I love you guys are listeners truly, so that left option number three turn up the volume. What? If we try to make economics, radio, bigger, better, more new ideas, new formats, new ways to explore the hidden side of everything we knew. We need some help to pull this off, so we went out and got it. Please give a warm welcome to our new production partner sticker, one of the finest podcast purveyors in the land. Today I'm afraid you a preview of what we ve got in store for you, for the next
cheers friends, stature and deadly productions. This is Reaganomics radio, the path ass. It explores the hidden side of everything. Here's your host, Stephen Definite, to figure out we're going with his show, we first took a long look at where we ve been specially the mistakes we ve made like the episode about the carpal tunnel epidemic, which, for reasons I can no longer recall, featured talking pigeon a lot of our early episodes, entered around the sort of question that most people have the good sense to not ask how much does approach. The United States really mattered its Chris Bannon. He is chief content officer at our new homes,
this is a reunion for us and Ban, and we worked with him way back when at our old producing partner, w and my see that's from November of twenty ten, while the president is by far and away the most important person from a governance point of view the country no their presence. I would say that is not the most powerful person. I think the president really just someone who is sitting in the co pilot seed in a plane authority already on autopilot and that's one of the episode that I think was really a turning point for there relevance of the show to the broadest possible audience right. These aren't chest Narrow economic questions that were bathing in some ivory tower there really to questions that every day people ask themselves and that get very smart and well researched answers.
We did find that whenever we talk to politicians per se or people directly associated with politics, some listeners were bound to get agitated. We interviewed some Democrats, like you, a senator Corey Booker from you The first one how nice would be to say, there's no black, there's no white were all too short. So the rainbow all equal, and that sounds really nice but we live in a society in which you, experience politicians in this country very differently based upon your race? Rhode, Island, Governor Regina Raimondo. Since I've, governor we ve had the money to triple the number of public Pre K. Classrooms in Rhode, island We are for the first time in a long time, fixing our roads and rebuilding our bridges so yeah we took the medicine. or investing like crazy after interviews like that, we'd get a bunch of emails, calling us lived cards. We ve also interviewed
NEO conservatives from this country and elsewhere, young boys, Johns the mayor of London, and that means I'm responsible for planning the strategic direction of the greatest city on earth. we have now and in London. Seventy two billionaires, which is more than New York New York, has any forty three begin as and how about that? Paris has elite. Paris has in the eighteen billion as and Moscow has. I think forty six in a London is to the billionaire as the year as the jungles of Sumatra, the uranium Tang. My name is Charles Coke and I'm german and CEO of coke industries. After these interviews, we get emails. Calling us well, mostly things. I prohibition repeat fact usually pornographic things anyway, We try to not let it bother you personally. I think it's a good idea to speak with people outside the circles usually Travelin, or even better, to expand your circles. That's always been a mission of the show
to entertain ideas that may have value, even if they seem repugnant at first anyway, all that political feedback, was an early indicator of the sharp discord. That's been building over the years in the? U S and elsewhere, discord that politicians. ironically, a real good at exploiting, which led us to make episodes like this. One called ten ideas to make politics less rotten I'd like to get rid of winner takes all elections to elect Congress State legislatures in city councils. The idea that I would like to I am more and buried as quickly as possible. No funeral the notion that we have to have a wide cheering jeering audience at presidential debate, Well, you assume its political tribalism doesn't exist outside of a two party system, There is even more tribalism outside of a two party system, and it is of a more destructive nature, because it is often I was based upon one simple issue or one:
a personality. Political trial This was the inspiration for when the episodes working on now, which you'll hear some time in the next few months. It's about a whole new way of looking at our political system. The EU s political system is a oh fledged industry, importantly its thriving. Even as the customers of that industry. Consumers are acts, the enormously dissatisfied, but this shows bread and butter is economics, not politics, economics and all its glorious permutations, big macro. Questions like whether the american dream was still alive, your twice ass likely, to realize the american dream, if you're growing up in Canada, rather than the? U S whether China really a America's jobs. I think if we have realised how traumatic, the pace of change would have been. We would at a minimum
had much better policies in place and whether the? U S should perhaps copy the german economic model. Germany's call the column in that sense. Here it's not a shareholder economies. A stakeholder economy in Germany the union's have representatives on the board of the company. We learned about the strange ecosystem of organ donations with the ecb- Mr Al Roth, who won the Nobel Prize for helping designers. them to match potential kidney donors. If you're healthy enough, you can remain healthy with just one, and that means, if someone you love, is dying of kidney disease. You could give me kidney and save his life if you happen to be em, if you happen to be a match and that's where kidney exchange comes in
In that episode, inspired a number of people to become kidney donors, not for any one even knew, but for complete strangers. Who happened to be a match like NED, Brooks a Semi retiree from Connecticut. We put him on our show too, along with the woman who received his kidney. Oh my god, I have not spoken to. You also be great Daniele. Can you hear assesses Stephen donor? I aggravated its ned. I know how are you doing I'm doing great God get the fighting is, were excites grid, hear your voice, how you feeling, I'm going God willing real good lately. I've been finished other than the third way better.
I'm doing good lot better than I was you and lots amidst yeah. Unfortunately, I have to be on a tenement for play the risk, my life. We also talked a lot on the issue about behavioral economics, which you you cannot get enough of ideas like temptation, bundling what I realized. but if I only allowed myself to watch Favorite TV shows, while exercising the gym, then I'd stop wasting I'm at home on on useless television and I'd start craving trips to the gem at the end of a long day, because I'd want to find out what happens next, in my show vital patient bundle is to listen to for economics podcast, while running doing right now, when I left to do is skip an afternoon of work and go to the movies. After my annual pap smear, really wish? My temptation bundle was acceptable, but it would be drinking at work. We ve also looked at the economics of sleep.
There's a wide perception that people in the? U S or sleeping less than they used to and the evidence for that is very weak. We looked at the economic, of Hollywood's visual effects industry, I said while it they were making a lot of money and she said actually, not making any money at all and how the economics of Chuckie he's might lead to violence I'm not cyber guy too, to hit somebody and certainly not a child, but it did seem plausible. That's you know some we might start talking, to the kids in the kids. Maybe go get their parents and and and altercation that start that way I can proudly say have never become violent attack. It has never been tempted towards via Turkey to his coming up after the break. I want you to hear from some of the people who helped make this show I don't understand what you're saying banned a preview. what you'll be hearing over the coming weeks and months. First
Your heart was beating to some extent, you'd be dead raid. the reason your tenure second, a daughter duchess movie next week, a break of enthusiasm, complete spare kind of talking away through. Well, it's gonna, be ok, don't get so crazy! That's coming up right! After this, you're a lot of my voice on for economics, radio, but the show is very much a team effort. So I, like you too you're from some people have been making the show over the years, one of the things freak ex, does well, is taking an issue and looking at it from unusual perspectives, but Stephanie Tam, whose produced a bunch of really great episodes, including a three part series called bad medicine. Medical practice was based on bits and scraps. evidence, anecdotes, bias, preconceived notions and probably
out of psychological traps? Something like The last ten drugs pulled from market by the FDA were because of this profound sex difference. Stephanie also produced an episode about why we earthlings still speak so many different languages, and perhaps there should be a universal one. I'm sorry, I don't understand what you're saying savings but how men go? Look at that, then to delight is established had never really thought about the economics of language before the truth is that if we could Dont again, I don't think anybody would wish that the situation was the way it came out and then also, obviously the actual translation costs of having so many different languages. In a particularly global world you're talking about for economics, episodes that are dealing with pretty big, complex,
sometimes, sort of esoteric ideas and trying to make a manageable for people, and this David Herman, who was our technical director for four years and still pitches in on various projects. It might have been the poop episode where I feel like we were really cracked it. The power poop poop, is just what we see too low more complex than that inside, but We can detect or measure most of the constituents of this microbial organ in poop, and it's easy to get that's what we study a provisional measures. Named me on the television being a charlatan for doing fecal transplants and had no idea of the science behind it. It was now the north occurrence way in our got better luck within fifteen seconds. But all I know now is on forty seven years old arrived at the custom chopper. Our travel the world. I have a great time
and unloading. The body will change right. that's a lie now so can't you call it flora, therapy that just sounds like some rose, petals being sprinkled about one patient came back six weeks after and she with a straight face it doctor, when I had my trains persian. I like that we approach subjects sort of without the package of dog. And we try to find answers to questions that go to the heart of what it means to be human beings. That's great resolve ski he's, been producer on our show for a few years now he is a hard core economic. sky very knowledgeable in very into it. Greg's produced a ton of great episode including one that we called. Should we really behave like economists say we do, which was so the primary on behavioral economics, but we'll see about that So it is my turn to sort of bread,
behavioral economy to life. How much would I have to pay you for that see? How much would it cost are you to move from your see, how much would somebody have to pay? You make me this is because your question, how much more that pay me why eighty dollars that seems pretty steep depends on who does somebody was what about me? Limitless Gregg, also produced air of the most popular episodes we ve ever made everything you is waiting about money but we're afraid to ask and the stupidest thing you can do with your money. Its attacks on smart people You don't realize their propensity for doing stupid things. These are people, we charter, very talented, medical. but then, but they have no knowledge of how to manage this money. I said
no we're not gonna do we're not gonna drop it We have the world's first index fund we, now. In the middle of the Copernican Revolution, bout, the problem wait one vast, or at least the rational way, to invest another really popular, serious we made was called self improvement month. So we were surprised that these things that everybody can says matter and it does not matter what specifically are greedy people like what beliefs to gritty people walk around within their head with the right kind of training. Anyone Visual will be able to acquire abilities. I started using this karaoke programme and I started you told me how proud you were, but I walked away and then I started listening and it was. It was really hot.
Before we embark on an episode. We rarely think about whether it will be popular, not we're morphine. This on learning still figuring stuff looking for new ideas. One great thing: economics. Radio audience is that you guys are too when we're curious. About something you tend to be as well so over the next year. Years. We will still ask plenty of classic for economic style questions lake. Why is Denmark? rest of Scandinavia. So damn happy. It's too Danes who is what freedom perhaps is to the Americans? It's about togetherness. It's about pleasure. It's about a warmth and there's no stigmatize leaving it full because you gotta go pick up your kids some day. you gotta go make make supper or you we need to get on with your Hobbes, but will also do more. The self improvement episodes that listeners love like how not to choke under
First, I will just say that I like placebo effects- and I think you know I have no problem with that, but I think it's a real truth, because you know if you're It wasn't beating to some extent, you'd be dead rate and those sweaty arms can be an indication that you're alert and aroused and ready to go and arousal doesn't have to be a bad thing right. It's bad when we start thinking it's bad and then which start changing our performance. I love her your counter actual as eyes or you could be death yeah, it's a good opposite. Well, even learn how to make the perfect pizza at home in others feel so. It's gotta be Sam Marzano, tomatoes grown the slopes of Mount Vesuvius crush. by hand. We ve also that a couple special series in the works- this was inspired by a series we did earlier this year. The secret life of a ceo ten years ago, and I was just trying to help connect people, it colleges and a few school.
the day become Syria to think about drumming a successor, sorry too many entrepreneurs you'd want to cling onto everything and not good delegated. Well, I was in a limb all draw having engineer city. When I got a call from The chairman of the board and tell me, this fire. He didn't Have the nerve to see me face to face now I I too, thank you didn't have the nerve because he he knew. I would probably punched him and was right might be right. I don't know Missouri we're working on now, one is about creativity, who's got it how to get it where it comes from an doesn't Stephanie, again. Creativity is one of those subjects that their problem, a million and one books about, and another million bushy platitudes about. But it's pretty hard. sort out what is actually empirical verses. What is anecdotal
you'll, hear all about the latest research on creativity, but you'll also hear directly from a lot of creatives. Like the movie. Sir Brian Grazer. We nobody whose why a success really works because there's no exact formula the. straighter and writer Myra Common immersed, enthusiasm, complete despair talking away through well, it's gonna, be ok, don't get so crazy, the museum director and passed her neck and the new this morning. I woke up and I think, moreover, sixty different proposals that she had sent to me and we visit Berlin to speak with one, the most prominent and provocative artists in modern history. My name is: I went away, I'm sixty one years old, I was born Nanking, fifty seven in painting China, but of the year. I was born. My father was an exit the other series working on sports such a big topic, such a fascinating topic, we'll talk, you can
Ex labour relations winning and losing and cheating, and everything in between, like Does it really makes sense for a basketball coached benches star play If he's in foul trouble, if you actually culture the numbers it doesn't make sense about the idea of a hot streak. That's the theory! but the evidence is that it, doesn't show up and how to tell. If your team is unlucky, we're just bad, they were just bad bad year after year, statistically, bed year after year, woods losses will hear from- people who own sports teams are more cuban, an almond entrepreneur, my name's jet? I'm the ceo, the San Francisco, forty nine is the San Francisco forty nine hours. That's a team were calling Catherine was playing when he kicked off the anthem. Protests column probably took a different approach than I would have taken by. He certainly brought attention to the matter, you here why coaches work such ridiculously long hours as a
coach you to watch the game for myself, which is often society different society specialty, aims and its end. how many different things you can do one guy is off the players work on either side of all and the pleasant work it could be a her quarterback. It could be a touchdown that can be the reason telling her. Second, A daughter that she's movie next week you hear from them. But who run the athletes unions The ten years I've been here, we ve, probably head somewhere between ten and fifteen state legislature, fights if bill supported by a team owners to take workers comp away from professional athletes, which is terrible and their argument, then, is what it shouldn't be. Their argument is that they are cheap and, of course, you hear from the athletes, including what makes them do what they do.
I was eight when I decided I wanted to be a professional football player and Tom I don't need told me while you Category should do something to get you closer to our goal every day, so I did a bunch of pushups instead that night, in two hours throwing up, I was in love with the game in part because of how violent it was honestly, like whatever sense of masculinity. I had at that age It probably has not fully left me with. A basketball is for the soft kids. Football is for the men, and I want to play. Football you'll also hear what athletes to blow off steam it's no use for the rest of Europe Day Ease and we'll get into the afterlife of the athlete. Now, at this point I don't really know how to have fun really have like super close friends and in a really know what to do with my life
thing, will be doing more of in this new phase of economics, radio, releasing more bonus episodes that future full interviews. Most of our episodes, as you may have noted- include a variety of speakers and we feature the most relevant portions of their interviews to create the episode that me we might leave as much as ninety percent of our interviews on the cutting room floor, but in some cases it's worth publishing the bull barely edited interview. We did this with ours, if a ceo series- and it turned out that listeners loved those full interviews with Zuckerberg and ingenuity, and Adela re Dahlia, Richard Branson, so we're doing more of that to the best way to get all this extra material is to sign up for stature premium our regular weekly for Economics Radio Park S will still be available on all the regular podcast platforms and you're still be hearing it on and pianist.
Across the U S dwells on serious exam, Spotify and elsewhere, but our new partnership with did your gives us some more options. If you the entire archive of economic theory- you episodes from the very beginning just use stitched up, can also go to economics: dot com. Will we also publish train scripts and show notes for every episode and if you sign up for sticker premium, you'll get our tire archive ad free, as well as lots of bonus episodes like the full interviews. I just mentioned just go to stick your premium dot com. Slash free economics, used the code for economics to get one month there'll be a lot of these bonus episodes from our sport series and creativity series. In fact, we ve already posted a few from our recent World CUP episode interviews with the soccer savant Roger Bennet, Simon Cooper, and get them Solomon. Dublin I about Kosovo. two and I'm the biggest and youngest benefactor, nepotism and the podcasting we're on
Argentina, doesnt really have a system. You know what we teach. Moreover, four bullets to do: route Canal all this x, material were producing is in the service of two goals. Number one to make you are listeners. Happy number two here again is Chris Patten constituents. I find that not board. Stephen governor is a happy Stephen governor, so Saward, my I was really don't. Let him get bored Bannon, You know me too well in the interest non boredom, we will also be. Do in some live shows, you can keep an eye out for those details on for economics, dot, com, regional, sign up for our newsletter. bringing back our nonfiction deem show called. Tell me something he wasn't informational teaching show for sure what Stephen Herman again, but it was
kind of, like a cool talent show for the audience, there was a chance to sort of turn microphone around and and hear things that other people had to. The table. So The next time you are in a museum, and you see a painting where the hand is you know placed just so behind a bowl of food on the table, its probably because whoever commission that painting was too cheap to spring for both hands so they're about three thousand different types of bacteria that live in our paper money and flu virus when accompanied by mucus can last for up to seventeen days. Thanks are adding grant is What was so much fun about it was that you know freakin annex as such tightly scripted edited revised re edited re revised show to just have, that was like free form, like you go in there and need recorded free form, scripted and edited special Sierra
how to episodes extra full interviews, there's nothing. We won't try to keep things lively to keep learning together. Keep your ears engage in your brain to. Thank you so much. for spending time with us this past eight years, here's the next few! Meanwhile coming up next time on economics, radio, Richard sailor, the founder of behavioral Economics recently won a Nobel prize. He thinks we almost kept him from doing so. I think this show owes me an apology like on the air. We do not apologize to Richard Taylor, we do ask him about going to Stockholm found the whole thing to be pretty national, partly. Because you know where I came from. Intellectually we get the bumper sticker version of behavioral economics. We don't think,
large dumb? We think the world is hard and what's Taylor got to say about past and future economic meltdown. Well, We seem to learn one lesson and then are not able to extrapolate it to the next one I don't know what the next bubble will. Or whether were already in one its next time Economics, radio, economics, radio is produced I still and W productions. This episode is produced by Harry Huggins. Are staff also includes Allison and very Gregg was asking red ribbon and Andy Mildenheim. Her thanks also to The spanish Stephanie TAT David Herman, the undesirable met Fresco Anders telltale merit Jacob and dozens of other folks who helped produce the episode you heard clips from today. The music you heard throughout Europe, It was composed by Luis Gara. Remember you can get.
We cannot just radio wherever you get your punk ass. Our entire archive is available on the stature. App or free cannot start come, and if you subscribe to stick your premium, you'll get every episode African, I'm afraid you ad free, plus lots of bonus episode, so good. Do that go to stitch up premium dot com, slash freak anomalies, use a promo code for economics to get one month. Free we can also be found on Twitter, Facebook, Linkedin or the email at radio at for economics, dot com thanks as always, Teacher.
Transcript generated on 2021-01-21.