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 author and journalist Bethany McLean and world renowned economist 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.
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.
Episodes
Mentioned books
52 snips
Mar 26, 2026 • 31min
Is Everyone Getting Adam Smith Wrong? - ft. Glory Liu
Glory Liu, Georgetown assistant professor and author of Adam Smith's America, reclaims Smith as a thinker worried about power and concentrated wealth. She explains how Smith was narrowed to the 'invisible hand'. The conversation probes merchant influence, institutional capture, and whether reviving Smith's moral lens can rethink modern corporate domination.
42 snips
Mar 12, 2026 • 42min
Why Human Progress Is Not Inevitable - ft. Carl Frey
Carl Frey, Oxford economist and author of How Progress Ends, warns that technological progress is fragile and shaped by institutions. He explores why decentralised experimentation matters, how centralised power and incumbents can choke innovation, and whether the US and China are sliding toward stagnation. The conversation probes patents, regulation, competition, and possible remedies to revive dynamism.
71 snips
Mar 5, 2026 • 50min
The Hidden Economic Dangers Of Supreme Court Overreach - ft. Steve Vladeck
Steve Vladeck, Georgetown law professor and Supreme Court expert, discusses how congressional abdication and strategic litigation let courts reshape economic rules. He outlines how docket control, interest groups, and institutional incentives shifted power. Short, sharp takes on who benefits, what Congress could do, and why rule-of-law erosion threatens markets.
86 snips
Feb 26, 2026 • 56min
Adam Smith In The Age of The “Epstein Class” - ft. MP Jesse Norman
Jesse Norman, British MP and Adam Smith biographer, offers a compact take on Smith’s distrust of concentrated power. He discusses how insider access, collusion, and elite networks can short-circuit competition. The conversation explores whether high-society scandals signal systemic cronyism, how institutions earn legitimacy, and why markets need accountability to work.
113 snips
Feb 19, 2026 • 49min
How Inequality Distorts the Law - ft. Katharina Pistor
Katharina Pistor, Columbia Law School professor who studies how law creates and organizes capital. She explains capital as a legal coding of assets. Short takes cover how lawyers enclosed value, why corporations act like private governments, proposals for fairness in private law, limits on contracts in housing, and rethinking limited liability and corporate portability.
38 snips
Feb 5, 2026 • 57min
Are Betting Apps Engineered for Addiction? - ft. Jonathan Cohen
Jonathan Cohen, policy lead and author of Losing Big who studies the social costs of legalized sports betting. He discusses how rapid online rollout, app design, and data-driven targeting amplify harm. Short takes cover micro-bets and VIP tactics, links to bankruptcies and neglect, mobile normalization, and proposals like app speed bumps and fiduciary duties for data holders.
88 snips
Jan 22, 2026 • 42min
Can We Build a Middle Class Without Factories? - ft. Dani Rodrik
Dani Rodrik, Ford Foundation Professor at Harvard, discusses the shifting economic landscape where traditional manufacturing no longer supports a stable middle class. He emphasizes the need to elevate service sector jobs, which are often undervalued, in order to maintain social cohesion. Rodrik highlights how new technologies can boost productivity in services while warning against platform monopolies that could harm workers. He proposes practical policies to enhance job quality and suggests that meaningful work is crucial for democracy and human dignity.
65 snips
Jan 15, 2026 • 53min
Who Should The Fed Answer To? - ft. Sir Paul Tucker
Sir Paul Tucker, former Deputy Governor of the Bank of England, dives deep into central bank independence and its implications for democracy. He challenges the Fed's self-governance, arguing it has detached from Congress and created an accountability gap, especially highlighted by the SVB collapse. Tucker critiques the notion of monetary policy as 'latent taxation' and calls for clearer congressional mandates. He also questions the complacency of markets amid potential financial instability, suggesting that the power dynamics may be skewing perceptions of risk. A thought-provoking discussion on the balance of power and accountability!
99 snips
Jan 6, 2026 • 55min
How To Fix The American Tax System - ft. Ray Madoff
Ray Madoff, a tax law scholar and author, dives into America's complex tax system. She challenges the popular narrative that the top 1% carry the tax burden, revealing how the ultra-wealthy evade taxes through loopholes and trusts. Madoff critiques the ineffectiveness of the estate tax and discusses how philanthropy often serves as a tax avoidance tactic. Highlighting the urgent need for reform, she proposes taxing inheritances and investment gains directly. Madoff's insights push us to rethink fairness in taxation and wealth distribution.
45 snips
Dec 18, 2025 • 53min
How Capitalism Became Global ft. Sven Beckert
Sven Beckert, a Harvard historian and expert on capitalism, breaks down the complexities of capitalism's definition and history. He argues that capitalism isn't just about markets, but rather a specific logic of privately owned capital. Beckert challenges the idea that capitalism opposes the state, showing their historical interdependence. He explores capitalism's adaptability across political systems, its role in the Industrial Revolution, and the dynamics of wealth concentration versus social mobility. He emphasizes the need for democratic reforms to shape capitalism's direction and benefits.
