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    Business

    The Economics of Everyday Things

    Who decides which snacks are in your office’s vending machine? How much is a suburban elm tree worth, and to whom? How did Girl Scout Cookies become a billion-dollar business? In bite-sized episodes, journalist Zachary Crockett looks at quotidian things and finds amazing stories.

    To get every show in the Freakonomics Radio Network without ads and a monthly bonus episode of Freakonomics Radio, start a free trial for SiriusXM Podcasts+ on Apple Podcasts or by visiting siriusxm.com/podcastsplus.

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    Latest Episodes:
    86. Toothpaste Mar 31, 2025
    Show notes

    We reach for it twice a day — without thinking about the decades of research and engineering that went into that squeezable tube of minty goo. Zachary Crockett extracts the last bit.

    • SOURCES:
      • Stephan Habif, chief technology officer at Colgate-Palmolive.
      • Sergio Leite, global head of Oral Care R&D at Colgate-Palmolive.
      • Peter Miskell, professor of international business history at the University of Reading.
    • EXTRAS:
      • "History of Toothpaste" (Delta Dental of Arkansas, 2019).
      • "Cavity Protection or Cosmetic Perfection? Innovation and Marketing of Toothpaste Brands in the United States and Western Europe, 1955–1985," by Peter Miskell (Business History Review, 2011).
    • RESOURCES:
      • "9,000-Year-Old Dentistry," by WIRED Staff (WIRED, 2006).

    Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.


    85. Executive Recruiters Mar 24, 2025
    Show notes

    When a Fortune 500 company needs a new leader, it turns to a well-connected headhunter who assesses candidates with psychological tests and mock TV interviews. Zachary Crockett activates his network.

    • SOURCES:
      • Julian Ha, partner at the executive recruiting firm Heidrick & Struggles.
      • Jane Stevenson, global vice chair of board and CEO services at Korn Ferry.
    • RESOURCES:
      • "The Transformation of the CEO," by Stephen Langton, Rusty O'Kelley, Laura Sanderson, and Sean Roberts (Russell Reynolds Associates, 2024).
      • "Executive Paywatch" (AFL-CIO, 2023).
      • "Diversity matters even more: The case for holistic impact," by Dame Vivian Hunt, Sundiatu Dixon-Fyle, Celia Huber, María del Mar Martínez Márquez, Sara Prince, and Ashley Thomas (McKinsey & Company, 2023).
      • "CEO Tenure Rates," by Joyce Chen (Harvard Law School Forum on Corporate Governenance, 2023).
      • "Best Industries to Recruit for in the US" (Precision Global Consulting).

    Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.


    84. Mall Cops Mar 17, 2025
    Show notes

    Security guards make malls feel safer, but what can they do when there’s trouble? Zachary Crockett observes and reports.

    • SOURCES:
      • Gus Parsons, mall cop in the San Diego area.
      • David Levenberg, owner of Center Security Services.
    • RESOURCES:
      • "Mall of America's security team will start using facial recognition software as part of safety plan," by Derek James (CBS News, 2024).
      • "The Problems Inside North America’s Largest Security Firm—and Third-Biggest Employer," by Alana Semuels (Time, 2023).
      • "Malls Work on Their Security, but Keep It in the Background," by Ronda Kaysen (New York Times, 2013).
      • Center Security Services.
    • EXTRAS:
      • "NYPD subway robot, Knightscope, gets sacked after two-month pilot program," by Vineet Josan (The Ticker, 2024).
      • "The State of the American Mall," by Sapna Maheshwari (New York Times, 2021).

    Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.


    83. Game Show Winnings Mar 10, 2025
    Show notes

    How do TV producers decide how much money to give away? A little psychology and a lot of math. Zachary Crockett phones a friend.

    • SOURCES:
      • Bowen Kerins, math teacher and former contestant on Who Wants to Be A Millionaire.
      • Arthur Smith, CEO of A. Smith & Co. Productions and author of "Reach: Hard Lessons and Learned Truths from a Lifetime in Television."
      • Aaron Solomon, television producer.
    • RESOURCES:
      • "‘The Price Is Right’ Celebrates 10,000 Episodes With Extra Big Wins for Contestants That Top Off at $100,000!" by Rosemary Rossi (Variety, 2025).
      • "Why haven’t more game show prizes been adjusted for inflation?" by Janet Nguyen (Marketplace, 2023).
      • "Deal or No Deal? Decision Making under Risk in a Large-Payoff Game Show," by Thierry Post, Martijn J. van den Assem, Guido Baltussen, and Richard Thaler (American Economic Review, 2008).
      • "Why Game Shows Have Economists Glued to Their TVs," by Charles Florelle (Wall Street Journal, 2006).
    • EXTRAS:
      • "Bowen Kerins on Who Wants to Be a Millionaire" (2000).

    Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.


    82. Chain Restaurant Recipes Mar 03, 2025
    Show notes

    A fast-food burger has to taste the same — and cost the same — thousands of times a day at restaurants across the country. Zachary Crockett mans the fryer.

    • SOURCES:
      • John Karangis, vice president of culinary innovation at Shake Shack.
      • Walter Zuromski, owner and chief culinary officer of the Chef Services Group.
    • RESOURCES:
      • "How Shake Shack’s New Test Kitchen Is Shaping the Future of the Brand," by Stefanie Tuder (Eater, 2018).
    • EXTRAS:
      • "Truffles," by The Economics of Everyday Things (2023).

    Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.


    Used Golf Balls (Replay) Feb 24, 2025
    Show notes

    American golfers lose 300 million balls a year — and all those bad swings are someone else’s business opportunity. Zachary Crockett hits the links.

    • SOURCES:
      • Todd Hutchinson, president and owner of BallHawker.
      • Lashan Wanigatunga, founder of Two Guys With Balls.
    • RESOURCES:
      • "BallHawker, Challenge Enterprises Turn Wayward Golf Shots Into Successful Endeavor," Natalie Gilstrap (Clay Today, 2023).
      • "Temecula Golf Ball Diver Nets $100,000 a Year," by Jeff Zevely (CBS8, 2022).
      • "Golf’s Recycled Ball Market is Big Business," by Erik Matuszewski (Link, 2021).
      • "The Inside Story of What the Original Titleist Pro V1 Launch Was Really Like," Andrew Tursky (Golf Digest, 2020).
      • "Head of Golf Ball Retrieval Company Sentenced for Manslaughter After Diving Death at Wales Golf Course," by Alex Myers (Golf Digest, 2017).
      • "Man Dies While Illegally Diving for Golf Balls," by Alex Myers (Golf Digest, 2015).
    • EXTRAS:
      • "Greg Norman Takes On the P.G.A. Tour," by People I (Mostly) Admire (2023).

    Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.


    81. Guide Dogs Feb 17, 2025
    Show notes

    Before a guide dog can help a blind person navigate the world, it has to pass a series of tests, then go through $75,000 worth of training. Zachary Crockett sniffs around.

    • SOURCES:
      • Peggy Gibbon, director of canine development at The Seeing Eye.
      • Charles Pat McKenna, assistant division director of the New Jersey Commission for the Blind and Visually Impaired.
    • RESOURCES:
      • "Why Seeing Eye Dogs Are So Expensive To Breed and Train," by Abby Tang and Emily Christian (Business Insider, 2024).
      • "For decades, the blind have used canes to get around. Now a special wristband gives them a ‘sixth sense.'" by Peter Holley (Washington Post, 2017).
      • The Seeing Eye.
      • "History of Guide Dogs," by The International Guide Dog Federation.
      • "Facts and Figures" by The International Guide Dog Federation.
    • EXTRAS:
      • "Morris Frank," by The International Guide Dog Foundation (Vimeo, 2021).

    Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.


    80. Going-Out-of-Business Sales Feb 10, 2025
    Show notes

    Behind that 70% off sign, there’s a liquidation consultant trying to maximize retailer profits. Zachary Crockett seeks a deal.

    • SOURCES:
      • Bradley Snyder, executive managing director at Tiger Group.
      • Zac Rogers, associate professor of supply chain management at Colorado State University
    • RESOURCES:
      • "What Went Wrong: The Demise of Toys R Us," by Angie Basiouny (Knowledge at Wharton, 2018)
      • "Retail apocalypse 2024: All the once-popular stores and restaurants that shuttered locations this year," by Sarah Bregel (Forbes, 2024)
      • "BBB Tip: Avoid bogus bargains at going out of business sales" by Better Business Bureau (2024)
      • "There’s a science and art to running a going-out-of-business sale. (And business is booming.)" by Courtney Reagan (CNBC, 2018)
    • EXTRAS:
      • "I don't wanna grow up: The first day of the end of our childhoods," by Mike Higdon (Reno Gazette-Journal, 2018)

    Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.


    79. School Photos Feb 03, 2025
    Show notes

    Picture day is an annual tradition for American families — and, for the companies that take the photos, a lucrative one. Zachary Crockett smiles for the camera.

    • SOURCES:
      • Ken Murphy, C.E.O. of Lifetouch
      • Jeremy McColm, senior manager of photography at Lifetouch
    • RESOURCES:
      • "The money and stress and failed hairdos of school picture day," by Kaitlyn Tiffany (Vox, 2019)
      • "The School Photo Industry Is a Master Class in Drama," by David Gauvey Herbert (New York Times, 2019)
      • "With Lifetouch Acquisition, Shutterfly Claims Leadership In Picture Memories Market," by Pamela Danziger (Forbes, 2018)
      • "Exclusive School Photography Agreement" (Vernon Public School District, 2019)
    • EXTRAS:
      • "Money Schools Earn From Student Portraits Varies Widely," by Scott MacFarlane, Rick Yarborough, and Jeff Piper (NBC News Washington, 2016)

    Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.


    78. Porta-Potties Jan 27, 2025
    Show notes

    They're not always the nicest places to go — but for their owners, portable toilets are a lucrative revenue stream. Zachary Crockett lifts the lid.

    • SOURCES:
      • Ron Inman, vice president of Honey Bucket
      • Veronica Crosier, executive director of Portable Sanitation Association International
    • RESOURCES:
      • "Providing Toilets for 39,000 Runners," by John Branch (New York Times, 2008)
      • "Platinum Equity-owned United Site Services weighs $4B sale – Reuters," by Pam Rosacia (S&P Global, 2021)
      • "Renting Portable Units," by Portable Sanitation Association International
      • PolyJohn History
    • EXTRAS:
      • "The Porta-Potty King of New York City Faces a Threat to His Throne," by David Gauvey Herbert (Intelligencer, 2019)

    Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.


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