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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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    Copyright: © All Rights Reserved

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    Latest Episodes:
    36. ATMs Feb 12, 2024
    Show notes

    Why do you have to pay $4 to get $40 cash at a bar? And who does it go to? Zachary Crockett checks his balance.

    • SOURCES:
      • Bernardo Batiz-Lazo, professor in the Newcastle Business School at Northumbria University.
      • Patricia Tuz, president of New York ATM.
      • Jon Weilbaker, general manager of New York ATM.
      • Sasha Weilbaker, freelance writer and daughter of Patricia and Jon.
    • RESOURCES:
      • "The Number of ATMs Has Declined as People Rely Less on Cash," by Jim Carlton (The Wall Street Journal, 2023).
      • "Survey: ATM Fees Hit Record High While Overdraft and NSF Fees Fell Sharply," by Karen Bennett and Matthew Goldberg (Bankrate, 2023).
      • "More Americans Are Joining the ‘Cashless’ Economy," by Michelle Faverio (Pew Research Center, 2022).
      • "Thieves Target ATMs Flush With Cash During Covid-19," by Scott Calvert (The Wall Street Journal, 2021),
      • "Locational Study of ATMs in the US by Ownership," by Lian An, Christopher Baynard, Chriadip Chatterjee, and Chun-Ping A Loh (2018).
      • "A Brief History of the ATM," by Bernardo Bátiz-Lazo (The Atlantic, 2015).
    • EXTRA:
      • "Why Are We Still Using Cash?" Freakonomics Radio (2016).

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


    35. Dental Insurance Feb 05, 2024
    Show notes

    Why is it separate from medical insurance? And is it really insurance at all? Zachary Crockett goes in for a cleaning.

    • SOURCES:
      • Brad Bolman, postdoctoral member of the School of Historical Studies at the Institute for Advanced Study.
      • Pamela Maragliano-Muniz, prosthodontist and chief editor for Dental Economics.
      • Wendell Potter, president of the Center for Health and Democracy; former executive at Cigna.
    • RESOURCES:
      • "Dental Medical Loss Ratios: Understanding the Landscape in Massachusetts and Beyond," by Shaza Stevenson, Megan D’Alessandro, Sandra Wilkniss, and Nicole Evans (National Academy for State Health Policy Blog, 2023).
      • "Health Insurance Coverage in the United States: 2021," by Katherine Keisler-Starkey and Lisa N. Bunch (U.S. Census Bureau Reports, 2022).
      • "Medicare and Dental Coverage: A Closer Look," by Meredith Freed, Nancy Ochieng, Nolan Sroczynski, Anthony Damico, and Krutika Amin (KFF, 2021).
      • "Dentists’ Group Fights Plan to Cover Dental Benefits Under Medicare," by Julie Bykowicz (The Wall Street Journal, 2021).
      • "Antisocial Dentistry," by Brad Bolman (Hypocrite Reader, 2021).
    • EXTRAS:
      • "'Insurance Is Sexy.' Discuss," by Freakonomics Radio (2023).
      • "Does Health Insurance Make You Healthier?" by Freakonomics, M.D. (2022).

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


    34. Store-Brand Products Jan 29, 2024
    Show notes

    Those low-priced staples on grocery-store shelves — where do they come from? Zachary Crockett finds out at a national convention for private-label manufacturers.

    • SOURCES:
      • Kusum Ailawadi, professor of marketing at the Tuck School of Business at Dartmouth College.
      • Eric Beringause, C.E.O. of Winland Foods.
      • Ryan Boyle, vice president of sales at Kitchen Innovations.
      • Samantha Burd, co-owner of Lady Burd Cosmetics.
      • Dean Erstad, senior vice president of sales at Seneca.
      • Harry Overly, president and C.E.O. of Flagstone Foods.
    • RESOURCES:
      • "The Backlash to Price Hikes Is Building," by Julia Waldow (Modern Retail, 2024).
      • "For U.S. Consumers, It’s a Matter of ‘And’ — Not ‘Or,'" by Kari Alldredge and Warren Teichner (McKinsey & Company, 2023).
      • "Those Doritos Too Expensive? More Stores Offer Their Own Alternatives," by Julie Creswell (The New York Times, 2023).
      • "Why Private Label Brands Are Having Their Moment," by Errol Schweizer (Forbes, 2022).
      • "The Hidden Makers of Costco’s Kirkland Signature and Trader Joe’s O’s," by Nathaniel Meyersohn (CNN Business, 2022).
      • "Pursuing the Value-Conscious Consumer: Store Brands versus National Brand Promotions," by Kusum Ailawadi, Scott A. Neslin, and Karen Gedenk (Journal of Marketing, 2001).
      • "The Effect of Generic Products on Consumer Perceptions and Brand Choice," by John J. Wheatley (NA - Advances in Consumer Research, 1981).
    • EXTRAS:
      • "Should America Be Run by … Trader Joe’s?" by Freakonomics Radio (2018).
      • "How to Save $1 Billion Without Even Trying," by Freakonomics Radio (2014).

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


    33. Sex Scenes Jan 22, 2024
    Show notes

    Behind these steamy sequences, there are body doubles, pubic wigs, legal documents, and dedicated choreographers who make sure everyone is comfortable. Zachary Crockett fast-forwards straight to the good parts.

    • SOURCES:
      • Alicia Rodis, intimacy coordinator.
      • Matthew Swanlund, founder and principal attorney at Aesthetic Legal.
    • RESOURCES:
      • "Romance or Nomance? Adolescents Prefer to See Less Sex, More Friendships, Platonic Relationships on Screen," by Elizabeth Kivowitz (UCLA Newsroom, 2023).
      • "You're Not Seeing Things —'Nudity Creep' in Streaming TV Reveals More of Its Stars," by Neda Ulaby (All Things Considered, 2023).
      • "Jennifer Aniston Rejected Offer for an Intimacy Coordinator in Sex Scenes with 'Gentleman' Jon Hamm," by Esther Kang (People, 2023).
      • "How the Sausage Gets Made: Inside Hollywood's Prosthetic Penis Craze," by Emma Fraser (Thrillist, 2022).
      • "The Disturbing Story Behind the Rape Scene in Bernardo Bertolucci’s Last Tango in Paris, Explained," by Anna North (Vox, 2018).
      • "Two James Francos. Porn. 1970s New York. The Deuce Could Go So Wrong — but It Doesn't," by Emily St. James (Vox, 2017).
      • "Shooting Film and TV Sex Scenes: What Really Goes On," by Melena Ryzik (The New York Times, 2015).
      • "Sexually Explicit Casting Contract for HBO’s ‘Westworld’ Extras Has SAG-AFTRA Concerned," by Jonathan Handel (The Hollywood Reporter, 2015).
    • EXTRAS:
      • "Why is Everyone Having Less Sex?" by No Stupid Questions (2023).

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


    32. Used Golf Balls Jan 15, 2024
    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.


    31. Superhot Chili Peppers Jan 08, 2024
    Show notes

    The market for gustatory pain is surprisingly competitive. Zachary Crockett feels the burn.

    • SOURCES:
      • Ed Currie, founder and president of the PuckerButt Pepper Company.
      • Stephanie Walker, associate professor and Extension Vegetable Specialist at New Mexico State University
    • RESOURCES:
      • "Pepper X Dethrones Carolina Reaper as World’s Hottest Chili Pepper," by Sanj Atwal (Guinness World Records, 2023).
      • "The Shocking, Stupendous Rise of Superhot Chillies: ‘The Stomach Cramps Can Last for 14 Hours,’" by Tim Dowling (The Guardian, 2023).
      • "14-Year-Old Dies After Trying The Paqui ‘One Chip Challenge,’" by Bruce Y. Lee (Forbes, 2023).
      • "Beyond Neuronal Heat Sensing: Diversity of TRPV1 Heat-Capsaicin Receptor-Channel Functions," by Yaroslav M. Shuba (Frontiers in Cellular Neuroscience, 2021).
      • "Training Your Tongue to Love Spicy Food Benefits More Than Your Taste Buds," by Maddie Oatman (Mother Jones, 2019).
      • "Fire-Eaters," by Lauren Collins (The New Yorker, 2013).
      • "The Arms Race to Grow World's Hottest Pepper Goes Nuclear," by Spencer Jakab (The Wall Street Journal, 2013).
    • EXRAS:
      • "Why Do People Love Horror Movies?" by No Stupid Questions (2022).
      • Hot Ones, YouTube talk show.

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


    30. Card Counting Jan 01, 2024
    Show notes

    Casinos think they can stop skilled gamblers from eking out a tiny edge at blackjack. Is that a losing bet? Zachary Crockett doubles down.

    • SOURCES:
      • "Ben," former professional card counter.
      • Bill Zender, co-founder of Bill Zender and Associates casino consulting firm.
    • RESOURCES:
      • "Blackjack Player Sues Ameristar Casino, City of Black Hawk Over Alleged Detainment for Card Counting," by Megan Ulu-Lani Boyanton (The Denver Post, 2023).
      • "Why Does the House Always Win? A Look at Casino Profitability," by J. B. Maverick (Investopedia, 2023).
      • "Counting the Cost," by Bill Zender (GGB News, 2022).
      • "Nevada Supreme Court Orders Casino To Pay Card Counter," by I. Nelson Rose (Gambling and the Law, 2017).
      • "Counting Cards Is Legal, But ..." by Mark Pilarski (Detroit Free Press, 2016).
      • "Card Counter Sues Planet Hollywood Over Detention, Confiscated Casino Chips," by Carri Geer Thevenot (Las Vegas Review-Journal, 2015).
      • "Real People Behind Story of '21' Discuss Film's Facts," by Ed Symkus (The State Journal-Register, 2008).
      • Blackbelt in Blackjack: Playing 21 as a Martial Art, by Arnold Snyder (1997).
    • EXTRAS:
      • "How to Make Your Own Luck," by Freakonomics Radio (2020).
      • "The Economics of Sports Gambling (Replay)," by Freakonomics Radio (2020).
      • "Could the Next Brooklyn Be … Las Vegas?!" by Freakonomics Radio (2015).
      • 21, film by Robert Luketic (2008).

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


    10. Michelin Stars (Replay) Dec 25, 2023
    Show notes

    Only the finest restaurants have a chance to bask in their glow. Sometimes, it’s a bit too bright. Zachary Crockett squints at the menu.

    • SOURCES:
      • Nick Kokonas, founder and co-owner of The Alinea Group.
      • Charlie Mitchell, executive chef and co-owner of Clover Hill restaurant.
    • RESOURCES:
      • "Michelin Announces 2022 Stars for New York City," by Ryan Sutton and Luke Fortney (Eater, 2022).
      • "What’s Wrong With the Michelin Guide?" by Tim Hayward (Financial Times, 2021).
      • "Eating A 6-Course Dinner From The Best Restaurant In The Country," by Number Six With Cheese (2020).
      • "Expert Opinion and Restaurant Pricing: Quantifying the Value of a Michelin Star," by Carly Shin (Stanford Economic Review, 2018).
      • "Here's How Michelin Stars Actually Affect the Restaurant Business," by Hillary Eaton (Food & Wine, 2017).
      • "Three-Star Chef Asks Michelin Guide To Leave Him Out: 'I Will Be Able To Feel Free,'" by Laurel Wamsley (The Two-Way, 2017).
      • "Lunch with M.," by John Colapinto (The New Yorker, 2009).
      • "Alinea," review by the Michelin Guide.
    • EXTRAS:
      • "Why You Shouldn’t Open a Restaurant (Update)," by Freakonomics Radio (2019).

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


    29. Greeting Cards Dec 18, 2023
    Show notes

    The tradition of sending cards to loved ones was in decline — until it was rescued by a new generation. But millennials have their own ideas about what sentiments they want to convey. Zachary Crockett is thinking of you on your special day.

    • SOURCES:
      • Mia Mercado, writer and former editor at Hallmark.
      • George White, president of Up With Paper and former president of the American Greeting Card Association.
    • RESOURCES:
      • 34th Louie Awards - Finalists & Winners, (2022-2023).
      • "Season’s (and Other...) Greetings," by Maria Ricapito (Marie Claire, 2020).
      • "Hallmark Greeting Cards Have Adjusted to the Digital Revolution," by Trent Gillies (CNBC, 2017).
      • "Testimony of Don Hall, Jr. President and CEO of Hallmark Cards, Inc. Before a Joint Hearing of the Senate Subcommittee on Federal Financial Management, Government Information, Federal Services and International Security and the House, Postal Service and the District of Columbia" (2010).

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


    28. Horseshoe Crab Blood Dec 11, 2023
    Show notes

    How does the blood of a 450-million-year-old arthropod help prevent lethal infections in humans? And could we exhaust the supply? Zachary Crockett wades in.

    • SOURCE:
      • Dina Fine Maron, senior wildlife crime investigative reporter at National Geographic.
    • RESOURCES:
      • "When the Horseshoe Crabs Are Gone, We’ll Be in Trouble," by Deborah Cramer (The New York Times, 2023).
      • "Horseshoe Crab Blood Is Vital to Modern Medicine. A New Lab-Made Alternative Could Save the Species," by Kristoffer Whitney, Jolie Crunelle, and The Conversation (Fortune, 2023).
      • "Horseshoe Crab Blood Saves Lives. Can We Protect These Animals From Ourselves?" by Dina Fine Maron (National Geographic, 2022).
      • "For Atlantic Horseshoe Crabs, Love Is a Battlefield," by Dina Fine Maron (National Geographic, 2022).
      • "Horseshoe Crab Blood: The Miracle Vaccine Ingredient That's Saved Millions of Lives," by Katie Pavid (Natural History Museum, 2020).
      • "The Role of Horseshoe Crabs in the Biomedical Industry and Recent Trends Impacting Species Sustainability," by Jordan Krisfalusi-Gannon, Anthony L. Dellinger, et al. (Frontiers in Marine Science, 2018).
      • "Video: Horseshoe Crabs Mate in Annual Beach 'Orgy,'" by Heather Duner MacAdam (National Geographic, 2014).
      • "Crash: A Tale of Two Species," S26.E7 of Nature (2011).
    • EXTRAS:
      • "Baby Blue Blood Drive," by Radiolab (2020).

    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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