Uber: A Goldmine for Economists to Study Consumer Behavior and Market Dynamics: Economist Steve Levitt uses Uber's vast ride data to study consumer behavior and market dynamics, revealing insights into the shape and nature of demand curves and the benefits of a well-functioning market.
Uber, with its vast database of ride information, offers economists like Steve Levitt an unprecedented opportunity to study consumer behavior and market dynamics. According to Dubner, Levitt sees Uber as the embodiment of a well-functioning market, where prices adjust based on supply and demand. Moreover, Levitt has used Uber data to finally answer a long-standing question about economics: the shape and nature of the demand curve. This data-driven approach is a testament to how technology is transforming economics and providing new insights into the hidden side of everything.
Economists have never seen a real-world demand curve: Despite the lack of physical observation, economists understand the concept of demand curves and use them to analyze economic transactions.
While demand curves are a fundamental concept in economics, they are an artificial construct used to help analyze economic transactions. The speakers in the discussion acknowledged that they had never actually seen a real-world demand curve, leading them to include an empty box in their textbook in the hopes of eventually finding one. This revelation might raise questions about the validity of economic conclusions if the foundational concept of demand curves is based on theory rather than observation. However, the speakers emphasized that they fully understand what demand curves represent, but the desire to physically experience one drove their pursuit to find a real-world example. The comparison was drawn to the scientific discovery of subatomic particles, where theories existed before they could be observed, but their existence was later confirmed. The speakers' admission of not having seen a demand curve does not negate their conclusions but adds a layer of intrigue to the learning process.
Uber and economist Steven Levitt's research on consumer behavior and economics using Uber's data: Uber's partnership with Steven Levitt resulted in groundbreaking research on consumer surplus, revealing how market systems benefit consumers by saving them money and providing more value than anticipated.
The collaboration between Uber and economist Steven Levitt on research using Uber's data provides valuable insights into consumer behavior and economics, specifically the concept of consumer surplus. The potential conflict of interest when a private firm works with academic researchers using their own data is addressed, with the Uber-Levitt partnership serving as an example of transparency and academic independence. The research, which includes the analysis of 54 million user sessions, led to the discovery of a demand curve and the measurement of consumer surplus, a concept introduced by 19th century economist Jules Dupuy. Consumer surplus represents the additional joy, utility, or willingness to pay that a consumer derives from purchasing a good at a given price. Understanding consumer surplus is essential in economics as it highlights the efficiency and benefits of market systems, allowing consumers to save money and gain more value than they initially anticipated.
Measuring Consumer Surplus with Uber's Surge Pricing: Uber's surge pricing provides economists a unique opportunity to observe and measure consumer surplus in real-time by observing the difference between what consumers pay and what they're willing to pay during times of high demand.
The modern economy allows us to access essential goods like water and food at much cheaper prices than we'd be willing to pay, a concept known as consumer surplus. However, measuring consumer surplus is challenging as it requires knowing what consumers were willing to pay before they encountered the actual price. Economists have attempted to measure consumer surplus by creating parallel universes with different prices for the same good, but this method is impractical. Uber, with its surge pricing, offers a solution to this problem by allowing economists to observe the difference between what consumers pay and what they're willing to pay during times of high demand. This information can provide valuable insights into consumer behavior and overall consumer surplus.
Uber's surge pricing provides insights into consumer behavior and demand curves: Uber's strategic rounding of surge prices creates natural experiments for economists to study consumer response to price changes on a massive scale
Uber uses surge pricing to estimate demand and consumers respond differently to these price variations. This data provides economists with valuable insights into consumer behavior and demand curves. Uber's algorithm predicts surge prices but rounds them up or down for customers, creating small discontinuities that lead to different prices for seemingly identical consumers. These price differences, though seemingly insignificant, provide natural experiments for economists to study consumer behavior in response to price changes on a massive scale. The rounding up or down of surge prices is a strategic tool used by Uber to create these discontinuities and gain a better understanding of consumer demand.
Understanding Demand with Regression Discontinuity Analysis: Regression discontinuity analysis reveals consumer behavior at price discontinuities, incentivizing suppliers and benefiting consumers, with Uber's surge pricing creating $7 billion in consumer surplus.
Regression discontinuity analysis provides a unique and accurate representation of a demand curve in the real world by examining consumer behavior at small price discontinuities. Economists view price spikes during times of high demand as necessary for efficient market allocation, as they incentivize suppliers to increase production and prevent shortages. Uber's surge pricing is an example of this concept in action, as it encourages more drivers to be on the road during periods of high demand, ultimately benefiting consumers. The overall consumer surplus created by Uber was found to be almost $7 billion. Despite this success, economist Steve Levitt remains dissatisfied, always seeking new insights and challenges.
Uber Study Reveals $7 Billion Consumer Surplus in US in 2015: The study found that consumers received an average of $1.50 worth of additional joy or utility for every dollar spent on Uber, resulting in a total consumer surplus of $7 billion in the US in 2015.
A study conducted by economist Steve Levitt and his colleagues using data from Uber found that consumers received significantly more value from the ride-sharing service than they paid for, amounting to approximately $7 billion in consumer surplus in the US in 2015. This means that for every dollar spent on Uber, consumers received an average of $1.50 worth of additional joy or utility. The consumer surplus was much larger than the amounts kept by Uber and the driver partners. This research highlights the significant benefits consumers receive from ride-sharing services and could influence policy discussions by shifting the focus from potential negative impacts on specific industries or groups to the overall consumer benefits.
Impact of Uber on Traditional Taxi Industries: Uber's introduction led to losses for medallion owners and taxi companies but gave taxi drivers the flexibility to become Uber drivers and choose their hours. Uber is also working towards eliminating human drivers, with complex economic implications for stakeholders.
The introduction of ride-sharing services like Uber has disrupted traditional taxi industries and their regulatory monopolies, leading to significant losses for medallion owners and taxi companies. However, taxi drivers have not been negatively impacted as they have always had the option to become Uber drivers if they have their own cars. The new market dynamics have encouraged more flexible work arrangements for Uber drivers, offering them the freedom to choose their hours. Despite this, Uber is also working towards eliminating human drivers altogether. The economic implications of these disruptions are complex, with both losses and gains for different stakeholders. Overall, it's a reminder of the dynamic nature of market economies and the ongoing impact of technology on labor markets.
Impact of Autonomous Vehicles on Transportation and Productivity: Autonomous vehicles by Uber could lead to reduced transportation costs, shift from car ownership to ride-sharing, and new productivity opportunities, but predicting consumer demand and job impacts pose challenges for public policy decisions.
The development of autonomous vehicles by companies like Uber is expected to significantly reduce the cost of transportation and unlock new opportunities for productivity. This could lead to a shift away from car ownership towards ride-sharing services. However, there are larger conversations to be had about the impact of technology on jobs and the difficulty of predicting consumer demand. Economists have estimated a demand curve for Uber, but the desired long-term demand curve is more elusive, making public policy decisions challenging. The estimated demand curve for Uber shows inelastic demand, meaning consumers are not very sensitive to price changes. Despite these complexities, the potential benefits of autonomous vehicles are exciting and worth exploring further.
Consumer Surplus from Uber and Pokemon Go: Uber and Pokemon Go create large consumer surpluses, but Uber's financial losses from subsidizing drivers may impact prices and reduce surplus, while the Libertarian Party faces challenges in being seen as electable.
The consumer surplus created by companies like Uber and Pokemon Go is enormous due to consumers' willingness to pay high prices for services they value greatly. However, Uber's significant financial losses from subsidizing drivers may force the company to raise prices, potentially reducing consumer surplus. Meanwhile, the Libertarian Party, which Gary Johnson represents, faces challenges in being seen as electable and dealing with the perception of being "freaky." Economist Steve Levitt's research on consumer surplus from Pokemon Go illustrates the significant benefits people receive from engaging in activities they enjoy, even if it means taking risks or forgoing wages. Ultimately, understanding consumer surplus is crucial for businesses and policymakers to make informed decisions.
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258. Why Uber Is an Economist’s Dream
Recent Episodes from Freakonomics Radio
603. Did the N.F.L. Solve Diversity Hiring? (Part 1)
The biggest sports league in history had a problem: While most of its players were Black, almost none of its head coaches were. So the N.F.L. launched a hiring policy called the Rooney Rule. In the first episode of a two-part series, we look at how the rule succeeded — until it failed.
- SOURCES:
- N. Jeremi Duru, professor of law at American University.
- Herm Edwards, former N.F.L. player and head coach.
- Jim Rooney, author and co-partner of Rooney Consulting.
- RESOURCES:
- A Different Way to Win: Dan Rooney's Story from the Super Bowl to the Rooney Rule, by Jim Rooney (2019).
- "For ASU's Herm Edwards, Sports Bubble Helped to Overcome Racism Growing Up," by Jeff Metcalfe (The Arizona Republic, 2018).
- Advancing the Ball: Race, Reformation, and the Quest for Equal Coaching Opportunity in the NFL, by N. Jeremi Duru (2010).
- "Differences in the Success of NFL Coaches by Race, 1990-2002: Evidence of Last Hire, First Fire," by Janice Madden (Journal of Sports Economics, 2004).
- EXTRAS:
- "When Is a Superstar Just Another Employee?" by Freakonomics Radio (2023).
- "How Much Does Discrimination Hurt the Economy? (Replay)," by Freakonomics Radio (2023).
EXTRA: In Praise of Maintenance (Update)
We revisit an episode from 2016 that asks: Has our culture’s obsession with innovation led us to neglect the fact that things also need to be taken care of?
- SOURCES:
- Martin Casado, general partner at Andreessen Horowitz.
- Ruth Schwartz Cowan, professor emerita of history and sociology of science at University of Pennsylvania.
- Edward Glaeser, professor of economics at Harvard University.
- Chris Lacinak, founder and president of AVPreserve.
- Andrew Russell, provost of SUNY Polytechnic Institute.
- Lawrence Summers, professor and president emeritus of Harvard University; former Secretary of the Treasury and former director of the National Economic Council.
- Lee Vinsel, professor of science, technology, and society at Virginia Tech.
- RESOURCES:
- “Hail the Maintainers," by Andrew Russell and Lee Vinsel (Aeon, 2016).
- “A Lesson on Infrastructure From the Anderson Bridge Fiasco,” by Lawrence Summers and Rachel Lipson (The Boston Globe, 2016).
- Triumph of the City: How Our Greatest Invention Makes Us Richer, Smarter, Greener, Healthier, and Happier, by Edward Glaeser (2008).
- More Work for Mother: The Ironies of Household Technology from the Open Hearth to the Microwave, by Ruth Schwartz Cowan (1983).
- EXTRAS:
- "Freakonomics Radio Takes to the Skies," series by Freakonomics Radio (2023).
- "Edward Glaeser Explains Why Some Cities Thrive While Others Fade Away," by People I (Mostly) Admire (2021).
- "Why Larry Summers Is the Economist Everyone Hates to Love," by Freakonomics Radio (2017).
602. Is Screen Time as Poisonous as We Think?
Young people have been reporting a sharp rise in anxiety and depression. This maps neatly onto the global rise of the smartphone. Some researchers are convinced that one is causing the other. But how strong is the evidence?
- SOURCES:
- David Blanchflower, professor of economics at Dartmouth College.
- Lauren Oyler, novelist and cultural critic.
- Andrew Przybylski, professor of human behavior and technology at the University of Oxford.
- RESOURCES:
- "The Declining Mental Health Of The Young And The Global Disappearance Of The Hump Shape In Age In Unhappiness," by David G. Blanchflower, Alex Bryson, and Xiaowei Xu (NBER Working Paper, 2024).
- "Further Evidence on the Global Decline in the Mental Health of the Young," by David G. Blanchflower, Alex Bryson, Anthony Lepinteur, and Alan Piper (NBER Working Paper, 2024).
- No Judgment: Essays, by Lauren Oyler (2024).
- "To What Extent are Trends in Teen Mental Health Driven by Changes in Reporting?" by Adriana Corredor-Waldron and Janet Currie (Journal of Human Resources, 2024).
- The Anxious Generation: How the Great Rewiring of Childhood Is Causing an Epidemic of Mental Illness, by Jonathan Haidt (2024).
- "Global Well-Being and Mental Health in the Internet Age," by Matti Vuorre and Andrew K. Przybylski (Clinical Psychological Science, 2023).
- "Are Mental Health Awareness Efforts Contributing to the Rise in Reported Mental Health Problems? A Call to Test the Prevalence Inflation Hypothesis," by Lucy Foulkes and Jack L. Andrews (New Ideas in Psychology, 2023).
- "The Association Between Adolescent Well-Being and Digital Technology Use," by Amy Orben and Andrew K. Przybylski (Nature Human Behaviour, 2019).
- iGen: Why Today's Super-Connected Kids Are Growing Up Less Rebellious, More Tolerant, Less Happy — and Completely Unprepared for Adulthood — and What That Means for the Rest of Us, by Jean M. Twenge (2017).
- EXTRAS:
- "Are You Caught in a Social Media Trap?" by Freakonomics Radio (2024).
- "Are We Getting Lonelier?" by No Stupid Questions (2023).
- "Is Facebook Bad for Your Mental Health?" by Freakonomics, M.D. (2022).
- "Why Is U.S. Media So Negative? (Replay)," by Freakonomics Radio (2022).
601. Multitasking Doesn’t Work. So Why Do We Keep Trying?
Only a tiny number of “supertaskers” are capable of doing two things at once. The rest of us are just making ourselves miserable, and less productive. How can we put the — hang on a second, I've just got to get this.
Come see Stephen Dubner live!
“A Questionable Evening: A strategic interrogation from two people who ask questions for a living,” featuring Stephen Dubner and PJ Vogt from Search Engine.
Thursday, Sept. 26th, at the Bell House in Brooklyn, NY.
https://www.eventbrite.com/e/a-questionable-evening-evening-with-stephen-dubner-and-pj-vogt-tickets-1002544747327
- SOURCES:
- Olivia Grace, senior product manager at Slack.
- Gloria Mark, professor of computer science at the University of California, Irvine.
- David Strayer, professor of cognition and neural science at the University of Utah.
- RESOURCES:
- "Immersion in Nature Enhances Neural Indices of Executive Attention," by Amy S. McDonnell and David L. Strayer (Nature: Scientific Reports, 2024).
- "Contribution to the Study on the ‘Right to Disconnect’ From Work. Are France and Spain Examples for Other Countries and E.U. Law?" by Loïc Lerouge and Francisco Trujillo Pons (European Labour Law Journal, 2022).
- "Task Errors by Emergency Physicians Are Associated With Interruptions, Multitasking, Fatigue and Working Memory Capacity: A Prospective, Direct Observation Study," by Johanna I. Westbrook, Magdalena Z. Raban, Scott R. Walter, and Heather Douglas (BMJ Quality & Safety, 2018).
- "Supertaskers: Profiles in Extraordinary Multitasking Ability," by Jason M. Watson and David L. Strayer (Psychonomic Bulletin & Review, 2010).
- "The Effects of Video Game Playing on Attention, Memory, and Executive Control," by Walter R. Boot, Arthur F. Kramer, Daniel J. Simons, Monica Fabiani, and Gabriele Gratton (Acta Psychologica, 2008).
- "'Constant, Constant, Multi-Tasking Craziness': Managing Multiple Working Spheres," by Victor M. González and Gloria Mark (Proceedings of the 2004 Conference on Human Factors in Computing Systems, CHI, 2004).
- EXTRAS:
- "Why Is the U.S. So Good at Killing Pedestrians?" by Freakonomics Radio (2023).
- "Why Did You Marry That Person?" by Freakonomics Radio (2022).
- "How Much Should We Be Able to Customize Our World?" by No Stupid Questions (2021).
What Is the Future of College — and Does It Have Room for Men? (Update)
Educators and economists tell us all the reasons college enrollment has been dropping, especially for men, and how to stop the bleeding. (Part 3 of our series from 2022, “Freakonomics Radio Goes Back to School.”)
- SOURCES:
- Zachary Bleemer, assistant professor of economics at Princeton University and faculty research fellow at the National Bureau of Economic Research.
- D'Wayne Edwards, founder and President of Pensole Lewis College.
- Catharine Hill, former president of Vassar College; trustee at Yale University; and managing director at Ithaka S+R.
- Pano Kanelos, founding president of the University of Austin.
- Amalia Miller, professor of economics at the University of Virginia.
- Donald Ruff, president and C.E.O. of the Eagle Academy Foundation.
- Morton Schapiro, professor of economics and former president of Northwestern University.
- Ruth Simmons, former president of Smith College, Brown University, and Prairie View A&M University.
- Miguel Urquiola, professor of economics at Columbia University.
- RESOURCES:
- "What Gay Men’s Stunning Success Might Teach Us About the Academic Gender Gap," by Joel Mittleman (The Washington Post, 2022).
- "We Can't Wait for Universities to Fix Themselves. So We're Starting a New One," by Pano Kanelos (Common Sense, 2021).
- "Academic Freedom in Crisis: Punishment, Political Discrimination, and Self-Censorship," by Eric Kaufmann (Center for the Study of Partisanship and Ideology, 2021).
- “A Generation of American Men Give Up on College: ‘I Just Feel Lost’,” by Douglas Belkin (The Wall Street Journal, 2021).
- "Community Colleges and Upward Mobility," by Jack Mountjoy (NBER Working Paper, 2021).
- "Elite Schools and Opting In: Effects of College Selectivity on Career and Family Outcomes," by Suqin Ge, Elliott Isaac, and Amalia Miller (NBER Working Paper, 2019).
- "Leaving Boys Behind: Gender Disparities in High Academic Achievement," by Nicole M. Fortin, Philip Oreopoulos, and Shelley Phipps (NBER Working Paper, 2013).
- EXTRAS:
- "Freakonomics Radio Goes Back to School," series by Freakonomics Radio (2024).
- “'If We’re All in It for Ourselves, Who Are We?'” by Freakonomics Radio (2024).
EXTRA: Why Quitting Is Usually Worth It
Stephen Dubner appears as a guest on Fail Better, a new podcast hosted by David Duchovny. The two of them trade stories about failure, and ponder the lessons that success could never teach.
- SOURCES:
- David Duchovny, actor, director, writer, and musician.
- RESOURCES:
- "Martin Seligman and the Rise of Positive Psychology," by Peter Gibbon (Humanities, 2020).
- "Rick Reilly: ‘Donald Trump Will Cheat You on the Golf Course and Then Buy You Lunch,'" by Donald McRae (The Guardian, 2019).
- "How The X-Files Invented Modern Television," by Emily St. James (Vox, 2018).
- "Happiness & the Gorilla," by Scott Galloway (No Mercy/No Malice, 2018).
- EXTRAS:
- Fail Better with David Duchovny, podcast by Lemonada Media (2024).
- "How to Succeed at Failing," series by Freakonomics Radio (2023).
- "Annie Duke Thinks You Should Quit," by People I (Mostly) Admire (2022).
- "The Upside of Quitting," by Freakonomics Radio (2011).
The University of Impossible-to-Get-Into (Update)
America’s top colleges are facing record demand. So why don’t they increase supply? (Part 2 of our series from 2022, “Freakonomics Radio Goes Back to School.”)
- SOURCES:
- Peter Blair, professor of education at Harvard University and faculty research fellow at the National Bureau of Economic Research.
- Zachary Bleemer, assistant professor of economics at Princeton University and faculty research fellow at the National Bureau of Economic Research.
- Amalia Miller, professor of economics at the University of Virginia.
- Morton Schapiro, professor of economics and former president of Northwestern University.
- Miguel Urquiola, professor of economics at Columbia University.
- RESOURCES:
- “Elite Schools and Opting In: Effects of College Selectivity on Career and Family Outcomes,” by Suqin Ge, Elliott Isaac, and Amalia Miller (Journal of Labor Economics, 2022).
- “Why Don’t Elite Colleges Expand Supply?” by Peter Q. Blair & Kent Smetters (NBER Working Paper, 2021).
- “Lori Loughlin Pleads Guilty via Zoom in College Admissions Case,” by Kate Taylor (The New York Times, 2020).
- Markets, Minds, and Money: Why America Leads the World in University Research, by Miguel Urquiola (2020).
- “To Cheat and Lie in L.A.: How the College-Admissions Scandal Ensnared the Richest Families in Southern California,” by Evgenia Peretz (Vanity Fair, 2019).
- The Case Against Education: Why the Education System Is a Waste of Time and Money, by Bryan Caplan (2018).
- “The World Might Be Better Off Without College for Everyone,” by Bryan Caplan (The Atlantic, 2018).
- “Are Tenure Track Professors Better Teachers?” by David N. Figlio, Morton O. Schapiro, and Kevin B. Soter (NBER Working Paper, 2013).
- “Estimating the Payoff to Attending a More Selective College: An Application of Selection on Observables and Unobservables,” by Stacy Berg Dale and Alan Krueger (NBER Working Paper, 1999).
- "Report on the University’s Role in Political and Social Action," by the Kalven Committee (1967).
- EXTRAS:
- "What Exactly Is College For? (Update)," by Freakonomics Radio (2024).
What Exactly Is College For? (Update)
We think of them as intellectual enclaves and the surest route to a better life. But U.S. colleges also operate like firms, trying to differentiate their products to win market share and prestige points. In the first episode of a special series originally published in 2022, we ask what our chaotic system gets right — and wrong. (Part 1 of “Freakonomics Radio Goes Back to School.”)
- SOURCES:
- Peter Blair, faculty research Fellow of the National Bureau of Economic Research and professor of education at Harvard University.
- Catharine Hill, former president of Vassar College; trustee at Yale University; and managing director at Ithaka S+R.
- Morton Schapiro, professor of economics and former president of Northwestern University.
- Ruth Simmons, former president of Smith College, Brown University, and Prairie View A&M University.
- Miguel Urquiola, professor of economics at Columbia University.
- RESOURCES:
- "Progressivity of Pricing at U.S. Public Universities," by Emily E. Cook and Sarah Turner (NBER Working Paper, 2022).
- "Community Colleges and Upward Mobility," by Jack Mountjoy (NBER Working Paper, 2021).
- "How HBCUs Can Accelerate Black Economic Mobility," (McKinsey & Company, 2021).
- Markets, Minds, and Money: Why America Leads the World in University Research, by Miguel Urquiola (2021).
- "Mobility Report Cards: The Role of Colleges in Intergenerational Mobility," by Raj Chetty, John N. Friedman, Emmanuel Saez, Nicholas Turner, and Danny Yagan (NBER Working Paper, 2017).
- EXTRAS:
- "'If We’re All in It for Ourselves, Who Are We?'" by Freakonomics Radio (2024).
- "'A Low Moment in Higher Education,'" by Freakonomics Radio (2024).
- "The $1.5 Trillion Question: How to Fix Student-Loan Debt?" by Freakonomics Radio (2019).
- "Why Larry Summers Is the Economist Everyone Hates to Love," by Freakonomics Radio (2017).
EXTRA: Here’s Why You’re Not an Elite Athlete (Update)
There are a lot of factors that go into greatness, many of which are not obvious. As the Olympics come to a close, we revisit a 2018 episode in which top athletes from a variety of sports tell us how they made it, and what they sacrificed.
- SOURCES:
- Lance Armstrong, former professional cyclist.
- David Canton, director of African American studies and professor of history at the University of Florida.
- David Epstein, science journalist and author.
- Domonique Foxworth, former professional football player.
- Justin Humphries, former professional baseball player.
- Andre Ingram, professional basketball player.
- Shawn Johnson, former professional gymnast and Olympian.
- Steve Levitt, professor of economics at the University of Chicago.
- Simone Manuel, professional swimmer and Olympian.
- Brandon McCarthy, former professional baseball player.
- Mike McGlinchey, offensive tackle for the Denver Broncos.
- Daryl Morey, president of basketball operations of the Philadelphia 76ers.
- Lauren Murphy, professional mixed martial artist.
- Kim Ng, advisor with Athletes Unlimited Pro Softball, former general manager of the Miami Marlins.
- JJ Redick, head coach for the Los Angeles Lakers.
- Mikaela Shiffrin, professional alpine ski racer and Olympian.
- Mark Teixeira, former professional baseball player.
- Sudhir Venkatesh, professor of sociology at Columbia University.
- Kerri Walsh-Jennings, professional beach volleyball player and Olympian.
- RESOURCES:
- "Compromising Talent: Issues in Identifying and Selecting Talent in Sport," by Joseph Baker, Jörg Schorer, and Nick Wattie (Quest, 2017).
- "Practice and Play in the Development of German Top-Level Professional Football Players," by Manuel Hornig, Friedhelm Aust, and Arne Güllich (European Journal of Sport Science, 2016).
- The Sports Gene, by David Epstein (2013).
- "The Effect of Deliberate Play on Tactical Performance in Basketball," by Pablo Greco, Daniel Memmert, and Juan Carlos Pérez Morales (Perceptual and Motor Skills, 2010).
- EXTRAS:
- "The Hidden Side of Sports," series by Freakonomics Radio (2018).
- “How to Become Great at Just About Anything” Freakonomics Radio (2016).
600. “If We’re All in It for Ourselves, Who Are We?”
Tania Tetlow, a former federal prosecutor and now the president of Fordham University, thinks the modern campus could use a dose of old-fashioned values.
- SOURCE:
- Tania Tetlow, president of Fordham University.
- RESOURCES:
- "Not a Priest, Not a Man, but Ready to Run Fordham," by David Waldstein (The New York Times, 2024).
- "Tech Glitch Upends Financial Aid for About a Million Students," by Oyin Adedoyin and Melissa Korn (The Wall Street Journal, 2024).
- "Where Protesters on U.S. Campuses Have Been Arrested or Detained," by The New York Times (The New York Times, 2024).
- "15 Arrested as NYPD Clears Protester Encampment at Fordham's Lincoln Center Campus," (NBC News, 2024).
- "Inside the Week That Shook Columbia University," by Nicholas Fandos and Sharon Otterman (The New York Times, 2024).
- "Address of his Holiness Pope Francis to the Members of the Blanquerna — Universitat Ramón Llull Foundation, Barcelona," by Pope Francis (The Holy See Press Office Bulletin, 2024).
- "Why Don’t Elite Colleges Expand Supply?" by Peter Q. Blair and Kent Smetters (NBER Working Paper, 2021).
- EXTRAS:
- "Freakonomics Radio Goes Back to School," series by Freakonomics Radio (2022).
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Episode 85: Are We Living Madison’s Nightmare?
Worries about mob rule have been around longer than our Constitution. Indeed, James Madison wrote about the problems of “factions” in what we’ve come to call the Federalist Papers. We like to think that our three branches of government with their checks and balances are impervious to the evils of faction. But today we may be living Madison’s nightmare. Join Antony Davies and James Harrigan as they discuss this and more on this week’s episode of Words and Numbers.
Show Notes
What it feels like to be Jeff Bezos
Foolishness of the Week
Outlawing sitting and lying down
Topic of the Week: Political factions and mob rule
Madison’s warning about mob rule
Federal debt as a fraction of GDP (1790 to 2050)
Join the conversation
Episode 53: Has Uber Become Part of the System It Fought Against?
Regulatory capture is a problem in this country. It happens pretty easily. Politicians can't be experts in everything, so they turn to actual experts for help with regulating various industries. The experts tend to be those who have already enjoy some measure of success in their field. The regulatory suggestions that these experts give politicians tend to make life easier for the already-established experts and harder for those competing with them. This kind of thing happens all too often and leads to gross regulatory overreach, such as Uber working to ban private ownership of self-driving cars. How do we prevent this or, at the very least, strike it down after the fact? Join James Harrigan, Antony Davies, and special guest Robert McNamara from the Institute for Justice as they discuss this and more on this week's episode of Words and Numbers.
Quick hits
http://triblive.com/news/education/career/13275149-74/carlow-university-launches-micro-masters-program
https://micromasters.mit.edu/
https://www.edx.org/micromasters
Foolishness of the week
http://reason.com/blog/2018/02/08/jeff-sessions-advice-to-pain-patients-ta
Topic of the week: Occupational licensing and regulatory capture
http://ij.org/staff/robert-mcnamara/
https://cei.org/blog/uber-wants-make-it-illegal-operate-your-own-self-driving-car-cities
https://repository.law.umich.edu/cgi/viewcontent.cgi?article=2720&context=articles
SQUAWK BOX, TUESDAY 26TH MARCH, 2019
Squawk Box anchors discuss Apple’s unveiling of its new TV streaming, credit card and gaming services. Meanwhile, UK MPs vote to seize control of the Brexit agenda, allowing them to vote on alternatives to Prime Minister Theresa May’s withdrawal deal. We have detailed analysis from Westminster. Chinese market losses continue amid signs of a global slowdown but Standard Chartered CEO Bill Winters exclusively tells CNBC that recession fears are unfounded. Also, Uber is poised to swoop for Dubai ride-hailing service Careem in a multi-billion dollar deal.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
SQUAWK BOX, FRIDAY 7TH AUGUST, 2020
Asian indices slump into the red after President Trump signs an executive order banning U.S. companies from working with Chinese apps TikTok and WeChat. Trump has branded both mobile applications as a “threat” to U.S. national security and economy. Mixed Chinese trade data for July sees exports rising by 7 per cent, but imports fall by 1.4 per cent due to depressed demand. Uber’s Q2 revenues fall by almost a third as the ride-sharing app’s pivot to delivery services fails to offset a dearth in passengers during global lockdowns. And we hear from BoE governor Andrew Bailey who tells CNBC that negative rates are “in the toolbox” but that the central bank had no immediate plans of implementing them. He also denied accusations the BOE was too optimistic about the speed of the recovery following the Covid-19 pandemic.
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