Logo
    Search

    The "Winner Take All" problem

    en-usMay 14, 2024

    Podcast Summary

    • The root of workplace inequality lies in a winner-take-all approach to business.Women are often relegated to lower-paying jobs and face a glass ceiling, while men dominate higher-paying positions, hurting both women and the economy. A more equitable distribution of wealth and opportunities is needed for a just economy.

      Despite the progress women have made in education and breaking into various fields, the push towards workplace equality has been stalled for years. June Carbone and her co-authors, Naomi Khan and Nancy Lovett, were initially focused on telling a story of women's march towards equality, but were surprised to find that the numbers told a different story. They discovered that the root of the problem lies in a winner-take-all approach to business. Women are often relegated to lower-paying jobs and face a glass ceiling, while men continue to dominate the higher-paying positions. This issue is not only detrimental to women but also to the economy as a whole. The authors argue that a more equitable distribution of wealth and opportunities is necessary for a just economy. This insight comes from the book "Fair Shake, Women and the Fight to Build a Just Economy."

    • Considering the neighborhood while house huntingThe importance of researching neighborhoods, beyond just the home, when house hunting is emphasized by Homes.com's detailed neighborhood guides. The gender pay gap remains a significant issue, with women earning less than men in most industries and education levels, particularly in tech and engineering.

      When house hunting, it's essential to consider the neighborhood as much as the home itself. Homes.com provides detailed neighborhood guides for each listing, offering insights into the number of homes for sale, local amenities, and other relevant information. Meanwhile, the gender pay gap persists, with women earning less than men in most industries and education levels. The disparity is particularly noticeable among highly educated women in fields like tech and engineering, where representation and pay remain stagnant. The authors of "Fair Shake" attribute this trend to factors beyond conventional explanations. In the realm of blue-collar jobs, the wage gap has narrowed, but this is largely due to declining wages for men, not an increase in women's wages. Overall, women's progress in terms of pay and representation in various jobs has stalled since the 1990s.

    • Business culture shift towards winner take all approachThe winner take all approach in business culture disadvantages women by allowing those in power to allocate disproportionate resources, sometimes through unethical or illegal means, leading to gender inequality.

      The stalling progress for women in the workforce can't be fully explained by traditional factors like old-fashioned sexism or women's prioritization of family over career. Instead, the authors point to a systemic shift in business culture towards a "winner take all" approach, which places women at a disadvantage. In this system, those in power can allocate disproportionate resources to themselves, regardless of the success or failure of their company. Companies that adopt this approach prioritize winning at all costs, sometimes resorting to ethically questionable or illegal practices. An example of this is Jack Welch's GE in the 1980s, which increased earnings and share price significantly by firing bottom-performing employees and cooking the books. Despite the legal consequences, other companies followed suit, with examples including Wells Fargo and Uber. This winner take all approach perpetuates gender inequality in the workplace.

    • Winner-take-all culture disadvantages womenSince the 1980s, a competitive business culture has disadvantaged women by rewarding competition over cooperation, leading to toxic work environments and harsher consequences for misconduct.

      The winner-take-all culture in business, which rewards competition over cooperation, has become more prevalent since the 1980s. This culture, as described by June, can disadvantage women in several ways. First, if women don't compete on the same terms as men, they risk falling behind. Second, if they do compete, they may face harsher consequences for misconduct, making it a losing proposition for them. This phenomenon, referred to as masculinity contest cultures, can lead to toxic work environments characterized by sexual harassment, bullying, and favoritism. June argues that this culture is a relatively recent development, with business practices in the 1950s and 1960s being more socially minded and emphasizing cooperation and collective decision making. However, with deregulation and the rise of a winner-take-all business ethos, these practices have given way to a cutthroat business culture that rewards those who thrive in competitive environments, often at the expense of others, particularly women.

    • Winner Takes All Culture and Hostile Work Environment for WomenCompanies with a 'winner takes all' culture can lead to a hostile work environment for women, pushing them out and perpetuating sexism. Solutions include speaking out against abusive behavior, increasing gender diversity, government investment in child care and paid family leave, and stronger regulation of misbehaving companies.

      Companies with a "winner takes all" culture can lead to a hostile work environment that pushes women out, perpetuating sexism and driving them to leave. June and her co-authors propose solutions such as speaking out against abusive behavior, increasing gender diversity, government investment in child care and paid family leave, and stronger regulation of misbehaving companies. At its core, this issue reflects a societal divide between those who prioritize personal dominance and individual success over community values. In a separate matter, rap artists Drake and Kendrick Lamar have been exchanging accusations, raising questions about what constitutes art and criminal behavior, and who gets hurt the most. This episode was produced by Cooper Katz McKim, engineered by James Willets and fact-checked by Sierra Juarez, with editing by Keegan Kent. For businesses, The Hartford offers specialized insurance coverage backed by data and innovative thinking. Visit thehartford.com for more information. Saatva luxury mattresses offer high-end quality at half the price, sold online. Visit visitsaatva.com/npr and save an additional $200.

    Recent Episodes from The Indicator from Planet Money

    Indicators of the Week: Debate Edition

    Indicators of the Week: Debate Edition
    Indicators of the Week is BACK! This week we're doing something just a little bit different. You see, it's the same 'ol Indicators of the Week you're used to, but as a nod to last night's presidential debate, this time, it's debate style.

    On today's episode, your candidates argue over who has the best Indicator of the Week: the links discovered between health care prices and layoffs, stress-tested banks, and ... cow burps?

    Related Episodes:
    Time to make banks more stressed?
    The Cows Are Taking All The Land

    For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

    Music by
    Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

    Learn more about sponsor message choices: podcastchoices.com/adchoices

    NPR Privacy Policy

    Do polluters pay, or do they get paid?

    Do polluters pay, or do they get paid?
    For years, rich nations have sent money to lower-income countries to help deal with the impacts of climate change. But it turns out, these wealthy nations are finding creative ways to funnel some of that financing back into their own economies. Today, we look at how the climate crisis is reviving a debate over how money should flow from rich to less-rich nations.

    Related episodes:
    A countdown to climate action (Apple / Spotify)
    Gambling, literally, on climate change (Apple / Spotify)
    Blue bonds: A market solution to the climate crisis? (Apple / Spotify)
    Why a debt tsunami is coming for the global economy (Apple / Spotify)

    For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

    Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.



    Learn more about sponsor message choices: podcastchoices.com/adchoices

    NPR Privacy Policy

    What's going to happen to the Trump tax cuts?

    What's going to happen to the Trump tax cuts?
    The last major overhaul of the tax code was in 2017, when Republicans passed the Tax Cuts and Jobs Act. Much of that is set to expire next year, and that means a big debate over tax policy is looming.

    Voters this fall won't just be voting for a president—they'll essentially decide who pays for the government and how much for years to come.

    Today on the show, we explain the battle lines forming in this tax code throwdown.

    Related Episodes:
    The Good, The Bad and The Tax Cuts
    Happy Birthday, Tax Cuts!

    For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

    Learn more about sponsor message choices: podcastchoices.com/adchoices

    NPR Privacy Policy

    Tracking the underground bike theft economy

    Tracking the underground bike theft economy
    A few years ago, bike enthusiast Bryan Hance got a tip. A whole bunch of expensive bikes that were stolen in the Bay Area had suddenly turned up ... for sale on a Facebook page in Mexico. The revelation started Bryan down a years-long investigation where he would uncover an intricate, large-scale criminal operation out of Jalisco, Mexico.

    In today's episode, we talk to freelance reporter Christopher Solomon who wrote about Hance's journey in WIRED Magazine.

    Related episodes:
    Is retail theft getting worse? (Apple / Spotify)
    The economics of stealing bikes

    For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

    Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.


    Learn more about sponsor message choices: podcastchoices.com/adchoices

    NPR Privacy Policy

    The tower of NVIDIA

    The tower of NVIDIA
    For a moment last week, semiconductor chip designer NVIDIA eclipsed Microsoft to become the world's most valuable company. How did it get there?

    Today on the show, David Rosenthal, one half of the tech podcast Acquired, explains how NVIDIA's founder Jensen Huang laid the groundwork for the company's meteoric rise, and why there may be obstacles ahead.

    Related episodes:
    The life and death spirals of social media networks (Apple / Spotify)
    The semiconductor founding father

    For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

    Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.


    Learn more about sponsor message choices: podcastchoices.com/adchoices

    NPR Privacy Policy

    Boeing's woes, Bilt jilts, and the Indicator's stock rally

    Boeing's woes, Bilt jilts, and the Indicator's stock rally
    Indicators of the Week are back! We are here, as always, to bring you the most fascinating snapshots from the week of economic news.

    On today's show, we're digging into the embattled aerospace company, Boeing. We look at how paying your rent with a Wells Fargo credit card is costing the bank millions of dollars a month. And we learn how much richer the Planet Money coffers are after we invested in the funds that track stock trading by congresspeople and their families on both sides of the aisle.

    Related Episodes:
    Invest like a Congress member
    Help Wanted at Boeing

    ICYMI, preorder our new Indicator t-shirt at the NPR shop. For more ways to support our show, sign up for Planet Money+ where you'll get sponsor-free listening, bonus episodes, and access to even more Indicator merch.

    For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at
    plus.npr.org. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

    Learn more about sponsor message choices: podcastchoices.com/adchoices

    NPR Privacy Policy

    A captive market: The high price of prison phone calls

    A captive market: The high price of prison phone calls
    When Diane Lewis' son, Jovaan, was sentenced to prison, she told him to call her every day. What he didn't know at the time is that those collect calls often meant Diane was unable to pay her other bills. Today on the show, how prison phone calls got so expensive, and the movement to make them free.

    Related listening:
    The Uncounted Workforce
    From Prison to the Workforce
    The Prisoner's Solution

    For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

    Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.


    Learn more about sponsor message choices: podcastchoices.com/adchoices

    NPR Privacy Policy

    Invest like a Congress member

    Invest like a Congress member
    There are some new funds that track stock trading by members of Congress and their family. So we thought, why don't we get in on that? Today on the show, we crack open the Planet Money Investment Jar to learn more about how our political leaders play the market, investing in funds tracking Democratic and Republican stock trades.

    Whether Congressional stock trading should be limited is a hotly debated matter. So to test whether lawmakers are beating the market, Dartmouth College economist Bruce Sacerdote and his co-authors pitted lawmakers' stock picks against reindeer at a Christmas-styled theme park.

    Trust us for this ride! It'll all make sense with some intriguing results.

    Related listening:
    Stock traders are trying to beat the market — by copying lawmakers
    WTF is a Bitcoin ETF? (Apple / Spotify)
    Planet Money's Toxic Asset
    Planet Money Summer School: Investing

    For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

    Music by

    Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

    Learn more about sponsor message choices: podcastchoices.com/adchoices

    NPR Privacy Policy

    Spud spat

    Spud spat
    The federal government classifies potatoes (whether they be baked, waffled, curly, fried) as a vegetable.

    Recently some nutritional scientists were questioning that logic as the feds updated their dietary guidelines for 2025.

    On today's episode, why potatoes have such sway on Capitol Hill and the real financial stakes spuds have in staying a veggie.

    For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

    Music by
    Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

    Learn more about sponsor message choices: podcastchoices.com/adchoices

    NPR Privacy Policy

    Oil gluts, Russian bucks, and Starbucks

    Oil gluts, Russian bucks, and Starbucks
    Indicators of the Week is back! This week, we've got indicators about oil gluts, big bucks for Ukraine and fewer bucks at Starbucks. (Apologies for the slurping.)

    Related episodes:
    How to get Russia to pay Ukraine
    An oil boom, a property slump and dental deflation

    ICYMI, preorder our new Indicator t-shirt at the NPR shop. For more ways to support our show, sign up for Planet Money+ where you'll get sponsor-free listening, bonus episodes, and access to even more Indicator merch.

    For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at
    plus.npr.org.

    Music by
    Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

    Learn more about sponsor message choices: podcastchoices.com/adchoices

    NPR Privacy Policy