The Economics of Everyday Things - podcast cover

The Economics of Everyday Things

Freakonomics Network & Zachary Crockettfreakonomics.com
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.

Episodes

66. Stradivarius Violins

Why are these 300-year-old instruments still coveted by violinists today? And how do working musicians get their hands on multimillion-dollar antiques? Zachary Crockett is not fiddling around. SOURCES: Frank Almond , professional violinist. Ziv Arazi , co-owner of Rare Violins of New York. Bruno Price , co-owner of Rare Violins of New York. RESOURCES: " When It Comes to String Instruments, Stradivariuses Are Still Pitch Perfect ," by Ted Scheinman ( Smithsonian Magazine, 2022). " Study Confirms ...

Oct 14, 202420 minEp. 66

Card Counting (Replay)

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 Profitabilit...

Oct 07, 202419 minEp. 30

65. Stock Photos

Making money in the stock image business requires a sharp eye for trends, a very specific type of model, and a race against A.I. Zachary Crockett takes his shot. SOURCE: Yuri Arcurs , C.E.O. and founder of PeopleImages. RESOURCES : " The Last Stock Photographers Await Their Fate Under Generative A.I. ," by Katie Deighton ( The Wall Street Journal, 2024). " The Impressive 100-Year History of Stock Photography: From Analog to A.I. ," by Ivanna Attié ( Stock Photo Secrets, 2024). " How Much Can You...

Sep 30, 202423 minEp. 65

64. Sushi Fish

How does a fresh tuna get from Japan to Nebraska before it goes bad? And how does its journey show up in the price of your spicy tuna rolls? Zachary Crockett gets schooled. SOURCES: Sasha Issenberg , journalist and author. David Utterback , owner of Yoshitomo and Ota sushi restaurants. Nobu Yamanashi , president of Yama Seafood. RESOURCES: " Wild or Farmed? Pacific or Atlantic? Here’s What to Know About Bluefin Tuna ," by Jean Trinh ( Los Angeles Times, 2023). " The Untold Story of Sushi in Amer...

Sep 23, 202422 minEp. 64

63. Botox

Why do millions of people pay to have one of the world’s deadliest toxins injected into their faces? Zachary Crockett looks surprised. SOURCES: Dana Berkowitz , sociologist and author. Jean Carruthers , pioneer of cosmetic Botox, clinical professor of ophthalmology at the University of British Columbia, and owner of Carruthers Cosmetic. Steven Williams , president of the American Society of Plastic Surgeons and owner of Tri Valley Plastic Surgery. RESOURCES: " Botox Is More Affordable Than Ever....

Sep 16, 202417 minEp. 63

62. Title Insurance

Almost everyone who buys a home spends thousands of dollars on title insurance. Most of them don’t understand it, and almost none of them use it. So why does it exist? Zachary Crockett closes the deal. SOURCES: Christy Bieber , personal finance writer. Laurie Goodman , institute fellow at the Urban Institute Housing Finance Policy Center. Kathy Kwak , chief operating officer of Proper Title. RESOURCES: " Remarks of President Joe Biden — State of the Union Address As Prepared for Delivery ," (The...

Sep 09, 202415 minEp. 62

Truffles (Replay)

It takes fungi-sniffing dogs, back-room deals, and a guy named “The Kingpin” for the world’s most coveted morsel to end up on your plate. Zachary Crockett picks up the scent. SOURCES: Jason McKinney , co-founder and C.E.O. of Truffle Shuffle. Besart Morina, truffle dealer. RESOURCES: " Dogs Pay the Price in Italian Truffle War ," by Margherita Stancati ( The Wall Street Journal, 2022). " How Truffles Took Root Around the World ," by Federico Kukso ( Smithsonian Magazine, 2022). " Has the America...

Sep 02, 202418 minEp. 17

61. Pigeons

Once considered noble and heroic, pigeons are now viewed as an urban nuisance — one that costs cities millions of dollars a year. Zachary Crockett tosses some crumbs. SOURCES: Andrew Blechman , journalist and author. David Champagne , owner of Bird Busters, Inc. RESOURCES: " Racing Pigeon Sells For A Record-Breaking $1.9 Million At Auction ," by Carlie Porterfield ( Forbes, 2020). " Feathers of Honor: U.S. Army Signal Corps Pigeon Service in World War I, 1917–1918 ," by Frank A. Blazich Jr. ( Ar...

Aug 26, 202420 minEp. 61

60. Money Laundering

How do criminals turn their ill-gotten gains into taxable income? And how does law enforcement stop them? Zachary Crockett follows the money. SOURCES: Patrick McKenzie , fraud prevention expert and strategic advisor at Stripe. Kerry Myers , associate professor of instruction at the University of South Florida and former F.B.I. special agent. RESOURCES: " National Assessments of Money Laundering Risks: Stumbling at the Start ," by Joras Ferwerda and Peter Reuter ( Risk Analysis, 2024). " Hacker '...

Aug 19, 202421 minEp. 60

59. Restaurant Reservations

Thanks to online booking platforms, the way we make reservations has changed — but a table at a hot restaurant on a Friday night is still a valuable commodity. Zachary Crockett books a four-top for 7 p.m. SOURCES: Lisa Blount , director of marketing and public relations at Antoine’s Restaurant. Adam Iscoe , writer. RESOURCES: " Why You Can’t Get a Restaurant Reservation ," by Adam Iscoe ( The New Yorker, 2024). " New York Passes Bill to Make the Restaurant Reservation Black Market Illegal ," by ...

Aug 12, 202419 minEp. 59

58. Firefighters

There are more firefighters than ever — and fewer fires for them to fight. So the job has changed. Zachary Crockett slides down the pole. SOURCES: Joshua Hurwitz , lecturer in economics at Tufts University. Eric Mackintosh , administrative battalion fire chief for San Mateo Consolidated Fire Department. Steve Pegram , retired fire chief and township administrator in Ohio. RESOURCES: " The Dire Shortage of Volunteer Firefighters in the US ," by Sam Becker ( BBC, 2024). San Mateo Consolidated Fire...

Aug 05, 202422 minEp. 58

Romance Novels (Replay)

How did love stories about vampires, cowboys, and wealthy dukes become the highest-grossing fiction genre in the world? Zachary Crockett gets swept away. SOURCES: Delaney Diamond , romance novelist. Danielle Flores, high school math teacher and avid romance novel reader. Brenda Hiatt , romance novelist. Diane Moggy , vice president of editorial at Harlequin. RESOURCES: " Even as Overall Book Sales Are Declining, Romance Novels Are on the Rise ," by Elena Burnett, Sarah Handel, and Juana Summers ...

Jul 29, 202419 minEp. 27

57. Strippers

Performing at a strip club can be lucrative, but it requires financial and psychological savvy — and an eye for social trends. Zachary Crockett takes a look. SOURCES: Layla , stripper. Dave Manack , publisher and editor-in-chief of Exotic Dancer. RESOURCES: " A Look at Washington State’s ‘Strippers’ Bill of Rights’ ," by Aimee Ortiz ( The New York Times, 2024). " These L.A. Strippers Won a Union. But the Dance Isn’t Over ," by Suhauna Hussain ( Los Angeles Times, 2023). " Dancers at Northwest Po...

Jul 22, 202419 minEp. 57

56. Snake Venom

Why does treating a venomous snake bite cost as much as a house? Zachary Crockett slithers over to North Carolina to find out. SOURCES: Steve Anderson , emergency medicine business unit leader at BTG Pharmaceuticals. Nick Brandehoff , professor of emergency medicine at the University of Colorado and executive director of the Asclepius Snakebite Foundation. Sean Bush , emergency physician and president of the North American Society of Toxinology. Nitin Deshpande , business consultant with Premium...

Jul 15, 202422 minEp. 56

55. Direct-to-Consumer Mattresses

Online companies promised to bring transparency to the mattress-buying experience. Did that work out? Zachary Crockett takes a look under the sheets. SOURCES: Derek Hales , founder and editor-in-chief of NapLab.com. Joe Megibow , C.E.O. of Casper Sleep. RESOURCES: " Drake Has a $400,000 Bed − We Asked Why and Where You Can Buy It ," by Emilia Hitching ( Homes & Gardens, 2024). " Casper Tests a New Store Design as It Rethinks Its Retail Strategy ," by Anna Hensel ( Modern Retail, 2024). " Is The ...

Jul 08, 202421 minEp. 55

54. Ghostwriters

Channeling the voices of celebrities can be a lucrative career — one that requires empathy and discretion as well as literary chops. Zachary Crockett checks the acknowledgements. SOURCES: Valerie Frankel , ghostwriter. Madeleine Morel , President and Lead Agent of 2M Communications. Daniel Paisner , ghostwriter. RESOURCES: " Ghostwriting History: Churchill, Kennedy and the Authenticity of Authorship ," by Andrew Mumford ( The International History Review, 2024). " Column: How many ways can a pol...

Jul 01, 202420 minEp. 54

53. Food Trucks

How did mobile kitchens become popular with hipster gourmands? And just how much money can a popular truck make from a lunch shift? Zachary Crocket drops some napkins. SOURCES: Mariel-Leona Edwards , senior operations manager for Señor Sisig. Matthew Geller , founding president of the National Food Truck Association and C.E.O. of the Southern California Mobile Food Vendors Association. Evan Kidera , C.E.O. and co-owner of Señor Sisig. RESOURCES: " Seed Planted in SF State MBA Program Grows Into ...

Jun 24, 202419 minEp. 53

52. Little League

Youth baseball — long a widely accessible American pastime — has become overrun by $10,000-per-year, for-profit travel leagues. Zachary Crockett peers inside the dugout. SOURCES: Linda Flanagan , author. Nick Mackenzie, future New York Yankees shortstop. R.J. Mackenzie, physical education teacher and baseball dad. John Miller , journalist and baseball coach. RESOURCES: " The Cost of Youth Baseball Is Getting Absurd ," by Adam Minter ( Bloomberg , 2024). " Perfect Game Sees Prosperity Thanks To N...

Jun 17, 202421 minEp. 52

51. Wine Corks

Why do we use a specific kind of tree-bark tissue to seal up 70 percent of wine bottles? Zachary Crockett takes a sniff and gives the waiter a nod. SOURCES: Carlos De Jesus , director of communications at Amorim Cork. RESOURCES: " This Ancient Material Is Displacing Plastics and Creating a Billion-Dollar Industry ," by Marta Vidal ( The Washington Post, 2024). " Troubled Times For Wine In 2023: Global Production And Consumption Shrinking ," by Per and Britt Karlsson ( Forbes, 2024). " Three Stud...

Jun 10, 202416 minEp. 51

50. Self-Checkout

Grocery stores have turned shoppers into cashiers. Zachary Crockett runs two bags of chips and a Gatorade over the scanner. SOURCES: Sara Alloy , experience retail lead for North America at Publicis Sapient. Christopher Andrews , professor of sociology at Drew University. Phil Lempert , founder and C.E.O. of SupermarketGuru. RESOURCES: " Feeling Rewarded and Entitled to Be Served: Understanding the Influence of Self- Versus Regular Checkout on Customer Loyalty ," by Farhana Nusrat and Yanliu Hua...

Jun 03, 202419 minEp. 50

Carnival Games (Replay)

Does anyone ever win the giant teddy bear? Zachary Crockett steps right up. SOURCES: Matthew Gryczan , retired journalist and engineer. Elliot Simmons, former carnival game worker. Olivia Turner , general manager of Redbone Products. RESOURCES: " AG Platkin Announces 10-Year Ban of Amusement Games Licenses and a Fine for Wildwood Games Operator ," by the New Jersey Office of the Attorney General (2023). " N.H. Man Loses Life Savings on Carnival Game ," ( C.B.S. News Boston, 2013). " Carnival Gam...

May 27, 202417 minEp. 13

49. Weather Forecasts

With industries relying on them and profits to be made, weather forecasts are more precise and more popular than ever. But there are clouds on the horizon. Zachary Crockett grabs an umbrella. SOURCES: Steve Adelman , head of Adelman Law Group, PLLC and vice president of the Event Safety Alliance. Peter Neilley , director of weather forecasting sciences and technologies for The Weather Company. RESOURCES: " Traders Have Turned Betting on the Weather, a Technique Pioneered by Enron, Into a Booming...

May 20, 202414 minEp. 49

48. College Fraternities

A fraternity’s budget includes broken windows, liability insurance, chili dog breakfasts, and the occasional $40,000 DJ. Zachary Crockett crashes the party. SOURCES: Anthony Anderson, member of the Sigma Alpha Epsilon fraternity. Danielle Logan , owner of Fraternity Management. Charlie O’Neill, member of the Sigma Alpha Epsilon fraternity. Stephen J. Schmidt , professor of economics at Union College. RESOURCES: " If Student Deaths Won't Stop Fraternity Hazing, What Will? " by Ben Kesslen ( NBC N...

May 13, 202419 minEp. 48

47. Bail Bonds

How does bail work — and who's really paying? Zachary Crockett follows the money. SOURCES: Joshua Page , professor of sociology and law at the University of Minnesota. Steven Zalewski , criminal defense attorney and co-owner of Affordable Bails New York. RESOURCES: " Does Bail Reform Increase Crime in New York State: Evidence from Interrupted Time-Series Analyses and Synthetic Control Methods ," by Sishi Wu and David McDowall ( Justice Quarterly, 2023). " Profit Over People: The Commercial Bail ...

May 06, 202418 minEp. 47

46. Car Colors

So many vehicles on the road today are white, black, or gray — but automotive designers find that consumer preferences may be changing lanes. Zachary Crockett surveys the lot. SOURCES: Tom Crockett, classic car enthusiast. Mark Gutjahr , global head of design at BASF. Nikkie Riedel , carline planning manager at Subaru of America. RESOURCES: BASF Color Report 2023 for Automotive OEM Coatings . " Beige on an S.U.V. Will Cost You, but for Pickups It’s Golden ," by Roy Furchgott ( The New York Times...

Apr 29, 202418 minEp. 46

45. Storage Units

Americans love to buy new stuff and hate to get rid of old stuff, which is why storing it all has become a $45 billion business. Zachary Crockett cleans out the garage. SOURCES: Zachary Dickens , executive vice president and chief investment officer of Extra Space Storage. Anne Mari DeCoster , self-storage consultant. Kara Kolodziej, self-storage unit tenant. RESOURCES: " A Fifth Of Americans Rent Self Storage, With Millennials Overtaking Gen Xers In Generational Storage Wars ," by Francis Chant...

Apr 22, 202416 minEp. 45

44. Movie Sound Effects

The background noises you hear in film and TV — from footsteps to zombie guts — are produced in specialized studios by professionals known as Foley artists. Zachary Crockett makes some noise. SOURCE: Gregg Barbanell , foley artist at Universal Studios. RESOURCES: " The Weird, Analog Delights of Foley Sound Effects ," by Anna Wiener ( The New Yorker, 2022). " The Strangest Foley Sounds in Cinema ," by Amber Gibson ( ACMI, 2021). " The Man Who Makes Hollywood’s Smallest Sounds ," by Zachary Crocke...

Apr 15, 202419 minEp. 44

43. Top-Level Domains

Those letters at the end of web addresses can mean big bucks — and, for some small countries, a substantial part of the national budget. Zachary Crockett follows the links. SOURCES: Vince Cate , technical contact for the .ai domain in Anguilla. Kim Davies , Vice President of Internet Assigned Numbers Authority Services and President of Public Technical Identifiers at ICANN. Tianyu Fang , contributing editor at Reboot. RESOURCES: " The Two-Decade Fight for Two Letters on the Internet ," by Jacob ...

Apr 08, 202419 minEp. 43

42. Cemeteries

The verdant lawns promise everlasting rest — but what does it mean to sign a lease for all eternity? Zachary Crockett finds out where the bodies are buried. SOURCES: Terry Arellano , co-founder and president of Cemetery Property Resales, Inc. Jeff Lindeman , C.E.O. and General Manager of Mountain View Cemetery. Tanya Marsh , professor of law at Wake Forest University. Maureen Walton , founder and president of The Cemetery Exchange. RESOURCES: " Los Angeles Burial Crypt Near Marilyn Monroe, Hugh ...

Apr 01, 202419 minEp. 42

41. Pet Movers

Relocating halfway across the world is hard enough for humans. For pets it can require a specialist. Zachary Crockett waits at the airport, holding a sign saying "Fluffy." SOURCES: Amelia Barklow , owner of two pet ducks, Wobbles and Bean. Mike Gays , managing director of Global Pet Relocation. Gemma Tappin , pet relocation consultant team leader at Global Pet Relocation. RESOURCES: " Service Dogs Are Allowed on Planes, but There Are Some Requirements to Get Them There ," by Zach Wichter ( USA T...

Mar 25, 202416 minEp. 41
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