Farewell to Freakonomics
On this episode of The Time of Monsters, Marshall Steinbaum on economics as a toxic discipline.
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Farewell to Freakonomics | Time of Monsters with Jeet Heer
On this episode of The Time of Monsters, Marshall Steinbaum on economics as a toxic discipline.
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Steven D. Levitt, best known for cowriting the best-selling 2005 book Freakonomics, is retiring from the University of Chicago with a bang. On the Capitalism and Freedom podcast, Levitt gave a farewell interview where he detailed many internecine feuds in the discipline and examples of toxic abuse, with particular focus on his long-time colleague and nemesis James Heckman.
The economist Marshall Steinbaum, a University of Chicago graduate who now teaches at the University of Utah, returns to The Time of Monsters to elucidate not just the Levitt/Heckman spat but also the question of why economics is a notoriously toxic discipline, how economics has changed over the decade,s rendering both Levitt and Heckman anachronistic, and the recent backlash against anti-racist politics in the discipline.
To supplement the article, listeners can read: Noah Scheiber’s 2007 article on the intellectual origins of Freakonomics, Marshall Steinbaum’s 2020 post about racism in the University of Chicago economic department, and a recent Bloomberg story on racism and sexism in economics.
The Nation Podcasts
Here's where to find podcasts from The Nation. Political talk without the boring parts, featuring the writers, activists and artists who shape the news, from a progressive perspective.
Elon Musk and Silicon Valley Drug Culture | The Time of Monsters with Jeet Heer
Both The New York Times and The Wall Street Journal have reported that Elon Musk, currently trying to mend a feud with his quondam political ally Donald Trump, is a heavy user of mind alternating substances ranging from Ketamine to LSD to mushrooms to cocaine. While this story has been treated as one about the foibles of one increasingly erratic powerful man, it has wider implications. The financial journalist Jacob Silverman, author of an upcoming book about Musk, notes that there is a wider drug culture in Silicon Valley, rooted in the supposed performative enhancing power of drugs as well as an ideological commitment to elitism, accelerationism and technological transcendence. I took up these matters in a recent column and Jacob helps flesh out this story.
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