Mary Childs, formerly of Planet Money, has a new podcast, called Mary in America.
I was the guest on her first interview:
Organs, Sex Work, and Drugs: A Nobel Economist on Why Banning Things Can Backfire, Mary in America
"A Nobel Prize-winning economist makes the case that our moral objections to controversial markets are getting people killed.
Alvin Roth won the Nobel Prize in Economics for figuring out how to build markets that work. Now he's turned his attention to the markets we refuse to build, and why that refusal has consequences nobody wants to talk about.
In this episode, Mary and Al dig into what he calls "repugnant transactions" — the deals that some people want to make and others think shouldn't be allowed. They get into why banning organ sales creates black markets where donors get operated on in apartments, why the same logic that ended Prohibition applies to the war on drugs, how surrogacy bans in Europe are turning babies into stateless people, and why it's easy to buy heroin but nearly impossible to hire a hit man.
Al's argument isn't that everything should be for sale. It's that if you care about outcomes more than intentions, you have to confront what your bans are actually doing.
Subscribe for new episodes every week.
Chapters:
00:00 Friendship Isn't A Market
00:32 Meet Nobel Economist Al Roth
01:02 What Makes a Market "Repugnant"?
02:58 Should We Pay People for Kidneys?
08:31 Why Drugs Thrive But Hit Men Don't
15:58 Surrogacy, Politics, and Unintended Consequences
21:45 Why Prohibition Keeps Failing
25:19 Markets, Morality, and Reality
28:19 The Rise of Prediction Markets
34:30 What Money Can't Buy"
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