Adam Smith’s Rubbish Bin (TM)
Professors Bill Keep and Nancy Lasher defend the benefits of competitive markets while exposing business behaviors that just might make Adam Smith turnover in his grave. As a reminder, Smith was the 18th century philosopher whose theory of supply and demand gave us the market economy
Episodes
22 episodes
Affordable America Disappeared While Politicians Fiddled
Affordability, or the lack there of, is neither a “hoax” nor a “con job.” In this episode we explore the real factors causing consumer confidence to drop. Affordability is not just about current prices; it is also about future expectations. But...
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27:13
What is the Future for Gen Z?
Bill and Nancy interview two Gen Z graduate students about their decision to go to graduate school, their outlook on jobs and careers, their thoughts on AI, and that for them the American Dream may be unachievable.
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Season 1
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Episode 21
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35:49
The Forever Gilded Age: 150 Years of Corporate Power
For 150 years, American democracy has tried—and repeatedly failed—to rein in corporate power. In this episode, Bill and Nancy trace the original Gilded Age to today’s billionaire class to ask a troubling question: Why does business keep win...
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Season 1
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Episode 20
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30:17
Women and Work: Has the Needle Moved?
Over the past few decades women have played a greater role in the workplace. Their increased involvement has not been without issues, for them and apparently for some men. In this episode I interview Nancy Lasher about her experiences as a prof...
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Season 1
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Episode 19
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27:38
Competition Comes at a Price
In this episode we describe how technology and competition drove dramatic changes in in-home entertainment. Consumers gained access and choices never before available. Now, after the “creative destruction” phase we wonder if the industry will b...
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Season 1
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Episode 18
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29:08
Our Endless Appetite for Empty Calories
In this episode Nancy and Bill explore ultra-processed, supplements, and the marketing messages that sustain them. American foods have been supersized and it shows with 43% of adults classified as obese. What can be done?
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Season 1
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Episode 17
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27:21
Economic Bubble or Economy “Back on Track” (per the White House)?
Recently the White House announced that the economy is “Back on Track.” Yet, numerous economist and even the CEO of JP Morgan Chase say stocks are over-valued, resembling an economic bubble. We examine the data.
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Season 1
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Episode 16
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24:00
Federal Intervention in Business: Industrial Policy or Presidential Ego?
For decades conservative economists have railed against government intervention in business, actions that undercut a laissez-faire philosophy. Where are their complaints now? In this podcast we look at the current and apparently continuing inte...
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Season 1
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Episode 15
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28:08
The Ethics of AI: Who is Making the Rules?
In this episode we have a thought provoking discussion with Isabel Koval. A recent graduate of the University of Cambridge with masters degree in the Ethics of AI, Isabel shares why the AI hype may be overblown. More importantly, she describes ...
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Season 1
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Episode 14
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31:36
The 1,085% Increase in CEO Pay: A Problem of Too Many Zeros
In the episode we explore CEO Pay - misaligned from performance and multiples above CEO pay of comparable non-US companies. From 1978 to 2023, CEO pay increased by 1,085%. During that span of time average worker pay increased 24%. By 2023 the r...
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Season 1
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Episode 13
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29:14
AI, Productivity, and Your Job
In this episode TCNJ and NYU alum Christian Balevski - working at the intersection. of software engineering, innovation and emerging technology in finance - discusses the use and future of AI in the workplace. Christian connects the dots betwee...
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Season 1
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Episode 12
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31:27
Everyone Wants All Of Your Money All Of The Time
Sellers bombard us with messages to buy, buy, buy — and the resulting consumption culture drives America’s economy. Consumer spending makes up about 68% of our GDP, far more than in Germany, Denmark, or Canada. But here’s the catch: the top 10%...
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Season 1
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Episode 11
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25:44
It’s the Economy, Stupid
Some economists and business leaders remain (overly) optimistic about the economy. Here we bring look at diverse sets of data and conclude that consumers do not share that optimism and for good reason.
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Season 1
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Episode 10
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28:12
The Amazon Effect and The Unknown Cost of Convenience
In this episode we explore not just what Amazon has done to alter consumer behavior, which is considerable, but also what it might continue to do moving forward. Adam Smith worried about the ability of sellers to control or influence the market...
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Season 1
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Episode 9
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28:40
Local Government Gives You Your Money’s Worth
In this episode we interview Brian Levine, a three-term mayor of a NJ town and former council member. Brian is a Republican who got elected and re-elected in a town that typically votes overwhelmingly Democrat. Good local government helps make ...
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Season 1
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Episode 8
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41:04
Inflation: Not on the Menu Please!
In this episode we explore the causes of inflation and the potential harm to consumers. We include a look at interest rates, which tend to be used as a tool against inflation.
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Season 1
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Episode 7
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27:54
Trouble With Tariffs
Here we look at the risks and limited reward of broad tariffs, the disfunction of an unclear tariff policy, and the usefulness of selected, shorter-term tariffs.
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Season 1
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Episode 6
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27:54
Private Equity and Public Harm
In this episode we explore an aspect of private equity investments that have raised concerns regarding their impact on prices, employees, and communities.
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Season 1
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Episode 5
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31:03
Crafting a Career: Is Education Overrated
In this episode we explore the changing job outlook and the role of higher education.
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Season 1
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Episode 4
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28:41
Everyday Consumers and the Lost American Dream
In this episode we look at the impact of increasing income and wealth disparities and prices on consumer spending. For example, the top 10% of all US households now accounts for 50% of consumer spending and the average house price ($500K) is no...
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Season 1
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Episode 3
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29:36
Laid Off: Researchers, Innovators, and the Department That Fixes Stuff
This episode digs into the current enthusiasm for government downsizing and disinvestment. Adam Smith, ever the pragmatist, wrote that in addition to providing a defense from external threats and a fair and effective judicial system, the govern...
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Season 1
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Episode 2
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28:11
We're In The Money -- The Growing Importance of Lobbying and Political Giving
We begin by looking at banking as the financial services industry impacts everyone. Then we look at a dominant manufacturer – Boeing. Each of these companies have had years-long legal and ethical problems while spending millions on lobbying and...
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Season 1
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Episode 1
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34:49