Capitalism is the engine of prosperity.

Capitalism sows the seeds of its own demise.

 

Could both be right?

Luigi Zingales (University of Chicago) and Kate Waldock (Georgetown) share the sort of irreverent banter you’d hear between economists at a bar, if economists were capable of sarcasm and social enough to go out to bars.

 

Produced by Matthew Hodapp

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There is an ongoing debate about whether private equity adds value or simply extracts value. In the economic literature, benefits are better documented than extraction for a very simple reason: when value is created everybody is willing to share the data to show it. When value is extracted, much less so. On this episode, Kate and Luigi present an often overlooked story of how a private equity fund made millions through connections, lobbying, and a spectrum auction.