Economists are always talking about The Pie – how it grows and shrinks, how it’s sliced, and who gets the biggest shares. Join host Tess Vigeland as she talks with leading economists from the University of Chicago about their cutting-edge research and key events of the day. Hear how the economic pie is at the heart of issues like the aftermath of a global pandemic, jobs, energy policy, and more.


Host and Executive Producer

Tess Vigeland is a veteran journalist who spent more than a decade as an anchor and reporter for public radio’s Marketplace. More…

Inquiries

Please contact BFI’s Senior Director of Communications and Outreach Dave Fettig at fettig@uchicago.edu

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All Episodes
Podcast Nov 26, 2024

Pricing Pollution: Measuring Carbon Externalities for US Corporations

by Tess Vigeland and Lubos Pastor
A company’s value includes not just the goods and services it provides but also the societal costs it imposes. In this episode of The Pie, Lubos Pastor, Charles P. McQuaid Distinguished Service Professor of Finance...
Podcast Nov 12, 2024

Deadly Prescriptions: What Happens When Doctors Compete for Patients

by Tess Vigeland and Molly Schnell
When some US states allowed nurse practitioners to prescribe controlled substances without physician oversight, a serious unintended consequence took hold: Doctors found themselves competing with those nurses for patients. Molly Schnell, BFI Saieh Family Fellow...
Topics: Health care
Podcast Nov 5, 2024

An Extra Slice of the Pie, with James Robinson: History, Politics, and the Road to an Economics Nobel

by Tess Vigeland, Benjamin Krause, and James Robinson
James Robinson, a University Professor with appointments in both UChicago’s Harris School of Public Policy as well as the Political Science Department in the Division of Social Sciences, is the university’s latest faculty member to...
Podcast Oct 29, 2024

Economics Meets Ecology: The Huge Costs of Ecosystem Declines

by Tess Vigeland and Eyal Frank
Bats are considered a natural pesticide. When they began to die out due to an invasive fungus, farmers turned to chemicals to control pests. The result, as Eyal Frank of the Harris School of Public...
Topics: Energy & Environment
Podcast Oct 15, 2024

How Do Buyouts Impact Hospital Performance? Evaluating the Role of Private Equity in Healthcare

by Tess Vigeland and Maggie Shi
Private equity investors made some $200 billion worth of healthcare acquisitions in 2021, and $1 trillion worth in the 10 years leading up to 2023. In this episode of The Pie, Maggie Shi, professor at...
Topics: Health care
Podcast Oct 1, 2024

What Can the North Dakota Railroad War of 1905 Tell Us About Regulating Modern Monopolies?

by Tess Vigeland and Chad Syverson
When the Soo Line threatened to expand into the Great Northern Railway’s territory in 1905, the two companies entered a fierce competition for marketshare in which the they rapidly constructed nearly 500 miles of rail...
Topics: Industrial Organization
Podcast Sep 17, 2024

Understanding the Fed: How Perception Drives Market Reactions

by Tess Vigeland and Carolin Pflueger
The Federal Reserve responded to COVID-era inflation with the fastest increase in the federal funds rate in 40 years. Importantly, the effectiveness of their response depends on how the public perceived it. In this episode...
Podcast Sep 3, 2024

Promises Delivered? The Economic Effects of the 2017 Tax Cuts and Jobs Act

by Tess Vigeland and Eric Zwick
The Tax Cuts and Jobs Act of 2017, a landmark piece of tax legislation from the first year of the Trump administration, overhauled the tax code for both individuals and businesses. In this episode of...
Topics: Tax & Budget
Podcast Aug 20, 2024

Creative Destruction: Why Innovation is Crucial for Growth

by Ufuk Akcigit and Tess Vigeland
The primary contributor to long-run growth is productivity: A country’s ability to raise residents’ standards of living depends on its ability to boost workers’ output. In this episode of The Pie, Ufuk Akcigit, The Arnold...
Podcast Aug 6, 2024

Using Machine Learning to Predict—and Prevent—Police Misconduct

by Tess Vigeland and Greg Stoddard
In the wake of numerous high-profile incidents of police use of force, particularly against Black Americans, law enforcement agencies across the United States are confronting issues of officer misconduct. Whether such misconduct is preventable depends...
Podcast Jul 23, 2024

What Went Wrong With Federal Student Loans?

The United States is in the midst of a student loan crisis, with over 45 million borrowers owing more than $1.6 trillion in federal dollars. On this episode of The Pie, Constantine Yannelis, Associate Professor of Finance...
Topics: Higher Education & Workforce Training
Podcast Jul 9, 2024

The Uncertainties of Climate Change

How can we incentivize the private and public sectors to develop and deploy solutions to climate change, while accounting for uncertainties? This episode of The Pie covers a panel discussion among professors David Keith of...
Topics: Energy & Environment
Podcast Jul 3, 2024

Using Cellphone Data to Observe Religious Worship in the United States

by Tess Vigeland and Devin Pope
Using Cellphone Data to Observe Religious Worship in the United States What do location data from roughly 2.1 million cellphones say about religiosity in the United States? In this episode of The Pie, Devin Pope,...
Topics: Technology & Innovation
Podcast Jun 11, 2024

India’s Economic Future

by Raghuram Rajan and Tess Vigeland
India’s government has big goals for economic growth. The former Governor of the country’s Reserve Bank, Raghuram Rajan, argues that India won’t be able (and shouldn’t try) to follow traditional methods of development. Professor Rajan,...
Podcast May 28, 2024

ChatGPT: Who’s Adopting, Who’s Abstaining, and Why?

by Tess Vigeland and Anders Humlum
A year-and-a-half after its launch, half of workers report having used ChatGPT on the job. On this episode of The Pie, Anders Humlum, Assistant Professor at the Chicago Booth School of Business, shares results from...
Podcast May 14, 2024

Is College Worth It? Measuring the Returns to Higher Education

by Tess Vigeland and Jack Mountjoy
College graduates earn more than those who didn’t attend college. Does this mean higher education boosts your income? Or, does college simply attract students who would’ve earned more anyway? Jack Mountjoy, an economist at the...
Topics: Higher Education & Workforce Training
Podcast Apr 30, 2024

Fighting Traffic in Chicago: Lower Fares, More Trains, Fewer Buses

by Tess Vigeland and Milena Almagro
American cities are overreliant on cars. Policies for reducing this gridlock and pollution range from changing public transit fares or frequencies to introducing new tolls. In this episode of The Pie, Milena Almagro, Assistant Professor...
Topics: Industrial Organization
Podcast Apr 16, 2024

Which Companies Discriminate Most? Experimental Evidence on Callback Rates by Applicant Race and Gender

by Tess Vigeland and Evan K. Rose
A small number of companies are responsible for a substantial amount of the discrimination in today’s labor market. Who are they? In this episode of The Pie, Evan Rose, the Neubauer Family Assistant Professor in...
Topics: Economic Mobility & Poverty, Employment & Wages
Podcast Apr 2, 2024

Recessions: What Are They Good For? Possibly Your Health

by Tess Vigeland and Matthew J. Notowidigdo
When the Great Recession hit in 2007, it produced the largest decline in US employment since the Great Depression. It also substantially reduced mortality. In this episode of The Pie, Matt Notowidigdo discusses how economic...
Podcast Mar 19, 2024

Knowing When to Stop: The Unintended Consequences of Monetary Policy

by Tess Vigeland and Raghuram Rajan
This episode of The Pie features a panel discussion following a talk from Raghuram Rajan, the Katherine Dusak Miller Distinguished Service Professor of Finance at Chicago Booth, about his book “Monetary Policy and Its Unintended...
Topics: Monetary Policy
Podcast Mar 5, 2024

From Authoritarianism to Democracy: The Political Economy of Latin America

by Tess Vigeland and Luis Martínez
Anti-democratic sentiment is on the rise across Latin America. This episode of The Pie explores the evolving political and economic landscape of Latin America, highlighting the region’s experimentation with democratization and the growing threats of...
Topics: Monetary Policy
Podcast Feb 20, 2024

Closing the Achievement Gap: Is There an App for That?

by Tess Vigeland and Ariel Kalil
Children whose parents have college degrees are often more skilled readers than children whose parents didn’t attend college. In this episode of The Pie, Harris Policy Professor Ariel Kalil discusses how certain technologies can help...
Topics: Early Childhood Education, Technology & Innovation
Podcast Feb 6, 2024

Two Economies, Two Years of War: An Update on Economic Conditions in Russia and Ukraine

by Tess Vigeland and Konstantin Sonin
Russian-born economist Konstantin Sonin, Professor at the University of Chicago Harris School of Public Policy, joins The Pie to provide an update on the economic impacts of the ongoing conflict between Russia and Ukraine. Sonin...
Podcast Jan 23, 2024

Conflict-Free or Conflict Displaced? Mine Certifications and Conflict in the Congo

by Tess Vigeland, Hans Christensen, and Samuel Chang
Many mines in the eastern Democratic Republic of the Congo are controlled by armed groups that frequently engage in conflict with nearby civilians. In this episode of The Pie, Hans Christensen, Professor of Accounting in the...
Podcast Jan 9, 2024

Tearing Down Healthcare to Rebuild it for Everyone: A Panel on the Economics of Insurance Reform

by Tess Vigeland, Amy Finklestein, and Michael Greenstone
Most observers are convinced that America’s healthcare system needs reform. This episode of The Pie features a discussion among MIT health economist Amy Finkelstein, former commissioner of the US Food and Drug Administration and current Duke...
Podcast Dec 26, 2023

12 Months of Economics: Vultures, ChatGPT, Student Loans, and the Social Safety Net

by Tess Vigeland, Manasi Deshpande, Michael Dinerstein, Eyal Frank, Maximilian Muhn, and Constantine Yannelis
What happens to humans when vultures go extinct? Why did the student loan pause increase debt? Do government benefits change how parents invest in their kids? To wrap up 2023, Tess Vigeland reviews some of the economic...
Podcast Dec 12, 2023

The Economics of Reproductive Choice

by Tess Vigeland and Yana Gallen
Women who have unplanned births experience earnings losses of up at 25%, while planned births reduce earnings by roughly 15%. Yana Gallen, Assistant Professor at the Harris School of Public Policy, joins The Pie to...
Topics: Employment & Wages
Podcast Nov 28, 2023

Are you Trapped on Social Media?

by Tess Vigeland and Leonardo Bursztyn
Would you rather keep things as is, or, remove yourself and all your friends from social media? You aren’t alone if you chose the latter. Recent research from UChicago economist Leo Bursztyn ushers new survey...
Podcast Nov 14, 2023

The New Normal: Working from Home in 2023

by Tess Vigeland and Steven J. Davis
Roughly a quarter of all paid workdays are now done from home, up from 7% in 2019. How did this shift unfold across different areas, industries, and worker demographics? Steven Davis, Professor Emeritus at Chicago...
Podcast Oct 17, 2023

Restorative Justice: What Happened When Chicago Public Schools Replaced Suspensions with Restitution?

by Tess Vigeland and Anjali Adukia
The rate of school suspensions has more than doubled for Black and Latino children since 1974, inspiring a small but growing movement aimed at finding new disciplinary solutions that deter undesirable behavior without imparting harm....
Podcast Oct 3, 2023

A New Tactic for Police Reform: Using Behavioral Economics to Curb Unnecessary Arrests

by Tess Vigeland, Oeindrila Dube, and Anuj K. Shah
Police use of force has prompted a national debate around misconduct and how to solve what many believe to be a systemic issue. Harris Policy’s Oeindrila Dube and Chicago Booth’s Anuj Shah partnered with the...
Podcast Sep 19, 2023

How Much Would it Cost to Save the Rainforest?

by Tess Vigeland and Lars Peter Hansen
As a massive carbon sink, the Brazilian Amazon plays a crucial role in stabilizing the global climate. It’s also valuable farmland. How do economists measure this tradeoff? Lars Peter Hansen, Nobel Laureate and UChicago economist,...
Topics: Energy & Environment
Podcast Sep 5, 2023

Lessons from Pandemic Unemployment Benefits: When Government Generosity Becomes Necessity

by Tess Vigeland, Peter Ganong, and Joseph S. Vavra
The U.S. government swung into action when the ranks of the pandemic unemployed swelled almost beyond recognition. Three years on, economists are continuing to study the effects of the largest increase in unemployment benefits in...
Topics: Employment & Wages
Podcast Aug 22, 2023

The Hidden Economic Forces That Determine How Much You Earn

by Tess Vigeland and Joshua Gottlieb
How much effect do government policies have on doctors’ wages? And when those wages are high, does it drive inequality in other jobs? And how does Taylor Swift factor in? Or Beyoncé? Joshua D. Gottlieb...
Podcast Aug 8, 2023

A Case for Public School Choice? Lessons from Los Angeles

by Tess Vigeland and Christopher Campos
When the Los Angeles Unified School District combined some neighborhood high schools into Zones of Choice, schools had to compete for students. The result? Achievement gaps narrowed, and more kids reported that they liked school....
Podcast Jul 25, 2023

Do You Even Crypto, Bro?

by Tess Vigeland and Michael Weber
The use of cryptocurrency is on the rise, but who exactly is on the bandwagon? Chicago Booth’s Michael Weber has examined the crypto market – who’s in it, why they believe in it, and what...
Podcast Jul 11, 2023

Social Distancing in 2023: The Economic Costs of Lingering COVID Fears

by Tess Vigeland and Steven J. Davis
Many, if not most, citizens of working age have gone back to their jobs in the three-plus years since the start of the pandemic – but not everybody has. Part of the reason is a...
Podcast Jun 27, 2023

Harvesting Green Investments: The Promise and Perils of ESG

by Tess Vigeland and Lubos Pastor
In the stock market, we all want to do well, but for some investors it’s also important to do good. In this episode, Chicago Booth’s Lubos Pastor joins to discuss his research on sustainable investing...
Podcast Jun 6, 2023

How Debt Relief Raised Debts: The Untold Story of the Student Loan Moratorium

by Tess Vigeland, Michael Dinerstein, and Constantine Yannelis
Did borrowers and the American economy benefit from the federal government’s 2020 student debt moratorium? The picture is complicated according to new research from UChicago Economics’ Michael Dinerstein and Chicago Booth’s Constantine Yannelis. They join...
Podcast May 30, 2023

Quid Pro Vote: The Politics and Economics of Vote-Buying

by Tess Vigeland and Frederico Finan
Vote-buying, or influencing voters’ decisions through favors or gifts, is pervasive in areas such as Latin America, Africa, and Southeast Asia. UC Berkeley’s Frederico Finan, a TC Liu Distinguished Visitor at BFI, discusses his work...
Podcast May 16, 2023

Can ChatGPT Describe Company Performance Better than… the Company?

by Tess Vigeland, Maximilian Muhn, and Alex Kim
The number of ways we can use AI is exploding, and it’s expected to change how entire industries function. Chicago Booth professor Maximilian Muhn and PhD student Alex Kim studied whether ChatGPT can simplify information...
Podcast May 3, 2023

Misperceived Truths: Global Support for Women in the Workplace is More Than You Might Think

by Tess Vigeland and Leonardo Bursztyn
Around the world, people underestimate support for basic women’s rights. In new research, UChicago Economics’ Leonardo Bursztyn documents these misperceptions and shows how they restrict women’s progress. Aligning people’s perceived and actual views, he says,...
Podcast Apr 18, 2023

Inflation: The Good, the Bad, and the Baffling

by Tess Vigeland and Carolin Pflueger
Nobody ever wants to pay more for anything, especially when prices rise drastically – but can inflationary episodes be good for the economy? Harris Policy’s Carolin Pflueger joins The Pie to discuss different types of...
Podcast Apr 4, 2023

Sometimes Bigger IS Better: The Case for Bringing Rural Healthcare to Urban Hospitals

by Tess Vigeland, Jonathan Dingel, and Joshua Gottlieb
When rural patients need care that local medical facilities can’t provide, what’s the best way to ensure they get the care they need? Chicago Booth’s Jonathan Dingel and Harris Policy’s Joshua Gottlieb explore how larger...
Podcast Mar 21, 2023

Social Media Algorithms: How You’re Curating a Biased News Feed

by Tess Vigeland and Sendhil Mullainathan
Social media behaviors, moving at an ever faster pace, may not reflect what users really want, according to new research from economists Sendhil Mullainathan (Chicago Booth) and Amanda Agan (Rutgers University). They join The Pie...
Topics: Technology & Innovation
Podcast Mar 7, 2023

Evaluating US Healthcare 3 Years after Lockdown

by Tess Vigeland and Katherine Baicker
At the third anniversary of COVID-19 lockdowns, this episode takes a look at ongoing healthcare market failures and the pandemic’s role in making them plain. Katherine Baicker, healthcare economist and newly appointed Provost of the...
Podcast Feb 21, 2023

Scavenging for Answers: The Human Toll of Vulture Population Collapse

by Tess Vigeland and Eyal Frank
What can vultures and economics tell us about the cost of losing a keystone species? New research from environmental economist Eyal Frank of the Harris School of Public Policy explores the social and economic cost...
Podcast Feb 7, 2023

Law of Unintended Consequences: Welfare Reform and Crime

by Tess Vigeland and Manasi Deshpande
When policymakers passed a historic welfare reform law in 1996, they likely did not anticipate what would happen when youth with disabilities turned 18 and lost their support. We talk with UChicago economist Manasi Deshpande...
Topics: Fiscal Studies
Podcast Jan 24, 2023

Economics of Discrimination: How to Measure Systemic Injustices

by Tess Vigeland and Alex Imas
How can discrimination by race, gender, or other factors be measured – especially when its causes may be systemic in nature? Chicago Booth’s Alex Imas studies behavioral science and economics, and is conducting research that...
Podcast Jan 10, 2023

What Drives Racial Differences in Speeding Tickets and Fines?

by Tess Vigeland, John List, and Justin Holz
New research finds minorities are 24-33% more likely to be stopped for speeding and will pay 23-34% more in fines, relative to a white driver traveling the exact same speed. UChicago economists John List and...
Podcast Dec 27, 2022

2023: An Economic Nudge for the New Year

by Tess Vigeland, Richard Thaler, and Cass Sunstein
Can ‘nudges’ improve your New Year’s resolutions? Today we’re looking back at one of our most popular episodes. Host Tess Vigeland sat down with Nobel laureate Richard Thaler in 2021 to discuss new material from...
Podcast Dec 13, 2022

China Faltering? Why the End of Zero Covid Won’t Fix Its Economic Problems

by Tess Vigeland and Chang-Tai Hsieh
How will China’s economy respond after the lifting of ‘Zero Covid’ policy? UChicago economist Chang-Tai Hsieh joins The Pie to discuss the surprising party response to political protests, emerging dynamics affecting the Chinese economy today,...
Podcast Nov 30, 2022

Economic Warfare: Are Russian Sanctions Working?

by Tess Vigeland and Konstantin Sonin
Ten months into a devastating war, the Russian and Ukrainian economies are struggling yet resilient. Russian-born economist Konstantin Sonin joins The Pie to provide an update on the economic impacts of the ongoing conflict, including...
Podcast Nov 15, 2022

Fighting Inflation: Is the Fed’s Work Just Beginning?

by Tess Vigeland and Anil Kashyap
The Federal Reserve’s latest 75 basis point rate hike brought interest rates up again on everything from mortgages to car loans and credit cards. Will it be enough to halt inflation? How is the Fed...
Podcast Nov 1, 2022

Tax vs Ban: The Unexpected Results on Gun Sales

by Tess Vigeland and Brad Shapiro
In this episode, we’re talking about guns. Chicago Booth economist Brad Shapiro has quantified—for the first time—American consumer demand for guns, and how that demand shifts in response to different regulations, including bans and taxes....
Podcast Oct 18, 2022

COVID and Schools: Elementary Lessons

by Tess Vigeland and Rachel Glennerster
Did closing schools during the COVID-19 pandemic serve students and society at-large? As part of a World Bank Advisory Panel, University of Chicago economist Rachel Glennerster is taking a closer look at the long-term economic...
Podcast Oct 4, 2022

WFH… Gone Global

by Tess Vigeland and Steven J. Davis
The remote work revolution is now more than two years old, and it’s a worldwide phenomenon, at least in wealthier countries. Chicago Booth economist Steven Davis has been studying the staying power of work from...
Podcast Sep 26, 2022

We’re Back with More of The Pie

by Tess Vigeland
Last season, we were at the height of the COVID-19 crisis, affecting every aspect of our lives and the economy. This season, we’re back looking at the aftermath of the global pandemic and beyond —...
Podcast Mar 30, 2022

How Does Access to Safe Water Affect Child Mortality?

A new meta-analysis by Michael Kremer and co-authors suggests water treatment could reduce child mortality by about 30% in low- and middle-income countries, making it a highly cost-effective treatment for saving lives. Kremer joined his...
Topics: Development Economics
Podcast Dec 2, 2021

Global Warming, Local Impact: The Economic Landscape of Climate Change

Which economies will suffer most from global warming, and by just how much? Will others see benefits? The differences are key to understanding how the global economy will look in the coming years. Esteban Rossi-Hansberg...
Podcast Oct 21, 2021

Can Monetary Policy Solve Inflation and Unemployment?

Inflation has spiked, even while the economy still recovers. What can the Fed do? It’s one of the biggest and most rapidly evolving questions facing macroeconomists today. In this Extra Slice of The Pie, Chicago...
Podcast Aug 5, 2021

Nudge: The Final Edition Book Talk with Richard Thaler

How can a small nudge make a big impact? Since publishing the first edition of Nudge more than 10 years ago, Cass Sunstein and Richard Thaler have changed the way businesses and governments design rules...