38. The Church of "Scionology"

Freakonomics Radio

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4.6 • 32K Ratings

🗓️ 3 August 2011

⏱️ 57 minutes

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Summary

We worship the tradition of handing off a family business to the next generation. But is that really such a good idea?

Transcript

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0:00.0	This is Freakonomics Radio, I'm Stephen Dubner.
0:03.2	Let me ask you a question.
0:05.5	What do this Ford Motor Company and this?
0:08.5	Levi's Blue Gene.
0:09.8	And this, this family moment, is brought to you by Walmart and this.
0:13.6	And this.
0:14.6	And this.
0:15.6	How about some M&M?
0:16.6	And this.
0:17.6	New York Times.
0:18.6	And this, SC Johnson, isn't just a company.
0:22.8	Evan Common.
0:23.8	Yeah, there's some of the most popular and prestigious brands in the history of American
0:28.8	business, but also each of them is a family business.
0:33.0	Isn't that amazing?
0:34.4	Isn't that fantastic?
0:36.2	About one third of the companies in the Fortune 500 are family controlled.
0:40.8	You know the story.
0:43.6	Some incredibly hardworking person starts a business.
0:47.2	Maybe it's a bakery or a brewery.
0:49.6	It could be a car maker, a newspaper.
0:52.4	And against all odds, the business doesn't just succeed.
	...

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