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The Economics of Everyday Things

88. Fortune Cookies

The Economics of Everyday Things

Freakonomics Network

Business

4.81.2K Ratings

🗓️ 14 April 2025

⏱️ 21 minutes

🧾️ Download transcript

Summary

Those tiny treats that predict your future may come free at the end of a Chinese meal, but they’re big business (and not Chinese). Zachary Crockett will go on a long journey.

Transcript

Click on a timestamp to play from that location

0:00.0

At first glance, 37th Street in Long Island City, New York, looks a little down on its luck.

0:09.8

On one side of the road, there's a strip of dilapidated warehouses and auto body shops.

0:14.9

On the other, there's a cemetery where mafiosi are buried.

0:18.9

You can hear mechanics drilling out tire bolts

0:21.1

and cars honking on the nearby expressway.

0:24.4

But inside of a white brick building on the corner,

0:27.3

you'll find a place where, quite literally, fortunes are made.

0:33.9

All right.

0:36.4

He who throws mud loses ground.

0:40.0

A day without smiling is a day wasted.

0:43.7

A clean conscience is a good pillow.

0:48.5

People will always hunger to feel that they're part of something greater.

0:51.9

The cookie you eat it, it's over in a minute,

0:54.8

but it's the message that stays in your mind.

0:59.2

That's Norman Wong. He's the CEO of Wantan Food, the largest manufacturer of fortune cookies

1:06.1

in the world. Between its New York factory and additional facilities in Texas and Tennessee, it produces

1:12.7

five and a half million of them every day.

1:16.3

If you laid out their annual output of fortune cookies end-to-end, it would circle the globe

1:21.1

two and a half times.

1:23.2

We are most of the market.

1:25.5

So primarily Chinese restaurants, they are the typical mom and pops that you see, but also

1:29.8

national food chains.

...

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