meta_pixel
Tapesearch Logo
Log in
Capitalisn't

How Profit and Politics Hijacked Scientific Inquiry, with John Ioannidis

Capitalisn't

University of Chicago Podcast Network

Stigler Center, Chicago Booth, Socialism, Antitrust, University Of Chicago Podcast Network, Growth, 087667, Policy, Monopoly, Professors, Distortion, Research, Competition, Capitalisnt, Inequality, Promarket, Politics, Policymaking, Special Interest, Economics, Efficiency, Regulations, Chicago, Business, Markets, University Of Chicago, Kate Waldock, Capitalism, Friction, Bethany Mclean, Government, Macroeconomics, News, Education, Waldock, Georgetown, Microeconomics, Luigi Zingales, Zingales, Finance, Ucpn

4.5 • 584 Ratings

🗓️ 18 September 2025

⏱️ 48 minutes

🧾️ Download transcript

Summary

Why does a podcast about capitalism want to talk about science? Modern capitalism and science have evolved together since the Enlightenment. Advances in ship building and navigation enabled the Age of Discovery, which opened up new trade routes and markets to European merchants. The invention of the spinning jinny and cotton in the 18th century spurred textile production. The United States’ Department of Defense research and development agency helped create the precursor to the internet. The internet now supports software and media industries worth trillions of dollars. On the flip side, some of America’s greatest capitalists and businesses, including Thomas Edison, Henry Ford, and Bell Labs, gave us everything from electricity production to the transistor. Neither science nor capitalism can succeed without the other. However, science’s star is now dimming. Part of this is due to political intervention. In the U.S., the federal government has cut funding for scientific research. The Covid-19 pandemic diminished the public’s trust in scientific experts, which social media has exacerbated through misinformation. Restrictions on immigration may further hamper scientific research as some of the world’s brightest minds lose access to funding and state-of-the-art facilities. But so too has capitalism played a hand in science’s struggles. While corporations sponsor a significant portion of funding for scientific research, this funding too often comes with undisclosed conflicts of interest. Or corporate pressure may influence results in other ways. Stanford University professor John Ioannidis is a physician, writer, and one of the world's most-cited scientists. He studies the methodology and sociology of science itself: how the process and standards for empirical research influence findings in ways that some may find inaccurate. His 2005 essay "Why Most Published Research Findings Are False" is one of the most accessed articles in the history of Public Library of Science (PLOS), with more than three million views. Ioannidis joins Bethany and Luigi to discuss the future of the relationship between capitalism and science, how both will have to respond to contemporary politics, and how one even conceptualizes robust measurements of scientific success.

Transcript

Click on a timestamp to play from that location

0:00.0

you know, wrong incentives, wrong financial incentives for scientists, even in democratic societies,

0:04.9

can be problematic.

0:08.4

I'm Bethany McLean.

0:10.1

Did you ever have a moment of doubt about capitalism and whether greed's a good idea?

0:15.3

And I'm Luigi Zengales.

0:16.7

We have socialism for the very rich, rugged individualism for the poor.

0:22.2

And Mrs. Capital Isn't, a podcast about what is working in capitalism.

0:26.1

First of all, tell me, is there some society you know that doesn't run on greed?

0:30.6

And most importantly, what isn't?

0:32.6

We ought to do better by the people that get left behind.

0:35.5

I don't think we shouldn't kill the capital system in the

0:37.7

process. Today's topic is a little bit, may seem a little bit different for us, because we have

0:43.7

a guest who is a scientist. So why does a podcast about capitalist want to talk about science?

0:50.0

Because capital and science were poor and roughly at the same time.

0:57.0

They share a common cultural foundation.

0:59.9

And there is a mutual dependency between the two.

1:03.0

Modern capitalists cannot exist without the fruits of science. And modern science is supported by capitalist institutions that finance laboratories,

1:09.0

R&Ds, and universities.

1:11.1

Their success is intermingled in complicated ways.

1:15.2

If per capita income today is 27 times what it was 250 years ago,

1:20.0

and if life expectancy is twice as long as it was 250 years ago,

1:25.3

is that due to the success of capitalism or the success of science or both?

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from University of Chicago Podcast Network, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of University of Chicago Podcast Network and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.