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Freakonomics Radio

The First Great American Industry (Update)

Freakonomics Radio

Freakonomics Radio + Stitcher

Documentary, Society & Culture

4.632K Ratings

🗓️ 8 August 2025

⏱️ 45 minutes

🧾️ Download transcript

Summary

Whaling was, in the words of one scholar, “early capitalism unleashed on the high seas.” How did the U.S. come to dominate the whale market? Why did whale hunting die out here — and continue to grow elsewhere? And is that whale vomit in your perfume? (Part 1 of “Everything You Never Knew About Whaling.”)

Transcript

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0:00.0

Hey there, it's Stephen Dubner. We are taking a little summer break. Maybe you are too.

0:09.4

So we wanted to play you a series from the recent archives, one of our very favorites. This comes from

0:14.8

2023, and the series was called Everything You Never Knew About Whaling. Back in the 19th century, whale hunting was big

0:23.6

business, especially in the U.S. It created massive wealth and it drove investment in other parts

0:28.4

of the economy. But eventually it collapsed for a variety of reasons, all of them pretty interesting.

0:34.9

We also learned that whaling continues to affect the economy in some

0:38.5

parts of the world. Consider this. President Trump's Big Beautiful bill includes a provision that

0:44.5

allows indigenous Alaskan whaling captains to claim larger tax deductions on their business

0:49.5

operations. This provision helped Republicans get Alaska Senator Lisa Murkowski to vote for the bill.

0:56.3

So, whaling is still making news, at least the news we read.

1:01.0

This series was a lot of fun to make, and I hope you enjoy listening to it.

1:05.3

We have updated facts and figures as necessary.

1:11.9

What drives you to do what you do, Paul?

1:15.4

I don't want to live in a world without whales.

1:21.6

Paul Watson is an environmental activist.

1:25.3

You may remember him from a TV show called Whale Wars,

1:28.3

where he and his crew confronted Japanese whale hunting ships in Antarctica.

1:34.2

Warning, warning, warning,

1:36.7

quit poaching whales and go back to Japan.

1:40.5

Watson calls himself an eco warrior.

1:47.0

Other people have different names for him. A judge on the Ninth Circuit Court of Appeals called him a pirate.

1:51.0

I'm actually quite proud of the fact that I'm officially a pirate.

...

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