Capitalisn't

Author: University of Chicago Podcast Network

Is capitalism the engine of destruction or the engine of prosperity? On this podcast we talk about the ways capitalism isor more often isntworking in our world today. Hosted by author and journalist Bethany McLean and world renowned economist Luigi Zingales, we explain how capitalism can go wrong, and what we can do to fix it. Cover photo attributions: https://www.chicagobooth.edu/research/stigler/about/capitalisnt. If you would like to send us feedback, suggestions for guests we should bring on, or connect with Bethany and Luigi, please email: contact at capitalisnt dot com. If you like our show, we'd greatly appreciate you giving us a rating or a review. It helps other listeners find us too.
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Language: en

Genres: Business, Government

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Are Betting Apps Engineered for Addiction? - ft. Jonathan Cohen
Episode 152
Thursday, 5 February, 2026

If a sports betting app has the data to know exactly when a user is struggling financially, should it have a legal duty to cut that person off?On this episode of Capitalisn't, we dive into the murky waters of the American sports betting explosion. We are often told that legalization simply moves an existing black market into the light, but guest Jonathan Cohen argues that the issue isn’t that we legalized the industry—it’s that we did it "recklessly."Cohen, the Policy Lead at the American Institute for Boys and Men and author of Losing Big: America's Reckless Bet on Sports Gambling, joins Bethany and Luigi to outline the serious costs of this rapid liberalization. His data shows that legalized online sports betting is associated with a 25% to 30% increase in personal bankruptcies, a notable rise in auto loan defaults and credit card delinquencies, and increased cases of childhood neglect.Is there a way to fix this market so that it is fair for consumers without imposing such a high degree of societal cost? Host Luigi Zingales suggests a broader solution: a "fiduciary duty" for data collectors. When you give sensitive information to a doctor, accountant, or lawyer, they are bound to use that data only in your interest. If a betting app sees a user's credit card deposits being declined or identifies a pattern of "loss chasing," should they be legally required to act in your interest instead of targeting you with VIP offers? Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.