Odd Lots

How did China become the economic behemoth that it is today? One pivotal moment was, obviously, it's ascension into the WTO. Prior to that, the era of reform under Deng Xiaoping was obviously crucial. But obviously no single event or turning point can really tell the story. In a groundbreaking new book -- The Great Transformation: China’s Road from Revolution to Reform --  historians Odd Arne Westad and Chen Jian tell the full story of how China went from being an impoverished, highly planned communist economy to the dynamic capitalist economy it is today. We spoke with Westad, a professor at Yale, about this book, and what people get wrong about China's big opening up. Read more:China’s Surging LNG Imports From US Threatened by Next Trade WarMorgan Stanley, Goldman Call for Greater China TransparencySee omnystudio.com/listener for privacy information.

After his victory, Donald Trump announced that Elon Musk and Vivek Ramaswamy would be leading up a new Department of Government Efficiency in order to crack down on wasteful, fraudulent spending inside the federal government. Setting aside the question of how effective this particular endeavor will be, the basic premise of cracking down on waste and going after fraudsters should generally be non-controversial. So what does fraud look like? How do companies bilk programs like Medicare and Medicaid for billions of dollars every year? And what can be done about it? On this episode, we speak with Jetson Leder-Luis, an assistant professor at the Questrom School of Business at Boston University and a faculty research fellow at the National Bureau of Economic Research. Jetson walks us through such things as ambulance fraud, identity theft, and other techniques that are used to milk the system. He also explains the tactics and strategies that the government can deploy to reduce billions in wasted spending. Become a Bloomberg.com subscriber using our special intro offer at bloomberg.com/podcastoffer. You’ll get episodes of this podcast ad-free and exclusive access to our daily Odd Lots newsletter. Already a subscriber? Connect your account on the Bloomberg channel page in Apple Podcasts to listen ad-free.See omnystudio.com/listener for privacy information.

In the final episode of our special three-part series exploring the US economy through the chicken industry, we’re taking a look at market competition. Chicken in the US is dominated by a handful of huge poultry processors. But new technologies,  like algorithmic pricing, are also leading to accusations of anticompetitive corporate behavior that can potentially create bad outcomes for both consumers and workers. We’re using poultry to trace the evolution of America’s approach to antitrust and learning what’s different now. You’ll hear from senior officials at the Department of Justice about how concentration in chicken and elsewhere is impacting the economy, and what can be done to fix it.    Become a Bloomberg.com subscriber using our special intro offer at bloomberg.com/podcastoffer. You’ll get episodes of this podcast ad-free and exclusive access to our daily Odd Lots newsletter. Already a subscriber? Connect your account on the Bloomberg channel page in Apple Podcasts to listen ad-free.See omnystudio.com/listener for privacy information.

The Odd Lots team is analyzing the US economy through the lens of chicken. In this second episode of our special three-part series, we look at the birds themselves and the people who farm them. Because the way we actually get chicken has changed a lot over the years, with the industry evolving from backyard birds to huge poultry companies that outsource chicken growing to independent contractors. Farmers often say they are taking on most of the risk of raising chicks, while the big poultry companies get most of the upside. And this model of farming is becoming more popular in other agricultural areas too. So what does the way chickens are produced say about the labor market, the way it’s structured, and the distribution of risk and profits? We speak with chicken growers, agricultural experts, and more. This episode was updated on November 19th, 2024 to reflect a clarification —it wasn’t until 2013 that Craig Watts sent a film of his barns to his production manager. In 2014 is when he partnered with a human rights activist to produce that exposé on chicken farming. Become a Bloomberg.com subscriber using our special intro offer at bloomberg.com/podcastoffer. You’ll get episodes of this podcast ad-free and exclusive access to our daily Odd Lots newsletter. Already a subscriber? Connect your account on the Bloomberg channel page in Apple Podcasts to listen ad-free.See omnystudio.com/listener for privacy information.