Tracy Alloway

In this episode, hosts Tracy Allaway and Joe Weisenthal interview economists Owen Zidar and Eric Zwick about their research on private business owners in America, particularly focusing on the tax implications of pass-through entities. They reveal that there are approximately three million private business owners, termed 'Main Street Millionaires,' with an average wealth of around $25 million. The discussion covers how these owners contribute significantly to income inequality, the complexities of the U.S. tax code, and the economic dynamics of various industries, including auto dealerships and dental practices. Zidar and Zwick also share insights on how their research challenges conventional narratives about wealth distribution and the role of small businesses in the economy.

In this episode, hosts Traci Alloway and Joe Weisenthal interview Francis Fukuyama about his new memoir, 'In the Realm of the Last Man,' and revisit his influential essay 'The End of History?' Fukuyama reflects on how his views have changed in light of recent political developments, including the rise of populism and the challenges facing liberal democracy. He discusses the implications of generational change, the impact of technology and social media, and the philosophical underpinnings of his work. Fukuyama also addresses the current state of China as an alternative model to liberal democracy and the psychological aspects of human ambition and recognition.