Shows
Adam Smith’s Rubbish Bin (TM)Unions: More Relevant Than EverSend us a textIn this episode Nancy and Bill interview Donna Steslow, a professor, Grievance Co-Chair, and member of the union Executive Committee. Recent economic events have exposed both the positive role unions played in building the middle class and the current need for labor to be represented. Increased income inequality, a K-style economy that benefits a small percentage of households, and historic-levels of extreme wealth combine to put most households at an economic disadvantage.
2026-02-0326 minAdam Smith’s Rubbish Bin (TM)Corruption Everywhere: Can We Trust Again?Send us a textIn this episode Nancy and Bill explore the loss of trust across a number of industries and the integrity of the political process, often facilitated by changing business practices. Trust matters and has economic value. What will it take to get trust back?
2026-01-2225 minAdam Smith’s Rubbish Bin (TM)History shows…don’t fall for the “business opportunity” called multi-level marketing (aka direct selling)!Send us a textMulti-level marketing (MLM), sometimes called direct selling, has proved a money losing proposition for more than sixty years. From lingerie to household items to nutritional supplements to “education” programs, MLMs have screwed consumers hoping to make a little money. History shows that 95% or more of those who join an MLM in hopes of making money end up with a financial loss. In this episode we explore why and warn people, especially young people, against pursuing this type of “business opportunity.”
2026-01-1533 minAdam Smith’s Rubbish Bin (TM)Gen Z—Bright, Ambitious, and ConcernedSend us a textIn this episode Nancy and I continue to talk with members of the GenZ generation. Nina and Aniket are both working as they prepare for graduate school. While optimistic about their chosen careers, they have concerns over the cost of education and an affordable lifestyle after they graduate.
2025-12-2928 minAdam Smith’s Rubbish Bin (TM)Affordable America Disappeared While Politicians FiddledSend us a textAffordability, or the lack there of, is neither a “hoax” nor a “con job.” In this episode we explore the real factors causing consumer confidence to drop. Affordability is not just about current prices; it is also about future expectations. But what do we hear from political leaders? Labels, name calling, and unsupported rhetoric.
2025-12-1827 minAdam Smith’s Rubbish Bin (TM)What is the Future for Gen Z?Send us a textBill and Nancy interview two Gen Z graduate students about their decision to go to graduate school, their outlook on jobs and careers, their thoughts on AI, and that for them the American Dream may be unachievable.
2025-12-0935 minAdam Smith’s Rubbish Bin (TM)The Forever Gilded Age: 150 Years of Corporate PowerSend us a textFor 150 years, American democracy has tried—and repeatedly failed—to rein in corporate power. In this episode, Bill and Nancy trace the original Gilded Age to today’s billionaire class to ask a troubling question: Why does business keep winning?
2025-11-2430 minAdam Smith’s Rubbish Bin (TM)Women and Work: Has the Needle Moved?Send us a textOver the past few decades women have played a greater role in the workplace. Their increased involvement has not been without issues, for them and apparently for some men. In this episode I interview Nancy Lasher about her experiences as a professional, those of her peers, and what she has heard from the younger generation of women at work.
2025-11-1327 minAdam Smith’s Rubbish Bin (TM)Competition Comes at a PriceSend us a textIn this episode we describe how technology and competition drove dramatic changes in in-home entertainment. Consumers gained access and choices never before available. Now, after the “creative destruction” phase we wonder if the industry will become more concentrated and less competitive.
2025-11-0729 minAdam Smith’s Rubbish Bin (TM)Our Endless Appetite for Empty CaloriesSend us a textIn this episode Nancy and Bill explore ultra-processed, supplements, and the marketing messages that sustain them. American foods have been supersized and it shows with 43% of adults classified as obese. What can be done?
2025-10-2327 minAdam Smith’s Rubbish Bin (TM)Economic Bubble or Economy “Back on Track” (per the White House)?Send us a textRecently the White House announced that the economy is “Back on Track.” Yet, numerous economist and even the CEO of JP Morgan Chase say stocks are over-valued, resembling an economic bubble. We examine the data.
2025-10-1524 minAdam Smith’s Rubbish Bin (TM)Federal Intervention in Business: Industrial Policy or Presidential Ego?Send us a textFor decades conservative economists have railed against government intervention in business, actions that undercut a laissez-faire philosophy. Where are their complaints now? In this podcast we look at the current and apparently continuing intervention of the White House in business operations - taking ownership, demanding royalties, even halting or changing operational decisions. Is this new industrial policy? Or is this something else?
2025-10-0228 minAdam Smith’s Rubbish Bin (TM)The Ethics of AI: Who is Making the Rules?Send us a textIn this episode we have a thought provoking discussion with Isabel Koval. A recent graduate of the University of Cambridge with masters degree in the Ethics of AI, Isabel shares why the AI hype may be overblown. More importantly, she describes multiple ethical concerns associated with this rapidly developing technology.
2025-09-1831 minAdam Smith’s Rubbish Bin (TM)The 1,085% Increase in CEO Pay: A Problem of Too Many ZerosSend us a textIn the episode we explore CEO Pay - misaligned from performance and multiples above CEO pay of comparable non-US companies. From 1978 to 2023, CEO pay increased by 1,085%. During that span of time average worker pay increased 24%. By 2023 the ratio of CEO pay to average worker pay reached 290:1. The increased in CEO pay corresponds with the increasing share of wealth of the top .1% of households and growing income inequality.
2025-09-1129 minAdam Smith’s Rubbish Bin (TM)AI, Productivity, and Your JobSend us a textIn this episode TCNJ and NYU alum Christian Balevski - working at the intersection. of software engineering, innovation and emerging technology in finance - discusses the use and future of AI in the workplace. Christian connects the dots between AI and project ROI and discusses how students may want to consider the role of AI in their careers.
2025-09-0431 minAdam Smith’s Rubbish Bin (TM)Everyone Wants All Of Your Money All Of The TimeSend us a textSellers bombard us with messages to buy, buy, buy — and the resulting consumption culture drives America’s economy. Consumer spending makes up about 68% of our GDP, far more than in Germany, Denmark, or Canada. But here’s the catch: the top 10% of U.S. households account for nearly half of all that spending. What happens when the bottom 50–80% of households run out of room in their budgets? We may be getting a preview. Kroger, Barnes & Noble, Olive Garden, Chipotle, and McDonald’s have all reported that lower-income customers are cutting back — just as the economy...
2025-08-1425 minAdam Smith’s Rubbish Bin (TM)It’s the Economy, StupidSend us a textSome economists and business leaders remain (overly) optimistic about the economy. Here we bring look at diverse sets of data and conclude that consumers do not share that optimism and for good reason.
2025-07-1628 minAdam Smith’s Rubbish Bin (TM)The Amazon Effect and The Unknown Cost of ConvenienceSend us a textIn this episode we explore not just what Amazon has done to alter consumer behavior, which is considerable, but also what it might continue to do moving forward. Adam Smith worried about the ability of sellers to control or influence the market.
2025-07-0328 minAdam Smith’s Rubbish Bin (TM)Local Government Gives You Your Money’s WorthSend us a textIn this episode we interview Brian Levine, a three-term mayor of a NJ town and former council member. Brian is a Republican who got elected and re-elected in a town that typically votes overwhelmingly Democrat. Good local government helps make our lives better.
2025-06-1141 minAdam Smith’s Rubbish Bin (TM)Inflation: Not on the Menu Please!Send us a textIn this episode we explore the causes of inflation and the potential harm to consumers. We include a look at interest rates, which tend to be used as a tool against inflation.
2025-05-2827 minAdam Smith’s Rubbish Bin (TM)Trouble With TariffsSend us a textHere we look at the risks and limited reward of broad tariffs, the disfunction of an unclear tariff policy, and the usefulness of selected, shorter-term tariffs.
2025-05-2127 minAdam Smith’s Rubbish Bin (TM)Private Equity and Public HarmSend us a textIn this episode we explore an aspect of private equity investments that have raised concerns regarding their impact on prices, employees, and communities.
2025-05-1331 minAdam Smith’s Rubbish Bin (TM)Crafting a Career: Is Education OverratedSend us a textIn this episode we explore the changing job outlook and the role of higher education.
2025-04-3028 minAdam Smith’s Rubbish Bin (TM)Everyday Consumers and the Lost American DreamSend us a textIn this episode we look at the impact of increasing income and wealth disparities and prices on consumer spending. For example, the top 10% of all US households now accounts for 50% of consumer spending and the average house price ($500K) is now six times median household income ($80,020). In 1955 the average house price was 2.5 times the median income.
2025-04-2329 minAdam Smith’s Rubbish Bin (TM)Laid Off: Researchers, Innovators, and the Department That Fixes StuffSend us a textThis episode digs into the current enthusiasm for government downsizing and disinvestment. Adam Smith, ever the pragmatist, wrote that in addition to providing a defense from external threats and a fair and effective judicial system, the government has a responsibility to create and maintain public institutions and public works.
2025-04-1828 minAdam Smith’s Rubbish Bin (TM)We're In The Money -- The Growing Importance of Lobbying and Political GivingSend us a textWe begin by looking at banking as the financial services industry impacts everyone. Then we look at a dominant manufacturer – Boeing. Each of these companies have had years-long legal and ethical problems while spending millions on lobbying and political candidates. We end by showing the growing economic and political dominance of very large companies.
2025-04-1534 min