The Economics of Everyday Things

It takes fungi-sniffing dogs, back-room deals, and a guy named “The Kingpin” for the world’s most coveted morsel to end up on your plate. Zachary Crockett picks up the scent.   * SOURCES: * Jason McKinney [https://www.truffleshufflesf.com/pages/our-story], co-founder and C.E.O. of Truffle Shuffle. * Besart Morina, truffle dealer.   * RESOURCES: * "Dogs Pay the Price in Italian Truffle War [https://www.wsj.com/articles/dogs-pay-the-price-in-italian-truffle-war-11671367338]," by Margherita Stancati (The Wall Street Journal, 2022). * "How Truffles Took Root Around the World [https://www.smithsonianmag.com/science-nature/how-truffles-took-root-around-the-world-180981011/]," by Federico Kukso (Smithsonian Magazine, 2022). * "Has the American-Grown Truffle Finally Broken Through? [https://www.smithsonianmag.com/innovation/american-grown-truffle-breakthrough-180977702/]" by Rowan Jacobsen (Smithsonian Magazine, 2021). * "Sonoma County Farm Strikes Black Truffle Gold After 9 Years of Waiting [https://www.latimes.com/food/story/2021-12-23/geyserville-sonoma-county-black-perigord-truffle]," by Jenn Harris (Los Angeles Times, 2021). * "In Nicolas Cage’s ‘Pig,’ How Much Is the Truffle Hog Worth Anyway? [https://www.nytimes.com/2021/07/16/dining/pig-movie-nicolas-cage.html]" by Victoria Petersen (The New York Times, 2021). * "Predicted Climate Change Will Increase the Truffle Cultivation Potential in Central Europe [https://www.nature.com/articles/s41598-020-76177-0]," by Tomáš Čejka, Miroslav Trnka, Paul J. Krusic, Ulrich Stobbe, Daniel Oliach, Tomáš Václavík, Willy Tegel, and Ulf Büntgen (Nature Scientific Reports, 2020). * "Inside the Exceptionally Shady World of Truffle Fraud [https://www.eater.com/2019/5/28/18638762/truffle-fraud-fake-italian-piedmont-alba-white-truffles]," by Ryan Jacobs (Eater, 2019). * "Truffle Thieves Face Paramilitary Threat [https://www.theguardian.com/world/2012/dec/23/french-truffle-thieves-military-threat]," by Kim Willsher (The Guardian, 2012). * "The Hidden Life of Truffles [https://www.scientificamerican.com/article/the-hidden-life-of-truffles/]," by James M. Trappe and Andrew W. Claridge (Scientific American, 2010). * "Cultivation of Black Truffle to Promote Reforestation and Land-Usestability [https://hal.science/hal-00886320/document]," by José Antonio Bonet, Christine R. Fischer, and Carlos Colinas (Agronomy for Sustainable Development, 2006).

Once considered noble and heroic, pigeons are now viewed as an urban nuisance — one that costs cities millions of dollars a year. Zachary Crockett tosses some crumbs.   * SOURCES: * Andrew Blechman [http://www.andrewblechman.com/], journalist and author. * David Champagne [https://www.birdbustersinc.com/what-we-do], owner of Bird Busters, Inc.   * RESOURCES: * "Racing Pigeon Sells For A Record-Breaking $1.9 Million At Auction [https://www.forbes.com/sites/carlieporterfield/2020/11/15/racing-pigeon-sells-for-a-record-breaking-19-million-at-auction/]," by Carlie Porterfield (Forbes, 2020). * "Feathers of Honor: U.S. Army Signal Corps Pigeon Service in World War I, 1917–1918 [https://www.jstor.org/stable/26939907?seq=1]," by Frank A. Blazich Jr. (Army History, 2020). * "Pigeon Wars [https://www.nytimes.com/2006/10/15/magazine/15pigeons.html?pagewanted=1&_r=1]," by Jon Mooallem (The New York Times, 2006). * Pigeons: The Fascinating Saga of the World's Most Revered and Reviled Bird [https://amzn.to/3WV6PW9], by Andrew Blechman (2004). * "Pigeons Have Magnets [https://www.science.org/doi/10.1126/science.472725#:~:text=Research%20on%20pigeon%20homing%20suggests,appears%20to%20be%20single%20domains]," by Charles Walcott, James L. Gould, and J. L. Kirschvink (Science, 1979). * "The Pigeon as a Quality-Control Inspector [https://psycnet.apa.org/record/1966-07512-001]," by Thom Verhave (American Psychologist, 1966).   * EXTRAS: * "Freakonomics Radio Live: 'Jesus Could Have Been a Pigeon [https://freakonomics.com/podcast/freakonomics-radio-live-jesus-could-have-been-a-pigeon/],'" by Freakonomics Radio (2018).

How do criminals turn their ill-gotten gains into taxable income? And how does law enforcement stop them? Zachary Crockett follows the money.   * SOURCES: * Patrick McKenzie [https://www.linkedin.com/in/patrickmckenzie/], fraud prevention expert and strategic advisor at Stripe. * Kerry Myers [https://www.usf.edu/business/about/bios/myers-kerry.aspx], associate professor of instruction at the University of South Florida and former F.B.I. special agent.   * RESOURCES: * "National Assessments of Money Laundering Risks: Stumbling at the Start [https://onlinelibrary.wiley.com/doi/pdf/10.1111/risa.14302]," by Joras Ferwerda and Peter Reuter (Risk Analysis, 2024). * "Hacker 'Washes' $25M in Stolen Crypto Through Magic: The Gathering Card Scheme [https://blockonomi.com/hacker-washes-25m-in-stolen-crypto-through-magic-the-gathering-card-scheme/]," by Oliver Dale (Blockonomi, 2023). * "Money Spending or Money Laundering: The Fine Line between Legal and Illegal Financial Transactions [https://digitalcommons.pace.edu/cgi/viewcontent.cgi?article=1844&context=plr]," by Matthew R. Auten (Pace Law Review, 2013). * "HSBC to Pay $1.9bn in US Money Laundering Penalties [https://www.bbc.com/news/business-20673466]" (BBC News, 2012). * "How a Big US Bank Laundered Billions From Mexico's Murderous Drug Gangs [https://www.theguardian.com/world/2011/apr/03/us-bank-mexico-drug-gangs]," by Ed Vulliamy (The Guardian, 2011).   * EXTRAS: * "Why Does One Tiny State Set the Rules for Everyone? [https://freakonomics.com/podcast/why-does-one-tiny-state-set-the-rules-for-everyone/]" by Freakonomics Radio (2023). * "Kafkaesque [https://www.imdb.com/title/tt1615558/]," S3.E9 of Breaking Bad (2010).

Thanks to online booking platforms, the way we make reservations has changed — but a table at a hot restaurant on a Friday night is still a valuable commodity. Zachary Crockett books a four-top for 7 p.m.   * SOURCES: * Lisa Blount [https://www.linkedin.com/in/lisa-blount-7751136/], director of marketing and public relations at Antoine’s Restaurant. * Adam Iscoe [https://www.adamiscoe.com/], writer.   * RESOURCES: * "Why You Can’t Get a Restaurant Reservation [https://www.newyorker.com/news/our-local-correspondents/why-you-cant-get-a-restaurant-reservation]," by Adam Iscoe (The New Yorker, 2024). * "New York Passes Bill to Make the Restaurant Reservation Black Market Illegal [https://ny.eater.com/2024/6/7/24173621/restaurant-reservation-anti-piracy-act-bill-passes-new-york]," by Emma Orlow (Eater, 2024). * "When Canceling Your Reservation Costs as Much as Dinner [https://www.nytimes.com/2024/03/11/dining/restaurant-cancellation-fees.html]," by T.M. Brown (The New York Times, 2024). * "65% Of Diners Go Directly To A Restaurant’s Website To Book A Reservation [https://pos.toasttab.com/blog/on-the-line/restaurant-reservations-and-wait-times-data]," by Tessa Zuluaga (Toast, 2024). * "No-Show Diners by the Numbers [https://restaurant.opentable.com/resources/no-show-diners-numbers/]," by OpenTable (2021). * "Selling Reservations Democratizes the Dining Experience [https://www.nytimes.com/roomfordebate/2014/06/18/should-restaurant-reservations-be-for-sale/selling-reservations-democratizes-the-dining-experience]," by Tyler Cowen (The New York Times, 2015). * Antoine's Restaurant [https://antoines.com/about#:~:text=ESTABLISHED%20IN%201840%2C%20ANTOINE%E2%80%99S%20IS%20THE%20COUNTRY%E2%80%99S%20OLDEST%20FAMILY%2DRUN%20RESTAURANT.].   * EXTRAS: * "Why You Shouldn’t Open a Restaurant [https://freakonomics.com/podcast/why-you-shouldnt-open-a-restaurant/]," by Freakonomics Radio (2018).

There are more firefighters than ever — and fewer fires for them to fight. So the job has changed. Zachary Crockett slides down the pole.   * SOURCES: * Joshua Hurwitz [https://globalbusiness.tufts.edu/experience/leadership-faculty/joshua-hurwitz/], lecturer in economics at Tufts University. * Eric Mackintosh [https://www.smcfire.org/about-us/command-staff/], administrative battalion fire chief for San Mateo Consolidated Fire Department. * Steve Pegram [https://www.linkedin.com/in/steve-pegram-2a2b2272/], retired fire chief and township administrator in Ohio.   * RESOURCES: * "The Dire Shortage of Volunteer Firefighters in the US [https://www.bbc.com/worklife/article/20240124-the-dire-shortage-of-volunteer-firefighters-in-the-us]," by Sam Becker (BBC, 2024). * San Mateo Consolidated Fire Department 2023 Annual Report [https://www.smcfire.org/wp-content/uploads/2024/02/2023-ANNUAL-REPORT.pdf] (2024). * "Essays on the Economics of U.S. Firefighting [https://dash.harvard.edu/handle/1/37368375]," by Joshua Hurwitz (Harvard University doctoral dissertation, 2021). * "Over Last 20 Years, Annual Fires in the US Declined by About 50% While Career Firefighters Increased More Than 50%? [https://www.aei.org/carpe-diem/over-last-20-years-annual-fires-in-the-us-declined-by-about-50-while-career-firefighters-increased-more-than-50/]" by Mark J. Perry (AEIdeas, 2015).   * EXTRAS: * "Getting Old, Adventurously [https://freakonomics.com/podcast/getting-old-adventurously/]," by People I (Mostly) Admire (2024).