Cautionary Tales with Tim Harford

Dore Strauch and Friedrich Ritter make an unconventional couple, united by their contempt for shoes, root vegetables and, above all, society. In 1929 they leave Germany and begin anew on the deserted Galapagos island of Floreana. At first, it feels like a paradise, but soon cracks begin to show. Parasitic fleas, bombastic interlopers, and buried tensions turn their escape into a nightmare. Can they learn to thrive away from civilis...

In the early 90s, cutting-edge advertising agency Chiat/Day announced a radical plan, aimed at giving the company a jolt of creative renewal. They would sweep away corner offices and cubicles and replace them with zany open spaces, as well as innovative portable computers and phones. A brand new era of “hot-desking” had arrived.

Problems quickly began. Disgruntled employees found themselves hauling temperamental, clunky...

Pepsi twice ended up in court after promotions went disastrously wrong. Other big companies have fallen into the same trap - promising customers rewards so generous that to fulfil the promise might mean corporate bankruptcy.

Businesses and customers alike are sometimes blinded by the big numbers in such PR stunts - but it's usually the customers, not the businesses, who end up losing out.

For a full list of show notes...

It's been five years since Cautionary Tales ran a mini-series about the Covid-19 pandemic, exploring the lessons we were learning in real time as the crisis unfolded. 'Fire at The Beverly Hills Supper Club' tells the story of a deadly blaze in a Cincinnati hotel and Tim's own experience reacting to new information about the virus. After the episode, Tim reflects on the anniversary, the cautionary tales the pandemic still had to tea...

Lying on the cold metal table, Voyne Ray Cox knew the drill. This was his ninth round of cancer treatment - which is why he was certain that what happened next couldn't be right. He heard a sizzling sound and saw a blue flash. And then - agony. It was like someone had thrust a hot skewer through his shoulder. He cried out in pain, but the operator was down the corridor and she couldn't hear him. She blasted him again and again with...

Acclaimed author Michael Lewis discusses his time with Sam Bankman-Fried and why he thinks both high finance and Effective Altruism shaped the 'Crypto King's' worldview, ultimately landing him in jail. Plus, we hear about the people fighting terrorism, cave-ins and brain-eating amoeba from Michael's new book 'Who Is Government?'.

For a full list of sources, see the show notes at timharford.com.

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A radical thought experiment transforms the lives of a new breed of philanthropists, as they follow the logic of altruism to extraordinary lengths. The most famous convert to the Effective Altruism movement, Sam Bankman-Fried, is either a humanitarian hero, a con artist at an astonishing scale, or most bafflingly, both.

For a full list of sources, see the show notes at timharford.com.

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Steven Spielberg thought his career was finished. He was behind schedule, his actors were fighting, the crew were mutinous and worst of all, his shark was broken. It looked like Jaws was destined for failure, but the movie that came out defined the Hollywood blockbuster. In this special episode celebrating 50 years of Jaws, we take lessons from the greatest monster movie that almost wasn't made.

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The annual Le Mans 24 Hour race brings in hundreds of thousands of spectators to watch the giants of motor racing put their endurance to the ultimate test. Every year, technology improves and the cars get a little faster. In 1955, that push for ultimate speed results in a catastrophe that changes the sport forever.

For a full list of sources, see the show notes at timharford.com.

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Lise Meitner has fought for her entire life to be seen as a scientist, slowly building a career as a nuclear physicist in Berlin. When Adolf Hitler rises to power, the small gains she's made are snatched away. As a Jewish woman, Lise has a critical decision to make: is her passion for science worth her life?

An earlier version of this podcast mistakenly gave the wrong date for the bombing of Hiroshima. We apologize for the error.

Can game theory be used to win a world cup? Can you pay the way out of political corruption? And are there winning strategies in life we don't use because we're too embarrassed? Tim teams up with Nate Silver and Maria Konnikova, poker connoisseurs and the hosts of podcast Risky Business to answer your questions, tackling everything from sports, to tariffs, to the evils of smartphones.

For a full list of sources, see the show n...

Sixteen years have passed since Ferdinand De Lesseps' catastrophic failure in Panama and the dramatic collapse of the French Panama Canal company. Now, President Theodore Roosevelt has picked up the task. “No single great material work,” Roosevelt tells Congress, “is of such consequence to the American people.”

The Americans have their work cut out. Enter chief engineer John Stevens. How does he spot ...

Ferdinand De Lesseps, "the Great Frenchman", is convinced that he is the man to build the Panama Canal. No, he isn't an engineer and, no, he's never actually been to Panama before. But he managed to dig the Suez Canal, and everyone said that would be impossible too. How hard can it be?

For a full list of sources, see the show notes at timharford.com.

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In 1978 the world is on the brink of declaring victory over smallpox. No cases have been seen for months, and it looks like the end for a deadly, painful disease. When a photographer in Birmingham begins to feel ill, doctors are mystified: it looks like smallpox, but how could she have caught it? As they try to contain the outbreak, questions about blame and lab safety erupt in a media frenzy, questions that remain today.

For ...

In 1900, two friends in the flourishing Arts and Crafts Movement in London share a vision: to print the ultimate edition of the Bible. Together they create The Doves Press, and its unique font, Doves. But in their quest to make something beautiful, the friends spiral towards an act of incredible ugliness.

For a full list of sources, see the show notes at timharford.com.

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Cautionary Tales returns with a new episode on May 2nd.

Both of the world’s greatest economists, Irving Fisher and John Maynard Keynes, thought they could see into the future and make a killing on the stock market - and then both were wiped out by the Wall Street Crash. One died a pauper, the other millionaire. What does it take to bounce back from ruin? Oh... and UFOs.

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