Lizzie J. Magie (played by Helena Bonham Carter) should be celebrated as the inventor of what would become Monopoly - but her role in creating the smash hit board game was cynically ignored, even though she had a patent. Discrimination has marred the careers of many inventors and shut others out from the innovation economy entirely. Could crediting forgotten figures such as Lizzie Magie help address continuing disparities in the patenting of new inventions? Read more about Tim's work at http://timharford.com/   Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Do NOT Pass GO!

We tell our children unsettling fairy tales to teach them valuable lessons, but these Cautionary Tales are for the education of the grown ups – and they are all true. Tim Harford (Financial Times, BBC, author of “The Data Detective”) brings you stories of awful human error, tragic catastrophes, and hilarious fiascos. They'll delight you, scare you, but also make you wiser. New episodes every other Friday.

Society & Culture

Personal Journals

History

Philosophy

Places & Travel

Cautionary Tales will be LIVE on stage in London this May. Tickets are on sale now: https://www.tegeurope.com/events/cautionary-tales/
Neatly dressed in his suit, Hans Ferdinand Mayer was every inch the unassuming corporate executive. So, when he asked to borrow a typewriter from his hotel in Oslo, nobody could have guessed he would use it for one of the most extraordinary intelligence leaks in history.
Mayer's gloved fingers punched out the details of Nazi Germany's most sensitive military operations and, when he had finished, he immediately dispatched his documents to the British  —  who did nothing.
Why did the British ignore Mayer? Did they fail to pick out a crucial signal amid the noise of detail — or was something else going on?
This episode of Cautionary Tales is based, with permission, on Tom Whipple’s book The Battle of the Beams, which is available from all good booksellers.
For a full list of sources, see the show notes at timharford.com. See omnystudio.com/listener for privacy information.

WW2: How Britain Ignored the Mother of All Secrets

Cautionary Tales will be LIVE on stage in London this May. Tickets are on sale now: https://www.tegeurope.com/events/cautionary-tales/
Sam Israel had a problem. The investors in his hedge fund, Bayou Capital, were expecting spectacular returns. Sam himself had spent years proclaiming the fund's brilliant results. But in reality, Sam had been marking his own homework, publishing fraudulent accounts and using these to lure in new investors. 
What to do? Well, the logical thing of course: wait around for an extraordinary profitable streak, and in the meantime keep up the ruse...
This episode of Cautionary Tales was recorded live at the Bristol Festival of Economics and studies three incredible investment scams. How do pyramid and ponzi schemes snowball out of control, flattening victim and fraudster alike?
For a full list of sources, see the show notes at timharford.com. See omnystudio.com/listener for privacy information.

The Fraudster's Guide to Magic Money

Bonus: When Spanish conquistadors arrived in Peru in 1526, it was the beginning of the end for the Inca. Their bloody pursuit of gold, fame and fortune was rife with treachery and deceit. Within a few short years, the once-thriving Inca empire had been decimated.
Tim Harford is joined by Dan Snow for a special crossover episode of Cautionary Tales and Dan Snow's History Hit. Tim and Dan first recap the spectacular defeat of the French knights at the Battle of Crécy in 1346, and then draw surprising parallels with the fall of the Inca Empire two centuries later. See omnystudio.com/listener for privacy information.

Blood and Gold (with Dan Snow)

Nicolae Ceaușescu was not beloved. His regime was vicious and he treated Romania as his personal wallet: while Ceaușescu emptied the coffers to construct a vast, ornate palace, his people starved. He imposed disastrous population control policies on his country, too, which saw hundreds of thousands of unwanted children left to rot in squalid orphanages. Ceaușescu's rule endured for a quarter of a century - then crumbled overnight.
How do dictatorships unravel? In a second episode, Tim Harford partners with HBO's new series "The Regime" to investigate real-life dictatorships and the social science that explains them.
For a full list of sources, see the show notes at timharford.com. See omnystudio.com/listener for privacy information.

The Rise and Fall of a Megalomaniac

Why are so many autocrats germaphobes? Why was the truth so dangerous for Soviet engineers? And what can salami reveal to us about the mind of Vladimir Putin?
This is the first of two special episodes in partnership with HBO's new series "The Regime". Tim Harford investigates real-life dictatorships and the social science that explains them, drawing on insights from game theory and psychology.
For a full list of sources, see the show notes at timharford.com. See omnystudio.com/listener for privacy information.

Do NOT Pass GO!

Download our free app to listen on your phone