How do beekeepers make a living? Why is there so much honey fraud? And why did billions of bees suddenly disappear? To find out, guest host Steve Levitt activates his hive mind. SOURCES: Alex Sapoznik, historian, reader in late medieval history at King’s College London. Chris Hiatt, past president of the American Honey Producers Association, owner of Hiatt Honey Company. Michael Roberts, founding executive director of the Resnick Center for Food Law and Policy at U.C.L.A. Law School. Walter "Wally" Thurman, professor emeritus of agricultural economics at North Carolina State University. RESOURCES: "U.S. honey is increasingly supplied through imports," by David Olsen (USDA Economic Research Service, 2018). "Economic Effects and Responses to Changes in Honey Bee Health," by Peyton Ferrier, Randal Rucker, Walter Thurman, and Michael Burgett (USDA Economic Research Service, 2018). "The Fable of the Bees: An Economic Investigation," by Steven Cheung (The Journal of Law and Economics, 1973). "Sugar and Sweeteners Yearbook Tables - Visualization: Meeting honey demand in the United States," (USDA Economic Research Service). Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Nearly everything that politicians say about taxes is at least half a lie. They are also dishonest when it comes to the national debt. In this update of an episode from 2025, Stephen Dubner finds one of the few people in Washington who is willing to tell the truth — and it’s even worse than you think. SOURCES: Jessica Riedl, budget and tax fellow at the Brookings Institution. RESOURCES: "How Did DOGE Disrupt So Much While Saving So Little?" by Emily Badger, David Fahrenthold, Alicia Parlapiano, and Margot Sanger-Katz (New York Times, 2025). "Correcting the Top 10 Tax Myths," by Jessica Riedl (Manhattan Institute, 2024). "Spending, Taxes, and Deficits: A Book of Charts," by Jessica Riedl (Manhattan Institute, 2024). "Why Did Americans Stop Caring About the National Debt?" by Jessica Riedl (Reason, 2024). "A Comprehensive Federal Budget Plan to Avert a Debt Crisis," by Jessica Riedl (Manhattan Institute, 2024). "When Does Federal Debt Reach Unsustainable Levels?" by Jagadeesh Gokhale, Kent Smetters, and Mariko Paulson (The Wharton School of Business, 2023). "The Limits of Taxing the Rich," by Jessica Riedl (Manhattan Institute, 2023). EXTRAS: "Farewell to a Generational Talent," by Freakonomics Radio (2024). Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Is it tradition … or protectionism? And what happens when the bourbon boom turns into a glut? SOURCES: Andrew Muhammad, agricultural economist at the University of Tennessee. Brad Patrick, executive in residence and lecturer at the University of Kentucky Gatton College of Business and Economics, bourbon fellow at the James B. Beam Institute for Kentucky Spirits. Danny Kahn, master distiller and distillation and aging operations director at Sazerac. Ken Troske, labor economist and chair of the economics department at the University of Kentucky. RESOURCES: "America's Bourbon Boom Is Over. Now the Hangover Is Here," by Aaron Tilley and Sadie Gurman (The Wall Street Journal, 2024). Bourbon Empire: The Past and Future of America's Whiskey, by Reid Mitenbuler (2015). "Code of Federal Regulations: Standards of Identity for Distilled Spirits," (Electronic Code of Federal Regulations). Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.