Reason Podcast

What Brothels Can Teach All of Us About Risk

Allison Schrager's An Economist Walks Into a Brothel demystifies sex work, big-wave surfing, horse-breeding, and other high-risk professions.

|

Just when you might have thought that economics was played out as a way for us to understand the world, along comes Allison Schrager, a Ph.D. economist who writes for Quartz, teaches at New York University, and is the co-founder of LifeCycle Finance Partners, a risk-advisory firm.

She's the author of the provocative new book, An Economist Walks Into a Brothel: And Other Unexpected Places To Understand Risk. In the opening chapter, Schrager describes spending time at Nevada's famous Moonlite Bunny Ranch and learning how both sex workers and customers pay a premium to minimize and manage all sorts of risks involved in legal prostitution (the prostitutes don't have to worry about screening potential customers or being arrested, for instance, and the johns don't have to worry about being ripped off, blackmailed, or catching a disease). She hangs out with paparazzi who stalk celebrities for high-value candid photographs worth tens of thousands of dollars but more often end up with no pictures at all. She attends an annual conference where big-wave surfers share information and new ideas about minimizing potentially deadly risks inherent in their sport. Other chapters cover professional poker players, horse breeders, a major battle in the 1991 Iraq War, and more.

Schrager combines an economist's analytic framework with a journalist's eye for detail and narrative, resulting in a book that is both difficult to put down and helpful when it comes to managing the risks we face every day, from planning for retirement to switching jobs to thinking about romantic relationships. An Economist Walks Into a Brothel also carries with it an implicitly—and at times explicitly—libertarian message about intentionality and responsibility when it comes to living life to the fullest. Schrager notes that there's no way to fully eliminate risk in our lives but that by using tools provided by financial economics, we "can make better choices and reduce risk."

Subscribe, rate, and review our podcast at iTunes.

Listen at Stitcher by going here or clicking below:

Listen at SoundCloud below:

To watch a separate video interview I conducted with Schrager, go here now.

Don't miss a single Reason Podcast! (Archive here.)

Subscribe at Apple Podcasts.

Subscribe, rate, and review our podcast at Google.

Subscribe and listen at Spotify.

Listen via FeedPress.

Follow us at SoundCloud.

Subscribe at YouTube.

Like us on Facebook.

Follow us on Twitter.

Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment for any reason at any time. Report abuses.

7 responses to “What Brothels Can Teach All of Us About Risk

  1. ”What Brothels Can Teach All of Us About Risk: “”

    Always wear a condom?

    1. Get paid upfront?

      1. Google paid for every week online work from home 8000 to 10000 dollars.i have received first month $24961 and $35274 in my last month paycheck from Google and i work 3 to 5 hours a day in my spare time easily from home. It’s really user friendly and I’m just so happy that I found out about it..go to this site for more details…

        So I started ========>>>>>>>> http://www.payshd.com

    2. Google paid for every week online work from home 8000 to 10000 dollars.i have received first month $24961 and $35274 in my last month paycheck from Google and i work 3 to 5 hours a day in my spare time easily from home. It’s really user friendly and I’m just so happy that I found out about it..go to this site for more details…

      So I started ========>>>>>>>> http://xurl.es/Reason

  2. I quit working at shoprite and now I make $30h ? $72h?how? I’m working online! My work didn’t exactly make me happy so I decided to take a chance? on something new? after 4 years it was so hard to quit my day job but now I couldn’t be happier.
    Heres what I’ve been doing? ,,,
    CLICK HERE? http://xurl.es/reasonn

  3. I am getting $100 to $130 consistently by wearing down facebook. i was jobless 2 years earlier , however now i have a really extraordinary occupation with which i make my own specific pay and that is adequate for me to meet my expences. I am really appreciative to God and my director. In case you have to make your life straightforward with this pay like me , you just mark on facebook and Click on big button thank you?

    c?h?e?c?k t?h?i?s l?i?n-k >>>>>>>>>> http://www.Geosalary.com

  4. I am getting $100 to $130 consistently by wearing down facebook. i was jobless 2 years earlier , however now i have a really extraordinary occupation with which i make my own specific pay and that is adequate for me to meet my expences. I am really appreciative to God and my director. In case you have to make your life straightforward with this pay like me , you just mark on facebook and Click on big button thank you?

    c?h?e?c?k t?h?i?s l?i?n-k >>>>>>>>>> http://www.Geosalary.com

Please to post comments