Freakonomics Radio Joins Forces With Keeneland For Thought-Provoking Podcasts

[Wandering Eyes]

The Freakonomics Radio podcast has released a new three-episode series, “The Horse Is Us,” which includes coverage of the Keeneland September Sale and several other important industry issues.

“Their team was fantastic to work with and spent several days interviewing several industry professionals and Keeneland team members on our grounds,” said Keeneland Communications Manager Meredith Daugherty.

The first episode is not necessarily Keeneland-centric. It is entitled “The Ultimate Dance Partner.” “For most of human history, horsepower made the world go,” the introduction reads. “Then came the machines. So why are there still seven million horses in America?”

Episode One is about horses and their changing role in human society. It explores several pertinent questions, particularly how, after cars became prevalent, did horses continue to be a major part of society, whether as racehorses or otherwise. It also looks into the economic and cultural reasons why horses remain relevant today when they just as easily could have disappeared after the industrial revolution and machines and automobiles took over.

The second episode is entitled “Inside the Horse-Industrial Complex.” It looks at Kentucky's dominance in the thoroughbred industry, how it maintains its position and how, even with racing declining in other areas, people will still pay millions to try to breed or buy the next champion. It notes that a $200,000 stud fee is no longer considered all that exorbitant.

The mental and physical demands that are placed on jockeys has been an important topic in racing lately, particularly with the recent suicides of two jockeys. The episode looks at the many demands of being a jockey, particularly the mental struggles some experience.

It continues with interviews from the major players in the industry, including jockeys and the heads of major breeding farms.

The goal is to use economic principles to figure out why this one side of horse racing , breeding and the sales markets, have prospered beyond all expectations.

Episode Three, “Does Horse Racing Have a Future?” is definitely something that will make you think about where this industry is headed.

The episode explores this central question by looking at a paradox in the industry.

It looks at the reasons to be optimistic about the sport's future, namely that thoroughbred auction prices, particularly for elite bloodlines, keep setting record highs, indicating that people are still willing to pay huge prices for what is, essentially, a luxury item.

It also looks at the many problems and challenges, that tracks are closing down, that betting handle keep falling year after year and that horse racing has become overly reliant on subsidies from slot machines and casinos.

The host, Stephen Dubner, investigates the world of the thoroughbred auctions, specifically the Keeneland September Yearling Sale. But he digs further, asking breeders, economists, and gamblers their opinions on whether or not sport so dependent on subsidies can survive in the long run?

To watch or listen to this podcast on YouTube, click here: Episode 653. Episode 652.

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