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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 Friday.

One speechmaker inspired millions with his words, the other utterly destroyed his own multi-million-dollar business with just a few phrases.Civil rights icon Martin Luther King Jr (played by Jeffrey Wright of Westworld, The Hunger Games, and the James Bond films) and jewelry store owner Gerald Ratner offer starkly contrasting stories on when you should stick to the script and when you should take a risk.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.

We're no stranger to stories about misinformation or deliberate disinformation. We live in a world where now more than ever, you have to be skeptical. That skepticism can be healthy, but it also can be used to cast more doubt and misinformation on data and statistics that are very real. Tim Harford talks to Niala Boodhoo, from the news podcast Axios Today, about why people believe things that aren't true.Check out Axios Today, where Niala delivers the news every weekday - in just 10 minutes.Subscribe to Axios Today wherever you get your podcasts. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Cautionary Tales' host Tim Harford has a new book - The Data Detective - setting out ten commandments for understanding the numbers, charts, graphs and statistics that bombard us every day. In this free extract, Tim explains his extra "golden" rule that allows us to observe all his other commandments - be curious. Enjoy.Cautionary Tales returns February 26.The Data Detective (Riverhead Books) is published in the US and Canada on February 2. The same book is available elsewhere under the title How to Make the World Add Up.(Audio excerpted courtesy of Penguin Random House Audio from The Data Detective by Tim Harford, narrated by the author.) Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

It's easy to mock statistics or cast doubt on them... but we do so at our peril. Undermining our trust in facts and figures can cause great harm, and even death. We should guard against it.Tim Harford looks at how the seeds of doubt are planted in this mini-episode of Cautionary Tales to celebrate the release of his latest book.“How To Make The World Add Up” is out now in much of the world, while listeners in US/Canada can pre-order it under the title "The Data Detective" - ahead of its release in early 2021. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

The eradication of smallpox is one of humanity's great achievements - but the battle against the virus was fought by the most unlikely of alliances. How did the breakthrough happen - and can we guarantee that the world is still safe from smallpox?This episode owes a debt to Stephen Coss’s book The Fever of 1721, Ibram X. Kendi’s book Stamped From the Beginning, and to an article about Dark Winter written by Tara O’Toole, Michael Mair and Tomas Inglesby.For a full list of our sources please see the shownotes at http://timharford.com/Tim's latest books 'Fifty Inventions That Shaped The Modern Economy' and 'The Next Fifty Things That Made The Modern Economy' are available now. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

For years, people had warned that New Orleans was vulnerable - but when a hurricane came close to destroying the city, the reaction was muted. Some people took the near miss as a warning - others, as confirmation that there was nothing to worry about.So why do we struggle to prepare for disasters? And why don't we draw the obvious lessons from clear warnings?Sources for this episode include Amanda Ripley's The Unthinkable, The Ostrich Paradox by Howard Kunreuther and Robert Meyer, Margaret Heffernan's Willful Blindness, and Predictable Surprises by Max Bazerman and Michael Watkins. For a full list of sources see http://timharford.com/Tim's latest books 'Fifty Inventions That Shaped The Modern Economy' and 'The Next Fifty Things That Made The Modern Economy' are available now. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

It looked like any ordinary roll of cloth, but it brought the dreaded plague to the village of Eyam. First it killed the tailor, then resident after resident succumbed. To stop the spread of the disease to neighbouring towns the people of Eyam agreed to isolate themselves and let the plague run its deadly course. This terrible act of sacrifice is still remembered centuries later - but what does it tell us about how far people will go to save the lives of strangers?Read more about Tim's work at http://timharford.com/Tim's latest books 'Fifty Inventions That Shaped The Modern Economy' and 'The Next Fifty Things That Made The Modern Economy' are available now. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Clive had a deadly form of cancer, but fortunately there was a new drug to treat it. Imagine his anger when he was told the treatment was too expensive. He’d entered a world where unique human lives are given a value in a mathematical formula. So how much should we spend to extend or save a life? And are some lives worth more than others?Read more about Tim's work at http://timharford.com/Tim's latest books 'Fifty Inventions That Shaped The Modern Economy' and 'The Next Fifty Things That Made The Modern Economy' are available now. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

A monstrous wave and then a nuclear disaster forced Mikio and Hamako Watanabe from their home. But being saved from the potential dangers of a radiation leak destroyed their lives in a different way. Why do we overlook the fact that taking action against an urgent danger can also cause longer term ills?WARNING: This episode discusses death by suicide. If you are suffering emotional distress or having suicidal thoughts, support is available - for example, from the National Suicide Prevention Lifeline.Read more about Tim's work at http://timharford.com/Tim's latest books 'Fifty Inventions That Shaped The Modern Economy' and 'The Next Fifty Things That Made The Modern Economy' are available now. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Flames are spreading through a Cincinnati hotel. The staff know it, the fire department is coming, and the people in the packed cabaret bar have been told to evacuate… and yet they hesitate to leave. Why don’t we react to some warnings until it’s too late?Read more about Tim's work at http://timharford.com/Tim's latest books 'Fifty Inventions That Shaped The Modern Economy' and 'The Next Fifty Things That Made The Modern Economy' are available now. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.