In this episode of Freakonomics Radio, we delve into the different paths taken by Macy's, a struggling retail giant, and a small-town bookstore. Under the leadership of new CEO Tony Spring, Macy's is trying to turn things around by streamlining operations, enhancing its product offerings, and capitalizing on its famous Thanksgiving Day Parade. On the other hand, Jeff Kinney, the creator of "Diary of a Wimpy Kid," is pouring resources into revitalizing his town's downtown, including a bookstore that, while not profitable, has become a beloved hub for authors and locals. This episode highlights the stark contrast between the challenges faced by large corporations in their revitalization efforts and the promising potential of community-driven initiatives, even if they aren't primarily focused on profit.
