The Freakonomics Radio podcast has released a three-episode series titled “The Horse Is Us,” which delves into the evolving role of horses in society, the economics of the thoroughbred industry, and the future of horse racing. The first episode, “The Ultimate Dance Partner,” explores why horses remain relevant in America despite the rise of machines and automobiles, examining their cultural and economic significance. The second episode, “Inside the Horse-Industrial Complex,” focuses on Kentucky’s dominance in thoroughbred breeding and racing, highlighting the high stakes involved and the mental and physical challenges faced by jockeys.

The final episode, “Does Horse Racing Have a Future?” addresses the paradox of the industry’s current state—while elite thoroughbred auction prices continue to soar, signaling strong demand, the sport faces significant challenges such as declining race attendance, falling betting revenues, and heavy reliance on casino subsidies. Host Stephen Dubner investigates these issues through interviews with breeders, economists, and gamblers, questioning whether horse racing can sustain itself long-term. The series includes coverage of the Keeneland September Sale and offers a comprehensive look at the complexities and uncertainties facing the horse racing world today.