The Indicator from Planet Money

By now, you've probably heard a lot from both presidential nominees about getting rid of taxes on tips.

The idea may sound good on first go, but it has its detractors, namely economists and tax experts. Their fears include unfairness and people gaming the system.

On today's episode, how to put in place guardrails for a policy that many economists believe is likely to go off the rails.

Related episode:
Why Americans Can't Quit Tipping

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Unlimited paid time off may sound like a nice perk, but it's not always what it appears. Employers aren't typically obligated to pay out unused vacation balances when a worker leaves, and it can be hard for workers to understand just how much time they can actually take off.

And yet ... endless leave?? It doesn't sound so bad.

Today on the show, is unlimited paid time off really a benefit? We try to figure out whether it works.

Related episodes:
Vacation, and why the U.S. takes so little of it (Apple / Spotify)
The 28-Hour Work Week

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It's ... Indicators of the Week! We cover the numbers in the news that you should know about. This week, we cover mortgage applications increasing, China's home prices decreasing, and Carrie Bradshaw ... Indices-ing?

Related Episodes:
When mortgage rates are too low to give up
Are both rents AND interest rates too dang high?
The highs and lows of US rents
The mess at the heart of China's economy

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Some bank customers are jumping to high-yield savings accounts to escape the shockingly low interest rates of personal savings accounts at big banks. So why aren't these banks raising their rates to attract more customers? Today on the show, we explore why big banks may not care about your savings account anymore.

Related episodes:
The dangers of money market funds (Apple / Spotify)
Interest rates up, but not on your savings account (Apple / Spotify)
Bad Form, Wells Fargo

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Former President Donald Trump recently suggested that if elected in this year's presidential election he would want more say on decisions made by the Federal Reserve. Presidents taking a more active role in monetary policy would mark an extraordinary shift in U.S. economic institutions, and mark the end of central bank independence.

Today on the show, why the Federal Reserve insulates itself from day-to-day politics, and what it looks like when central banks are influenced by politicians.

Related Episodes:
Happy Fed Independence Day (Update)
Arthur Burns: shorthand for Fed failure?
How the Fed got so powerful

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Homelessness is a pervasive issue that cities across the country struggle to address. This led an entrepreneur to team up with researchers and local foundations for an experiment called the Denver Basic Income Project. The goal was to see how different variations of a basic income program would impact the local homeless population. What the researchers found could become a guide for how localities in the United States could address the problem of homelessness.

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It's that time of year when we want to lie on a beach and lose ourselves in a good book. Today on the show, three summer reading recs that got our hosts thinking about economics. Remember, anything read on the beach is, in fact, a "beach read."

Books recommended in this episode:
• Exit West by Mohsin Hamid (B&N, Bookshop)
• Everything Is Predictable: How Bayesian Statistics Explain Our World by Tom Chivers (B&N, Bookshop)
• Range: Why Generalist Triumph in a Specialized World by David Epstein (B&N, Bookshop)

Related episodes:
How Asimov's 'Foundation' has inspired economists (Apple / Spotify)
The carbon coin: A novel idea
Beach reads for econ nerds

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Indicators of the Week is a show dedicated to highlighting some of the most interesting numbers in the news. Today, we break down our favorite indicators in Google's antitrust defeat, the currency trade in Japan that jolted global markets and another way of creating an Olympic medal tally.

Related episodes:
Is Google search getting worse? (Apple / Spotify)
Why the Olympics cost so much (Apple / Spotify)

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The International Olympic Committee has developed a reputation over the years for stringently enforcing its trademarks during the summer games. It has good reason to, with brands like Coca-Cola and Visa paying top dollar for exclusive sponsorship rights. Today on the show, the lengths the IOC will go to protect its trademarks and how smaller brands try to avoid their dragnet.

Related episodes:
Why the Olympics cost so much (Apple / Spotify)
Peacock, potassium and other Paris Olympics Indicators (Apple / Spotify)

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Globalization, as we once knew it, is dead ... well, that's according to the UK's new Chancellor of the Exchequer, Rachel Reeves.

Chancellor Reeves has run the UK Treasury since July 2024. She's facing an economic backdrop familiar to many countries: hollowed-out industrial towns; climate change; global wars and conflicts.

Today on the show: Our conversation with Chancellor Reeves on her visit this week to the US. What she thinks went wrong with globalization, and the new economic map she's coursing.

Related Episodes:
From Brexit to Regrexit

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The U.S. wants to become a net-zero emissions economy by 2050. That will mean a lot of new generation from renewable energy. It also means more transmission networks are needed to bring it onto the grid.

But there's a debate over how that new transmission should be built — between a competitive or monopoly approach. Today, we look at why competition is so divisive and why each side thinks they should build the next generation of transmission infrastructure.

Related Listening:
Texas' new power grid problem (Apple / Spotify)
Green energy gridlock (Apple / Spotify)

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It's been a turbulent couple of days for financial markets around the world. Japan's biggest stock market saw its worst day in decades. Corporate earnings disappointed investors. And last week's jobs report here in the US showed disappointing numbers. Is this a sign of a recession or just some temporary turbulence? Today, we speak with two economic analysts to make sense of what's really going on.

Related:
Matt Klein's newsletter "The Overshoot"
Why are we so bummed about the economy? (Apple / Spotify)
The Sahm Rule With The Eponymous Economist

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Jobs numbers came out today and they weren't great: Unemployment hit 4.3% and only 114,000 jobs were added to the economy in July. The U.S. economy's downshifting gears ... but there are bright spots.

Care jobs grew. Like social assistance: 9,000 new jobs in July.

Social work organizations have been calling out for more men in particular ... and with unemployment rising for men, a lot of them want jobs. So why aren't they meeting?

Today on the show: Getting more men into so-called pink-collar jobs. We learn about an experiment that showed a surprising way to encourage men into industries traditionally represented by women.

Related Episodes:
Wanted: Social workers
Ghost jobs

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The modern Olympic Games are notorious for saddling host cities with burdensome cost overruns into the billions. Organizers for the Paris 2024 Olympics were aware of this and planned to put on one of the most cost-effective Olympics in recent memory. They still went over budget.

Today on the show, why the Olympics almost always costs host cities much more than they anticipate and what we can learn from the Olympic Games' original economic sin.

Related episodes:
Peacock, potassium and other Paris Olympics Indicators (Apple / Spotify)
Why California's high speed rail was always going to blow out (Apple / Spotify)

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The Federal Reserve has once again opted to leave interest rates unchanged. That appears to be creating a big challenge to one part of the economy: housing prices. Today, we look at how elevated interest rates may actually be keeping home prices and rent high. Plus, we see how one community is taking the issue of housing affordability into its own hands.

Read the research paper co-authored by Julia Fonseca, Lu Liu, and Pierre Mabille.

Related episodes:
When mortgage rates are too low to give up (Apple / Spotify)
The housing shakeup (Apple / Spotify)
The highs and lows of US rent (Apple / Spotify)

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It's time for The Indicator Quiz!

We test you, dear listener, on your knowledge of topics that we've covered on The Indicator!

Today's quiz focuses on our June episodes, in which we covered a lot of... well, a little bit of everything! NVIDIA, ChatGPT, and...Peppa Pig?

Play along with us and see how you do!

Are you interested in being a contestant on our next Indicator Quiz? Email us your name and phone number at [email protected] and put "Indicator Quiz" in the subject line.

Related Episodes:
Spud Spat
The tower of NVIDIA
Indicators of the Week: Debate Edition

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The childcare industry has been having a tough go of it. It's already expensive; pandemic-era programs have ended; plus there are too few providers. Enter a new challenge: increasing liability insurance premiums. Today, we look at why these premiums are rising for childcare providers, and how they're impacting both businesses and consumers.

Related episodes:
Baby's first market failure (Apple / Spotify)
When Uncle Sam stops paying the childcare bill (Apple / Spotify)

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Indicators of the Week is BACK, and this time, we're going for the gold! (...In educating our listeners on the economics and business stories behind the Olympics.)

In this Olympics-themed episode, we'll learn what economic factors help countries win more medals, how NBCUniversal is betting on these games to support its streaming service, and what it takes to feed 15,000 hungry athletes. (Hint: A LOT of potassium. And pain au chocolat. And baguettes.)

Related Episode:
Why Host The Olympics?

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Are the promises made by AI boosters mostly hype, or are we actually underappreciating the transformative potential of AI?

This week, The Indicator hosts a two-part debate on the hype around generative AI. Today, the second episode: Despite the tech world's love affair with the technology, is AI overrated?

Related episodes:
Is AI underrated? (Apple / Spotify)

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Are the promises made by AI boosters all hype, or are we actually underappreciating the transformative potential of AI?

This week, The Indicator hosts a two-part debate on the hype around generative AI. Today, the first episode: Despite all the news coverage and money, is AI underrated?

Guest Tyler Cowen's book that he published as an AI chatbot is GOAT: Who is the Greatest Economist of all Time and Why Does it Matter? and his interview with an AI Jonathan Swift is on his podcast, Conversations With Tyler.

Related episodes:
Is AI overrated? (Apple / Spotify)

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Even before the Dune: Part 2 popcorn bucket went viral this year, movie theaters have been trying all types of ways to lure customers back. There's reclining seats, expanded menu options and even more merchandise. Today on the show, we track the rise of the popcorn bucket and its afterlife on eBay.

Related episodes:
Coyote vs. Warner Brothers Discovery (Apple / Spotify)
​​Why platforms like HBO Max are removing streaming TV shows (Apple / Spotify)

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You may have heard some big news this past weekend: Joe Biden dropped out of the presidential election. This leaves Kamala Harris as the favorite to be the Democratic nominee.

On today's show, We imagine what can be, and we're unburdened by what has been: Kamala Harris' economics, delegate math in deciding the nominee and ... can Kamala Harris use Joe Biden's campaign money?

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It's Indicators of the Week! We cover the numbers in the news that you should know about. This week, we cover climbing corporate bankruptcies, J.D. Vance's potential to bring the dollar down, and the NBA's new super serious salary cap.

Related episodes:
The Science of Hoops
Why Ecuador Uses The Dollar?

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The Supreme Court's decision to quash Chevron deference means countless agency regulations are now more vulnerable to being challenged and struck down. Think the Environmental Protection Agency's plan to boost electric vehicle sales, discrimination protections against transgender people, and rules that expand eligibility for overtime.

Yesterday, we explained the history that led to this moment. Today, we look at the how the decision will play into a wave of regulatory lawsuits.

Related episodes:
The conservative roots behind the Chevron doctrine (Apple / Spotify)
Could SCOTUS outlaw wealth taxes (Apple / Spotify)

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When the Supreme Court decided Chevron U.S.A., Inc v. Natural Resources Defense Council, Inc. 40 years ago, it didn't turn many heads. But eventually, it became the most widely cited case in all of administrative law. It set a legal precedent to give federal agencies the benefit of the doubt when the law is ambiguous, known as Chevron deference.

Now, a recent Supreme Court decision has set in motion another tectonic shift, effectively ending that precedent. Today, we dig into what Chevron deference is and how it actually came about. Then tomorrow we'll continue our focus on this significant change by looking at the potential fallout.

Related episodes:
A Supreme Court case that could reshape social media (Apple / Spotify)
Could SCOTUS outlaw wealth taxes (Apple / Spotify)

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The Digital Markets Act is a new piece of European legislation aimed at making markets in the digital sector "fairer and more contestable." It's essentially antitrust regulation—rules to ensure that no one company or group of companies makes an area of business uncompetitive. And these rules are making some big companies sweat, not because they're afraid of monetary penalties, but because they could have an effect on antitrust regulations around the world.

Today on the show, we examine the differences between how the EU and the United States handle antitrust and what the Digital Markets Act could mean for big tech's regulatory future.

Related episodes:
EU leads the way on controlling big tech

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If you regularly listen to The Indicator, you know China's economy is not doing great. Over the last few years, indicators like unemployment and local debt are up, and consumption and property sales are down.

There is one big indicator that's been a bellwether for China's economy ... booze. One specific kind: Baijiu.

In today's episode, a quick history on baijiu and how the liquor is a potent symbol for consumer confidence in China.

Related Episodes:
China's weakening economy in two Indicators
The Beigie Awards: China Edition

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On Indicators of the Week, we cover the numbers in the news that you should know about. This week, we cover an encouraging trend for global wealth, closing Mexico's tariff loophole and the European nation bucking the trend of shorter work weeks.

Related episodes:
Why tariffs are SO back (Apple / Spotify)

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There are currently just under 65,000 migrants in New York City's shelter system, stretching the city's outworn social service systems. Today on the show, we follow one asylum seeker's journey from Venezuela to New York and explore why the process is lengthy and complicated.

Related episodes:
Is the 'border crisis' actually a labor market crisis? (Apple / Spotify)
'Welcome to the USA! Now get to work.' (Apple / Spotify)
The migrant match game (Apple / Spotify)

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Voters have a bleak outlook on the economy right now, and many are pointing the finger at President Biden. At the same time, many voters have a rosy view of the economy when Donald Trump was president. But how much credit or blame should a president get for the economy? And how do partisan politics play into our perception of the economy's performance?

Related episodes:
Common economic myths, debunked (Apple / Spotify)
Not too hot, not too cold: A 'Goldilocks' jobs report (Apple / Spotify)

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Children of U.S. military families, a.k.a. brats, are known for their adaptability when relocating to new neighborhoods and schools every few years. This migratory population became the basis for brand new research on how the neighborhood you grew up in affects your economic success later in life. Today on the show, how a place influences your financial destiny.

Related episodes:
Chasing the American Dream at Outback Steakhouse (Apple / Spotify)
The secret to upward mobility: Friends

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Back in 2021, the meme stock frenzy was at its peak: Roaring Kitty AKA Keith Gill, and young day traders gleefully upended financial markets. Roaring Kitty disappeared for a bit before returning just a couple months ago.

His disciples that followed him into the markets, however, never left. That's according to Nathaniel Popper in his new book, The Trolls of Wall Street: How the Outcasts and Insurgents are Hacking the Markets.

Today on the show, why Nathaniel believes these day traders are here to stay and where they're putting their money now.

Related Episodes:
GameStop and the Short Squeeze
The tower of Nvidia

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U.S. job growth cooled this month. But one job is hot to the touch: AI prompt engineer. The role can command a six figure salary, but ... what is it? Today, we speak to an AI prompt engineer to figure out what they actually do and how long the job could remain hot.

Related:
AI creates, transforms and destroys ... jobs (Apple / Spotify)
If AI is so good, why are there still so many jobs for translators?
Applying for a job? Make sure your resume is AI-Friendly (Apple / Spotify)

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Last week, Vladimir Putin vowed to make new nuclear weapons and consider placing them close to NATO countries. Meanwhile, here in the US, the government boosted its nuclear weapon spending by 18% between 2022 and 2023.

The world is closer to nuclear war than it's been in at least forty years.

Today on the show: The game theory of nuclear war. When can mathematical models help us, and when can they lead us astray ... even to the brink of destruction?

Guest Kelly Clancy's book is Playing With Reality: How Games Have Shaped Our World.

Related Episodes:
How to get Russia to pay Ukraine
Congressional game theory

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Europe is expecting a wave of victories from far-right candidates in upcoming national elections. Voters are showing they're worried about income inequality, immigration and the effects of participating in a global economy. Today, we take a look at what the swing to the right means for Europe's economy and the European stance on globalization.

Related Episodes:
Can Europe fund its defense ambitions (Apple / Spotify)
Why the EU is investigating China's wind turbines (Apple / Spotify)
How vikings launched globalization 1.0

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It's been two years since the U.S. Supreme Court overturned the right to an abortion, triggering a parade of restrictions and bans in conservative-led states. Today on the show, how the medical labor force is changing post-Roe and why graduating medical students, from OB-GYNs to pediatricians, are avoiding training in states with abortion bans.

Related listening:
What's the cure for America's doctor shortage?
KFF: Medical Residents Are Increasingly Avoiding Abortion Ban States

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Indicators of the Week is BACK! This week we're doing something just a little bit different. You see, it's the same 'ol Indicators of the Week you're used to, but as a nod to last night's presidential debate, this time, it's debate style.

On today's episode, your candidates argue over who has the best Indicator of the Week: the links discovered between health care prices and layoffs, stress-tested banks, and ... cow burps?

Related Episodes:
Time to make banks more stressed?
The Cows Are Taking All The Land

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For years, rich nations have sent money to lower-income countries to help deal with the impacts of climate change. But it turns out, these wealthy nations are finding creative ways to funnel some of that financing back into their own economies. Today, we look at how the climate crisis is reviving a debate over how money should flow from rich to less-rich nations.

Related:
A program meant to help developing nations fight climate change is funneling billions of dollars back to rich countries
A countdown to climate action (Apple / Spotify)
Gambling, literally, on climate change (Apple / Spotify)
Blue bonds: A market solution to the climate crisis? (Apple / Spotify)
Why a debt tsunami is coming for the global economy (Apple / Spotify)

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The last major overhaul of the tax code was in 2017, when Republicans passed the Tax Cuts and Jobs Act. Much of that is set to expire next year, and that means a big debate over tax policy is looming.

Voters this fall won't just be voting for a president—they'll essentially decide who pays for the government and how much for years to come.

Today on the show, we explain the battle lines forming in this tax code throwdown.

Related Episodes:
The Good, The Bad and The Tax Cuts
Happy Birthday, Tax Cuts!

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A few years ago, bike enthusiast Bryan Hance got a tip. A whole bunch of expensive bikes that were stolen in the Bay Area had suddenly turned up ... for sale on a Facebook page in Mexico. The revelation started Bryan down a years-long investigation where he would uncover an intricate, large-scale criminal operation out of Jalisco, Mexico.

In today's episode, we talk to freelance reporter Christopher Solomon who wrote about Hance's journey in WIRED Magazine.

Related episodes:
Is retail theft getting worse? (Apple / Spotify)
The economics of stealing bikes

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For a moment last week, semiconductor chip designer NVIDIA eclipsed Microsoft to become the world's most valuable company. How did it get there?

Today on the show, David Rosenthal, one half of the tech podcast Acquired, explains how NVIDIA's founder Jensen Huang laid the groundwork for the company's meteoric rise, and why there may be obstacles ahead.

Related episodes:
The life and death spirals of social media networks (Apple / Spotify)
The semiconductor founding father

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Indicators of the Week are back! We are here, as always, to bring you the most fascinating snapshots from the week of economic news.

On today's show, we're digging into the embattled aerospace company, Boeing. We look at how paying your rent with a Wells Fargo credit card is costing the bank millions of dollars a month. And we learn how much richer the Planet Money coffers are after we invested in the funds that track stock trading by congresspeople and their families on both sides of the aisle.

Related Episodes:
Invest like a Congress member
Help Wanted at Boeing

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When Diane Lewis' son, Jovaan, was sentenced to prison, she told him to call her every day. What he didn't know at the time is that those collect calls often meant Diane was unable to pay her other bills. Today on the show, how prison phone calls got so expensive, and the movement to make them free.

Related listening:
The Uncounted Workforce
From Prison to the Workforce
The Prisoner's Solution

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There are some new funds that track stock trading by members of Congress and their family. So we thought, why don't we get in on that? Today on the show, we crack open the Planet Money Investment Jar to learn more about how our political leaders play the market, investing in funds tracking Democratic and Republican stock trades.

Whether Congressional stock trading should be limited is a hotly debated matter. So to test whether lawmakers are beating the market, Dartmouth College economist Bruce Sacerdote and his co-authors pitted lawmakers' stock picks against reindeer at a Christmas-styled theme park.

Trust us for this ride! It'll all make sense with some intriguing results.

Related listening:
Stock traders are trying to beat the market — by copying lawmakers
WTF is a Bitcoin ETF? (Apple / Spotify)
Planet Money's Toxic Asset
Planet Money Summer School: Investing

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The federal government classifies potatoes (whether they be baked, waffled, curly, fried) as a vegetable.

Recently some nutritional scientists were questioning that logic as the feds updated their dietary guidelines for 2025.

On today's episode, why potatoes have such sway on Capitol Hill and the real financial stakes spuds have in staying a veggie.

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Indicators of the Week is back! This week, we've got indicators about oil gluts, big bucks for Ukraine and fewer bucks at Starbucks. (Apologies for the slurping.)

Related episodes:
How to get Russia to pay Ukraine
An oil boom, a property slump and dental deflation

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There are many anecdotal complaints about Google search not being what it used to be. A German computer scientist and his colleagues put this theory to the test recently focusing on product reviews. Today on the show, we bring their findings to Google's chief search scientist.

Related episodes:
How Fortnite brought Google to its knees (Apple / Spotify)
Microsoft vs. Google: Whose AI Is better? (Apple / Spotify)

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The Federal Reserve introduced a visual tool called the "dot plot" in 2012 to communicate where officials think interest rates should be in the coming years. The dot plot is eagerly dissected by Fed watchers looking for insight on future policy, but others think that the dot plot has become a visual example of just how little the Fed can predict where the economy is going.

Today on the show, we decode the dot plot and hear why some think that the Federal Reserve's artistic exercise should be scrapped altogether.

The Federal Reserve's latest dot plot (page 4)

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Politicians on both sides of the aisle call the surge at the US Southern Border a "border crisis."

One camp says we need to focus on addressing the conditions in other countries that cause people to leave. The other says we have to focus on deterrence and enforcement.

But...what if both camps are actually ignoring a major piece of the picture? Today on the show, an overlooked cause and potential solution to the situation at our southern border that has nothing to do with the border at all.

Related episodes:
Why Venezuela is no longer in freefall
Welcome to the USA! Now get to work.

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We are back to answer your questions that you, our listeners, have been sending. On today's show, is chicken actually getting cheaper? Why doesn't the Federal Reserve use different interest rates around the country? And: is election spending an indicator of economic health?

If you have a question you'd like us to answer, email us at [email protected].

Related episodes:
Can an old law bring down grocery prices? (Apple / Spotify)
How political campaigns raise millions through unwitting donors
How mortgage rates get made
The rat under the Feds hat (Apple / Spotify)
The interest-ing world of interest rates (Apple / Spotify)

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Today's jobs report shows a slight rise in unemployment to 4%. And some frustrated job seekers are growing tired of applying for job after job with no replies, sometimes asking whether the listings are even real. And this isn't just vexing for applicants. It's also haunting economists when trying to figure out how much slack there is in the labor market, and whether interest rates should be raised or lowered. Today on the show: the rise of ghost jobs. Where they're happening and why.

Related episodes:
Not too hot, not too cold: a 'Goldilocks' jobs report
The Beigie Awards: From Ghosting to Coasting

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99.5 percent of megaprojects are either over time, over budget or have lower benefits than expected. What's going wrong? Today, we look at case studies from California's high speed rail project to the Sydney Opera House to consider the do's and don'ts of ambitious projects.

Bent Flyvbjerg and Dan Gardner's book on megaprojects is How Big Things Get Done: The Surprising Factors that Determine the Fate of Every Project, from Home Renovations to Space Exploration and Everything In Between.

Related episodes:
Why building public transit in the US costs so much (Apple / Spotify)
Planes, trains and bad bridges (Apple / Spotify)

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The United States has been a supporter of Israel since the nation's establishment in 1948. With the civilian death toll rising in the Israel-Hamas war, growing scrutiny is mounting over just how much the U.S. should support Israel's military. Today, a historical explanation for why the United States tied itself so closely to support for Israel.

Related episodes:
Protesters want schools to divest from Israel. How would that work? (Apple / Spotify)

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Maybe you've heard these things on social media, in the news, and take them as fact: More than half of the adults in the US live paycheck to paycheck, the trade deficit is always bad, and making the super wealthy pay their fair share will fix everything.
Well, the truth isn't so simple. Today on the show: economic mythbusting. We take three factoids about the American economy and run them through the fact checkers.
Related episodes:
Is the federal debt REALLY that bad? (Apple/Spotify)
Is the financial media making us miserable about the economy? (Apple/Spotify)
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MERCH! You asked for it. We got it. After rebranding our podcast earlier this year, we decided it was time to create our own merch. On today's show, a brief oral history of early merch, how to score an Indicator t-shirt, and the winning name of our new mascot.

• Preorder the t-shirt now at shopnpr.org/indicator
• Sign up for Planet Money+ to access more Indicator merch

Related episodes:
Name our mascot. No, really (Apple / Spotify)
Planet Money Makes a T-shirt

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Indicators of the Week is back, where we dig into three economic snapshots from the global economy. This week, we are exploring consumers' ever so slightly improved perception of the economy, what's going on with carbon offsets, and why China is sending some pandas to U.S. zoos.

Related Episodes:
Actors back. Pandas gone. WeBankrupt. (Apple / Spotify)
How Red Lobster got cooked and other indicators (Apple / Spotify)
Emission Impossible (Apple / Spotify)

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It's time for The Indicator Quiz!

We test you, dear listener, on your knowledge of topics that we've covered on The Indicator!

Today's quiz focuses on ch-ch-changes. (That's a David Bowie reference, kids!) We're covering changes in the economy, the environment, the rental market, you get the picture. We're even tossing in a question about an AI-resurrected rapper.

Play along with us and see how you do!

Are you interested in being a contestant on our next Indicator Quiz? Email us your name and phone number at [email protected] and put "Indicator Quiz" in the subject line.

Related Episodes:
Hazard maps: The curse of knowledge
AI Tupac and the murky legality of digital necromancy
The highs and lows of US rents

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Eight times a year, we award regional Federal Reserve Banks with our coveted Beigie Award. While the anecdotes within the Beige Book offer us fascinating looks into the economy, to others, it can be difficult to make anything of the stories they tell. That's why we're giving out a special Beigie award today to some economists who found a way to use anecdotes to peer into our economic future.

Regional Economic Sentiment: Constructing Quantitative Estimates from the Beige Book and Testing Their Ability to Forecast Recessions

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Dental therapists have been practicing in other parts of the world for decades, but in the U.S. they are relatively few and far between. Like a hygienist, dental therapists can do cleanings as well as some procedures usually reserved for dentists, like simple extractions. They could also be the solution to getting underserved, rural communities better oral care. Today on the show, new momentum for dental therapy and why the American Dental Association is pushing back.

Related episodes:
The value of good teeth

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Indicators of the Week is back! On today's episode, we discuss Red Lobster's bankruptcy, the rancid vibes of the U.S. economy, and a surprising shift in vices among Americans.

Related episodes:
Endless shrimp and other indicators (Apple / Spotify)
Is the financial media making us miserable about the economy? (Apple / Spotify)

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Last week, President Biden placed tariffs on a slew of Chinese goods. When Donald Trump was president, he did the same. Regardless of who wins the election, the US is gearing up for heavy tariffs on imports in 2024. But this is far from the first time the economic tool has been in style.

Today, a brief history of US tariffs: how they came into fashion, fell out of fashion, are now back again and why economists aren't too happy about it.

Related Episodes:
Trade wars and talent shortages (Apple / Spotify)
The surprising leader in EVs (Apple / Spotify)
A brief history of tariffs
Worst. Tariffs. Ever.

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In August 2020, Epic Games launched a legal assault against both Google and Apple, alleging that their mobile app stores are illegal monopolies. Almost four years later, Epic could be close to forcing Google to make major changes to its Play Store.

Today, we explain the legal battle behind Epic v. Google and why the outcome could have major implications for where consumers get their apps and how they pay for them.

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With a few clicks of AI software, anyone can conjure the voice or visual likeness of a dead celebrity — or really anyone. This new world has opened up a bunch of new legal questions about the rights of people and their heirs to control digital replicas of themselves. Today on the show, how a Drake diss track featuring the voice of Tupac made it into the Congressional record, and how it may lead to more regulation of AI.

To read more of Greg Rosalsky's reporting, subscribe to Planet Money's newsletter.

Related episodes:
AI creates, transforms and destroys ... jobs (Apple / Spotify)
Are the Products in your shopping cart real? (Apple / Spotify)
Planet Money makes an episode using AI

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Homes are not just where we eat and sleep, but one of the primary ways people build generational wealth in the U.S. But with home shortages and harsh climates, rural America's path to building that wealth looks a little different than other parts of the country. Today on the show, we focus in on housing challenges in Alabama's Black Belt and one innovative solution to preserving generational wealth.

Related:
There is growing segregation in millennial wealth

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Indicators of the Week is back. This time, an in-depth look at what Biden's massive tariffs on Chinese imports might mean for inflation and jobs. After that, why it may soon become easier to become a certified public accountant, addressing that nagging CPA shortage.

Related Episodes:
If the world had no accountants (Apple / Spotify)
The surprising leader in EVs (Apple / Spotify)
How electric vehicles got their juice (Apple / Spotify)

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For decades, the Dominican Republic's economy has been growing at a remarkably steady pace. The Caribbean nation of 11 million people is today considered a middle-income nation, but the International Monetary Fund projects it could become an advanced economy within the next 40 years.

Today on the show, we uncover the reasons behind the Dominican Republic's economic success and whether or not these benefits are being felt widely in the country.

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The latest inflation numbers are in. This month's Consumer Price Index, or the CPI, is ... well, good and bad news for renters.

Shelter prices went up over the last year, but at a slower pace. Shelter makes up nearly a third of the CPI.

Today's episode: Rent. Where is it high? Where is it low? What exactly is "coffee milk"? The Indicator tours the U.S. to bring you the answers.

Related Episodes:
When mortgage rates are too low to give up
How do you measure inflation?
The lawsuit that could shake up the rental market

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When June Carbone, Naomi Cahn and Nancy Levit set out to write a book about women in the workforce, they initially thought it would be a story all about women's march towards workplace equality. But when they looked at the data, they found something more disturbing: of the ways in which women's push toward workplace equality has actually been stalled for years.

In today's episode, law professor June Carbone argues that the root of the problem lies in something they call the "winner take all" approach to business. That's the thesis of their new book, "Fair Shake: Women & the Fight to Build a Just Economy".

Related episodes:
What would it take to fix retirement? (Apple / Spotify)

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Advancements in cryptocurrency networks are sparking conversations about the potential for Central Bank Digital Currencies, or CBDCs for short. Advocates for CBDCs think they would provide security and unlock more efficient fiscal policy actions. However, opponents believe they would provide a shortcut for government interference and the erosion of privacy.

Today on the show, we'll dive deep into the world of CBDCs and pose the question if countries actually need them at all.

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Indicators of the Week is back! This time, we dig into why gold prices are spiking, why the Biden administration has only spent a small portion of money pledged to infrastructure projects, and what the spurt of streaming consolidations means for you.

Related episodes:
Gold Rush 2.0
The semiconductor shortage (still) (Apple Podcasts / Spotify)
The secret entrance that sidesteps Hollywood picket lines (Apple Podcasts / Spotify)

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According to a government report released this week, Congress has until 2033 to fix Social Security before retirees receive an automatic benefit cut of about 21%. This is a more optimistic estimate from a previous report that stated the Social Security Trust Fund would run dry sooner, but it still paints a grim picture for a program that millions of retirees rely on.

Today, NPR's Chief Economics Correspondent joins the show to explain what exactly lawmakers can do to fix Social Security and why proposed solutions might be easier said than done.

Related episodes:
What would it take to fix retirement? (Apple / Spotify)

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Back in 2019, The Indicator started checking in on with a Venezuelan economist Gabriela Saade. The economy was in freefall. The country was suffering from hyperinflation and a huge jump in poverty. Today, the U.S. faces a spike in migrants at the U.S.-Mexico border, many from Venezuela. So we check back in with Gabriela. Venezuela is due to go to the polls in July. We ask Gabriela and two other Venezuelans: what are economic conditions like at the moment? How has life changed since the pandemic? Some of the answers surprised us.

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What happens when small town politics collide with the climate crisis? And how do hazard maps—maps that show which homes in your neighborhood are at risk of getting destroyed or damaged by a natural disaster—come into play? On today's episode, how some people—from Indiana to Oregon to Alaska—are facing some very real concerns about insurance and the ability to sell their houses.

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In Western Colorado, towns and farms are banding together to pay a hundred million dollars for water they don't intend to use. Today on the show, how scarcity, climate change and a first-dibs system of water management is forcing towns, farms and rural residents to get spendy.

Related episodes:
A watershed moment in the West? (Apple / Spotify)
The Amazon, the Colorado River and a price on nature
Water in the West: Bankrupt?

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It's Jobs Friday and the jobs report is in! There's more jobs! ... but not as many as expected. And there's a teensy bit more unemployment and slower wage growth. But there's an upside ... Plus, healthcare is growing like gangbusters and how immigrants affect American-born workers.

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College campuses nationwide are erupting with protests against Israel's war on Hamas in Gaza. A consistent theme among these actions: a call for university endowment "divestment."

Today, we unpack what that means and how divestment would work. Plus, we hear from an expert who explains why divestment might not have the effect that many believe.

Related episodes:
Why Israel uses diaspora bonds (Apple / Spotify)
How much of your tax dollars are going to Israel and Ukraine (Apple / Spotify)

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The Beigie Awards are back to recognize the regional Federal Reserve Bank with the best Beige Book entry. This time, we shine a spotlight on one entry that explains how some businesses are feeling the impacts of higher for longer interest rates.

Related episodes:
The interest-ing world of interest rates (Apple / Spotify)
The Beigie Awards: Why banks are going on a "loan diet" (Apple / Spotify)
Where are interest rates going?

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Sandwiched between a burger joint and an oyster bar in New York City hangs a daunting image: The National Debt Clock. And that debt number? It just keeps ticking up. How deep in the hole are we? Nearly a hundred percent of gross domestic product. And counting. Today on the show, the federal debt. Is it time to freak out? Or is there nothing to see here?

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Launches by commercial space companies are becoming more frequent. Last year, the Federal Aviation Administration licensed 117, an all-time high. But these spaceflight companies aren't paying for all of the FAA's services that they use.

Today, we explore why the government is looking to change that and dig into the larger debate over whether human activity in space is a public or private project.

Related episodes:
Economics in space
Planet Money goes to space
Space economics

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We wrap up our series on the economics of the video game industry with a triple roundup. Today, how the new ban on noncompete contracts could affect the gaming industry, whether young men are slacking off work to play games and the ever-controversial world of loot boxes.

Related episodes:
Forever games: the economics of the live service model (Apple / Spotify)
Designing for disability: how video games become more accessible (Apple / Spotify)
The boom and bust of esports (Apple / Spotify)
Work. Crunch. Repeat: Why gaming demands so much of its employees (Apple / Spotify)

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Employees at video game companies are known for working long hours to meet product launch deadlines. This pressure, known in the industry as crunch, has only gotten more intense as games have grown more complex. Mounting layoffs in the growing industry have only made things worse on the labor front, inspiring some workers to take matters into their own hands.

Today, in the next installment of our series on the business of video games, we speak to several workers in the industry about their experiences with crunch and why they feel unionization is the key to preserving their careers.

Related episodes:
Forever games: the economics of the live service model (Apple / Spotify)
Designing for disability: how video games become more accessible (Apple / Spotify)
The boom and bust of esports (Apple / Spotify)

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The origins of competitive gaming are rooted in college campuses going back to the early 1970s. Now a globally popular industry, esports is at the center of many questions about long-term financial viability.

Today, we dive deep into the hype surrounding esports and why the luster seems to be rubbing off the industry that was once seen by some as the next NBA.

Related episodes:
Forever games: the economics of the live service model (Apple / Spotify)
Designing for disability: how video games become more accessible (Apple / Spotify)

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Gaming provides entertainment and community for billions of people worldwide. However, video games haven't always been accessible to those with disabilities. But this is changing.

Today, in the next installment of our series on the business of video games, we explain how accessibility has become an increasingly important priority for game developers and how advocates pushed them to this point.

Related episodes:
Forever games: the economics of the live service model (Apple / Spotify)

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People used to pay one standard price for their favorite games in a one-off transaction. But now, many game companies are offering their games for free, supported by in-game purchases. This is called the live service model.

Today, the first episode of a week-long series about the video game industry. We investigate the promise and pains of the live service model and explain how it turned the industry upside down.

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It's highs and lows in this edition of Indicators of the Week! The surprisingly high amount of electricity needed for artificial intelligence, basketball star Caitlin Clark's surprisingly low base salary, plus a potential crackdown on the ticketing company everyone loves to hate (possibly because of those high fees).

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After the financial crisis of 2008, regulators around the world agreed banks should have more of a cushion to weather hard times. Now, U.S. regulators are once again looking to update minimum capital requirements through a set of proposals called Basel III Endgame. Today, on the show, a blow-by-blow account of this battle between bankers and regulators.

Related episodes:
Time to make banks more stressed? (Apple / Spotify)
SVB, now First Republic: How it all started (Apple / Spotify)

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When an insurance company can't cover all of its claims, it actually has its own insurance. This is called "reinsurance." How does that work and why do reinsurers look at their risk pool differently than say home or auto insurers?

Related episodes:
Why is insurance so expensive right now? And more listener questions (Apple / Spotify)
When insurers can't get insurance (Apple / Spotify)

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Anti-vaccine activists, far-right groups and some religious conservatives convened in Las Vegas this spring to discuss the creation of a parallel economy. These are groups who believe their speech is threatened by big banks and big tech. On today's show, what is a "freedom economy," and how would it work?

Related episodes:
A Supreme Court case that could reshape social media (Apple / Spotify)

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We are back to answer your listener questions. On today's show, we explain reverse mortgages and their risks, why insurance has gotten so expensive, and whether there's a catch to charitable donations at the store.

If you have a question you'd like us to answer, email us at [email protected].

Related episodes:
When insurers can't get insurance (Apple / Spotify)

Are we counting jobs right? We answer your listener questions (Apple / Spotify)

When mortgage rates are too low to give up (Apple / Spotify)

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In this edition of Indicators of the Week: the new incentive for speed in cash prizes for Olympic track and field, growing iPhone assembly in India and the curious inflation puzzle of the foot-long cookies at Subway.

Related episodes:
Can India become the next high-tech hub? (Apple / Spotify)

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With tax season upon us, many people are paying someone or a software to get their tax returns done. A small group of people, however, are filing online directly with ... the IRS. For free. Today on the show: how the IRS's tax filing experiment came to be, how it's been working so far, and who doesn't like it.

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Europe wants clean energy, but it's struggling to compete with the low cost of China's green technology. The E.U. just announced it's investigating the subsidies received by Chinese wind turbine suppliers, which play a part in those low costs.

On today's episode, we speak with Margrethe Vestager, the European Commissioner for Competition, about how the E.U. is trying to build and maintain a competitive green tech industry in the face of low-price Chinese imports. And we ask how the U.S.'s climate industrial policy fits into all this action.

Related Episodes:
The surprising leader in EVs (Apple / Spotify)
Industrial policy, the debate! (Apple / Spotify)
Why offshore wind is facing headwinds (Apple / Spotify)

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You've heard of the British royal family, but what about the "working royals?" Today on the show, an expert on the royals explains what the job is like — how they measure productivity, how they get paid, and how this tiny, specialized workforce of 11 people might cope with the health crises of King Charles III and Kate Middleton.

Subscribe to journalist Elizabeth Holmes' newsletter on the British royal family.

Related episodes:
The U.K.'s most famous family firm in crisis

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General Electric has been staggering along for years as a conglomerate. But recently, it's turned to a popular strategy to unlock new value: spinning off. Just last week, GE spun off its clean energy business into a new company: GE Vernova. On today's show, we explore what a spin off is and why companies do them.

Related Episodes:
What happened to GE?

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The U.S. labor market continues its hot streak, adding 303,000 jobs last month — more than expected. Many of these jobs will require a four-year degree despite a push among some employers to eliminate these requirements. On today's show, we look at the state of the job market for people without a four-year college degree.

Related episodes:
The lopsided market for higher ed
Enough with bachelor's degrees
The cost of student debt
Failing college

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"Shadow fleet" refers to the collective of ships used by countries that have sanctions against them, like Russia, to transport commodities around the world. These ships pose threats to global and environmental security because they skirt international maritime law. So what can be done about them?

Today on the show, we explain what exactly makes the shadow fleet so dangerous and why there are surprisingly limited options for how to deal with these problem ships.

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Since 2020, grocery prices have shot up. If you're looking to save a buck, it's often more affordable to shop for groceries at a big retailer like Walmart. But some smaller grocers say those low prices are the result of an unfair playing field—and they're looking to a little-used antitrust law from the 1930s as a solution. Today, we consider the Robinson-Patman Act and whether reviving it could bring consumers some relief.

Related episodes:
Grocery delivery wars (Apple / Spotify)
Feeling inflation in the grocery store (Apple / Spotify)

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The sun is shining, birds are singing, and...our allergies are going NUTS. That can only mean one thing: It's time for The Indicator Quiz! The show where we bring a lucky listener on to test their econ knowledge. Today's quiz focuses on questions related to labor. Play along with us and see how you do! Are you interested in being a contestant on our next Indicator Quiz? Email us your name and phone number at [email protected] and put "Indicator Quiz" in the subject line.

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Does breaking the law ... make financial sense? Paying future fines and settlements at the risk of harm to people and the environment? Some legal scholars argue that's just the cost of doing business.Today, we ask whether a company's duty is to the law ... or to its shareholders.

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Many broad economic indicators are positive, but consumer sentiment is negative. Even with cooling inflation and low unemployment, consumers are still feeling the economic strain. In today's episode, we look at three ways the US consumer is feeling the pinch.

Related episodes:
Dollar stores vs. lettuce
Factory boom, credit card debt defaults and housing (Apple / Spotify)
Are we counting jobs right? We answer your listener questions (Apple Podcasts / Spotify)

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March Madness is in full swing as Men's and Women's college basketball teams across the country compete for the NCAA championship. However, the Dartmouth Men's Basketball team made headlines just before the tournament for its successful unionization vote.

Today, we break down why the Dartmouth men are pushing to unionize and what a college athletics union could mean for the future of college sports.

Related episodes:
The monetization of college sports (Apple / Spotify)

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Boeing's CEO Dave Calhoun has resigned and will step down at the end of the year. It comes after a series of mishaps with the aviation company including a door plug blowing off a 737 MAX 9 mid-flight. In today's episode, we turn to a head-hunter to explore what Boeing might look for in a new CEO.

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You might notice we're looking a little refreshed thanks to our new podcast logo. Today on the show, we ask some marketing experts what goes into building a strong brand, and whether our own makeover hits the mark.

Listeners, help us name our new Indi-Gator mascot! Email your suggestion to [email protected] with "Indi-gator" in the subject line.

Related episodes:
How to make an ad memorable (Apple / Spotify)
BRAND new friends

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Countries all over the world are making big moves in monetary policies. From unexpected cuts to long-awaited hikes to a cautious cling to the status quo, this edition of Indicators of the Week has it all. Today, we explain the motivations for these drastically different approaches.

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Snowmaking has helped cover up the effects of climate change for a long time. But by the turn of the century, that started to change. A recent report shows US resorts are opening later, closing earlier, and taking a financial hit. For an industry that relies on snow, the threat is existential. Can ski resorts survive?

Related Episodes:
Ski resorts are welcoming winter storms
The Backcountry Boom

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The number of teenagers in the workforce today is at its highest level in about 20 years. At the same time, child labor violations are up and states are relaxing some protections for their youngest workers. On today's show, we examine the state of the Gen Z labor force, and the distinction between youth employment and child labor.

Related episodes:
Young, 'spoiled and miserable' in China (Apple / Spotify)
Teenage (Employment) Wasteland

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The political pressure on TikTok continues to ratchet up. This week Biden administration officials are throwing their support behind legislation that would essentially give an ultimatum to TikTok's Chinese parent company ByteDance. Sell TikTok to another owner not controlled by a "foreign adversary" or be banned from US app stores.

It's a big step towards an outcome that some high-ranking U.S. officials have desired for years. But why is there so much concern about TikTok, and just how likely is a ban?

Today, a couple of TikTok creators talk about what a ban would mean for them, and NPR tech correspondent Bobby Allyn explains how we got where we are and what could be coming next.

Related episodes:
Is Project Texas enough to save TikTok? (Apple / Spotify)

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The majority of European members of NATO are not spending as much on defense as they agreed to. But that may change as the European Union considers a move to a "war economy." Today, we examine what that means and what barriers to a "war economy" look like.

Related episodes:
The Military Industry ... It's Complex
Are we overpaying for military equipment? (Apple Podcasts / Spotify)
Can Just-In-Time handle a new era of war? (Apple Podcasts / Spotify)
How to transform a war economy for peacetime (Apple Podcasts / Spotify)

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It's Indicators of the Week, our up close and personal examination of economic headlines. Today we have three indicators from President Joe Biden's economic agenda. His budget proposals include fixes for childcare, home buying and hiking corporate taxes.

Related episodes:
Shopping for parental benefits around the world (Apple / Spotify)
When mortgages are too low to give up (Apple / Spotify)
Paying for the Inflation Reduction Act
'Dune: Part Two' is a grand spice opera

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HOOAH! It's our first Beigie Award for 2024! The Beigie Award is back to recognize the regional Federal Reserve Bank with the best Beige Book entry. This edition's winner took us to the City of Brotherly Love, detailing how high home interest rates and low existing home sales in the area are financially affecting our buff brethren in arms: movers.

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Cyberattacks are plaguing the healthcare industry. It's an expensive and dangerous trend that's on the rise. Today, we consider why hacking is surging right now, why healthcare companies are being targeted and what hackers want from them.

Related episodes:
Cracking the code on cyber insurance
One hack to fool them all (Apple Podcasts / Spotify)
How to launder $600 million on the internet (Apple Podcasts / Spotify)

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The introduction of brand new spot bitcoin ETFs has put bitcoin on a bit of a hot streak. Just this week, the price of bitcoin reached a record high of about $72,000 which is about 70% higher than it was a couple of months ago. So why exactly have these ETFs changed the perception around bitcoin so quickly?

Today on the show, we talk with a Bitcoin believer and a skeptic to understand what exactly all the fuss is about for these bitcoin ETFs.

Related episodes:
WTF is a bitcoin ETF? (Apple / Spotify)

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There's been a disconnect between how the US economy is doing and how people actually feel about it. Maybe people are still burnt from when inflation was high, maybe it's the expensive cost of borrowing for a car or a mortgage, or maybe it's ... wait, are WE the problem?! Today we look in the mirror and find out if financial media contributes to negative economic sentiment.

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The job that's projected to be the fastest-growing in the U.S. is wind turbine service technician. So we wanted to learn what they actually do. Today on the show, reporter Darian Woods travels to a windy corner of Maine for a day in the life of one of these green-collar jobs.

Related episodes:
Why offshore wind is facing headwinds (Apple / Spotify)
A Man, a plan, wind power, Uruguay (Apple / Spotify)

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Ukraine desperately needs money. And there's a tempting solution sitting in a Belgian financial institution: nearly $200 billion in frozen Russian assets. In today's episode, we learn about this unique depository where most of the Russian assets are stored and two proposals to get some of this money to Ukraine.

Related episodes:
The cost of a dollar in Ukraine (Apple / Spotify)
Russia's sanctions, graded (Apple)
Why Israel uses diaspora bonds (Apple / Spotify)
Economic warfare vs. Fortress Russia

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The rising cost of living and longer life expectancy is making it harder for Americans to retire comfortably. Millions of Americans are behind on saving for retirement and face the possibility of working in their old age.

Economist Teresa Ghilarducci says she has a plan that could fix retirement in America. In her book, "Work, Retire, Repeat: The Uncertainty of Retirement in the New Economy," she proposes a few policies that she believes can help Americans currently struggling to retire. Today on the show, we talk to her about her ideas and why the current status quo is more serious than we think.

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The Securities and Exchange Commission is expected to issue new rules this week on how companies disclose their greenhouse gas emissions. This is part of a broader movement for more environmentally and socially conscious financial options, known as ESG investing. Today on the show, what the proposed climate disclosure rule says, why it's so controversial, and if it passes, what that'll mean for investors and the stock market.

Related episodes:
The OG of ESGs (Apple / Spotify)

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One estimate says 2.4 million people die in the U.S. each year, and burying them is expensive: a typical burial can cost about $10,000. That's a lot of money, caskets, and plots filling up cemeteries. But ... what if there was a cost-effective option to bury people, one that was good for the Earth and your pocket book? Today, we look at the prices and features of sustainable burials.

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It's Indicators of the Week, our weekly look under the hood of the global economy! Today on the show: Tyler Perry halts his film studio expansion plans because of AI, Wendy's communications about a new pricing board goes haywire and a key inflation measure falls.

Related episodes:
Listener Questions: the 30-year fixed mortgage, upgrade auctions, PCE inflation (Apple / Spotify)
AI creates, transforms and destroys... jobs (Apple / Spotify)
The secret entrance that sidesteps Hollywood picket lines (Apple / Spotify)
The Birth And Death Of The Price Tag

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Israel has long raised money from individual supporters living overseas through a tool called diaspora bonds. This financing tool is part patriotic gift and part investment. Today, we look at how diaspora bonds work and how Israel is making use of them for its war effort.

Related episodes:
The Great Remittance Mystery

Oil prices and the Israel-Hamas war (Apple / Spotify)

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From "Hot Labor Summer" to "Striketober," 2023 was another big year for workers joining picket lines. Today on the show, we'll dig into two recent reports that shed light on the state of labor unrest in the U.S.. We'll look at what industries are driving this trend, how workers are feeling about their jobs and what that says about the American labor movement.

Related episodes:
Why residuals are taking center stage in actors' strike (Apple / Spotify)
The never-ending strike (Apple / Spotify)
The strike that changed U.S. labor

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Super Bowl ads this year relied heavily on nostalgia and surprise –– a few tricks that turn out to embed information into our brains. Today, neuroscientist Charan Ranganath joins the show to dissect the world of marketing to its biological fundamentals and reveal advertisers' bag of tricks.

Charan Ranganath's new book is Why We Remember: Unlocking Memory's Power to Hold On to What Matters.

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