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Planet Money

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NPR

Wanna see a trick? Give us any topic and we can tie it back to the economy. At Planet Money, we explore the forces that shape our lives and bring you along for the ride. Don't just understand the economy – understand the world.Wanna go deeper? Subscribe to Planet Money+ and get sponsor-free episodes of Planet Money, The Indicator, and Planet Money Summer School. Plus access to bonus content. It's a new way to support the show you love. Learn more at plus.npr.org/planetmoney

#355

Tariffs, grocery prices and other listener questions

Donald Trump is just about to begin his second presidency. And it may be safe to say that every single person in America has at least one question about what's to come in the next four years.So, we thought we'd try to answer your questions — as best we can — about the economics of a second Trump term. Is now the time to shop for new tech? Can Trump actually bring down grocery and oil prices? And, does the president have the power to get rid of NPR?This episode of Planet Money was hosted by Amanda Aronczyk. It was produced by Emma Peaslee and edited by Meg Cramer. It was engineered by Neil Tevault and fact-checked by Sierra Juarez. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ [in Apple Podcasts] (http://n.pr/PM-digital) or at [plus.npr.org/planetmoney] (https://n.pr/3HlREPz) .Learn more about sponsor message choices: [podcastchoices.com/adchoices] (https://podcastchoices.com/adchoices) [NPR Privacy Policy] (https://www.npr.org/about-npr/179878450/privacy-policy) ... Read more

17 Jan 2025

27 MINS

27:49

17 Jan 2025

#354

The Land of the Duty Free (classic)

(Note: This episode originally ran in [2018] (https://www.npr.org/sections/money/2018/05/11/610516972/episode-841-the-land-of-duty-free) .)Is it really cheaper to shop at an airport Duty Free store? And why are so many of them alike?In the 1940s, if you were flying from New York City to London or Paris you would find yourself making a pit stop for fuel on the western coast of Ireland. The Shannon airport at the time wasn't much to look at, but the passengers arriving there were movie stars and celebrities, basically the super rich. And the people of Shannon realized pretty quickly that they needed to upgrade the local amenities for their wealthy clientele. They hired a man named Brendan O'Regan to make it happen. Being the quick-thinking entrepreneur that he was, O'Regan convinced the Irish government to create a tax loophole. And thus, duty free stores were born. Today on the show, we follow the surprising origin of duty free, and try to answer the question: Are they really saving you any money?Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in [Apple Podcasts] (http://n.pr/PM-digital) or at [plus.npr.org/planetmoney] (https://n.pr/3HlREPz) .Learn more about sponsor message choices: [podcastchoices.com/adchoices] (https://podcastchoices.com/adchoices) [NPR Privacy Policy] (https://www.npr.org/about-npr/179878450/privacy-policy) ... Read more

15 Jan 2025

20 MINS

20:19

15 Jan 2025

#353

The case for Fed Independence in the Nixon Tapes

You know Watergate, but do you know Fedgate? The more subtle scandal with more monetary policy and, arguably, much higher stakes.In today's episode, we listen back through the Nixon White House tapes to search for evidence of an alarming chapter in American economic history: When the President of the United States seemingly flouted the norms of Fed Independence in order to pressure the Chair of the Federal Reserve Board into decisions that were economically bad in the long run but good for Nixon's upcoming election.The tale of Nixon and his Fed Chair, Arthur Burns, has become the cautionary tale about why Fed Independence matters. That choice may have started a decade of catastrophic inflation. And Burns' story is now being invoked as President-elect Trump has explicitly said [he'd like more control over the Federal Reserve] (https://www.reuters.com/world/us/trump-says-president-should-have-say-fed-decisions-2024-08-08/) .Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ [in Apple Podcasts] (http://n.pr/PM-digital) or at [plus.npr.org/planetmoney] (https://n.pr/3HlREPz) .Learn more about sponsor message choices: [podcastchoices.com/adchoices] (https://podcastchoices.com/adchoices) [NPR Privacy Policy] (https://www.npr.org/about-npr/179878450/privacy-policy) ... Read more

11 Jan 2025

30 MINS

30:43

11 Jan 2025

#352

ZIP Codes!

The ZIP code is less like a cold, clinical, ordered list of numbers, and more like a weird overgrown number garden. It started as a way to organize mail after WWII, but now it pops up all over our daily lives. You type it into the machine at the gas station to verify your credit card. You might type it into a rental search website if you're looking for a new apartment. Back in 2013, the ZIP Code contributed about 10 billion dollars a year to the US economy.On today's show, we turn our attention towards the humble ZIP code. Why was it born? How has it changed the mail? How has it changed the broader world? And... has it gone too far?This episode was hosted by Sally Helm. It was produced by Sam Yellowhorse Kesler with help from Willa Rubin. It was edited by Meg Cramer, and fact-checked by Sierra Juarez. It was engineered by Valentina Rodríguez Sánchez. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ [in Apple Podcasts] (http://n.pr/PM-digital) or at [plus.npr.org/planetmoney] (https://n.pr/3HlREPz) .Learn more about sponsor message choices: [podcastchoices.com/adchoices] (https://podcastchoices.com/adchoices) [NPR Privacy Policy] (https://www.npr.org/about-npr/179878450/privacy-policy) ... Read more

08 Jan 2025

28 MINS

28:14

08 Jan 2025

#351

The potato-shaped loophole in free trade

Ever since free trade opened up between the US and Mexico in the 1990s, trillions of dollars of goods have been going back and forth between the two countries, from cars to strawberries to MRI machines to underwear. But one major exception has been fresh American potatoes.Today on the show, we tell the trade saga of the American potato. For more than 25 years, there was a place that American potatoes could not go to freely. A place that the entire American potato industry was desperate to access. A vast, untapped market: Mexico.But standing in their way – the Mexican potato lobby and a trade loophole.This episode was hosted by Erika Beras and Jeff Guo. It was produced by Willa Rubin and edited by Meg Cramer. It was fact-checked by Sierra Juarez. Engineering by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ [in Apple Podcasts] (http://n.pr/PM-digital) or at [plus.npr.org/planetmoney] (https://n.pr/3HlREPz) .Learn more about sponsor message choices: [podcastchoices.com/adchoices] (https://podcastchoices.com/adchoices) [NPR Privacy Policy] (https://www.npr.org/about-npr/179878450/privacy-policy) ... Read more

03 Jan 2025

27 MINS

27:54

03 Jan 2025

#350

If AI is so good, why are there still so many jobs for translators?

If you believe the hype, translators will all soon be out of work. Luis von Ahn, CEO and co-founder of the language learning app Duolingo, doesn't think AI is quite there... yet. In this interview, Greg Rosalsky talks with Luis about AI and how it's reshaping translation jobs and the language learning industry. We also ask him about headlines earlier this year suggesting Duolingo laid off some of its workers and replaced them with AI.This is one of Greg's Behind The Newsletter conversations where he shares his interviews with policy makers, business leaders, and economists who appear in The Planet Money Newsletter.This episode was first released as a bonus episode for Planet Money+ listeners earlier this year. We're sharing it today for all listeners. To hear more episodes like this one and support NPR in the process, sign up for Planet Money+ at [plus.npr.org] (https://plus.npr.org/) . We'll have a fresh bonus episode out in two weeks!You can sign up for the The Planet Money Newsletter and check out past editions here: [https://www.npr.org/planetmoneynewsletter] (https://www.npr.org/planetmoneynewsletter) Learn more about sponsor message choices: [podcastchoices.com/adchoices] (https://podcastchoices.com/adchoices) [NPR Privacy Policy] (https://www.npr.org/about-npr/179878450/privacy-policy) ... Read more

30 Dec 2024

17 MINS

17:12

30 Dec 2024

#349

The Rest of the Story, 2024

After the gift exchange comes another great holiday tradition: returns season. Once again, we are joining the fun in our own Planet Money way. We are returning to stories from years past to see what's changed since we last reported them. It's an episode we call The Rest of the Story.We have updates on zombie mortgages, student loan forgiveness, Argentina's economy under its self-described anarcho-capitalist president, and the best place in the world to give birth to twins. Plus, a return to... returns.So while you're looking for that holiday sweater in a better size, or waiting in line to trade in your Dutch oven for an air fryer, take a listen to all our latest little audio gifts. And see you in 2025!This episode was hosted by Alexi Horowitz-Ghazi. It was produced by Sam Yellowhorse Kesler, and edited by Keith Romer and Jess Jiang. It was fact-checked by Sierra Juarez and engineered by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ [in Apple Podcasts] (http://n.pr/PM-digital) or at [plus.npr.org/planetmoney] (https://n.pr/3HlREPz) .Learn more about sponsor message choices: [podcastchoices.com/adchoices] (https://podcastchoices.com/adchoices) [NPR Privacy Policy] (https://www.npr.org/about-npr/179878450/privacy-policy) ... Read more

27 Dec 2024

28 MINS

28:29

27 Dec 2024

#348

The Indicators of this year and next

This year, there was some economic good news to go around. Inflation generally ticked down. Unemployment more or less held around 4-percent. Heck, the Fed even cut interest rates three times. But for a lot of people, the overall economic vibes were more important. And the vibes... were still off.We might have achieved the soft landing the Fed was hoping for, but we saw some wackiness in the relationship between unemployment and job vacancies. Meanwhile, Bitcoin went to the moon. We have covered all of that in this past year, but which of these economic stories really defined the year?Fortunately, we don't have to decide. You all do.On today's show, a collaboration with our daily podcast The Indicator, we have Indicator Family Feud! Two Planet Money hosts enter, one Indicator host... also enters. And all three leave, having had a great time with lively discussion and light ribbing. Plus, some mild scheduling issues. But, we can't stress enough that no hosts were harmed in the making of this podcast.Then, we look ahead to 2025 to see what indicators we think will define the coming year – the future and the past, on our latest episode!Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ [in Apple Podcasts] (http://n.pr/PM-digital) or at [plus.npr.org/planetmoney] (https://n.pr/3HlREPz) .Learn more about sponsor message choices: [podcastchoices.com/adchoices] (https://podcastchoices.com/adchoices) [NPR Privacy Policy] (https://www.npr.org/about-npr/179878450/privacy-policy) ... Read more

25 Dec 2024

22 MINS

22:20

25 Dec 2024

#347

The habitat banker

Our planet is in serious trouble. There are a million species of plants and animals in danger of extinction, and the biggest cause is companies destroying their habitats to farm food, mine minerals, and otherwise get the raw materials to turn into the products we all consume.So, when Mauricio Serna was in college, he realized his family's plot of land in Colombia, called El Globo, presented a unique opportunity. Sure, it had historically been a cattle ranch. But if he could get the money to turn it back into cloud forest, perhaps it could once again be a habitat for the animals who used to live there — animals like the yellow-eared parrot, the tree ocelot, and the spectacled bear (of Paddington fame).On today's show, Mauricio's quest to make a market for a new-ish financial instrument: the biodiversity credit. We peek under the hood to try to figure out how these credits actually work. Is the hype around them a bunch of hot air? Or could they be a critical tool for saving thousands of species around the world?Today's episode was hosted by Stan Alcorn and Alexi Horowitz-Ghazi. It was co-reported by Tomás Uprimny. It was produced by James Sneed, edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Cena Loffredo. Alex Goldmark is Planet Money's executive producer. Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ [in Apple Podcasts] (http://n.pr/PM-digital) or at [plus.npr.org/planetmoney] (https://n.pr/3HlREPz) .Learn more about sponsor message choices: [podcastchoices.com/adchoices] (https://podcastchoices.com/adchoices) [NPR Privacy Policy] (https://www.npr.org/about-npr/179878450/privacy-policy) ... Read more

20 Dec 2024

33 MINS

33:02

20 Dec 2024

#346

How sports gambling blew up

Sports gambling isn't exactly a financial market, but it rhymes with financial markets. What happens on Wall Street somehow eventually also happens in sports gambling. So in the 1980s, when computers and deep statistical analysis entered the markets, it also entered the sportsbooks and changed the world of sports gambling in ways we see every day now.On today's episode, we have a story from Michael Lewis' new season of his podcast Against The Rules. We hear from a bookie who was able to beat the odds using statistical analysis, and the other bookie who managed to beat those odds, using an even more subtle science: behavioral analysis. Plus, how it's harder than ever to win against the house, and why those offers of free bets in TV ads are maybe not such a good idea.This episode was hosted by Michael Lewis and Mary Childs. Our version of the podcast was produced by Emma Peaslee and edited by Martina Castro. It was fact checked by Sierra Juarez, and engineered by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ [in Apple Podcasts] (http://n.pr/PM-digital) or at [plus.npr.org/planetmoney] (https://n.pr/3HlREPz) .Learn more about sponsor message choices: [podcastchoices.com/adchoices] (https://podcastchoices.com/adchoices) [NPR Privacy Policy] (https://www.npr.org/about-npr/179878450/privacy-policy) ... Read more

18 Dec 2024

30 MINS

30:15

18 Dec 2024

#345

A Nobel prize for explaining why there's global inequality

Why do some nations fail and others succeed?In the late 1990s and early 2000s, three economists formed a partnership that would revolutionize how economists think about global inequality. Their work centered on a powerful — and almost radically obvious — idea: that the economic fate of nations is determined by how societies organize themselves. In other words, the economists shined a spotlight on the power of institutions, the systems, rules, and structures that shape society.We spoke with two of the Nobel-winning economists about their research on why some countries are rich and others are poor, why it took so long for economics to recognize the power of institutions, and what the heck those even are.This episode was hosted by Jeff Guo and Greg Rosalsky. It was produced by Willa Rubin with help from James Sneed. It was edited by Martina Castro and fact-checked by Sierra Juarez. Engineering by Gilly Moon with help from James Willetts. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ [in Apple Podcasts] (http://n.pr/PM-digital) or at [plus.npr.org/planetmoney] (https://n.pr/3HlREPz) .Learn more about sponsor message choices: [podcastchoices.com/adchoices] (https://podcastchoices.com/adchoices) [NPR Privacy Policy] (https://www.npr.org/about-npr/179878450/privacy-policy) ... Read more

14 Dec 2024

28 MINS

28:29

14 Dec 2024

#344

Worst. Tariffs. Ever. (update)

The Smoot Hawley Tariffs were a debacle that helped plunge America into the Great Depression. What can we learn from them?Today on the show, we tell the nearly 100-year-old story of Smoot and Hawley, that explains why Congress decided to delegate tariff power to the executive branch in the first place. It's a story that weaves in wool, humble buckwheat, tiny little goldfish, and even Ferris Bueller... Anyone? Anyone?It's also what set the stage for the Trump tariffs. President-elect Donald Trump enacted a heap of import taxes in his first term, in particular on goods from China. President Biden's administration largely kept those tariffs in place, and levied new tariffs as well, on electric vehicles and solar panels.And now, as Trump's second presidency is on the horizon, he has promised even more tariffs on Mexico, Canada, China, and even on all imports across the board.And now, as Trump's second presidency is on the horizon, he has promised even more tariffs on Mexico, Canada, China, and even on all imports across the board.We update this classic episode about the Smoot Hawley Tariffs, and review the impact of more recent efforts from Trump and Biden alike.Help support Planet Money by subscribing to Planet Money+ [in Apple Podcasts] (http://n.pr/PM-digital) or at [plus.npr.org/planetmoney] (https://n.pr/3HlREPz) . You get bonus episodes!Learn more about sponsor message choices: [podcastchoices.com/adchoices] (https://podcastchoices.com/adchoices) [NPR Privacy Policy] (https://www.npr.org/about-npr/179878450/privacy-policy) ... Read more

11 Dec 2024

26 MINS

26:32

11 Dec 2024

#343

There Will Be Flood

Windell Curole spent decades working to protect his community in southern Louisiana from the destructive flooding caused by hurricanes. His local office in South Lafourche partnered with the federal government's Army Corps of Engineers to build a massive ring of earthen mounds – also known as levees – to keep the floodwaters at bay.But after Hurricane Katrina called into question the integrity of those levees, Windell decided to take a gamble that put him at odds with his partners in the Army Corps. He decided that the best thing he could do to protect his community was to go rogue and build his levees as tall as possible as quickly as possible, without federal permission.On today's show, what the story of Windell's levee can teach us about how the federal government calculates and manages the risk of natural disasters, and how those calculations can look a lot different to the people staring straight into the eye of the storm.This episode was hosted by Alexi Horowitz-Ghazi and Mary Childs. It was produced by Emma Peaslee and edited by Jess Jiang. It was fact checked by Sierra Juarez and engineered by Valentine Rodriguez Sanchez. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ [in Apple Podcasts] (http://n.pr/PM-digital) or at [plus.npr.org/planetmoney] (https://n.pr/3HlREPz) .Learn more about sponsor message choices: [podcastchoices.com/adchoices] (https://podcastchoices.com/adchoices) [NPR Privacy Policy] (https://www.npr.org/about-npr/179878450/privacy-policy) ... Read more

06 Dec 2024

31 MINS

31:17

06 Dec 2024

#342

George Soros vs. the Bank of England

As people learn more about Donald Trump's pick for Treasury Secretary, Scott Bessent, one story comes up over and over: a legendary trade that he played a small part in while he worked at George Soros' hedge fund in the 1990s. In 1992, Soros' fund set its sights on the British pound, betting that some time in the fall of that year, the pound would plummet in value. Opposing them in this trade was the Bank of England, which was determined to keep its currency stable. The financial battle that followed was intense and proved to be a watershed moment in the balance of power between markets and governments.On today's show, we speak to Robert Johnson, a former managing director at Soros' fund, for a blow-by-blow account of those fateful days in 1992. This episode was hosted by Keith Romer and Alex Goldmark. It was produced by Willa Rubin and edited by Martina Castro. It was fact-checked by Sierra Juarez and engineered by Cena Loffredo. Alex Goldmark is Planet Money's executive producer. Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ [in Apple Podcasts] (http://n.pr/PM-digital) or at [plus.npr.org/planetmoney] (https://n.pr/3HlREPz) .Always free at these links: [Apple Podcasts] (http://n.pr/PM-digital) , [Spotify] (https://n.pr/3gTkQlR) , [the NPR app] (https://n.pr/3Bkb17W) or anywhere you get podcasts.Find more Planet Money: [Facebook] (https://n.pr/3h92GwS) / [Instagram] (https://n.pr/3FqLuws) / [TikTok] (https://n.pr/3sGZdrq) / Our weekly [Newsletter] (https://n.pr/3zrFvUB) .Learn more about sponsor message choices: [podcastchoices.com/adchoices] (https://podcastchoices.com/adchoices) [NPR Privacy Policy] (https://www.npr.org/about-npr/179878450/privacy-policy) ... Read more

04 Dec 2024

30 MINS

30:40

04 Dec 2024

#341

How useful, really, are the steps you can take after a data breach?

The dreaded data breach notification... It tells you your personal data's been compromised and suggests steps you can take to minimize the potential harm. On today's episode, Kenny Malone pulls out a data breach letter he received and goes over what it recommends with Amanda Aronczyk. Amanda recently did a [show] (https://www.npr.org/2024/10/30/1211165444/ticketmaster-snowflake-data-breach-hack) about the legal and illegal markets for data and tells us how useful these steps actually are. It's news you can use to protect yourself, whether or not you've been part of a data breach!This normally would be a bonus episode just for Planet Money+ listeners. With this being the season of giving, we're sharing this one with everyone! To hear more bonus content like this, regular episodes sponsor-free, and support the work of NPR, sign up for Planet Money+ at [plus.npr.org] (http://plus.npr.org) . Related links: [Data Breach Response: A Guide for Business] (https://www.ftc.gov/business-guidance/resources/data-breach-response-guide-business) (FTC) [Have you been affected by a data breach?] (https://consumer.ftc.gov/consumer-alerts/2022/10/have-you-been-affected-data-breach-read) (FTC) [Your Technology Is Tracking You. Take These Steps For Better Online Privacy] (https://www.npr.org/2020/10/09/922262686/your-technology-is-tracking-you-take-these-steps-for-better-online-privacy) (Life Kit) [What happens after you get scammed? Can you get your money back?] (https://www.npr.org/2024/05/29/1197959145/social-engineering-scam-phantom-hacker-fbi) (Planet Money) [Firewalls Don't Stop Dragons] (https://firewallsdontstopdragons.com/podcast/) (cybersecurity and privacy podcast) [DeleteMe] (https://joindeleteme.com/how-we-work/) (personal data removal service) [Experian] (https://www.experian.com/) (credit bureau) [TransUnion] (https://www.transunion.com/) (credit bureau) [Equifax] (https://www.equifax.com/) (credit bureau) Always free at these links: [Apple Podcasts] (http://n.pr/PM-digital) , [Spotify] (https://n.pr/3gTkQlR) , [the NPR app] (https://n.pr/3Bkb17W) or anywhere you get podcasts.Find more Planet Money: [Facebook] (https://n.pr/3h92GwS) / [Instagram] (https://n.pr/3FqLuws) / [TikTok] (https://n.pr/3sGZdrq) / Our weekly [Newsletter] (https://n.pr/3zrFvUB) .Learn more about sponsor message choices: [podcastchoices.com/adchoices] (https://podcastchoices.com/adchoices) [NPR Privacy Policy] (https://www.npr.org/about-npr/179878450/privacy-policy) ... Read more

02 Dec 2024

20 MINS

20:09

02 Dec 2024

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#355

Tariffs, grocery prices and other listener questions

#354

The Land of the Duty Free (classic)

#353

The case for Fed Independence in the Nixon Tapes

#352

ZIP Codes!

#351

The potato-shaped loophole in free trade

#350

If AI is so good, why are there still so many jobs for translators?

#349

The Rest of the Story, 2024

#348

The Indicators of this year and next

#347

The habitat banker

#346

How sports gambling blew up

#345

A Nobel prize for explaining why there's global inequality

#344

Worst. Tariffs. Ever. (update)

#343

There Will Be Flood

#342

George Soros vs. the Bank of England

#341

How useful, really, are the steps you can take after a data breach?