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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.
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- 1763 - Planet Money vs. the NBA’s tanking problem
What do we want from sports? The very best athletes competing as hard as they know how, putting all their effort and training and natural ability to the test against their opponents. But this time of year, that’s not the product the NBA is putting on the court. Instead, teams at the bottom of the league are competing … to lose, because it could help them get a top pick in next year’s draft. It’s called tanking — it’s bad for fans, and it’s bad for the league.
Tanking has gotten especially egregious this year. Even NBA Adam Silver has called out teams for tanking. He recently announced that league bigwigs are considering “every possible remedy” to “align incentives.”
Today on the show — Planet Money fixes the NBA’s tanking problem by … fixing the NBA draft. We get solutions from Hockey Hall of Famer Jayna Hefford, World Cup Champion Sam Mewis, and long-time NBA analyst Zach Lowe.
Handles for the NBA fans in the episode: thevoiceofevan, fullcourtblitz, ashleynevel, igotnxtpodcast, finesse.wes, basketballsavant, and mikedaddino__.
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This episode was hosted by Keith Romer and Erika Beras. It was produced by James Sneed with an assist from Sam Yellowhorse Kesler. It was edited by Jess Jiang and fact-checked by Sierra Juarez. Alex Goldmark is our executive producer.
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NPR Privacy PolicyFri, 06 Mar 2026 - 1762 - The Business of Heated RivalryHeated Rivalry, the steamy hockey romance show, was made for about $2 million per episode. That is remarkably cheap for an hour-long drama.
Today on the show, a conversation with Heated Rivalry creators Jacob Tierney and Brendan Brady about their television miracle on ice.
It’s not just that the show was made efficiently and cleverly. Heated Rivalry comes from a Canadian economic system of making TV and movies that is completely different from how we do things in the US.
In this episode of Planet Money, in partnership with the Pivot podcast co-hosted by Kara Swisher, we hear about a Canadian production model for making TV and movies and how it’s different from the U.S. model. And we learn what the experience of making Heated Rivalry teaches us about the current state of both industries.
Live event info and tickets here.
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The original Pivot episode from New York Magazine and The Vox Media Podcast Network was hosted by Kara Swisher, produced by Lara Naman, Zoë Marcus and Taylor Griffin and engineered by Brandon McFarland. Nishat Kurwa is Vox Media's Executive Producer of podcasts. This episode of Planet Money was hosted by Kenny Malone, produced by James Sneed, edited by Jess Jiang and fact-checked by Lara Naman. Alex Goldmark is our executive producer.
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NPR Privacy PolicyWed, 04 Mar 2026 - 1761 - Don't hate the replicator, hate the game
The world of science has been stuck in an existential crisis over whether we actually know the things we thought we knew. Re-running an old study today doesn't always yield the same result. Same with re-enacting old experiments. Collectively, this is known as the “replication crisis.”
Fabricated data in research about honesty. You can't make this stuff up. Or, can you? The Experiment Experiment How Much Should We Trust Economics?
Economist Abel Brodeur has come up with one way to help fix this crisis: he’s invented an internationally crowdsourced surveillance system, designed to keep social scientists honest. He calls it the “Replication Games.”
Further Listening:
This episode was hosted by Mary Childs and Alexi Horowitz-Ghazi. It was produced by James Sneed and Emma Peaslee, with help from Willa Rubin. It was edited by Jess Jiang, fact-checked by Sam Yellowhorse Kesler, and engineered by Ko Takasugi-Czernowin. Alex Goldmark is Planet Money’s executive producer.
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NPR Privacy PolicyFri, 27 Feb 2026 - 1760 - The ICE hiring boomLive event info and tickets here.
ICE is scaling up, with rapid new hiring. So we ask, has training new officers changed? At what cost?
Also, the Trump administration has plans to pour billions of dollars into warehouses for mass immigrant detention centers, which can totally change the economy of some areas. We hear from a rural town in Georgia that wants an ICE facility in its own backyard.
These episodes were originally published on Planet Money’s sister daily podcast The Indicator.
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The episodes ofThe Indicator were produced by Julia Ritchey, with engineering by Jimmy Keeley. They were fact-checked by Sierra Juarez. Kate Concannon is our show's editor.
This episode ofPlanet Moneywas produced by Luis Gallo, with help from James Sneed. It was edited by Planet Money’s Executive Producer, Alex Goldmark.
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NPR Privacy PolicyWed, 25 Feb 2026 - 1759 - The Supreme Court struck down a bunch of Trump's tariffs. Now what?Live event info and tickets here.
The Supreme Court has spoken. Those big, sweeping tariffs that President Trump imposed early last year? They’re illegal.
On today’s show: Why were those tariffs struck down? Will anyone get refunds? And …what about this new 10 percent tariff the President just announced today?
Plus — a growing market for tariff refunds.
Further Listening:
- Worst. Tariffs. Ever.
- Tariffs: What are they good for?
- What "Made in China" actually means
- The 145% tariff already did its damage
- Are Trump's tariffs legal?
- Days of our Tariffs
- Trump's backup options for tariffs
- What would it mean to actually refund the tariffs?
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This episode was hosted by Jeff Guo, Mary Childs, and Sarah Gonzalez. It was produced by Sam Yellowhorse Kesler and Willa Rubin. It was edited by Marianne McCune. It was fact-checked by Sierra Juarez. Alex Goldmark isPlanet Money’s executive producer.
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NPR Privacy PolicySat, 21 Feb 2026 - 1758 - How to get what Greenland has, with permissionBook tour and ticket info here.
Greenland has said it is not for sale. Denmark has said it can’t even legally sell Greenland. And at a security conference in Munich over the weekend, U.S. lawmakers spent a lot of time trying to walk back some of President Trump’s recent threats to try to buy, or even take over, the territory.
But whether Trump can or will or should try to control or purchase a territory that doesn’t want to be sold is not the interesting question. What is interesting is how we got to this moment. And, how we might gracefully get out of it.
Greenland is valuable for its minerals and because of its physical location in the world. (It’s easy to keep an eye on other countries from Greenland).
Our latest: How the U.S. dropped the ball on the rare earths race. And one way the U.S. gets strategic locations without threatening to buy or take over an entire territory.
Further listening:
-Is Greenland really an untapped land of riches?
-Add to cart: Greenland
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This episode was produced by Willa Rubin with help from Sam Yellowhorse Kesler. It was edited by Marianne McCune. Fact-checking help from Sierra Juarez. It was engineered by Kwesi Lee and Robert Rodriguez. Alex Goldmark is our executive producer.
Music: Universal Music Production - "The Attraction,” “Carnivore,” and “Walls Come Out.”
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NPR Privacy PolicyWed, 18 Feb 2026 - 1757 - Betty Boop, Excel Olympics, Penny-isms: Our 2026 ValentinesBook tour event details and ticket info here.
An iconic cartoon character liberated from copyright, journalism from the world of competitive spreadsheeting, a controversial piece of US currency. Each year the Planet Money team dedicates an episode to the things we simply love and think you, our audience, will also love.
In this year’s Valentine’s Day episode:
The Public Domain Day list from Jennifer Jenkins’ of Duke’s Center for the Study of the Public Domain and her colleagues. Jesse Dougherty’s article “Between the sheets at the college Excel Championship” which is behind a paywall. Here is Jesse’s substack. 404 Media’s excellent journalism on the tech that ICE is usingAn ode to the language of the penny, including songs like Pennies from Heaven. The only self-check out that doesn’t waste your time. And we made public domain Valentine’s cards.
Download THE OFFICIAL Planet Money valentine here.
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This episode of Planet Money was hosted by Kenny Malone. It was produced by James Sneed with help from Sam Yellowhorse Kesler, fact-checked by Sierra Juarez, engineered by Cena Loffredo & Kwesi Lee, and edited by our executive producer Alex Goldmark.
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NPR Privacy PolicyFri, 13 Feb 2026 - 1756 - The Invention InventionBook tour tickets and details here.
Today, the story of three inventions. The first, the sewing machine, was created by a selfish and ambitious inventor who wanted all the credit and was willing to fight a war for it.
The second, a more modern invention, was made by an Italian inventor who wanted only to connect the world through video, so “evvvvverybody can talk with evvvvverybody else.”
And, a third invention that tied them both together across more than a century. The patent pool.
How do people get motivated to invent, and how do they get rewarded for their ideas? Usually through a patent. And, when the thicket of patents becomes too thick, how do we simplify, and make it so inventors can work together? The answer will involve bitter rivals, a sewing machine war, the nine no-no’s of anti-trust, and something called a gob-feeder.
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This episode was hosted by Erika Beras and Sam Yellowhorse Kesler. It was produced by Luis Gallo and edited by Marianne McCune. It was fact-checked by Sierra Juarez and engineered by Cena Loffredo. Alex Goldmark isPlanet Money'sexecutive producer.
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NPR Privacy PolicyWed, 11 Feb 2026 - 1755 - Iran, protests, and sanctionsBook tour tickets and details here.
The recent protests in Iran are about so many things. Human rights, corruption, freedom. But this time – they are also motivated by economic hardship. Hardship caused, in part, by US sanctions.
The US has been sanctioning Iran in one way or another for 47 years. But sanctions, as a tool, only work some of the time, and US sanctions on Iran have not always conformed to what experts consider best practices.
On today’s episode: What did US sanctions do to Iran's economy? How did they feed into the latest protests and crackdown in Iran? Sanctions are supposed to avert war, but how different from war are they?
To learn more about the protests in Iran and the country’s history, check out our great friends at Throughline:
Iran Protests Explained
Iran and the U.S., Part One: Four Days In August
Iran and the U.S., Part Two: Rules of Engagement
Iran and the U.S., Part Three: Soleimani’s Iran
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This episode was hosted by Mary Childs and Nick Fountain. It was produced by James Sneed with help from Willa Rubin. It was edited by Marianne McCune, fact-checked by Sierra Juarez, and engineered by Cena Loffredo and Jimmy Keeley. Planet Money’s executive producer is Alex Goldmark.
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NPR Privacy PolicySat, 07 Feb 2026 - 1754 - Riding with the repo man (update)Planet Money book tour ticket info and dates here.
A record number of Americans with poor or just okay credit are behind on their car payments. And once last year’s numbers are tallied, an estimated 3 million cars will have been repossessed in 2025. That would be on par with how bad it got during the Great Recession. What’s going on? And why now?
Today on the show, we focus on the micro part of the story to answer the macro question. First, we hear a favorite story of ours from 2019. We follow the lifecycle of a delinquent car loan from three different perspectives: the salesman, the driver, and the repo man. Then we’ll hear an update from them in 2026 as we try to find out why so many Americans are behind on their car payments.
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This episode is hosted by Kenny Malone and Preeti Varathan. It was originally produced by Darian Woods and edited by Bryant Urstadt. Our update was reported by Vito Emanuel and produced by Sam Yellowhorse Kesler, and edited byPlanet Money’s executive producer, Alex Goldmark.
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NPR Privacy PolicyWed, 04 Feb 2026 - 1753 - Can Trump make buying a home more affordable?Book tour dates and ticket info here.
Housing is too expensive. Everyone knows this. Democrats know that talking about it plays well with voters. And now – in a midterm election year – President Donald Trump seems to be focused on it, too.
His administration has recently started talking more about affordability. And they’re taking action with two new initiatives that aim to make buying a house easier.
Today on the show, we’re gonna take a close look at these two moves. And ask: Will they work?
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This episode was produced by Willa Rubin with production help from Sam Yellowhorse Kesler. It was edited by Marianne McCune, fact-checked by Sierra Juarez, and engineered by Jimmy Keeley and Cena Loffredo. Alex Goldmark is our executive producer.
Music: NPR Source Audio - "No Problem,” “Fruit Salad,” “Checking In” and “Day Dreamer.”
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NPR Privacy PolicySat, 31 Jan 2026 - 1752 - Can transforming neighborhoods help kids escape poverty?
In the 1990s, Congress created HOPE VI, a program that demolished old public housing projects and replaced them with more up-to-date ones. But the program went further than just improving public housing buildings. HOPE VI was designed to transform neighborhoods with concentrated poverty into neighborhoods that attracted people with different incomes. Some people who moved to HOPE VI neighborhoods earned too much to qualify for public housing. And some even paid for market-rate housing. The idea was that this would help create new opportunities for the low-income people who lived there and even lift people out of poverty.
For years though, there wasn’t a clear answer to whether this approach actually succeeded. A new working paper from Raj Chetty and the team at Opportunity Insights finally provides some answers. On today’s show: Who really benefits when people living in poverty are more connected to their surrounding communities? Are there lessons from the HOPE VI experiment that could apply to other kinds of policies aimed at fostering upward mobility?
More about Opportunity Insights’ study and a link to their interactive map here.
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NPR Privacy PolicyWed, 28 Jan 2026 - 1751 - A trip to the magic mushroom megachurchBook tour dates and ticket info here.
Just as every market has its first movers, every religion has its martyrs — the people willing to risk everything for what they believe. Pastor Dave Hodges just might be a little bit of both. He’s the spiritual leader of the Zide Door Church of Entheogenic Plants, in Oakland, California which places psilocybin mushrooms at the center of their religious practice.
Today on the show, like its 130,000+ members, we’re going to take a trip through the psychedelic mushroom megachurch. We’ll meet one of the lawyers trying to keep psychedelic religious leaders like Pastor Dave from running afoul of the law, and get a peek into how the government decides whether a belief system counts as sincere religion.
This episode was reported with support from The Ferriss – UC Berkeley Psychedelic Journalism Fellowship.
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This episode was hosted by Alexi Horowitz-Ghazi. It was produced by Sam Yellowhorse Kesler and edited by Eric Mennel. It was fact checked by Sierra Juarez and engineered by Kwesi Lee with help from Robert Rodriguez. Alex Goldmark isPlanet Money’s executive producer.
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NPR Privacy PolicySat, 24 Jan 2026 - 1750 - BOARD GAMES 3: What’s in a name?
Planet Money has teamed up with the company Exploding Kittens to make a board game inspired by the legendary economics paper The Market for Lemons. We’ve decided we want a mass-appeal party game that quietly sneaks in the economics, so that we can report from inside a world that no other Planet Money project has entered: the real shelves at real big box retail stores.
We have a great game mechanic and a set of rules. Now all we need is a good name and theme.
Turns out, that is way harder and way higher stakes than any of us could have imagined.
In the third episode of our series, we learn the importance of a good game name and theme and try to come up with one for our game.
Find our previous episodes in the board game series, here and here.
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This episode of Planet Money was hosted by Kenny Malone and Erika Beras. It was produced by James Sneed and edited by Marianne McCune, fact-checked by Willa Rubin, and engineered by Cena Loffredo and Kwesi Lee. Alex Goldmark is our executive producer.
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NPR Privacy PolicyThu, 22 Jan 2026 - 1749 - Chevron, Venezuela and the Paradox of Plenty
Venezuela and Chevron have perhaps one of the strangest partnerships … ever? Chevron, one of the world’s most famous and profitable oil corporations, has for decades, been plugging away in Venezuela, one of the world’s most famous and infamous socialist countries.
Today on the show, the story of their intertwined histories. Before Saudi Arabia, before Iran… there was Venezuela, the first petrostate. The first country whose entire economy became dependent on oil. With the blessing of oil, an entire economic textbook of complications opened up: from the Dutch Disease, to the resource curse, to mono-economic vulnerability.
And, oddly, along for that ride…Chevron.
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This episode ofPlanet Moneywas hosted by Erika Beras and Kenny Malone. It was produced by Luis Gallo with help from Sam Yellowhorse Kesler. It was edited by Marianne McCune, fact-checked by Sierra Juarez and engineered by Cena Loffredo. Alex Goldmark is our executive producer.
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NPR Privacy PolicySat, 17 Jan 2026 - 1748 - How much money President Trump and his family have made
Before President Donald Trump’s first term, he was in a “tight spot” financially, according to New Yorker writer David Kirkpatrick. At the start of his second term, David says, Trump was in an “even tighter” spot. But after just six months into his second term, Trump’s financial situation started looking really good.
David has done a full accounting for what the family has been up to, and even using conservative estimates, David says Trump and his family have made almost $4 billion dollars “off of the presidency,” in just about a year.
Today on the show: we look at every new business and business deal and financial transaction that David says likely would not have happened if Trump wasn’t the president of the United States. And we stop at the most innovative ways Trump and his family have made all that.
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Today’s episode of Planet Money was hosted by Sarah Gonzalez and Mary Childs. It was produced by James Sneed, edited by Jess Jiang, and fact checked by Sierra Juarez. Robert Rodriguez engineered it. Alex Goldmark is our executive producer.
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NPR Privacy PolicyWed, 14 Jan 2026 - 1747 - So are we in an AI bubble? Here are clues to look for.
Are we in an AI bubble? That’s the $35 trillion dollar question right now as the stock market soars higher and higher. The problem is that bubbles are famously hard to spot. But some economists say they may have found some telltale clues.
On our latest: How do economists detect a bubble? And, how much should society be worried about bubbles in the first place?
Related shows:
-How to make $35 trillion ... disappear
-What is a bubble?(featuring Nobel prize winning economics Eugene Fama and Robert Shiller)
-What AI data centers are doing to your electric bill
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This episode was produced by Willa Rubin and edited by Marianne McCune. It was fact-checked by Sierra Juarez and engineered by Cena Loffredo and Robert Rodriguez. Alex Goldmark is our executive producer.
Music: NPR Source Audio - “The best is yet to come,” “Marsh mellow,” and “Sunshine beat”
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NPR Privacy PolicySat, 10 Jan 2026 - 1746 - How Black hair care grew Black power
The Afro is one of the most iconic hairstyles of the last century. And one of its main ingredients was a hair product – Afro Sheen. But Afro Sheen did so much more than make Black afros shine. It was the money behind the television show Soul Train, it helped fuel the civil rights movement – all because of an entrepreneur named George Johnson.
For decades, Joan and George Johnson owned and ran Johnson Products Company, a Black hair care company out of Chicago. Their intimate understanding of what Black people wanted and needed – for their hair and for their lives – helped grow the Black middle class and became an engine for Black culture and power. They helped turn the Black haircare industry into what is now a multi-billion-dollar industry. But although they helped create this industry, they no longer have a part in it.
Today on the show – the story of the rise and fall of Johnson Products. We’re gonna tell you this story in three hairstyles. The conk, the afro… and the jheri curl.
Related episodes:
This Ad’s For You
'Soul Train' and the business of Black joy
Fashion Fair's makeover
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This episode of Planet Money was hosted by Sonari Glinton and Erika Beras. It was produced by James Sneed, edited by Marianne McCune, fact-checked by Sierra Juarez, and engineered by Jimmy Keeley. Alex Goldmark is Planet Money’s executive producer.
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NPR Privacy PolicyWed, 07 Jan 2026 - 1745 - Venezuela’s recent economic history (Update)
We’ve been checking in on the economic conditions in Venezuela for about a decade now. In response to the U.S. strike and the capture of Venezuelan president Nicolás Maduro this weekend, we’re re-surfacing this episode with an update.
The original version ran in 2016, with an update in 2024.
Back in 2016, things were pretty bad in Venezuela. Grocery stores didn’t have enough food. Hospitals didn’t have basic supplies, like gauze. Child mortality was spiking. Businesses were shuttering. It was one of the epic economic collapses of our time. And it was totally avoidable.
Venezuela used to be a relatively rich country. It has just about all the economic advantages a country could ask for: Beautiful beaches and mountains ready for tourism, fertile land good for farming, an educated population, and oil, lots and lots of oil.
But during the boom years, the Venezuelan government made some choices that add up to an economic time bomb.
Today on the show, we run through the decisions that foreshadowed the collapse, and we hear from people in Venezuela in 2016 at a particularly low point for the economy, then again and in 2024 after a bounce back and a stabilization, in part due to the unlikely impact of the U.S. dollar.
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This original episode was hosted by Robert Smith and Noel King. It was produced by Nick Fountain and Sally Helm. Our update in 2024 was hosted by Amanda Aronczyk, produced by Sean Saldana, fact checked by Sierra Juarez, and engineered by Neal Rauch. Today's episode was hosted by Kenny Malone and produced by James Sneed. Alex Goldmark is our Executive Producer.
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NPR Privacy PolicySun, 04 Jan 2026 - 1744 - Indicators of the Year, Past and Future
2025 is finally over. It was a wild year for the U.S. economy. Tariffs transformed global trading, consumer sentiment hit near-historic lows, and stocks hit dramatic new heights! So … which of these economic stories defined the year?
We will square off in a family feud to make our case, debate, and decide it.
Also, as we enter 2026, we are watching the trends and planning out what next years stories are likely to be. So we’re picking which indicators will become next years most telling.
On today’s episode, our indicators of this past year AND our top indicator predictions for 2026.
Related episodes:
The Indicators of this year and next (2024)
This indicator hasn’t flashed this red since the dot-com bubble
What would it mean to actually refund the tariffs?
What AI data centers are doing to your electric bill
What indicators will 2025 bring?
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This episode of Planet Money was produced by James Sneed. The episodes of The Indicator were produced by Angel Carreras, edited by Julia Ritchey, engineered by Robert Rodrigez and Kwesi Lee, and fact-checked by Sierra Juarez. Kate Concannon is the editor of the Indicator. Alex Goldmark is our executive producer.
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NPR Privacy PolicyWed, 31 Dec 2025 - 1743 - Why economists got free trade with China so wrongWith the year coming to a close, we're sharing our most popular Planet Money bonus episode of 2025!
As U.S. trade with China exploded in the early 2000's, American manufacturing began to shrivel. Those workers struggled to adapt and find new jobs. It ran counter to how mainstream economics at the time viewed free trade ... that it would be a clear win for the U.S. Greg Rosalsky talks with David Autor about why economists got free trade with China so wrong.
Autor, an MIT economics professor, and his colleagues published a series of eye-opening studies over the last 15 years or so that brought to light the costs of U.S. trade with China. We also hear Autor's thoughts on the role of tariffs and get an update on his research. With better, more precise data, Autor says we have a more nuanced and "bleaker" picture of what happened to these manufacturing workers.
You can read about Autor's research and sign up for The Planet Money Newsletter here.
To hear more bonus content like this and support NPR and public media, sign up for Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney. Regular episodes remain free to listen!
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NPR Privacy PolicyTue, 30 Dec 2025 - 1742 - The Rest of the Story, 2025
Most stories keep going even after we set down our microphones and the music fades up. That's why, at the end of each year, we look back and we take stock.
We call this tradition "The Rest of the Story." And we bring you updates on the stories we've reported, and from the people we've met along the way.
Today, we check in on an engineer and patent attorney who made a safer saw; we get an update on the Planet Money game; an update on money in Gaza; and we have updates on a diamond that may or may not have had a second life.
Listen to the original stories:
The Subscription Trap
Planet Money buys a mystery diamond
In Gaza, money is falling apart
BOARD GAMES 1: We're making a game
How to save 10,000 fingers
This episode ofPlanet Moneywas produced by Luis Gallo, edited by Alex Goldmark, fact-checked by Vito Emanuel, and engineered by Debbie Daughtry.
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Play the new version of our game here. Version 4.
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NPR Privacy PolicyFri, 26 Dec 2025 - 1741 - The summer I turned binge-y
On the eve of Netflix shoveling a fourish-hour chunk of Stranger Things onto Christmas Day, we visit the past, present, and future of binge-dropped television shows.
The strategy of releasing an entire season at the same time has been key to taking Netflix from a little startup that used to lend us DVDs in the mail … to a company so big and powerful, it is maybe going to buy Warner Brothers and own Bugs Bunny and Tony Soprano and the Harry Potter movies.
But even Netflix may be flirting with some slightly less binge-y models of content release. Are we entering … the end of the binge drop?
On our latest: what data tells us about binge watching. Was it the greatest business decision, and who does binge watching really benefit?
Here’s some of the research.
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This episode was produced by Willa Rubin and edited by Meg Cramer. It was fact-checked by Dania Suleman and engineered by Maggie Luthar. Alex Goldmark is our executive producer.
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NPR Privacy PolicyWed, 24 Dec 2025 - 1740 - What AI data centers are doing to your electric bill
As a country, we are spending more to get data centers up and running than we spent to build the entire interstate highway system. (Yes, that’s inflation-adjusted.) With tech companies spending hundreds of billions of dollars on AI, data centers have kind of become the thing in the US economy.
But along with that growth have come a lot of questions. Like where is all the electricity to run these data centers supposed to come from? And how much are residential customers’ electric bills increasing as a result?
On today’s episode, we go to Ohio to trace one electric bill back to its source, to see what exactly is causing the big price increases people are seeing. We take a tour of a data center hot spot, and get to the bottom of how prices are set from inside the power company.
Related episodes:
- Asking for a friend … which jobs are safe from AI?
- No AI data centers in my backyard!
- What $10 billion in data centers actually gets you
- Is AI overrated or underrated?
- Green energy gridlock
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Today's show was hosted by Keith Romer and Jeff Guo. It was produced by Sam Yellowhorse Kesler. It was edited by Jess Jiang and fact checked by Sierra Juarez and Vito Emanuel. It was engineered by Cena Loffredo. Alex Goldmark isPlanet Money's executive producer.
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NPR Privacy PolicySat, 20 Dec 2025 - 1739 - PM does a pop culture draft: 1999 edition
Welcome to the inaugural Planet MoneyPop Culture Draft! In today's episode (a Planet Money+ episode we’re releasing into the main feed) we're gonna go back to the year 1999. Three hosts, Kenny Malone, Wailin Wong, and Jeff Guo, go head to head and each drafts a “team” of economic pop culture. So a movie, a song, and a wild card pick that best represents the Planet Moneyspirit!
It could be a movie related to business or maybe a song about money … as long as it came out in 1999! Listen to hear each of them make the case for why their team should be crowned the winner!
If you want more bonus episodes like this one and to support our work, sign up for Planet Money+.
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This episode was hosted by Kenny Malone, Wailin Wong, and Jeff Guo. It was produced by Viet Le and edited byPlanet Money’sexecutive producer Alex Goldmark.
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NPR Privacy PolicyWed, 17 Dec 2025 - 1738 - When Chicago pawned its parking meters
In 2008, Chicago’s budget was in a bad place. The city needed money. One way to raise money was to increase property taxes, but what politician wants to do that? So instead, Mayor Richard M. Daley’s administration looked around at the resources the city had, and thought, ‘Any of this worth anything?’ They opted to lease out the city’s metered parking system — to privatize all 36,000 of its parking meters.
The plan: have private companies bid on operating the meters, modernizing the system, and keeping the profits for a certain number of years. In exchange, they would give Chicago a big lump sum payment. The winning bid was $1.16 billion dollars for a 75-year lease.
Today’s episode is the story of how that bid got put together, and how it came to be hated. There are kidnapped parking meters, foot chases through City Hall, and trash bags filled with secret documents.
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This episode was produced by Willa Rubin with help from Luis Gallo and Sam Yellowhorse Kesler. It was edited by Jess Jiang, fact-checked by Vito Emanuel and engineered by Cena Loffredo and Robert Rodriguez. Alex Goldmark is our executive producer.
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NPR Privacy PolicyFri, 12 Dec 2025 - 1737 - Strange threadfellows: How the U.S. military shaped what we all wear
From nuclear fission to GPS to the internet, it’s common knowledge that many of the most resource intensive technologies of the last century got their start as military R&D projects in government-funded labs. But as Avery Trufelman explains in her fashion history podcast, Articles of Interest, the influence of the US military is, in many ways, even more intimate than that, shaping much of the clothing we all wear everyday.
On today’s show, a tale of Army surplus economics. How military designs trickled down from the soldiers on the front lines to the hippies on the war protest line to the yuppies in line at Banana Republic. And why some of your favorite outdoor brands may just be moonlighting as U.S. military suppliers, while keeping it as under the radar as they can.
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This episode ofPlanet Moneywas produced by Luis Gallo, edited by Jess Jiang, fact checked by Yasmine Alsayyad, and engineered by Robert Rodriguez. Alex Goldmark isPlanet Money’s executive producer.
Articles of Interest is produced by Avery Trufelman, edited by Alison Beringer, fact checked by Yasmine Alsayyad, and engineered by Jocelyn Gonzalez.
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NPR Privacy PolicyWed, 10 Dec 2025 - 1736 - How hurricanes became a hot investment
A few years ago, the Jamaican government started making an unusual financial bet. It went to investors around the world asking if they'd like to wager on the chances a major hurricane would hit the island in the next couple of years.
In finance terms, these kinds of wagers are called "catastrophe bonds." They're a way to get investors to share the risk of a major disaster, whether that's a Japanese earthquake, a California wildfire, or a Jamaican hurricane.
This market for catastrophe has gotten really hot lately. And it’s changing the way that insurance works for all of us.
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This episode was produced by Willa Rubin and edited by Marianne McCune. It was engineered by Jimmy Keeley and Kwesi Lee. Fact-checking by Sierra Juarez and Vito Emanuel. Alex Goldmark is our executive producer.
Music: Universal Music Production - “Lagos to London,” “Sleazy Does It,” “The Sundown Set.”
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NPR Privacy PolicyFri, 05 Dec 2025 - 1735 - Is AI slopifying the job market? (Two Indicators)Vote for us in NPR’s People’s Choice Awards:npr.org/peopleschoice
AI is already reshaping how people find work. Fewer entry-level jobs, robot recruiters, and ever-changing new skill requirements all add up to a new, daunting landscape for humans trying to find dignified work.
Today on the show: two stories from the edges of a changing labor market. First we’ll assess claims that AI is causing a white collar job apocalypse. What does the data actually say? We meet an economist who has found one small but fascinating way to measure the impact of AI on workers.
Then, we go face-to-face, or at least voice-to-voice, with AI. We meet a robot recruiter for a job interview and find cause to ask, ‘When might that actually be preferable to a human recruiter?’
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The originalIndicatorepisodes were hosted by Wailin Wong, Darian Woods, and Adrian Ma. They were produced by Cooper Katz McKim and engineered by Robert Rodriguez and Debbie Daughtry. They were fact checked by Sierra Juarez. They were edited by Paddy Hirsch and Kate Concannon.
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NPR Privacy PolicyWed, 03 Dec 2025 - 1734 - Capitalism (Taylor's Version) (25-minute Podcast Version)
Taylor Swift reaches new heights with her latest album, which is both divisive and record-breaking. And it’s fueled by an elaborate series of business choices that propel profits but also chart numbers. Today’s episode comes from our friends at Today Explained, Vox’s lively, smart daily news podcast.
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This episode was hosted by Noel King. It was produced by Ariana Aspuru, edited by Amina Al-Sadi, fact-checked by Laura Bullard, and engineered by Adriene Lilly.
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NPR Privacy PolicyFri, 28 Nov 2025 - 1733 - Saving lives with fewer dollars
Givewell is a nonprofit organization that gives money to “save or improve the most lives per dollar.” Part of their whole thing is a rigorous research process with copious and specific datapoints. So, in the chaotic wake of USAID’s gutting, they scrambled to figure out if they could fund the kind of projects USAID used to.
Today on the show: GiveWell let us in on their decision-making process, as they try to reconcile the urgency of the moment with their normal diligence. We get to watch as they decide if they can back one project, to support health facilities in Cameroon.
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This episode was hosted by Mary Childs. It was produced by Sam Yellowhorse Kesler. It was edited by Marianne McCune, fact-checked by Vito Emanuel, and engineered by Jimmy Keeley with help from Robert Rodriguez.Planet Money’s executive producer is Alex Goldmark.
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NPR Privacy PolicyThu, 27 Nov 2025 - 1732 - The Consumer Sentiment vs. Consumer Spending Puzzle
Wherever consumer sentiment goes, consumer spending usually goes too. They’re like buddies that do everything together. Consumer sentiment wants a hair cut, its buddy consumer spending does too.
But lately, these friends are drifting apart.
While consumer sentiment about the economy is down … spending remains strong.
And not just that… Interest rates are still high, inflation is growing, tariffs have made the prices of goods go up. And yet, consumer spending looks good. What gives?
Today - a consumer spending mystery. Is the economy actually healthy? Or is something distorting our view of the economy?
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This episode was hosted by Sarah Gonzalez and Kenny Malone. It was produced by James Sneed. It was edited by Meg Cramer and fact-checked by Sierra Juarez. It was engineered by Debbie Daughtry and Kwesi Lee. Alex Goldmark is Planet Money's executive producer.
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NPR Privacy PolicyFri, 21 Nov 2025 - 1731 - Days of our Tariffs
Tariffs. They’ve been announced, unannounced, re-announced, raised and lowered. It’s an on-going saga with billions at stake!
Are Trump's tariffs legal? What is Temu?What "Made in China" actually means
On today’s episode, we run full-on at the twisty, turny drama of life with broad-based tariffs and tackle perhaps our most asked question: Are we, regular U.S. shoppers, feeling the tariffs yet? When we’re at the grocery store or the coffee shop, are we paying more for things because of the tariffs?
We now have the data to get a very clear answer to that question. Plus, we hear a cautionary tale from our dear colleague James Sneed, who ordered a collectible doll and wound up with a surprise tariff bill at his door.
Related episodes:
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This episode was produced by Willa Rubin and edited by Jess Jiang. It was fact-checked by Sierra Juarez with research help from Vito Emanuel. It was engineered by Jimmy Keeley and Maggie Luthar. Alex Goldmark is our executive producer.
Music: NPR Source Audio - “Mirror,” “Remorse,” “Endless,” “Secrets,” “Schmaltzy,” “Water Mirror.”
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NPR Privacy PolicyWed, 19 Nov 2025 - 1730 - The obscure pool of money the US used to bail out Argentina
Last month, during the longest government shutdown in U.S. history, Treasury Secretary Scott Bessent announced that the United States had offered to functionally loan Argentina $20 billion. Despite the sums involved, this bailout required no authorization from Congress, because of the loan’s source: an obscure pool of money called the Exchange Stabilization Fund. The ESF is essentially the Treasury Department’s private slush fund.
Its history goes all the way back to the Great Depression. But, in the 90 years since its creation, it has only been used one time at this scale to bailout an emerging economy: Mexico, in 1995. That case study contains some helpful lessons that can be used to make sense of Bessent’s recent move. Will this new credit line to Argentina work out as well as it did the last time we tried it? Or will Argentina’s economic troubles hamstring the Exchange Stabilization Fund forever?
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This episode was hosted by Keith Romer and Erika Beras. It was produced by Luis Gallo. It was edited by Eric Mennel and fact checked by Sierra Juarez. It was engineered by Cena Loffredo. Alex Goldmark is Planet Money’s executive producer.
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NPR Privacy PolicySat, 15 Nov 2025 - 1729 - Buy now, pay dearly? (update)
(Note: A version of this episode originally ran in 2022.)
Every time you shop online and make it to the checkout screen, you see those colorful pastel buttons at the bottom. Affirm. Klarna. Afterpay. Asking: Do you want to split your payment into interest-free installments? No credit check needed. Get what you want, right now.
That temptation got shoppers like Amelia Schmarzo into some money trouble. Back in 2022, she maxed out her credit card after a month of buying now and paying later. She’s not alone. Buy now, pay later is everywhere now. And you can finance almost anything with it. Your clothes, your furniture … even your lips.
But if these companies don’t charge interest, how do they make money? In short, people buy more stuff using these services and so sellers are willing to pay up. Which makes buy now, pay later, something of a threat to credit card companies. Cue the tussle for your impulse-buying clicks.
Today on the show, we find out how the companies work, who’s most likely to use these services and who’s getting a good deal. And a warning: those little loans will soon be on your credit report.
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This episode was produced by Emma Peaslee, engineered by Josh Newell and edited by Molly Messick. Our update was reported by Vito Emanuel, produced by Willa Rubin, engineered by Gilly Moon and edited by our executive producer, Alex Goldmark.
Music: Universal Music Production - "Retro Funk," "Comin' Back For More," "Reactive Emotion," and "EAT."
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NPR Privacy PolicyWed, 12 Nov 2025 - 1728 - A new experiment in remote work … from the inside
When people in Maine prisons started getting laptops to use in their cells for online classes and homework, it sparked this new idea. Could they have laptops in their cells to work remotely for real outside world jobs, too??? And get real outside world wages?
Today on the show, we have reporting from Maine Public Radio’s Susan Sharon about a new experiment in prisons: remote jobs … paying fair market wages, for people who are incarcerated.
Listen to Susan’s original reporting here:
- In Maine, prisoners are thriving in remote jobs and other states are taking notice
- Cracking the code: How technology and education are changing life in Maine prisons
Related episodes:
- Fine and Punishment
- Getting Out Of Prison Sooner
- The Prisoner's Solution
- Paying for the Crime
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This episode was hosted by Sarah Gonzalez with reporting from Susan Sharon. It was produced by Sam Yellowhorse Kesler with reporting help from Vito Emanuel. It was edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Robert Rodriguez, with help from Patrick Murray. Alex Goldmark isPlanet Money’s executive producer.
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NPR Privacy PolicyFri, 07 Nov 2025 - 1727 - Everything’s more expensive!! Pet care!! Concert tickets!! (Two Indicators)
People in the U.S. are feeling the financial squeeze, in part because of rising inflation, higher consumer prices and slowing job growth. The Indicator from Planet Money is tackling a special series on the rising cost of living. Today, two stories from that series.
First, what’s making ticket prices go up? We look at the economics behind the ticket market and how “reseller bots” are wreaking all sorts of havoc. The industry is not a fan, and yet they do serve an economic function.
And… why pet care costs have surged. It comes down to unique skills, people’s love for their pets and something called the “Baumol effect.”
Related episodes:
- The Vet Clinic Chow Down
- What Do Private Equity Firms Actually Do?
- Kid Rock vs. The Scalpers
- Ticket scalpers: The real ticket masters
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This episode is hosted by Darian Woods, Adrian Ma, and Wailin Wong. These episodes ofThe Indicator were originally produced by Angel Carreras. Cooper Katz McKim produced this episode. It was engineered by Robert Rodriguez and fact-checked by Sierra Juarez. Kate Concannon isThe Indicator’s editor. Alex Goldmark isPlanet Money's executive producer.
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NPR Privacy PolicyWed, 05 Nov 2025 - 1726 - After the shutdown, SNAP will still be in trouble
This week’s SNAP crisis is just a preview. Tucked inside the giant tax-cut and spending bill signed by President Donald Trump this summer are enormous cuts to SNAP: Who qualifies, how much they get, and who foots the bill for the program. That last part is a huge change.
For the entire history of the food stamp program, the federal government has paid for all the benefits that go out. States pay part of the cost of administering it, but the food stamp money has come entirely from federal taxpayers. This bill shifts part of the costs to states.
How much will states have to pay? It depends. The law ties the amount to a statistic called the Payment Error Rate -- the official measure of accuracy -- whether states are giving recipients either too much, or too little, in food stamp money.
On today’s show, we go to Oregon to meet the bureaucrats on the front lines of getting that error rate down -- and ask Governor Tina Kotek what’s going to happen if they can’t.
Looking for hunger-relief resources?Try here.
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This episode was hosted by Nick Fountain and Jeff Guo. It was produced by James Sneed and Willa Rubin, edited by Marianne McCune and Jess Jiang, fact-checked by Sierra Juarez, and engineered by Debbie Daughtry and Robert Rodriguez. Alex Goldmark isPlanet Money’s executive producer.
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NPR Privacy PolicySat, 01 Nov 2025 - 1725 - The remittance mystery
For decades, the U.S. has been the single biggest source of remittances worldwide. A remittance is a transfer of money, typically from an immigrant to their family in their country of origin. But we are in the middle of a big, loud and very public immigration crackdown on those who are here without legal status. And that crackdown is disrupting the global remittance market.
People who have come to the U.S. from a handful of countries — especially some Central American countries — have been sending more money back to their countries of origin. And it’s a bit of a puzzle because … you might think the opposite would be the case.
As immigration plummets, we try to figure out why remittances are surging in some countries, and not others. And we learn why a surge in money sent home inspires joy — but also fear.
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Register here for our live Zoom event about our board game project on November 1st.
This episode was hosted by Erika Beras and Greg Rosalsky. It was produced by Luis Gallo with help from Sam Yellowhorse Kesler. It was edited by Marianne McCune with fact-checking help from Sierra Juarez. It was engineered by Patrick Murray. Alex Goldmark isPlanet Money’s executive producer.
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NPR Privacy PolicyThu, 30 Oct 2025 - 1724 - Should the fine have to fit the crime?
The U.S. Constitution famously outlaws “cruel and unusual punishments.” But there's another, far more obscure part of the Constitution called the Excessive Fines Clause, which basically says that the fine has to fit the crime. So far, the Supreme Court has been pretty mysterious about what that means. But for Ken Jouppi, the fate of his $95,000 plane hinges on it.
Ken is a bush pilot. He used to run an air taxi service in Fairbanks, Alaska. In 2012, police caught one of Ken’s passengers with a six-pack of Budweiser in her luggage. Over that six-pack, Ken was convicted of bootlegging. As punishment, he was ordered to forfeit his $95,000 Cessna.
The Supreme Court is now considering whether to take Ken’s case. And what’s at stake here is more than just a plane. Hanging in the balance is an increasingly popular — and controversial — business model for criminal justice.
More on economics and the law:
- Fine and punishment
- The prisoner's solution
- Paying for the crime
- Rescues at sea, and how to make a fortune
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Today’s episode was produced by James Sneed and Sam Yellowhorse Kesler with help from Luis Gallo. It was edited by Jess Jiang, fact-checked by Sierra Juarez and engineered by Ko Tagasugi Chernovin with help from Robert Rodriguez. Planet Money's executive producer is Alex Goldmark.
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NPR Privacy PolicyFri, 24 Oct 2025 - 1723 - TikTok’s Trojan Horse Strategy
When TikTok videos started to go viral on Instagram and Reddit, TikTok turned to professional sound designers to protect their content.
More and more companies are paying to develop a “sonic identity” – a series of sounds, songs, and micro-jingles to help maintain a unified brand.
In this episode, in conjunction with the sound design podcast Twenty Thousand Hertz, we hear the backstory to possibly the most successful audio branding campaigns in history. It’s a tale of guerilla marketing and the power of sonic suggestion.
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This adapted episode was hosted by Kenny Malone and Dallas Taylor. It was produced by Casey Emmerling and James Sneed. The episode was edited by Jess Jiang. Alex Goldmark is our Executive Producer.
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NPR Privacy PolicyWed, 22 Oct 2025 - 1722 - How Russia’s shadow fleet is sailing around oil sanctions
Bjarne Caesar Skinnerup works as a maritime pilot in the straits of Denmark. That means he’s used to seeing oil tankers. But after the start of the war in Ukraine, the tankers started getting weird. They were flying flags he’d never seen before. They were old, very old, though many had taken on new names. Something was off.
He’d stumbled on a shadow fleet of hundreds of tankers ferrying sanctioned oil out of Russia … with near impunity.
Today on the show, how those ships are transforming the global oil market and fueling the war in Ukraine. And why this all might be a financial and environmental disaster waiting to happen.
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This episode was hosted by Alexi Horowitz-Ghazi and Daniel Ackerman. It was produced by Willa Rubin and edited by Marianne McCune. It was fact-checked by Sierra Juarez and engineered by Kwesi Lee and Cena Loffredo. Alex Goldmark is our executive producer.
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NPR Privacy PolicyFri, 17 Oct 2025 - 1721 - The year NYC went broke
In 1975, New York City ran out of money. For a decade it had managed to pay for its hundreds of thousands of city employees and robust social services by taking on billions of dollars in debt. But eventually investors were no longer willing to lend the city any more money. New York teetered on the edge of bankruptcy — the city shuttered more than a dozen firehouses, teachers went on strike and garbage piled up in the streets.
Rescuing the city required the cooperation of the state of New York, the banks, the city workers unions, giant property owners and … the White House. But President Gerald Ford was adamantly opposed to bailing out NYC, prompting the famous New York Daily News headline — “Ford to City: Drop Dead.”
On today’s show, the story of a group of private citizens who were deputized by the state of New York to try to save the city’s finances. Led by investment banker Felix Rohatyn, the group had to put together a grand bargain that everyone would be willing to agree to, and to come up with the billions of dollars the city needed to survive.
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Today’s episode of Planet Money was hosted by Keith Romer and Nick Fountain. It was produced by James Sneed with help from Sam Yellowhorse Kesler and Julia Ritchey. It was edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Debbie Daughtry and Cena Loffredo. Our executive producer is Alex Goldmark.
Special Thanks: Denis Coleman, David Schleicher, Liall Clarke, Kevin Hennigan and everyone at Classical King FM in Seattle.
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NPR Privacy PolicyWed, 15 Oct 2025 - 1720 - How the government got hedge funded
The U.S. government spends a ton of money, on everything from Medicare to roads to defense. In fact, it spends way more than it takes in. So…it borrows money, in the bond market. By selling U.S. Treasurys, basically IOUs with periodic interest payments. And for decades, people have loved to invest in Treasurys, for their safety and security.
But lately, Treasurys have started to look riskier.
In part because, in recent years, there’s a new buyer at the table: hedge funds, those loosely-regulated financial companies that invest on behalf of institutions and wealthy clients. They have started doing a special trade called the “Treasury basis trade.” And, depending on who you talk to, this trade could destabilize our entire financial system. Or help the U.S. government borrow more money. Or both.
On the latest episode: how and why are hedge funds getting into Treasurys? We follow how a Treasury travels from the nest into the hands of hedge funds. And we speak to someone from one of those hedge funds, about what they’re doing and why.
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This episode was hosted by Mary Childs and Kenny Malone. It was produced by Willa Rubin and edited by Marianne McCune. It was fact-checked by Sierra Juarez and engineered by Jimmy Keeley and Cena Loffredo. Alex Goldmark is our Executive Producer.
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NPR Privacy PolicyFri, 10 Oct 2025 - 1719 - Two ways AI is changing the business of crime (Two Indicators)
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Our sister show, The Indicator, is chronicling the evolving business of crime for its Vice Week series. Today, we bring to you two cases of crime in the age of AI.
First, cybercriminals are using our own voices against us. Audio deepfake scams are picking up against individuals but also against businesses. We hear from a bank on how they’re adapting defenses, and find out how the new defenses are a game of AI vs AI.
Then, we move over to the stock market to witness AI market manipulation. A new breed of trading bots behave differently. They could collude with each other, even without human involvement or instruction, so researchers are asking how to think about blame, and regulation in a world of more sophisticated trading bots. That’s assuming regulators could even keep up with the tech in the first place.
Indicator Vice Series
Head to The Indicator from Planet Money podcast feed for the latest on the Indicator Vice Series including an episode on data breaches . If you don’t already subscribe, check it out. Each episode explains one slice of the economy connected to the news recently, always in 10 minutes or less.Listen free: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.
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This episode is hosted by Darian Woods, Adrian Ma, and Wailin Wong. These episodes ofThe Indicatorwere originally produced by Cooper Katz McKim and engineered by Robert Rodriguez. They were fact-checked by Sierra Juarez. Kate Concannon isThe Indicator’s editor. Alex Goldmark is the Executive Producer.
Music: NPR Source Audio - “Diamond High”
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NPR Privacy PolicyWed, 08 Oct 2025 - 1718 - BOARD GAMES 2: Making our prototype
It’s here! It’s free to download and playtest! It’s the Planet Money game! (Download here.)
Download and playtest the game go here Sign up for the 11/1 virtual AMA event and get updates about the gameSubmit your feedback on the gameWatch the how-to video with Kenny and Elan for playtest instructionsIn this episode, the story of how we arrived here. Ride along as our game-making partners at Exploding Kittens help us turn our (sometimes wild) economics game ideas into the next blockbuster game. It’s a behind the scenes look at how to design a game from scratch — a game that is somehow filled with economics, impossible to put down, but does not feel like you’re cramming for school. Which is… harder than we thought.
After months of trying to find the perfect balance of ideas and entertainment, the Planet Money game is ready for our next phase. And that’s where you come in, listeners! We need you to playtest the Planet Money game to help us perfect it.
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This episode was hosted by Kenny Malone and Erika Beras. It was produced by James Sneed with help from Emma Peaslee and edited by Jess Jiang. It was fact-checked by Sierra Juarez and engineered by Cena Loffredo. Alex Goldmark is Planet Money’s executive producer.
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NPR Privacy PolicySat, 04 Oct 2025 - 1717 - BOARD GAMES 1: We're making a game
We want to make a board game. It must, of course, teach the world about economics. It must be fun. It’d be nice if it sold lots of copies! How hard could that be!? (Monopoly and Catan are hugely popular and basically little economy simulators, after all.)
Well, turns out, it’s quite hard!
We’re in a golden age of tabletop games. Thirty years ago there were around 800 new games each year. Now it is more like 5,000. Just a handful of those get to be hits.
In the first episode of our new series, Planet Money sets forth on an epic quest to beat the odds.
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This episode was hosted by Kenny Malone and Erika Beras. It was produced by James Sneed with help from Emma Peaslee and edited by Marianne McCune. It was fact-checked by Sierra Juarez and engineered by Gilly Moon and Robert Rodriguez. Alex Goldmark isPlanet Money’s executive producer.
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NPR Privacy PolicyWed, 01 Oct 2025 - 1716 - How refrigeration took over the world
The next time you open your fridge, take a second to behold the miracles inside of it: Raspberries from California, butter from New Zealand, steak from Nebraska. None of that would have been remotely possible before the creation of the cold chain.
The cold chain is the name for the end-to-end refrigeration of our food from farm to truck to warehouse to grocery store and ultimately to our fridges at home. And it’s one of the great achievements of the modern world.
On today’s show, Nicola Twilley, food journalist and author of Frostbite: How Refrigeration Changed Our Food, Our Planet, and Ourselves, tells us the story of how our world got cold, and what that’s meant for the economy.
We’ll hear about two pioneers of cold: The cheapskate meat baron Gustavus Swift, and the train-hopping chemist Polly Pennington. And we’ll take a look at whether all this refrigeration might have created some new problems.
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Today’s episode ofPlanet Moneywas hosted by Nick Fountain and Alexi Horowitz-Ghazi. It was produced by James Sneed and edited by Keith Romer. It was fact-checked by Sierra Juarez and engineered by Valentina Rodríguez Sánchez. Alex Goldmark isPlanet Money's executive producer.
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NPR Privacy PolicyFri, 26 Sep 2025 - 1715 - How Jane Street’s secret billion-dollar trade unraveled
On Wall Street, fortunes are often won and lost with the tiniest advantages. And for the past few years, one trading firm has stood out from the rest for both huge profits and careful secrecy — Jane Street Group.
But last year, one of Jane Street’s biggest and most lucrative trading strategies was unexpectedly revealed in a Manhattan courtroom. The news ricocheted around the world. It drew the attention of competitors and regulatory agencies, destabilized billions of dollars worth of trades, and called into question some of the most fundamental strategies in global finance.
SomePlanet Moneyepisodes about finance:
- The rise and fall of Long Term Capital Management
- How George Soros forced the UK to devalue the pound
Further reading:
-Jane Street Group, LLC v. Millennium Management LLC, Douglas Schadewald, and Daniel Spottiswood
- “Jane Street’s Indian Options Trade Was Too Good,” from Bloomberg
- SEBI's report:"Interim Order in the matter of Index manipulation by Jane Street Group"
- “Jane Street Defends India Trading Activity, Blasts Regulator,” from Bloomberg
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This episode was hosted by Alexi Horowitz-Ghazi and Mary Childs. It was produced by Eric Mennel, with production help from Sam Yellowhorse Kesler and Cooper Katz-McKim. It was edited by Jess Jiang. Fact-checking by Sierra Juarez.Planet Money’s executive producer is Alex Goldmark.
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NPR Privacy PolicyWed, 24 Sep 2025 - 1714 - In Gaza, money is falling apart
Israel has been blocking the flow of physical money into Gaza since the start of the war. So whatever paper cash was in Gaza before the war, that’s all that’s been circulating. It's falling apart from overuse.
Two best friends, one in Gaza and one in Belgium, are now trying to get money in.
But how do you get money into a bank account in Gaza? And how do you get that money out, in Gaza, when there are no functioning banks or ATMs? And almost no electricity. And spotty internet. And what is there to buy? How does money even work in Gaza right now?
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This episode was hosted by Sarah Gonzalez. It was produced by Sam Yellowhorse Kesler. It was edited by Marianne McCune, and fact-checked by Sierra Juarez. It was engineered by Cena Loffredo, Robert Rodriguez, and James Willetts. Alex Goldmark isPlanet Money’s executive producer.
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NPR Privacy PolicySat, 20 Sep 2025 - 1713 - When CEO pay exploded (update)
(Note: A version of this episode originally ran in 2016.)
It’s no secret that CEOs get paid a ton – and a ton more than the average worker. More than a hundred times than what their average employee makes.
But it wasn’t always this way. So, how did this gap get so vast? And why?
On today’s episode … we go back to a specific moment when the way CEOs were paid got changed. It involves Bill Clinton's campaign promises, and Silicon Valley workers taking to the streets to protest an accounting rule. And of course, Dodd Frank.
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This episode was hosted by Jacob Goldstein and Stacey Vanek Smith, and was originally produced by Nick Fountain. This update was reported and produced by Willa Rubin and edited by Alex Goldmark.
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NPR Privacy PolicyWed, 17 Sep 2025 - 1712 - The U.S. now owns a big chunk of Intel. That’s a huge deal.
Last month, President Donald Trump announced an unusual deal. Intel, the biggest microchip maker in America, had agreed to give the United States a 10 percent stake in its business. That means the U.S. government is now Intel's largest shareholder — and a major American company is now a partially state-owned enterprise.
This deal has raised a lot of eyebrows. The U.S. government almost never gets tangled up with businesses like this. Some have accused the president of taking a step toward, well, socialism.
But the Intel deal didn’t come out of nowhere. It's actually the latest chapter in one of the most aggressive economic experiments the United States has ever attempted. An experiment that Trump is now taking in a surprising new direction.
On today's show, we unpack the Intel deal. Where did it come from, and what does it say about President Trump’s unconventional approach to managing the economy.
For more:
- The President's Golden Share in U.S. Steel
- Bringing a tariff to a graphite fight
- A controversial idea at the heart of Bidenomics
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This episode was hosted by Jeff Guo and Keith Romer. It was produced by Sam Yellowhorse Kesler. It was edited by Jess Jiang and fact-checked by Sierra Juarez. Engineering by Jimmy Keeley with help from Robert Rodriguez. Alex Goldmark is Planet Money’s executive producer.
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NPR Privacy PolicyFri, 12 Sep 2025 - 1711 - Asking for a friend … which jobs are safe from AI?
There’s one question we seem to be hearing everywhere: “Is my job safe from AI?”
Dozens of you, our listeners, have written to us about this. Saying things like, “Maybe my yoga teacher side gig is actually my safest bet now,” and “My parents were in real estate, and I never thought I’d say it ... but maybe that’s what I should do?”
If only there were a list that could tell you which jobs are safe from AI. We go looking for that list … and find that the AI future is going to be even weirder than we’d imagined.
Today on the show: We talk to two researchers who have come up with some first drafts of the future. We learned more about the machines that might be coming for our jobs, and also, more about what it actually means to be human.
Further Reading:
- GPTs are GPTs: Labor market impact potential of LLMs
- The EPOCH of AI: Human-Machine Complementarities at Work
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Today’s episode was produced by Eric Mennel and edited by Marianne McCune. It was fact-checked by Sierra Juarez and engineered by Robert Rodriguez. Alex Goldmark isPlanet Money's executive producer.
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NPR Privacy PolicyWed, 10 Sep 2025 - 1710 - What happens to central banks under pressure?
President Donald Trump has been pressuring the Federal Reserve from a few angles. So we wanted to look at other examples of political pressure on central banks, to see what it might mean for us and for the economy.
Enter the watchers. The people who’ve had their eyes trained on central banks all over the world, for years, notebooks out, scribbling down their observations. They’ve been trying to gauge just how independent of political pressure central banks actually are – and what happens when a central bank loses that independence.
Today on the show, we sidle up next to three of the leading central bank watchers, to watch what they’re watching.
Further reading:
- Carolina Garriga’s: Revisiting Central Bank Independence in the World: An Extended Dataset
- Lev Menand’s: A New Measure of Central Bank Independence
- Carola Binder’s: Political Pressure on Central Banks
Further listening:
- Lisa Cook and the fight for the Fed
- A primer on the Federal Reserve's independence
- The case for Fed independence in the Nixon tapes
- A Locked Door, A Secret Meeting And The Birth Of The Fed
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This episode was produced by Willa Rubin with help from Sam Yellowhorse Kesler. It was edited by Marianne McCune and fact-checked by Sierra Juarez. Engineering by Robert Rodriguez and Maggie Luthar. Alex Goldmark is Planet Money’s executive producer.
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NPR Privacy PolicySat, 06 Sep 2025 - 1709 - The million dollar mystery behind Milk.com
When we stumbled upon Milk.com, we were mystified. It appears to be someone’s personal website. But memorable domain names can be worth a million dollars or more. So, why is someone using this valuable internet real estate to post their resume and favorite recipes?
Back in the internet’s early days, it was easy to get a domain name. They were cheap or even free. The first people to grab them may now be holding onto assets that can sell for millions of dollars. These potential profits have attracted a unique breed of investor who buys and sells domain names, gambling on the value of everyday words.
On our latest show: What is a domain really worth? And we ask the owner of milk.com why he’s not selling — and if there’s a price that might change his mind.
Planet Money is writing a book!Sign upfor updates about pre-sale special gifts and for book tour events.
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This episode was hosted by Alex Mayyasi and Jeff Guo. It was produced by Willa Rubin and edited by Jess Jiang. It was fact-checked by Sierra Juarez and engineered by James Willetts. Alex Goldmark isPlanet Money's executive producer.
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NPR Privacy PolicyWed, 03 Sep 2025 - 1708 - Lisa Cook and the fight for the Fed
The Federal Reserve has been under intense pressure from President Donald Trump as he pushes for more control over the historically independent agency. The Fed is tasked with keeping inflation and unemployment under control, and it’s supposed to be insulated from politics so it can do whatever is necessary for the economy. But Trump has been openly saying he wants interest rates to be lower. A lot lower.
And on Monday, Trump posted a bombshell. He said that he was removing Federal Reserve governor Lisa Cook, “for cause.” Lisa Cook has told NPR she intends to remain in office, and is now suing Trump.
On today’s show: inside the Fed Board of Governors. How realistic is a plan to control monetary policy through loyalists on the Board? We hear from former Board governors to understand what the job is, and what we might be in for.
Further listening on the Fed and Fed independence:
- A primer on the Federal Reserve's independence
- Happy Fed Independence Day
- The case for Fed independence in the Nixon tapes
- A Locked Door, A Secret Meeting And The Birth Of The Fed
- Trump's unprecedented attack on the Fed
- Turkey's runaway inflation problem
- Should presidents have more of a say in interest rates?
Listen free at these links:Apple Podcasts,Spotify,the NPR appor anywhere you get podcasts.
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NPR Privacy PolicyFri, 29 Aug 2025 - 1707 - Summer School 8: Graduation LIVE!Get your own personalized summer school diploma here.
Today on our final episode of Summer School 2025, we will test your knowledge. We will salute the unsung heroes of government service. And we will pick our valedictorian from among you of the class of 2025.
Editorial Note:
President Trump attempted to fire Lisa Cook, a Biden appointee to the Federal Reserve Board. Our daily podcast, The Indicator, has coverage on their latest episode. We’ll have an episode in the Planet Money feed soon, in the meantime, here’s some background listening on why this is so important.
Years before she joined the Fed, we profiled the work of Lisa Cook. Listen here.
Also these:
Happy Fed Independence Day
A primer on the Federal Reserve's independence
The case for Fed independence in the Nixon tapes
Turkey's runaway inflation problem
Arthur Burns: shorthand for Fed failure?
Should presidents have more of a say in interest rates?
Can the Federal Reserve stay independent?
It's hard out there for a Fed chair
The series is hosted by Robert Smith and produced by Eric Mennel. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Emily Crawford.
Always free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.
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NPR Privacy PolicyWed, 27 Aug 2025 - 1706 - Buy discount Ozempic here now click this link
In the past couple years, demand has gone wild for drugs like Ozempic – and its cousins, Zepbound, Wegovy, and Mounjaro. For people who had never been able to lose weight before, suddenly the numbers on the scale were plummeting. And everybody wanted to get their hands on them.
Now, in most industries, if a product goes viral like this, it’s a golden ticket. And thanks to government-granted monopolies designed to encourage innovation, the big drug companies behind these blockbuster injections are currently the only ones allowed to make them.
In theory, anyway.
But, what if that explosive demand backfired, opening the door to legal knock-offs? You’ve maybe seen them - copycats advertised as the same thing as Ozempic. So, what’s the difference? And just how legal are they? On today’s show - a drug that’s changing people's lives is also challenging the traditional way we buy and sell medicine.
This episode was hosted by Sydney Lupkin and Jeff Guo. It was produced by James Sneed. It was edited by Marianne McCune, fact-checked by Sierra Juarez, and engineered by Gilly Moon and Debbie Daughtry. Alex Goldmark is Planet Money’s executive producer.
Listen free at these links:Apple Podcasts,Spotify,the NPR appor anywhere you get podcasts.
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Music: Source Audio - “Subtly Silly Thug,” “Got The Moves,” and “Vive le Punk”
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NPR Privacy PolicyFri, 22 Aug 2025 - 1705 - Summer School 7: Trade blocks and blockages
Tariffs are the favorite tool of our current president, but there are lots of other ways that governments insert themselves into the free exchange of goods and services. Some of these trade barriers are so insidious and have been going on for so long that it may surprise you that they even exist.
We bring you the classic story of what happens when you try to protect an American industry and end up hurting another American industry. Well intentioned plans turn into trade barriers that make our lives more expensive.
Check out our Summer School video cheat sheet TikTok.
Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+in Apple Podcastsor atplus.npr.org/planetmoney.
Always free at these links:Apple Podcasts,Spotify,the NPR appor anywhere you get podcasts.
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The series is hosted by Robert Smith and produced by Eric Mennel. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Emily Crawford.
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NPR Privacy PolicyWed, 20 Aug 2025 - 1704 - When our inflation infeelings don’t match the CPI
For most Americans, we just lived through the highest period of inflation in our lives. And we are reminded of this every time we go grocery shopping. All over TikTok, tons of people have posted videos of how little they got for… $20. $40. $100. Most upsetting to us: an $8 box of Cinnamon Toast Crunch.
Food prices are almost 30% higher than they were five years ago. It’s bad. And those new, higher prices aren’t going away.
At the same time, prices are no longer inflating at a wild pace. For the last two years, the rate of inflation has slowed way down. And yet, our fears or feelings that things will spiral out of control again? Those have not slowed down.
This mismatch has been giving us all the... feelings. Inflation feelings. Infeelings.
On our latest show: we sort through our infeeltions. We talk to the economists who have studied us. We learn why our personal inflation calculators don’t always match the professional ones.
Listen free at these links:Apple Podcasts,Spotify,the NPR appor anywhere you get podcasts.
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NPR Privacy PolicyFri, 15 Aug 2025 - 1703 - Summer School 6: When the markets need a designer
In economics, a market is a place (even virtual) where buyers and sellers meet to exchange goods or services. Economists love markets. It's like all of our supply and demand graphs have come to life. Almost everything you buy goes through some sort of marketplace—your cup of coffee came from trading in the bean markets. Your spouse might have come from the dating marketplace on the apps. Even kids will tell you one Snickers is worth at least two Twix.
But sometimes, as we'll see today, markets can go terribly wrong; greed can run out of control; lives can be at risk. That's when the government often steps in and gives the market a little nudge to work better. Today's episode: Market Design.
The series is hosted by Robert Smith and produced by Eric Mennel. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Emily Crawford.
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NPR Privacy PolicyWed, 13 Aug 2025 - 1702 - What happens when governments cook the books
After President Trump fired the head of the Bureau of Labor Statistics, economists and statisticians across the board were horrified. Because the firing raises the spectre of potential manipulation – and it raises the worry that, in the future, the numbers won't be as trustworthy.
So: we looked at two countries that have some experience with data manipulation. To ask what happens when governments get tempted to cook the books. And...once they cook the books... how hard is it to UN-cook them?
It's two statistical historical cautionary tales. First, we learn how Argentina tried to mask its true inflation rate, and how that effort backfired. Then, we hear about the difficult process of cleaning up the post-cooked-book mess, in Greece.
For more:
- Can we just change how we measure GDP?
- The price of lettuce in Brooklyn
- What really goes on at the Bureau of Labor Statistics (Update)
- Can we still trust the monthly jobs report? (Update)
- How office politics could take down Europe
- The amazing shrinking economy might stop shrinking
Listen free at these links:Apple Podcasts,Spotify,the NPR appor anywhere you get podcasts.
Find morePlanet Money:Facebook/Instagram/TikTok/ Our weeklyNewsletter.
Support Planet Money, get bonus episodes and sponsor-free listening and now Summer School episodes one week early by subscribing to Planet Money+in Apple Podcastsor atplus.npr.org/planetmoney.
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NPR Privacy PolicySat, 09 Aug 2025 - 1701 - Summer School 5: The many ways governments influence industry
LIVE SHOW: August 18th in Brooklyn. Tickets here.
Traditional economics says the market is guided by the forces of supply and demand. Customers decide what they want to buy, and private enterprise responds to that need.
So what makes government think that it's smarter than capitalism? Why offer tax breaks to Hollywood or incentives to build silicon chip factories in Arizona? Why those industries and not others? And when does the free market fail and need government to step in?
Today, we discuss what happens when the government really wants to get its hands dirty and shape the direction of the economy, even decide which companies should prosper and which ones should fail, through industrial policy.
The series is hosted by Robert Smith and produced by Eric Mennel. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Emily Crawford.
Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+in Apple Podcastsor atplus.npr.org/planetmoney.
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NPR Privacy PolicyWed, 06 Aug 2025 - 1700 - Would you trust an economist with your economy?
Trust in experts is down. In all kinds of institutions and professions - in government, in media, in medical science... and lately, economists are feeling the burn acutely. In fact, President Trump just fired the economist who ran the Bureau of Labor Statistics, accusing her – with no evidence – of faking a jobs report that showed fewer gains than expected.
In decades past, economists whispered in the ears of presidents. Now, many politicians and voters are disenchanted with the field.
On today's show, we speak with economists about how distrust is messing with their minds and interfering with their work. Can they build up trust again?
Today's episode was hosted by Amanda Aronczyk. It was produced by Sam Yellowhorse Kesler and edited by Marianne McCune with help from Jess Jiang. It was engineered by Robert Rodriguez and fact-checked by Sierra Juarez. Alex Goldmark isPlanet Money's executive producer.
Listen free at these links:Apple Podcasts,Spotify,the NPR appor anywhere you get podcasts.
Find morePlanet Money:Facebook/Instagram/TikTok/ Our weeklyNewsletter.
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NPR Privacy PolicySat, 02 Aug 2025 - 1699 - Summer School 4: Who are all these regulations protecting?
LIVE SHOW: August 18th in Brooklyn. Tickets here.
There are occasional incentives in business that make it very profitable to do bad things; maybe cheat at the game and steal other people's ideas, or cut some corners on safety. In theory, the government as referee steps in to make the rules and enforce them, and manage competition in a way that hopefully makes things better for us all.
But you have to ask... When is the government protecting you and when is it protecting the already rich and powerful?
We'll meet a man trying to corner the market for frozen meat, with the help of patents. And then we'll head to the salon, and ask — Should the government really require dozens of hours of training for a license to braid hair?
Get tickets to our August 18th live show and graduation ceremony at The Bell House, in Brooklyn. (Planet Money+ supporters get a 10 percent discount off their tickets. Listen to the July 8th bonus episode to get the code!)
The series is hosted by Robert Smith and produced by Eric Mennel. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Sofia Shchukina.
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NPR Privacy PolicyWed, 30 Jul 2025 - 1698 - The President's Golden Share in U.S. SteelLIVE SHOW ALERT:August 18th, NYC. Get your tickets here.
When news broke that a Japanese company, Nippon Steel, was buying the storied American steel company U.S. Steel, it was still 2023, just before an election.
And right away, politicians from both sides of the aisle came out forcefully against the deal, saying the company should remain American. Before leaving office, President Biden even blocked the sale.
But in a dramatic twist a few weeks ago, President Trump approved it. With a caveat: the U.S. would get what Trump called 'a golden share' in U.S. Steel.
On our latest show: what even is a "golden share"? When has it been used before, and why? And, could deals like this be a good way to get foreign investment in American manufacturing...or is it government overreach?
Related episodes:
- When Uncle Sam owned banks and factories
- How Big Steel in the U.S. fell
This episode was produced by Willa Rubin and edited by Marianne McCune. Research help from Emily Crawford and Emma Peaslee. It was fact-checked by Sierra Juarez and engineered by Robert Rodriguez. Alex Goldmark is our executive producer.
Support Planet Money, get bonus episodes, sponsor-free listening and now Summer School episodes one week early by subscribing to Planet Money+in Apple Podcastsor atplus.npr.org/planetmoney.
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NPR Privacy PolicyFri, 25 Jul 2025 - 1697 - Summer School 3: How government decides what to spend our money on
Although it seems like the government can spend an endless amount of money, it cannot actually do all the things it wants to do. So the big question in this week's lesson is: How do we decide? Why does the government spend so much money on some things and not on others? And honestly, is there any limit?Get tickets to our August 18th live show and graduation ceremony at The Bell House, in Brooklyn. (Planet Money+ supporters get a 10 percent discount off their tickets. Listen to the July 8th bonus episode to get the discount code!)The series is hosted by Robert Smith and produced by Eric Mennel. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Emily Crawford.Help support Planet Money and hear our bonus episodes by subscribing toPlanet Money+in Apple Podcasts or atplus.npr.org/planetmoney.Always free at these links:Apple Podcasts,Spotify,the NPR appor anywhere you get podcasts.Find more Planet Money:Facebook/Instagram/TikTok/ Ourweekly Newsletter.
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NPR Privacy PolicyWed, 23 Jul 2025 - 1696 - Why are we so obsessed with manufacturing?
It seems like politicians cannot agree on a lot. But many seem to agree on... manufacturing. Leaders of both political parties have been working to try and make the U.S. a manufacturing powerhouse again.
On today's show, what is so special about manufacturing? Is it particularly important for the economy? And if manufacturing jobs are so great, then why have companies been struggling to fill the manufacturing jobs we already have?
For more on manufacturing in the U.S:
- Made in America, an episode about what manufacturing work in the U.S. can be like for garment workers and how much they're paid to make each piece of clothing "made in the U.S."
- Why aren't Americans filling the manufacturing jobs we already have?
- What makes manufacturing jobs special? The answer could help rebuild the middle class
- Can bringing back manufacturing help the heartland catch up with 'superstar' cities?
- And, for more, check out the Planet Money newsletter's manufacturing series at npr.org/manufacturing.
Find more Planet Money:Facebook/Instagram/TikTok/ Our weeklyNewsletter.
Listen free at these links: Apple Podcasts,Spotify,the NPR appor anywhere you get podcasts.
Support Planet Money, get bonus episodes, sponsor-free listening, and now early access to new episodes of Summer School by signing up for Planet Money+ inApple Podcastsor atplus.npr.org/planetmoney.
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NPR Privacy PolicyFri, 18 Jul 2025 - 1695 - Congress has voted to eliminate government funding for public media
Act now to ensure public media remains free and accessible to all. Your donation will help this essential American service survive and thrive. Visit donate.npr.org now.
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NPR Privacy PolicyFri, 18 Jul 2025 - 1694 - Summer School 2: How taxes change behavior and the economy
We all know the government uses taxes to pay for things. But what about using taxes to control behavior? This week on Summer School, Professor Darrick Hamilton of The New School, helps us explore the true power of the tax code. Can taxes help lift people out of poverty? What about saving the planet?
Get tickets to our August 18th live show and graduation ceremony at The Bell House, in Brooklyn. (Planet Money+ supporters get a 10 percent discount off their tickets. Listen to the July 8th bonus episode to get the discount code!)
The series is hosted by Robert Smith and produced by Eric Mennel. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Emily Crawford and Sierra Juarez. Engineering by Robert Rodriguez.
Always free at these links:Apple Podcasts,Spotify,the NPR appor anywhere you get podcasts.
Find more Planet Money:Facebook/Instagram/TikTok/ Our weeklyNewsletter.
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NPR Privacy PolicyWed, 16 Jul 2025 - 1693 - Made in America
What people might picture when they think of "Made in America" ... might not look like the "Made in America" we have today.
The U.S. does have a domestic manufacturing industry, including a garment manufacturing industry.
In today's episode: We buy a garment made by factory workers in the U.S. – a basic purple sports bra – and learn how many people it took to make it, how much workers got paid to work on it ... and whether garment manufacturing is a job Americans want, or even know how, to do.
Plus: why domestic garment manufacturing exists at all in the U.S., and whether the industry can grow.
Other episodes:
- What "Made in China" actually means
This episode was reported and hosted by Sarah Gonzalez. It was produced by Willa Rubin with production help from Emma Peaslee. It was edited by Marianne McCune, and it was fact-checked by Sierra Juarez who also helped with research. It was engineered by Robert Rodriguez. Alex Goldmark is our executive producer.
Support Planet Money, get bonus episodes and sponsor-free listening and now Summer School episodes one week early by subscribing to Planet Money+in Apple Podcastsor atplus.npr.org/planetmoney.
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NPR Privacy PolicyFri, 11 Jul 2025 - 1692 - Summer School 1: A government's role in the economy is to make us all richer
Government. The Big G. We like to imagine the free market and the invisible hand as being independent from political influence. But Nobel laureate, Simon Johnson, says that influence has been there since the birth of economics. Call it political economy. Call it government and business. Call it our big topic each Wednesday through Labor Day.
We're kicking off another semester of Planet Money Summer School asking the biggest question: Why are some nations rich and others poor? With stories from India, New York City and Peru, we look at the ways in which government bureaucracy can help make or break an economy.
Tickets for Planet Money Live at the Bell House available here. Planet Money+ supporters get a 10 percent discount off their tickets. Go to plus.npr.org to sign up, if you haven't already, and listen to the July 8th bonus episode to get the discount code.
Always free at these links:Apple Podcasts,Spotify,the NPR appor anywhere you get podcasts.
Find more Planet Money:Facebook/Instagram/TikTok/ Our weeklyNewsletter.
Planet Money+ supporters get early access to new episodes of Summer School this season! You also get sponsor-free listening, regular bonus episodes, and you'll help support the work of Planet Money.
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NPR Privacy PolicyWed, 09 Jul 2025 - 1691 - The simple math of the big bill
If we think about the economic effects of President Donald Trumps big taxing and spending and domestic policy bill, we can roughly sum it up in one line. It goes something like this:
We will make many big tax cuts permanent and pay for those tax cuts by cutting Medicaid and a few other things and also...by borrowing money.
A lot of money.
Even more than we've already been borrowing over the past twenty years. (And that was already a lot, too!)
Today: simple arithmetic with profound ramifications. Tax cuts, spending cuts, and whether they balance out. (Spoiler: no.)
We look under the hood to see how all this is calculated. And we ask: how will a bigger deficit play out for all of us, in our normal, regular lives?
We've covered a bunch more having to do with the big taxing and spending bill and the federal debt recently on Planet Money and our short daily show The Indicator:
- So, how's this No Tax On Tips thing gonna go?
- A thought experiment on how to fix the national debt problem
- The paperwork trap: A sneaky way to cut Medicaid in the 'One Big Beautiful Bill'?
- The debt limit, the origins of the X Date, and why it all matters
- What's a revenge tax?
- Is the federal debt REALLY that bad?
SupportPlanet Money, getbonus episodes and sponsor-free listening and now Summer School episodes one week early by subscribing toPlanet Money+in Apple Podcastsor atplus.npr.org/planetmoney.
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NPR Privacy PolicyFri, 04 Jul 2025 - 1690 - A thought experiment on how to fix the national debt problem
There's an economic fantasy you sometimes hear in D.C. It often gets trotted out when politicians are trying to add billions or trillions to the national debt. They claim that all the new spending will be worth it in the end because we will supercharge economic growth.
This fantasy recurs again and again, because economic growth is a potent force. Over the next few decades, tiny changes in how fast our economy grows could decide the fate of the federal government — whether we can bring the massive national debt under control or whether we spiral into a fiscal crisis.
Today on the show, we talk to three economists who have been sifting through the latest evidence. They're trying to figure out what the government could actually do to make the economy grow faster. Could we even grow fast enough to outrun our national debt?
For a list of citations, check out our episode page.
This episode of Planet Money was produced by Emma Peaslee with help from Sam Yellowhorse Kesler. It was edited by Jess Jiang. It was fact-checked by Sierra Juarez and engineered by Ko Takasugi-Czernowin. Alex Goldmark is Planet Money's executive producer.
Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.
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NPR Privacy PolicyWed, 02 Jul 2025 - 1689 - When Trump met crypto
In 2019, President Trump tweeted: "I am not a fan of Bitcoin and other Cryptocurrencies." Today, the Trumps are all over crypto.
There are memecoins for Trump and the first lady. They own a stablecoin, a bitcoin mining operation, and a crypto financial services company. And, at the Bitcoin 2025 conference, Trump's media group announced they're raising 2.5 billion dollars from investors to buy bitcoin.
At that same conference, speakers included two White House advisors, two sons of the US president, the son of the U.S. Commerce Secretary, and a Trump appointee to the Securities and Exchange Commission. For a cryptocurrency built on independence from big government, this was a swerve.
So, what happens when the President of the United States showers his love on the crypto community ... while also becoming a crypto entrepreneur himself? We follow along as Trump Inc.'s Ilya Marritz and Andrea Bernstein spend three days at the Las Vegas conference center where convicts are cheered, oversight and regulation are booed, and the separation of crypto and state no longer applies.
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NPR Privacy PolicyFri, 27 Jun 2025 - 1688 - Econ Battle Zone: Budget Showdown
Econ Battle Zone is back! On today's episode Mary Childs and Kenny Malone enter Econ Battle Stadium to throw down against reigning champion Erika Beras.
Can Mary explain what effect extending the 2017 tax cuts will have on economic growth AND make her entire segment rhyme? Will Erika be able to overcome her fear of singing and craft a country song about the history of Medicaid? Can Kenny put together a piece about what warning signs economists look for to know whether the national debt has grown too large... but as a romantic comedy?
Guest judges Betsey Stevenson and David Kestenbaum face a difficult choice... but only one contestant can claim the coveted Econ Battle Zone Belt.
Artists featured in this episode: Rexx Life Raj (IG: @rexxliferaj); Merle Hazard; Alison Brown; Tristan Scroggins; Matt Coles; and Garry West.
Special thanks to Liz Garton Scanlon, Robin Rudowitz and Sarah Rosenbaum.
Find morePlanet Money:Facebook/Instagram/TikTok/ Our weeklyNewsletter.
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NPR Privacy PolicyWed, 25 Jun 2025 - 1687 - The U.S. is the world's bribery cop. Is that about to change?
The U.S. has been policing bribery all over the world for nearly half a century using a law called the Foreign Corrupt Practices Act. But now, President Trump has said that this anti-corruption law is crippling American businesses. Since taking office, his administration has reduced the number of investigators, killed some cases, and changed the rules.
In this episode, we look at the FCPA case against Glencore, a large commodity trading company, found guilty in 2022 for paying cash bribes in exchange for lucrative contracts all over the world.
And we go back to the inception of the law, a time when using bribes to pay off foreign officials was considered "grease in the wheels" - a reasonable (if unethical) way to get business done.
This episode was hosted by Amanda Aronczyk and Erika Beras. It was produced by Willa Rubin. It was fact-checked by Emily Crawford with help from Willa Rubin. It was edited by Marianne McCune. It was engineered by James Willetts. Alex Goldmark isPlanet Money's executive producer.
Find morePlanet Money:Facebook/Instagram/TikTok/ Our weeklyNewsletter.
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NPR Privacy PolicyFri, 20 Jun 2025 - 1686 - Jay & Shai's debt ceiling adventure (Update)
Note: A version of this episode first ran in 2023.
Every year, the U.S. government spends more money than it takes in. In order to fund all that spending, the country takes on debt. Congress has the power to limit how much debt the U.S. takes on. Once we reach that limit, Congress has a few options so that the government keeps paying its bills: Raise the debt limit, suspend it, or eliminate it entirely.
Which is daunting, because if lawmakers don't figure something out in time, the ramifications for the global economy could be huge.
Shai Akabas, of the Bipartisan Policy Center, has become something of the go-to expert in calculating the exact date America would hit the wall and not be able to pay all its debts. This day is so terrifying it has a special name, the X-Date.
Today's episode is about how Akabas and Jay Powell — long before he became chair of the Federal Reserve — worked to create a system to determine the X-Date with the hope of helping us all never reach it.
We also have an update on this year's looming X-Date, which could arrive as soon as this summer.
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NPR Privacy PolicyThu, 19 Jun 2025 - 1685 - Why I joined DOGE
What was it like to work inside Elon Musk's DOGE? The cost-cutting initiative promised transparency, but most of its actions have been shrouded in secrecy.
For months, there were reports of software engineers and Trump loyalists entering agencies and accessing sensitive data. DOGE also helped the Trump administration lay off thousands of government workers. NPR reporters have been trying for months to get anyone from DOGE to talk on the record. Now, Sahil Lavingia, a former DOGE staffer assigned to the Department of Veteran Affairs, is speaking.
Today, what drew Sahil to DOGE and what he learned about the inner workings, in a way we've never heard before.
For more on DOGE and the federal workforce:
- The last time we shrank the federal workforce
- Can... we still trust the monthly jobs report?
- Can the Federal Reserve stay independent?
This episode was hosted by Kenny Malone and Bobby Allyn. It was produced by Sam Yellowhorse Kesler and Emma Peaslee. It was edited by Jess Jiang and fact-checked by Sierra Juarez. It was engineered by Neal Rauch. Alex Goldmark isPlanet Money's executive producer.
Find morePlanet Money:Facebook/Instagram/TikTok/ Our weeklyNewsletter.
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NPR Privacy PolicySat, 14 Jun 2025 - 1684 - Are Trump's tariffs legal?
When President Trump announced his sweeping new tariffs this year, many trade law experts were startled. Typically, presidents don't have the authority to impose broad tariffs with a snap of their fingers.
But Trump's advisors have an unusual new legal theory. They say that as long as there's a national emergency of some kind, Trump may be able to create whatever tariffs he wants. This is a creative interpretation of a 1977 law called the International Emergency Economic Powers Act, or IEEPA. To justify his latest tariffs, the president declared national emergencies involving illegal immigration, the fentanyl crisis, and the trade deficit.
But no president has ever tried to use the law in this way.
Now, the fate of Trump's tariffs — and the creative legal theory behind them — lies with the courts. About a dozen lawsuits have challenged his tariffs, claiming that they are unlawful and possibly even unconstitutional. And some judges have started to agree.
On today's show: What are the President's powers when it comes to tariffs? Where do they come from? What are their limits? And, what will be the fate of Trump's tariffs?
For more on Trump's tariffs:
- The 145% tariff already did its damage
- Do trade deficits matter?
- What "Made in China" actually means
Find morePlanet Money:Facebook/Instagram/TikTok/ Our weeklyNewsletter.
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NPR Privacy PolicyWed, 11 Jun 2025 - 1683 - When Chinese manufacturing met Small Town, USA
Over the past decade, politicians from both parties have courted American voters with an enticing economic prospect – the dream of bringing manufacturing and manufacturing jobs back to America. They've pushed for that dream with tariffs and tax breaks and subsidies. But what happens when one multinational company actually responds to those incentives, and tries to set up shop in Small Town, USA?
Today on the show – how a battery factory ignited a political firestorm over what kind of factories we actually want in our backyard. And what happens when the global economy meets town hall democracy.
This episode of Planet Money was produced by Emma Peaslee and Sylvie Douglis. It was edited by Marianne McCune and Jess Jiang. It was fact-checked by Sierra Juarez. It was engineered by Robert Rodriguez. Alex Goldmark is our executive producer.
Read Viola Zhou's reporting on the Gotion battery factory.
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Music: NPR Source Audio - "Collectible Kicks," "Arturo's Revenge," and "Liquid Courage"
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NPR Privacy PolicyFri, 06 Jun 2025 - 1682 - Trump's crypto interests (Two Indicators)
Today on the show – our crypto president. Just before President Donald Trump began his second administration in January, he and his business partners launched the $TRUMP coin. It's a memecoin that quickly raked in hundreds of millions of dollars. And there's a lot of earning potential still left on the table. Is that even legal?
We bring you two stories from our daily show, The Indicator about President Trump and his ties to crypto. First, the Trump coin. We explain what it is, how the real Donald Trump profits from it, and yes, whether this whole crypto scheme is within the law. Then we take a look at Stablecoins: how they work, how they make money, and for whom.
The original episodes fromThe Indicatorwere produced by Cooper Katz McKim and Corey Bridges. They were engineered by Harry Paul and Robert Rodriguez. They were fact-checked by Sierra Juarez. Kate Concannon edits the show. This episode ofPlanet Moneywas produced by James Sneed and edited by Emma Peaslee. Alex Goldmark isPlanet Money's executive producer.
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NPR Privacy PolicyWed, 04 Jun 2025 - 1681 - The U.S.-China trade war, according to game theory
Over the last few months U.S.-China trade relations have been pretty hard to make sense of – unless you look at what's happening through the lens of game theory. Game theory is all about how decisions are made, based not just on one side's options and payoffs, but on the choices and incentives of others.
So, are Donald Trump and Xi Jinping competing in a simple game of chicken? Or is the game more like the prisoner's dilemma? On today's show, we try to decide which of four possibilities might be the best model for this incredibly high-stakes game. And we take a look at who is playing well and who might need to adjust their strategy.
For more on the U.S.-China trade war:
- The 145% tariff already did its damage
- What happened to U.S. farmers during the last trade war
- What "Made in China" actually means
This show was hosted by Keith Romer and Amanda Aronczyk. It was produced by Sam Yellowhorse Kesler. It was edited by Jess Jiang, fact-checked by Sierra Juarez and engineered by Kwesi Lee with help from Robert Rodriguez and Cena Lofreddo. Additional production help from Sylvie Douglis. Alex Goldmark isPlanet Money's executive producer.
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NPR Privacy PolicyFri, 30 May 2025 - 1680 - Why does the government fund research at universities?
American universities are where people go to learn and teach. They're also where research and development happens. Over the past eight decades, universities have received billions in federal dollars to help that happen. Those dollars have contributed to innovations like: Drone technology. Inhalable Covid vaccines. Google search code.
The Trump administration is cutting or threatening to cut federal funding for research. Federal funding for all kinds of science is at its lowest level in decades.
Today on the show: when did the government start funding research at universities? And will massive cuts mean the end of universities as we know them?
We hear from the man who first pushed the government to fund university research and we talk to the chancellor of a big research school, Washington University in St. Louis. He opens up his books to show us how his school gets funded and what it would mean if that funding went away.
This episode is part of our series Pax Americana, about how the Trump administration and others are challenging a set of post-World War II policies that placed the U.S. at the center of the economic universe. Listen to our episode about the reign of the dollar.
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NPR Privacy PolicyWed, 28 May 2025 - 1679 - The secret world behind those scammy text messages
You might have seen these texts before. The scam starts innocently enough. Maybe it's a "Long time no see" or "Hello" or "How are you." For investigative reporter Zeke Faux it was – "Hi David, I'm Vicky Ho. Don't you remember me?"
Many people ignore them. But Zeke responded. He wanted to get scammed. This led him on a journey halfway around the world to find out who is sending him random wrong number texts and why. After you hear this story, you'll never look at these messages the same way again.
To hear the full episode check outSearch Engine's website.
Search Engine was created by P.J. Vogt and Sruthi Pinnamaneni. This episode was produced by Garrott Graham and Noah John. It was fact-checked by Sean Merchant. Theme, original composition, and mixing by Armin Bazarian. Search Engine's executive producers are Jenna Weiss-Berman and Leah Reis-Dennis.
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NPR Privacy PolicyFri, 23 May 2025 - 1678 - How economists (and TikTok) know if a recession is coming
Lately we've noticed that something we think about all the time here at Planet Money is having a viral moment: recession indicators!
From the more practical (like sales for lipstick going up and men's underwear going down) to the absurd and nonsensical (like babysitter buns coming back into style?) — people are posting to social media every little sign they see that a recession is coming. And we LOVE it. Because between the trade war and the tariffs and the stock market, there has been a lot of economic uncertainty over the last few months and we want to talk about it, too.
Today on the show — we dig into the slightly wonkier indicators that economists look at when they're trying to answer the question behind the viral internet trend: Is a recession coming?
This episode of Planet Money was produced by James Sneed. It was edited by Marianne McCune, fact-checked by Sarah McClure, and engineered by Cena Loffredo. Alex Goldmark is our executive producer.
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NPR Privacy PolicyWed, 21 May 2025 - 1677 - The 145% tariff already did its damage
Even though the 145% tariff on Chinese imports only lasted a month, it already inflicted its scars on the economy. Global trade is just not something you can turn off and on like that.
Some companies got really unlucky. Like those whose goods arrived at U.S. ports before the pause. If a medium size company had a million dollars worth of goods imported, they had to pay an extra million and a half dollars on top of that – just for the tariff.
Today we are bringing you a portrait of this unfathomably high tariff. What a month of 145% tariffs looked like and felt like for three people in the global economy whose lives were all affected and still will be. The ones who got lucky and the ones who got really unlucky.
This episode of Planet Money was produced by Emma Peaslee and edited by Jess Jiang. It was engineered by Jimmy Keeley and fact-checked by Willa Rubin. Alex Goldmark is our executive producer.
Check out the live cargo map here.
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NPR Privacy PolicyFri, 16 May 2025 - 1676 - What happened to U.S. farmers during the last trade war
The U.S. exports billions of dollars worth of agricultural products each year — things like soybeans, corn and pork. And over the last month, these exports have been caught up in a trade war.
U.S. farmers have been collateral damage in a trade war before. In 2018, President Trump put tariffs on a bunch of Chinese products including flatscreen TVs, medical devices and batteries. But China matched those tariffs with their own retaliatory tariffs. They put tariffs on a lot of U.S. agricultural products they'd been buying, like soybeans, sorghum, and livestock. That choice looked strategic. Hitting these products with tariffs hurt Trump's voter base and might help China in a negotiation. And in some cases, China could find affordable alternative options from other countries.
Today on the show: what happened in 2018, how the government prevented some U.S. farms from going bankrupt, and what was lost even after the trade war ended.
This episode was produced by Sylvie Douglis and edited by Jess Jiang. It was engineered by Robert Rodriguez and fact-checked by Sierra Juarez. Alex Goldmark is our executive producer.
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NPR Privacy PolicyWed, 14 May 2025 - 1675 - Is the reign of the dollar over?
For decades, dollars have been the world's common financial language. Central banks everywhere hold dollars as a way to safely store their wealth. Countries, businesses, and people use it to trade; around 90% of all foreign exchange transactions involve dollars. It's the world's money, the world's "reserve currency."
But what if that is changing? What if the world stops seeing the dollar as safe?
Today on the show, what is a "reserve currency"? Why is it the dollar? And if the dollar falls from favor, what will replace it?
This episode of Planet Money was produced by Emma Peaslee with help from James Sneed. It was edited by Marianne McCune with fact checking help from Sierra Juarez. It was engineered by Kwesi Lee. Alex Goldmark is our executive producer.
The Dollar Trap by Eswar Prasad
Exorbitant Privilege by Barry Eichengreen
Our Dollar. Your Problem by Ken Rogoff
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NPR Privacy PolicyFri, 09 May 2025 - 1674 - What "Made in China" actually means
Virtually every product brought into the United States must have a so-called "country of origin." Think of it as the official place it comes from. And this is the country that counts for calculating tariffs.
But what does it really mean when something is a "Product of China"? How much of it actually comes from China? And how do customs officials draw the line?
Here in the U.S., the rules are delightfully counterintuitive. A product's country of origin is not necessarily where that product got on the container ship to come here. It's not necessarily where most of its ingredients are from or even where most of the manufacturing happened.
Our system is much stranger. The answers can be surprisingly philosophical — and at times, even poetic.
This episode of Planet Money was produced by James Sneed with help from Sylvie Douglis. It was edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Kwesi Lee. Alex Goldmark is our executive producer.
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NPR Privacy PolicyWed, 07 May 2025 - 1673 - Why it's so hard to find a public toilet
Why is it so hard to find a bathroom when you need one?
In the U.S., we used to have lots of publicly accessible toilets. But many had locks on the doors and you had to put in a coin to use them. Pay toilets created a system of haves and have nots when it came to bathroom access. So in the 60s, movements sprung up to ban pay toilets.
Problem is: when the pay toilets went away, so too did many free public toilets.
Today on the show, how toilets exist in a legal and economic netherworld; they're not quite a public good, not quite a problem the free market can solve.
Why we're stuck, needing to go, with nowhere to go.
This episode was produced by Willa Rubin with help from James Sneed. It was edited by Marianne McCune and engineered by Cena Loffredo. It was fact-checked by Sierra Juarez. Alex Goldmark is our executive producer.
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Music: Audio Network - "Smoke Rings," "Can't Walk Away" and "Bright Crystals."
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NPR Privacy PolicyFri, 02 May 2025 - 1672 - Planet Money complains. To learn.
On today's show: we're ... venting.
We at Planet Money are an ensemble show – each with different curiosities and styles. But we recently realized many of us have something in common: We're annoyed consumers.
So we're going to get ranty ... but then try to understand the people annoying us. Like stingy coffee shops, manufacturers that don't design things for repair ... and stores that send way too many emails every day.
Along the way, we learn a very sad thing about satisfaction and the future of skilled labor in the U.S.
(Also, we should all just stop using umbrellas. They have negative consumption externalities. Come on people.)
This episode was produced by James Sneed. It was edited by Marianne McCune, fact-checked by Sierra Juarez, and engineered by James Willetts. Alex Goldmark is our executive producer.
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NPR Privacy PolicyWed, 30 Apr 2025 - 1671 - How 23andMe's bankruptcy led to a run on the gene bank
Reporter Alexi Horowitz-Ghazi's Aunt Vovi signed up for 23andMe back in 2017, hoping to learn more about the genetic makeup of her ancestors. Vovi was one of over 15 million 23andMe customers who sent their saliva off to be analyzed by the company.
But last month, 23andMe filed for bankruptcy, and it announced it would be selling off that massive genetic database. Today on the show, what might happen to Vovi's genetic data as 23andMe works its way through the bankruptcy process, how the bankruptcy system has treated consumer data privacy in the past, and what this case reveals about the data that all of us willingly hand over to companies every single day.
This episode was produced by Sylvie Douglis and edited by Jess Jiang. It was engineered by Harry Pauland Neal Rauch and fact-checked by Tyler Jones. Alex Goldmark is our executive producer.
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NPR Privacy PolicySat, 26 Apr 2025 - 1670 - A primer on the Federal Reserve's independence
President Donald Trump has been loudly critical of Federal Reserve Chair Jerome Powell for years now. Since January, the President has accused him of playing politics by keeping interest rates high. Trump has also threatened to oust Powell — which would mark an extraordinary shift away from the independence of the central bank.
Today on the show, three Indicators: a short history of the Federal Reserve and why it's insulated from day-to-day politics; how the Fed amassed a ton of power in recent years; and a Trump executive order that took some of that power away.
The original episodes from the Indicator were produced by Corey Bridges, Brittany Cronin, and Julia Ritchey. They were engineered by Cena Loffredo, James Willetts, and Gilly Moon, and fact-checked by Sierra Juarez. Kate Concannon is the editor of the Indicator. Follow us wherever you get your podcasts.
This episode of Planet Money was produced by James Sneed and edited by Marianne McCune & Mary Childs. Alex Goldmark is our executive producer.
For more of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or atplus.npr.org. Or, find us:TikTok,Instagram,Facebook.
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NPR Privacy PolicyWed, 23 Apr 2025 - 1669 - How much for that egg
Recently, one of our NPR colleagues wrote a message to all of NPR saying he had extra eggs to sell for cheap, but needed a fair way to distribute them during a shortage. What is Planet Money here for if not to get OVERLY involved in this kind of situation?
Our colleague didn't want to charge more than $5, so we couldn't just auction the eggs off. A lottery? Too boring, he said.
Okay! A very Planet Money puzzle to solve.
Today on the show, we go in search of novel systems to help our colleague decide who gets his scarce resource: cheap, farm-fresh eggs. We steal from the world of new product development to try and secretly test for egg love, and we discover a pricing method used in development economics that may be America's next great gameshow.
This episode of Planet Money was produced by Emma Peaslee and it was edited by Marianne McCune. It was fact checked by Sierra Juarez and engineered by Jimmy Keeley. Alex Goldmark is our executive producer.
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NPR Privacy PolicyFri, 18 Apr 2025 - 1668 - OIRA: The tiny office that's about to remake the federal government
OIRA — the Office of Information and Regulatory Affairs — is an obscure, but powerful federal office around the corner from the White House. President Trump has decided that it should get even more powerful.
For the last 45 years, OIRA has overseen most federal agencies by reviewing proposed regulations to make sure they agree with the President's policies and don't conflict with the work of other agencies. But one set of federal agencies has always been exempt from this review process — independent federal agencies like the SEC, FTC, FCC, and Federal Reserve. Until now.
According to a new executive order, those independent agencies are about to get a lot less independent. We take a look at what this change could mean for financial markets...and the future of American democracy.
This episode was produced by James Sneed and Willa Rubin. It was edited by Jess Jiang and engineered by Jimmy Keeley. It was fact-checked by Sierra Juarez. Alex Goldmark is our executive producer.
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NPR Privacy PolicyWed, 16 Apr 2025 - 1667 - Trade war dispatch from Canada
How do you run a business when a trade war is brewing? As President Trump's tariffs kick in - or are paused or are restarted - businesses around the world are trying to navigate the uncertainty.
And, while trade is this big global thing, it is made up of individual farmers and business owners and truckers and manufacturers. Millions of people all over the world are being forced to reevaluate relationships that they've been building for years.
Canadians have had a head start - Trump announced his plan to tariff Canadian goods on day one in office. So in today's episode: how one Canadian small business is trying to manage the chaos.
This episode was produced by Sylvie Douglis and edited by Sally Helm. It was engineered by Cena Loffredo and fact-checked by Sierra Juarez. Alex Goldmark is our executive producer.
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NPR Privacy PolicyFri, 11 Apr 2025 - 1666 - Do trade deficits matter?
At the heart of President Trump's tariffs is this idea that we should not be buying more from other countries than they are buying from us. Basically, he wants to get rid of the trade deficit.
And in the wake of the tariff announcement we got a LOT of questions from listeners about what that means. Do trade deficits matter? Is it bad to have a trade deficit? Are we getting ripped off?
Today on the show – we tackle those questions.
This episode of Planet Money was produced by Emma Peaslee and edited by Marianne McCune and Kenny Malone. It was fact checked by Sarah McClure and engineered by Kwesi Lee. Alex Goldmark is our executive producer.
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NPR Privacy PolicyWed, 09 Apr 2025 - 1665 - How the War on Drugs got us... blueberries
Ever wondered why you can buy fresh Peruvian blueberries in the dead of winter? The answer, surprisingly, is tied to cocaine. Today on the show, we look at how the War on Drugs led to an American trade policy and a foreign aid initiative that won us blueberries all year round.
And for more on trade and tariffs check out Planet Money's homepage. We've got articles looking at how much the new tariffs will raise prices and shows on everything from diamonds to potatoes to why you bought your couch.
This episode was produced by Sylvie Douglis with help from Willa Rubin. It was edited by Marianne McCune and engineered by Jimmy Keeley. It was fact-checked by Sierra Juarez. Alex Goldmark is our executive producer.
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NPR Privacy PolicyFri, 04 Apr 2025 - 1664 - Tariffs: What are they good for?
What are tariffs good for?
For years, mainstream economists have basically said: tariffs are not good. They are an import tax paid by consumers, they've said, and they discourage free trade, and we want more! Because free trade has broadly led to more global economic growth.
But global trade hasn't been all positive for Americans, and in the worldview of President Trump's administration, tariffs can be used to right some of those wrongs. And the U.S. has economic leverage. So if the U.S. wants to level the playing field, it should use that leverage, and use tariffs to accomplish its policy goals.
Today on the show: the case for tariffs. We talk to a lonely economist who's been sounding the alarm for years that more and free-er trade isn't always better. And we speak to economists in President Trump's orbit who make the case for how tariffs can be a potent economic and political tool.
This episode was produced by Willa Rubin and edited by Meg Cramer. It was fact-checked by Sarah McClure and engineered by James Willetts. Alex Goldmark is our executive producer.
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NPR Privacy PolicyWed, 02 Apr 2025
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