They should have died out when the lightbulb was invented. Instead they’re a $10 billion industry. What does it mean that we still want tiny fires inside our homes?
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.
Derek Fisher talks about the N.B.A.’s global reach.To get subscriber-only episodes, sign up for SiriusXM Podcasts+ on Apple Podcasts or by visiting siriusxm.com/podcastsplus.
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?
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 Podcasts or at plus.npr.org/planetmoney.
The former secretary of state isn’t a flamethrower, but he certainly has strong opinions. In this wide-ranging conversation with Stephen Dubner, he gives them all: on Israel, Gaza, China, Iran, Russia, Biden, Trump — and the rest of the world. The former secretary of state isn’t a flamethrower, but he certainly has strong opinions. In this wide-ranging conversation with Stephen Dubner, he gives them all: on Israel, Gaza, China, Iran, Russia, Biden, Trump — and the rest of the world.
On this episode, Peter Boettke chats with Mark Pennington on Mark's latest book, Foucault and Liberal Political Economy: Power, Knowledge, and Freedom (Oxford University Press, 2025). Pennington argues that Foucault's ideas on self-creation, disciplinary power, and biopolitics align with key liberal concerns about social control and individual agency. He critiques how both liberals and Foucauldian critics have misunderstood or ignored these connections, and drawing on thinkers like Hayek, Buchanan, and Ostrom, he calls for a liberalism that emphasizes pluralism, resists technocratic overreach, and engages more deeply with the insights of the humanities.
Dr. Mark Pennington is Professor of Political Economy and Public Policy in the Department of Political Economy at King’s College London. He holds a PhD from the London School of Economics and Political Science. Pennington is currently director of the Centre for the Study of Governance and Society.
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Virtual Sentiments, a podcast series from the Hayek Program, is streaming. Subscribe today and listen to season three, releasing now!
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.
Until recently, Delaware was almost universally agreed to be the best place for companies to incorporate. Now, with Elon Musk leading a corporate stampede out of the First State, we revisit an episode from 2023 that asked if Delaware’s “franchise” is wildly corrupt, wildly efficient … or both?
What goes into creating an episode of The Economics of Everyday Things? And how do shows like this one make money? Zachary Crockett turns the mic on himself.
SOURCES:
Gabe Tartaglia, vice president of podcast and satellite monetization at SiriusXM.
Gabe Roth, editorial director of the Freakonomics Radio Network.
Sarah Lilley, senior producer of The Economics of Everyday Things.
Jeremy Johnston, audio engineer at the Freakonomics Radio Network.