Category: 3-EconSometimeCommentary

The Gulf States and China are spending billions to build stadiums and buy up teams — but what are they really buying? And can an entrepreneur from Cincinnati make his own billions by bringing baseball to Dubai?

The post Why Governments Are Betting Big on Sports appeared first on Freakonomics.

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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.

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On this episode, Nathan Goodman speaks with Abby Hall on the "boomerang effect," where U.S. military tools and tactics used abroad—like drones—are repurposed for domestic border enforcement. Hall discusses how restrictive immigration policies, such as the Secure Fence Act and Operation Streamline, often lead to unintended consequences like increased migrant deaths and overwhelmed asylum systems. She advocates for more open immigration pathways to improve both humanitarian outcomes and resource allocation. The conversation also highlights how past U.S. interventions in Latin America have contributed to current migration patterns and emphasizes the importance of humility and flexibility in policy research.

Dr. Abigail R. Hall is an Associate Professor of Economics at the University of Tampa and a Senior Affiliated Scholar at the Mercatus Center at George Mason University. She has published numerous books, including her most recent satirical book, How to Run Wars: A Confidential Playbook for the National Security Elite co-authored with Christopher J. Coyne (2024). She holds a PhD in Economics from George Mason University and is an alum of the Mercatus PhD Fellowship.

Show Notes:

• Hall's article, "Border Fencing, Migrant Flows, and Crossing Deaths"
• Hall's article, "The Unintended Consequences of U.S. Asylum Policy"

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Virtual Sentiments, a podcast series from the Hayek Program, is streaming. Subscribe today and listen to season three, releasing now!

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CC Music: Twisterium

Before she decided to become a poker pro, Maria Konnikova didn’t know how many cards are in a deck. But she did have a Ph.D. in psychology, a brilliant coach, and a burning desire to know whether life is driven more by skill or chance. She found some answers in poker — and she’s willing to tell us everything she learned.

The post How to Make Your Own Luck (Update) appeared first on Freakonomics.

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When security cameras and facial recognition tools fail, law enforcement investigators fall back on a witness's memory and an artist's hand. Zachary Crockett's nose was a little bigger than that.

 

• SOURCES:
  • Lois Gibson, forensic artist.
  • David Sarni, adjunct professor at John Jay College of Criminal Justice.

 

• RESOURCES:
  • "Fighting Crime With Pencil and Paper," by J. David Goodman (New York Times, 2013)
  • "Something Sketchy About Identifying Suspects," by Stephen Owsinski (National Police Association).
  • "Forensic Art Certification Scope and Role," (International Association for Identification).
  • "Forensice Art Composites," (Samantha Steinberg).

 

 

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?

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 Podcasts or at plus.npr.org/planetmoney.

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Cory Booker on the politics of fear, the politics of hope, and how to split the difference.

The post “This Country Kicks My Ass All the Time” appeared first on Freakonomics.

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How does an industry built on roadside pop-ups make billions of dollars in two weeks of the year? Zachary Crockett gets pyrotechnical.

 

• SOURCES:
  • Alex Zoldan, vice president of Phantom Fireworks.

 

• RESOURCES:
  • Phantom Fireworks 2025 Wholesale Price List.
  • "The Explosive Growth Of The Fireworks Market," by Greg Rosalsky, Darian Woods, and Julian Ritchey (NPR, 2023).
  • "Directory of State Laws for Consumer Fireworks," (American Pyrotechnics Association).

 

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.

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A conversation with Golden Years author James Chappel. To get subscriber-only episodes, sign up for SiriusXM Podcasts+ on Apple Podcasts or by visiting siriusxm.com/podcastsplus.

The post The History of Old Age appeared first on Freakonomics.

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