Category: 3-EconSometimeCommentary

Those tiny treats that predict your future may come free at the end of a Chinese meal, but they’re big business (and not Chinese). Zachary Crockett will go on a long journey.

 

• SOURCES: 
  • Jennifer 8. Lee, documentarian and author of The Fortune Cookie Chronicles.
  • Norman Wong, C.E.O. of Wonton Food.

 

• RESOURCES: 
  • "Canadian Influencer’s Amazement at Absence of Fortune Cookies in China Restaurants Triggers Amusing Online Discussion About Origins of Snack," by Yating Yang (South China Morning Post, 2024).
  • "Fortune Cookies: They’re Japan’s Best-Kept Secret!" by Thalia Harris (Sakuraco, 2023).
  • "What I Learned Eating at 8,000 Chinese Restaurants," by Zhaoyin Feng (BBC News, 2021).
  • The Fortune Cookie Chronicles, by Jennifer 8. Lee (2008).
  • "Lottery Winners Find Good Fortune in Cookies," (NBC News, 2005).

 

• EXTRAS: 
  • "Girl Scout Cookies," by The Economics of Everyday Things (2023).

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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It has become fiendishly expensive to produce, and has more competition than ever. And yet the believers still believe. Why? And does the world really want a new musical about … Abraham Lincoln?! (Part one of a three-part series.)

The post How Is Live Theater Still Alive? appeared first on Freakonomics.

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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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Why do so many promising solutions in education, medicine, and criminal justice fail to scale up into great policy? And can a new breed of “implementation scientists” crack the code?

The post Policymaking Is Not a Science — Yet (Update) appeared first on Freakonomics.

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When you hit the slopes, you might not be thinking about water rights, controlled avalanches, and liability insurance — but someone has to. Zachary Crockett shreds the pow. 

 

• SOURCES:
  • Andrew Gast, general manager of Mt. Ashland Ski Area.
  • Rob Goodell, chief operating officer at Loveland Ski Area.

 

• RESOURCES:
  • "State of the U.S. Ski Industry" (National Ski Areas Association, 2024).
  • "U.S. Ski Resorts in Operation During 2023/24 Season" (National Ski Areas Association, 2024).
  • "Snowmaking 101" (Snow State).
  • Loveland Ski Area.
  • Mt. Ashland Ski Area.

 

• EXTRAS:
  • "What it Takes to Run a Nonprofit Ski Hill," by Lily Ritter (Ski, 2020).

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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There is no sludgier place in America than Washington, D.C. But there are signs of a change. We’ll hear about this progress — and ask where Elon Musk and DOGE fit in. (Part two of a two-part series.)

The post Sludge, Part 2: Is Government the Problem, or the Solution? appeared first on Freakonomics.

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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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On this episode of the Hayek Program Podcast, Nava Ashraf delivers a keynote lecture at the 2024 Markets & Society conference, exploring the role of trust and institutions and focusing on female entrepreneurship in developing countries, particularly Zambia. Ashraf argues that trust, institutional fairness, and negotiation skills matter for gender equity and economic development.

Nava Ashraf is a Professor of Economics at the London School of Economics and Political Science, where she is also the Co-Director of the STICERD Psychology and Economics Programme.

Her research combines psychology and economics using both lab and field experiments to test insights from behavioral economics in the context of global development, particularly digging into health and educational services. Ashraf explores intrahousehold decision-making and gender norms in the areas of finance, fertility, and labor force participation. Her work examines thorny questions like the role of trust and power dynamics in institutions, how flourishing takes place, and the importance of imagination and creativity in human flourishing.

If you like the show, please subscribe, leave a 5-star review, and tell others about the show! We're available on Apple Podcasts, Spotify, Amazon Music, and wherever you get your podcasts.

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

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