Category: 3-EconSometimeCommentary

A famous essay argues that “not a single person on the face of this earth” knows how to make a pencil. How true is that? In this 2016 episode, we looked at what pencil-making  can teach us about global manufacturing — and the proper role of government in the economy.

The post An Economics Lesson from a Talking Pencil (Update) appeared first on Freakonomics.

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Everyone loves to complain about it — but preparing a meal that tastes good at 35,000 feet is harder than you might think. Zachary Crockett will have the fish.

 

• SOURCES:
  • Molly Brandt, innovation chef for North America at Gategroup.
  • Chris Kinsella, chief commercial officer for North America at Gategroup.
  • Guillaume de Syon, professor of history at Albright College.

 

• RESOURCES:
  • "No Thanks, Grandma, I’m Saving Room for Airplane Food," by Christine Chung (New York Times, 2023).
  • "The Golden Age of airplane food is over. The future: Snacks and sustainability." by Natalie Comptom (The Washington Post, 2019).
  • "Why does food taste different on planes?" by Katia Moskvitch (BBC, 2015).
  • "And to Penny-Pinching Wizardry," by Claudia Deutsch (New York Times, 2001).
  • "The Pioneering Years: Commercial Aviation 1920–1930," by Rich Freeman (U.S. Centennial of Flight).

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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Nicholas Cullinan, the new director of the British Museum, seems to think so. “I’m not afraid of the past,” he says — which means talking about looted objects, the basement storerooms, and the leaking roof. We take the guided tour.

The post Can a Museum Be the Conscience of a Nation? appeared first on Freakonomics.

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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 from The Indicator were 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 of Planet Money was produced by James Sneed and edited by Emma Peaslee. Alex Goldmark is Planet Money's executive producer.

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Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.

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Every year, America celebrates its independence with millions of dollars worth of explosives imported from China. Zachary Crockett lights a fuse and backs away quickly.

 

• SOURCES:
  • JJ Brau, fireworks coordinator for J&M Displays.
  • Mark Johnson, vice president of J&M Displays.

 

• RESOURCES:
  • "The explosive history of fireworks, from ancient China to Revolutionary America," by Joe Hernandez (NPR, 2024).
  • "July 4 fireworks fiasco solved – technically," by Jonathan Horn (The San Diego Union-Tribune, 2016).
  • "The Fireworks King," by Damian Paletta and Emily Rauhala (The Washington Post, 2018).
  • "Exploding The Mystery Of Blue Fireworks," by Short Wave (2013).
  • "How Do Fireworks Make Shapes?" by Natalie Wolchover (Live Science, 2011).

 

• EXTRAS:
  • "Agreement Between The City of Rapid City and J&M Displays, Inc. for Annual Fireworks Displays" (2023).

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 is Planet Money's executive producer.

Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.

Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.

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Austan Goolsbee, president of the Federal Reserve Bank of Chicago, is less reserved than the average banker. He explains why vibes are overrated, why the Fed’s independence is non-negotiable, and why tariffs could bring the economy back to the Covid era.

The post “Fault-Finder Is a Minimum-Wage Job” appeared first on Freakonomics.

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We revisit four interviews from our 2023 series on failure. To get subscriber-only episodes, sign up for SiriusXM Podcasts+ on Apple Podcasts or by visiting siriusxm.com/podcastsplus.

The post Fail Again. Fail Better. appeared first on Freakonomics.

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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.

Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.

Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.

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