Category: 3-EconSometimeCommentary

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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 original Indicator episodes 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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Shoe repair shops are a dying breed — but for those that remain, demand is higher than ever. Zachary Crockett goes in for a shine.

 

• SOURCES:
  • Jim McFarland, owner of McFarland’s Shoe Repair in Lakeland, Florida.

 

• RESOURCES:
  • "Shoe cobbler becomes unlikely TikTok star," (NBC News, 2024).
  • "Cobblers face extinction - and are busier than ever," by Diana Nelson James (AP, 2019).
  • Shoe Service Institute of America.

 

• EXTRAS:
  • America's Cobbler (Jim McFarland), (YouTube).

 

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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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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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On this episode, Peter Boettke chats with Angus Burgin, Simon Halliday, and Glory Liu to explore their innovative work at the Center for Economy and Society and the creation of a new undergraduate program in Moral and Political Economy. They dive into the revival of political economy as a cross-disciplinary field, the pedagogical innovations shaping the next generation of thinkers, the coming 250th anniversary of Adam Smith’s The Wealth of Nations, and more.

Dr. Angus Burgin is Associate Professor of History and Founding Director of the Program in Moral and Political Economy at Johns Hopkins University. He serves as Co-Executive Editor of the book series, Intellectual History of the Modern Age, and he is the author of The Great Persuasion: Reinventing Free Markets since the Depression (Harvard University Press, 2015).

Dr. Simon Halliday is Associate Research Professor and Associate Director in the Center for Economy and Society at Johns Hopkins University. He is the co-author (with Sam Bowles) of an intermediate microeconomics textbook, Microeconomics: Competition, Conflict and Coordination (Oxford University Press, 2022).

Dr. Glory Liu is Assistant Professor in the Department of Government at Georgetown University. She is the author of Adam Smith’s America: How a Scottish Philosopher became an Icon of American Capitalism (Princeton University Press, 2022).

Show Notes:

• John Hopkins University’s BA in Moral + Political Economy
• Core Econ
• Adam Smith’s book, An Inquiry into the Nature and Causes of the Wealth of Nations (Liberty Fund, 1982)
• Charlotte Perkins Gilman’s book, Women and Economics (Small, Maynard & Company, 1898)
• Tim Rogan’s book, The Moral Economists: R. H. Tawney, Karl Polanyi, E. P. Thompson, and the Critique of Capitalism (Princeton University Press, 2018)
• Warren Samuels’ paper, “Adam Smith and the Economy as a System of Power”

**This episode was recorded October 30, 2025.

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Check out our other podcast from the Hayek Program! Virtual Sentiments is a podcast in which political theorist Kristen Collins interviews scholars and practitioners grappling with pressing problems in political economy with an eye to the past. Subscribe today!

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CC Music: Twisterium

The market for gustatory pain is surprisingly competitive. Zachary Crockett feels the burn.

 

• SOURCES:
  • Ed Currie, founder and president of the PuckerButt Pepper Company.
  • Stephanie Walker, associate professor and Extension Vegetable Specialist at New Mexico State University

 

• RESOURCES:
  • "Pepper X Dethrones Carolina Reaper as World’s Hottest Chili Pepper," by Sanj Atwal (Guinness World Records, 2023).
  • "The Shocking, Stupendous Rise of Superhot Chillies: ‘The Stomach Cramps Can Last for 14 Hours,’" by Tim Dowling (The Guardian, 2023).
  • "14-Year-Old Dies After Trying The Paqui ‘One Chip Challenge,’" by Bruce Y. Lee (Forbes, 2023).
  • "Beyond Neuronal Heat Sensing: Diversity of TRPV1 Heat-Capsaicin Receptor-Channel Functions," by Yaroslav M. Shuba (Frontiers in Cellular Neuroscience, 2021).
  • "Training Your Tongue to Love Spicy Food Benefits More Than Your Taste Buds," by Maddie Oatman (Mother Jones, 2019).
  • "Fire-Eaters," by Lauren Collins (The New Yorker, 2013).
  • "The Arms Race to Grow World's Hottest Pepper Goes Nuclear," by Spencer Jakab (The Wall Street Journal, 2013).

 

• EXTRAS:
  • "Why Do People Love Horror Movies?" by No Stupid Questions (2022).
  • Hot Ones, YouTube talk show.

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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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Tariffs. They’ve been announced, unannounced, re-announced, raised and lowered. It’s an on-going saga with billions at stake!


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:

• Are Trump's tariffs legal? 
• What is Temu?
• What "Made in China" actually means

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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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How much does it cost to design and build a mini-golf course? And what’s it like to run one? Zachary Crockett putts things in perspective.

 

• SOURCES:
  • Katie Conaboy, CEO and co-owner of Harris Miniature Golf.
  • Sal Conaboy, president and co-owner of Harris Miniature Golf.
  • Mike Matsinger, owner of Surf's Up Mini Golf.

 

• RESOURCES:
  • "The Evolution of Miniature Golf," (National Golf Foundation, 2022).
  • "Who Made Mini-Golf?" by Hilary Greenbaum and Dana Rubinstein (New York Times, 2012).

 

• EXTRAS:
  • Harris Miniature Golf.
  • Surf's Up Mini Golf.

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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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