Category: 3-EconSometimeCommentary

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.

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On this episode, Erwin Dekker chats with Director Tomasz Agencki on the making of "Notes on the Margin" (2024), a full length documentary on the life and legacy of Carl Menger, founder of Austrian economics. Despite limited archival material and conflicting accounts, Agencki crafts a visually rich story highlighting Menger’s intellectual journey and reformist spirit.

Tomasz Agencki is a freedom-focused movie maker who travels around the world to cooperate with like-minded creators. Agencki has over 15 years of experience in film and tv production, directs and films many of his own documentaries, and is a professional audiobook voice artist. Watch Agencki's “How Sweden Quit Smoking” (2024) or find his other works here.

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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CC Music: Twisterium

These glistening round gemstones have come a long way since your grandmother's time, but procuring them is still a lot of work. The world is Zachary Crockett’s oyster.

 

• SOURCES:
  • Jeremy Shepherd, C.E.O. of Pearl Paradise.
  • James Brown, owner of Cygnet Bay Pearl Farm.

 

• RESOURCES:
  • "Pearls Have Acquired a New Luster Among Young Designers," by Victoria Gomelsky (New York Times, 2024).
  • "The Value of Pearls: A Historical Review and Current Trends," by Akitsugu Sato and Laurent Cartier (GemGuide, 2022).
  • "From Single Source to Global Free Market: The Transformation of The Cultured Pearl Industry," by Russell Shor (Gems & Geology, 2007).

 

You might have seen these texts before. The scam starts innocently enough. Maybe it's a "Long time no see" or "Hello" or "How are you." For investigative reporter Zeke Faux it was – "Hi David, I'm Vicky Ho. Don't you remember me?"

Many people ignore them. But Zeke responded. He wanted to get scammed. This led him on a journey halfway around the world to find out who is sending him random wrong number texts and why. After you hear this story, you'll never look at these messages the same way again.

To hear the full episode check out Search Engine's website.

Search Engine was created by P.J. Vogt and Sruthi Pinnamaneni. This episode was produced by Garrott Graham and Noah John. It was fact-checked by Sean Merchant. Theme, original composition, and mixing by Armin Bazarian. Search Engine's executive producers are Jenna Weiss-Berman and Leah Reis-Dennis.

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

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Just beneath the surface of the global economy, there is a hidden layer of dealmakers for whom war, chaos, and sanctions can be a great business opportunity. Javier Blas and Jack Farchy, the authors of The World for Sale, help us shine a light on the shadowy realm of commodity traders.

The post The Most Powerful People You’ve Never Heard Of appeared first on Freakonomics.

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Lately we've noticed that something we think about all the time here at Planet Money is having a viral moment: recession indicators!

From the more practical (like sales for lipstick going up and men's underwear going down) to the absurd and nonsensical (like babysitter buns coming back into style?) — people are posting to social media every little sign they see that a recession is coming. And we LOVE it. Because between the trade war and the tariffs and the stock market, there has been a lot of economic uncertainty over the last few months and we want to talk about it, too.

Today on the show — we dig into the slightly wonkier indicators that economists look at when they're trying to answer the question behind the viral internet trend: Is a recession coming?

This episode of Planet Money was produced by James Sneed. It was edited by Marianne McCune, fact-checked by Sarah McClure, and engineered by Cena Loffredo. Alex Goldmark is our executive producer.

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Music: Source Audio - "The Shirt Still Fits," "Chameleon Panther Style," and "Nighthawk."

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Everyone makes mistakes. How do we learn from them? Lessons from the classroom, the Air Force, and the world’s deadliest infectious disease. (Part four of a four-part series.)

The post How to Succeed at Failing, Part 4: Extreme Resiliency (Update) appeared first on Freakonomics.

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Youth baseball — long a widely accessible American pastime — has become overrun by $10,000-per-year, for-profit travel leagues. Zachary Crockett peers inside the dugout.

 

• SOURCES:
  • Linda Flanagan, author.
  • Nick Mackenzie, future New York Yankees shortstop.
  • R.J. Mackenzie, physical education teacher and baseball dad.
  • John Miller, journalist and baseball coach.

 

• RESOURCES:
  • "The Cost of Youth Baseball Is Getting Absurd," by Adam Minter (Bloomberg, 2024).
  • "Perfect Game Sees Prosperity Thanks To New Investments In Youth Sports," by Wayne G. McDonnell, Jr. (Forbes, 2024).
  • "How America Sold Out Little League Baseball," by John W. Miller (America Magazine, 2022).
  • "In Youth Sports, Talent Helps but Money Rules," by Roman Stubbs (The Washington Post, 2022).
  • Take Back the Game: How Money and Mania Are Ruining Kids Sports and Why It Matters, by Linda Flanagan (2022).
  • "State of Youth Sports: Parents, Policymakers Better Appreciate Physical Activity, Face Barriers to Help Kids Play," by Jon Solomon (The Aspen Institute, 2022).

 

• EXTRA:
  • Take Back the Game: How Money and Mania Are Ruining Kids Sports and Why It Matters, by Linda Flanagan (2022).