Today on the show, the story of the modern consumer movement in the U.S. and the person who inspired it: Ralph Nader. How Ralph Nader's battle in the 1960s set the stage for decades of regulation and sparked a debate in the U.S. about how much regulation is the right amount and how much is too much.
This episode was made in collaboration with NPR's Throughline. For more about Ralph Nader and safety regulations, listen to their original episode, "Ralph Nader, Consumer Crusader."
This Planet Money episode was produced by Emma Peaslee and edited by Jess Jiang.
The Throughline episode was produced by Rund Abdelfatah, Ramtin Arablouei, Lawrence Wu, Julie Caine, Anya Steinberg, Casey Miner, Cristina Kim, Devin Katayama, Peter Balonon-Rosen, Irene Noguchi, and fact-checking by Kevin Volkl. The episode was mixed by Josh Newell.
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Planet Money - Hire Power (Update)
(Note: This episode originally ran in 2021.)
Millions of American workers in all sorts of industries have signed some form of noncompete agreement. Their pervasiveness has led to situations where workers looking to change jobs can be locked out of their fields.
On today's episode: how one man tried to end noncompete contracts in his home state of Hawaii. And we update that story with news of a recent ruling from the Federal Trade Commission that could ban most noncompete agreements nationwide.
This episode was hosted by Erika Beras and Amanda Aronczyk. The original piece was produced by Dave Blanchard, edited by Ebony Reed, and engineered by Isaac Rodrigues. The update was reported and produced by Willa Rubin. It was edited by Keith Romer, fact-checked by Sierra Juarez, and engineered by Josephine Nyounai.
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Millions of American workers in all sorts of industries have signed some form of noncompete agreement. Their pervasiveness has led to situations where workers looking to change jobs can be locked out of their fields.
On today's episode: how one man tried to end noncompete contracts in his home state of Hawaii. And we update that story with news of a recent ruling from the Federal Trade Commission that could ban most noncompete agreements nationwide.
This episode was hosted by Erika Beras and Amanda Aronczyk. The original piece was produced by Dave Blanchard, edited by Ebony Reed, and engineered by Isaac Rodrigues. The update was reported and produced by Willa Rubin. It was edited by Keith Romer, fact-checked by Sierra Juarez, and engineered by Josephine Nyounai.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
Learn more about sponsor message choices: podcastchoices.com/adchoices
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Hayek Program Podcast - “Freedoms Delayed” Book Panel
On this episode, we’ll hear a book panel discussion on Timur Kuran’s book, Freedoms Delayed: Political Legacies of Islamic Law in the Middle East (Cambridge University Press, 2023). In his comments, Timur provides an overview of his book, highlighting the Middle East's struggle with repressiveness, the challenges of fostering a liberal civil society, and the historical role of Islamic legal institutions. The panel is moderated by Peter J. Boettke, and they are joined on the panel by:
- Mark Koyama,* Associate Professor of Economics at George Mason University, Senior Fellow with the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center, and co-author of How the World Became Rich (2022) and Persecution and Toleration (2019).
- James Robinson, Professor of Political Science at the Harris School of Public Policy at the University of Chicago, The Reverend Dr. Richard L. Pearson Professor of Global Conflict Studies, Institute Director at the Pearson Institute for the Study and Resolution of Global Conflicts, and he has numerous books including The Narrow Corridor (2019) and Why Nations Fail (2013).
- Jennifer Brick Murtazashvili, Founding Director of the Center for Governance and Market and Professor at the University of Pittsburgh Graduate School of Public and International Affairs, and co-author of Land, the State, and War: Property Institutions and Political Order in Afghanistan (2021).
Timur Kuran is a Turkish-American economist and political scientist. He is a Professor of Economics and Political Science and the Gorter Family Professor of Islamic Studies at Duke University. He has published multiple books including The Long Divergence: How Islamic Law Held Back the Middle East (2011) and Private Truths, Public Lies: The Social Consequences of Preference Falsification (1997).
*Mark Koyama's comments were recorded separately
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The Economics of Everyday Things - 46. Car Colors
So many vehicles on the road today are white, black, or gray — but automotive designers find that consumer preferences may be changing lanes. Zachary Crockett surveys the lot.
- SOURCES:
- Tom Crockett, classic car enthusiast.
- Mark Gutjahr, global head of design at BASF.
- Nikkie Riedel, carline planning manager at Subaru of America.
- RESOURCES:
- BASF Color Report 2023 for Automotive OEM Coatings.
- "Beige on an S.U.V. Will Cost You, but for Pickups It’s Golden," by Roy Furchgott (The New York Times, 2021).
- "A Brief History Of Car Colors — And Why Are We So Boring Now?" (Consumer Reports, 2018).
- "The Link Between the Colour of Cars and the Economy," (The Economist, 2018).
- EXTRA:
- "Car Washes," by The Economics of Everyday Things (2023).
Planet Money - The case of the stolen masks
About thirty years ago, Yagya Kumar Pradhan woke up to the news that the temple he and his clan used had been broken into. The temple had been ransacked. And someone had stolen two holy Bhairav masks. Yagya says they had been in his family for more than five hundred years – since the 16th century.
Yagya is a kind of Hindu priest for his clan. And he says, these Bhairav masks were very holy. People made offerings to them during Dashaun, a festival held in the fall.
Yagya thought the masks were gone for good. He didn't realize... they were hiding in plain sight.
On today's show: The story of a group of amateur art detectives who use modern tools, subterfuge, and the power of the law to return stolen artifacts to their rightful owners. And we dive into the world of high-end auctions and art museums to ask: Can the art world survive the legacy of cultural theft?
Clarification: This episode has been updated to clarify that the reason the Rubin Museum is shuttering its building is not directly linked to repatriation.
This episode was hosted by Erika Beras and Nick Fountain. It was produced by James Sneed, edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
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Yagya is a kind of Hindu priest for his clan. And he says, these Bhairav masks were very holy. People made offerings to them during Dashaun, a festival held in the fall.
Yagya thought the masks were gone for good. He didn't realize... they were hiding in plain sight.
On today's show: The story of a group of amateur art detectives who use modern tools, subterfuge, and the power of the law to return stolen artifacts to their rightful owners. And we dive into the world of high-end auctions and art museums to ask: Can the art world survive the legacy of cultural theft?
Clarification: This episode has been updated to clarify that the reason the Rubin Museum is shuttering its building is not directly linked to repatriation.
This episode was hosted by Erika Beras and Nick Fountain. It was produced by James Sneed, edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
Learn more about sponsor message choices: podcastchoices.com/adchoices
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Planet Money - How unions are stopped before they start (Update)
(Note: This episode originally ran in 2023.)
Union membership in the U.S. has been declining for decades. But, in 2022, support for unions among Americans was the highest it's been in decades. This dissonance is due, in part, to the difficulties of one important phase in the life cycle of a union: setting up a union in the first place. One place where that has been particularly clear is at the Volkswagen plant in Chattanooga, Tennessee.
Back in 2008, Volkswagen announced that they would be setting up production in the United States after a 20-year absence. They planned to build a new auto manufacturing plant in Chattanooga.
Volkswagen has plants all over the world, all of which have some kind of worker representation, and the company said that it wanted that for Chattanooga too. So, the United Auto Workers, the union that traditionally represents auto workers, thought they would be able to successfully unionize this plant.
They were wrong.
In this episode, we tell the story of the UAW's 10-year fight to unionize the Chattanooga plant. And, what other unions can learn from how badly that fight went for labor.
This episode was hosted by Amanda Aronczyk and Nick Fountain. It was produced by Willa Rubin. It was engineered by Josephine Nyounai, fact-checked by Sierra Juarez, and edited by Keith Romer. Alex Goldmark is our executive producer.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
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Union membership in the U.S. has been declining for decades. But, in 2022, support for unions among Americans was the highest it's been in decades. This dissonance is due, in part, to the difficulties of one important phase in the life cycle of a union: setting up a union in the first place. One place where that has been particularly clear is at the Volkswagen plant in Chattanooga, Tennessee.
Back in 2008, Volkswagen announced that they would be setting up production in the United States after a 20-year absence. They planned to build a new auto manufacturing plant in Chattanooga.
Volkswagen has plants all over the world, all of which have some kind of worker representation, and the company said that it wanted that for Chattanooga too. So, the United Auto Workers, the union that traditionally represents auto workers, thought they would be able to successfully unionize this plant.
They were wrong.
In this episode, we tell the story of the UAW's 10-year fight to unionize the Chattanooga plant. And, what other unions can learn from how badly that fight went for labor.
This episode was hosted by Amanda Aronczyk and Nick Fountain. It was produced by Willa Rubin. It was engineered by Josephine Nyounai, fact-checked by Sierra Juarez, and edited by Keith Romer. Alex Goldmark is our executive producer.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
Learn more about sponsor message choices: podcastchoices.com/adchoices
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The Economics of Everyday Things - 45. Storage Units
Americans love to buy new stuff and hate to get rid of old stuff, which is why storing it all has become a $45 billion business. Zachary Crockett cleans out the garage.
- SOURCES:
- Zachary Dickens, executive vice president and chief investment officer of Extra Space Storage.
- Anne Mari DeCoster, self-storage consultant.
- Kara Kolodziej, self-storage unit tenant.
- RESOURCES:
- "A Fifth Of Americans Rent Self Storage, With Millennials Overtaking Gen Xers In Generational Storage Wars," by Francis Chantree (Storage Cafe, 2024).
- "Lessors of Mini Warehouses and Self-Storage Units Show Significant Financial Gains During COVID-19 Pandemic," by Ben Chandler and Robin Enlow (United States Census Bureau, 2024).
- "The Fate of Oversupplied Self-Storage Markets and How to Pull Back From the Brink," by Frank DeSalvo and David Perlleshi (Inside Self Storage, 2023).
- "A Pandemic Space Race: Self-Storage Roars Back," by Ellen Rosen (The New York Times, 2021).
- "Need to Store That? Booming Self-Storage Industry Says No Problem," by Liam Pleven (The Wall Street Journal, 2015).
- EXTRAS:
- Storage Wars, TV series (2010-present).
- Auction Hunters, TV series (2010-2015).
Planet Money - FTX and the Serengeti of bankruptcy
For the last year and a half, the story of FTX has focused largely on the crimes and punishment of Sam Bankman-Fried. But in the background, the actual customers he left behind have been caught in a financial feeding frenzy over the remains of the company.
On today's show, we do a deep dive into the anatomy of the FTX bankruptcy. We meet the vulture investors who make markets out of risky debt, and hear how customers fare in the secretive world of bankruptcy claims trading.
This episode was hosted by Alexi Horowitz-Ghazi and Amanda Aronczyk. It was produced by James Sneed and Sam Yellowhorse Kesler. It was edited by Jess Jiang, and fact-checked by Sierra Juarez. It was engineered by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
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On today's show, we do a deep dive into the anatomy of the FTX bankruptcy. We meet the vulture investors who make markets out of risky debt, and hear how customers fare in the secretive world of bankruptcy claims trading.
This episode was hosted by Alexi Horowitz-Ghazi and Amanda Aronczyk. It was produced by James Sneed and Sam Yellowhorse Kesler. It was edited by Jess Jiang, and fact-checked by Sierra Juarez. It was engineered by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
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Planet Money - Grocery prices, credit card debt, and your 401K (Two Indicators)
What's going on with consumers? This is one of the trickiest puzzles of this weird economic moment we're in. We've covered a version of this before under the term "vibecession," but it's safe to say, the struggle is in fact real. It is not just in our heads. Sure, sure, some data is looking great. But not all of it.
What's interesting, is exactly why the bad feels so much worse than the good feels good. Today on the show, we look into a few theories on why feelings are just not matching up with data. We'll break down some numbers and how to think about them. Then we look at grocery prices in particular, and an effort to combat unfair pricing using a mostly forgotten 1930's law. Will it actually help?
Today's episode is adapted from episodes for Planet Money's daily show, The Indicator. Subscribe here.
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What's interesting, is exactly why the bad feels so much worse than the good feels good. Today on the show, we look into a few theories on why feelings are just not matching up with data. We'll break down some numbers and how to think about them. Then we look at grocery prices in particular, and an effort to combat unfair pricing using a mostly forgotten 1930's law. Will it actually help?
Today's episode is adapted from episodes for Planet Money's daily show, The Indicator. Subscribe here.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
Learn more about sponsor message choices: podcastchoices.com/adchoices
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Hayek Program Podcast - “Living Better Together” — On Community Resilience
On this episode of the Hayek Program Podcast, we continue the Living Better Together miniseries, featuring select authors of Living Better Together: Social Relations and Economic Governance in the Work of Ostrom and Zelizer (Palgrave Macmillan, 2023) and hosted by its coeditor, Stefanie Haeffele.
Joining us today are Anne Hobson and Laura Grube. Together they explore the complexities of institutional diversity, community recovery, and crisis resilience through the lenses of Ostrom and Zelizer. Laura’s chapter focuses on community recovery following Hurricane Katrina and Superstorm Sandy and emphasizes the importance of local, community-driven solutions following disasters. Anne’s chapter explores the role of remittances in Cuba and how these financial supports act as economic circuits that maintain and strengthen familial and social bonds across geographical distances. Both emphasize the importance of social relations in community resilience.
Laura Grube is an Associate Professor of Economics at Beloit College. She is an alum of the Mercatus PhD Fellowship. Check out her chapter, "Institutional Diversity in Social Coordination Post-disaster."
Anne Hobson earned her PhD in Economics from George Mason University and now works in public policy. She is an alum of the Mercatus MA Fellowship. Check out her chapter, "Beyond Relief: Understanding the Cuban Diaspora's Remittance-Sending Behavior."
Recommended Works: Robert Wise’s “Learning from Strangers,” Barbara Czarniawska’s “Narratives in Social Science Research,” Jieun Baek’s “North Korea’s Hidden Revolution: How The Information Underground is Transforming a Closed Society,” Tom Gjelten’s “Bacardi and the Long Fight for Cuba,” and “Cuba and the Cameraman.”
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, our new podcast series from the Hayek Program is now streaming! Subscribe today and listen to season two, now releasing!
Follow the Hayek Program on Twitter: @HayekProgram
Learn more about Academic & Student Programs
Follow the Mercatus Center on Twitter: @mercatus
CC Music: Twisterium