Category: 3-EconSometimeCommentary

Insurance forms that make no sense. Subscriptions that can’t be cancelled. A never-ending blizzard of automated notifications. Where does all this sludge come from — and how much is it costing us? (Part one of a two-part series.)

The post Sludge, Part 1: The World Is Drowning in It appeared first on Freakonomics.

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The deal seemed too good to be true. There's a website that's been selling top quality diamonds at bizarrely low prices. Prices we couldn't find at any retail outlet. Prices so low, we could buy a diamond on a public radio budget. So we did. What we got in the mail was a tiny ziploc bag containing a scintillating mystery.

On today's show: the Planet Money Diamond (or whatever this sparkly rock turns out to be). We get it analyzed by the experts at the Gemological Institute of America. We investigate where it came from. And, we dive into the economics of glittery stones. Was this a new kind of internet scam? Some supply chain anomaly? Or is something just really weird going on in the world of diamonds?

This episode was produced by James Sneed. It was edited by Keith Romer with help from Jess Jiang, fact-checked by Emma Peaslee, and engineered by Kwesi Lee. Alex Goldmark is our executive producer.

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A full-length conversation with Robert Sullivan, who wrote the best book on rats you’ll ever read. To get subscriber-only episodes, sign up for SiriusXM Podcasts+ on Apple Podcasts or by visiting siriusxm.com/podcastsplus.

The post The Rat Man appeared first on Freakonomics.

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When a Fortune 500 company needs a new leader, it turns to a well-connected headhunter who assesses candidates with psychological tests and mock TV interviews. Zachary Crockett activates his network.  

 

• SOURCES:
  • Julian Ha, partner at the executive recruiting firm Heidrick & Struggles.
  • Jane Stevenson, global vice chair of board and CEO services at Korn Ferry.

 

• RESOURCES:
  • "The Transformation of the CEO," by Stephen Langton, Rusty O'Kelley, Laura Sanderson, and Sean Roberts (Russell Reynolds Associates, 2024).
  • "Executive Paywatch" (AFL-CIO, 2023).
  • "Diversity matters even more: The case for holistic impact," by Dame Vivian Hunt, Sundiatu Dixon-Fyle, Celia Huber, María del Mar Martínez Márquez, Sara Prince, and Ashley Thomas (McKinsey & Company, 2023).
  • "CEO Tenure Rates," by Joyce Chen (Harvard Law School Forum on Corporate Governenance, 2023).
  • "Best Industries to Recruit for in the US" (Precision Global Consulting).

There's one statistic that rules them all when it comes to keeping track of the economy: gross domestic product (GDP). It's the sum of all final transactions, so all the goods or services bought and sold, in an economy. GDP tells us how hot the economy is running, or how cool — like if we might be heading into a recession. And it's an important tool to compare countries, policies, and politicians. It's used by the U.S. government to allocate money and by businesses to make decisions about the future.

For close to a century the building blocks of GDP have been the same. Now Commerce Secretary Howard Lutnick, has proposed a big change: taking government spending out of GDP.

On today's show, can the U.S. change how it measures GDP? We talk with a former head of the BEA — about what he thinks they're likely to do now, and about the pressure he faced while trying to compile GDP for nearly two decades. Turns out, people have always been trying to bend it to make whatever grand project they're working on look better.

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The quirky little grocery chain with California roots and German ownership has a lot to teach all of us about choice architecture, efficiency, frugality, collaboration, and team spirit.

The post Should America Be Run by … Trader Joe’s? (Update) appeared first on Freakonomics.

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On this episode, Jessica Carges chats with Catherine Pakaluk on her latest book, Hannah's Children: The Women Quietly Defying the Birth Dearth (2024). Pakaluk describes the economic consequences of dropping fertility rates, explores the reasons for why women choose to have children, explains how we can increase fertility rates, and more.

Catherine Pakaluk is the Director of Political Economy and an Associate Professor at The Catholic University of America. Her primary areas of research include economics of education and religion, family studies and demography, Catholic social thought and political economy.

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!

Follow the Hayek Program on Twitter: @HayekProgram

Learn more about Academic & Student Programs

Follow the Mercatus Center on Twitter: @mercatus

CC Music: Twisterium

Note: This original episode ran in 2020.

Walter Schramm did everything right as an investor — at least according to the philosophy of Warren Buffett. So how come he lost a small fortune?

In this episode, we look into an obscure government program that slurps up forgotten money. We hunt for money we might have left vulnerable and we try to figure out how it got there in the first place so we can tell you where to find the money you've misplaced too.

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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Security guards make malls feel safer, but what can they do when there’s trouble? Zachary Crockett observes and reports.

 

• SOURCES:
  • Gus Parsons, mall cop in the San Diego area.
  • David Levenberg, owner of Center Security Services.

 

• RESOURCES:
  • "Mall of America's security team will start using facial recognition software as part of safety plan," by Derek James (CBS News, 2024).
  • "The Problems Inside North America’s Largest Security Firm—and Third-Biggest Employer," by Alana Semuels (Time, 2023).
  • "Malls Work on Their Security, but Keep It in the Background," by Ronda Kaysen (New York Times, 2013).
  • Center Security Services.

 

• EXTRAS:
  • "NYPD subway robot, Knightscope, gets sacked after two-month pilot program," by Vineet Josan (The Ticker, 2024).
  • "The State of the American Mall," by Sapna Maheshwari (New York Times, 2021).

 

Tupperware is the stealthy star of our modern homes. These plastic storage containers are ubiquitous in our fridges, pantries, and closets. But the original product was revolutionary. So was its breakthrough sales strategy: the Tupperware Party.

Led in part by a charismatic housewife turned business innovator, Tupperware pioneered more than the party. Brownie Wise, and the company she came to represent, are behind a core sales technique that we might now recognize as influencer marketing.

The company was so successful at its peak, it reached almost cult status. But it didn't last.

On our latest episode: Tupperware's success and the company's demise. And how its descendants — in products, and in sales strategies — lived on.

This episode is in partnership with Decoder Ring. For even more on the legacy of Tupperware, listen to their full episode.

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.

Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

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