Category: News

Is 2024 the year the music festival died? Festivals are getting canceled left and right, from Northern California to Florida to Virginia.

Big name festivals that used to sell out in minutes struggled to sell tickets this year, too, like Burning Man and Coachella.

And it's not just America. By one count, over 60 music festivals were canceled in the UK this year alone. In Australia, so many festivals were canceled that one newspaper there recently asked, are the nation's music festivals extinct?

Today on the show, the music festival recession. What's behind it and is it temporary or a permanent cultural shift?

Related Episodes:
Live Music Industry Blues
The Economics of Music Festivals

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The U.S. economy is breathing a little easier after the International Longshoremen's Association reached a tentative agreement last week with the United States Maritime Alliance. The short-lived dockworkers strike reignited a debate over whether the president ought to intervene, invoking an old law on the books called the Taft-Hartley Act. On today's show, we explain what the Taft-Hartley Act is, why it was created and why it's still scorned by unions.

Related episodes:
What the data reveal about labor strikes (Apple / Spotify)
Why residuals are taking center stage in actors' strike (Apple / Spotify)
The never-ending strike (Apple / Spotify)
The strike that changed U.S. labor

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It's Jobs Friday! It's that time of the month where we check in on the American worker.

In September, 254,000 jobs were added to the US economy and the unemployment rate ticked down very slightly to 4.1%. It's unexpectedly strong, and relieving news for workers after a pretty lackluster summer.

But ... given how the labor market cooled over summer, is the labor market still on thin ice? And if there were to be a plummet in jobs, could anything be done to speed up the recovery?

Today on the show: How it's easier to break the economy than to fix it, and whether we can escape from the patterns of the past.

Related Episodes:
The Sahm Rule With The Eponymous Economist
How much would you do this job for? And other indicators

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In Germany, döner kebabs are more than just an affordable, satisfying street food. They're a symbol of Turkey's culinary influence in the country. Today on the show, how an effort to give döner kebabs a protected status under a little-known EU regulation could dish out some real economic consequences, in Germany and beyond.

Special thanks to Sidney Gennies, Sönke Matschurek, and Maren Möhring.

Related episodes:
Cheese wars
Coca Cola vs. Coca Pola (Apple / Spotify)

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TikTok could begin shutting down in the U.S. as soon as January 19 of next year. But the app is not going down without a fight. The company is asking a panel of federal judges to block the law in a high-profile case that pits free speech versus national security. Today on the show, how TikTok got to this point and what we can expect from the app's last ditch effort to stay alive in the U.S.

Related episodes:
Tick tock for TikTok? (Apple / Spotify)
Is Project Texas enough to save TikTok? (Apple / Spotify)

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Sovereign wealth funds have been around since the 1800s, but they're having a bit of a moment right now ... The financial instrument was recently name-dropped in HBOs 'Industry' (good show!) and members of both the Biden administration and the Trump campaign have floated the idea of an American sovereign wealth fund.

That idea, for the most part, has been derided by economists. But... is an American sovereign wealth fund such a bad idea?

On today's show: What IS a sovereign wealth fund? Is a US national sovereign wealth fund a good or even viable idea?

Related Episodes:
Why oil in Guyana could be a curse
The boom and bust of esports

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Penny for your thoughts? Today we open our mail bag to hear from Indicator listeners. A college graduate tells us about their job search, a researcher discusses why products advertised as 'simple' may not be so straightforward, and another listener thinks the debate over Fed independence is a little more nuanced than we let on.

Heard something on the show you liked (or didn't)? Have an insight to share about the economy? Send us an email: indicator@npr.org!

Related episodes:
Should presidents have more say in interest rates? (Apple / Spotify)
We grade Fed Chair Jerome Powell (Apple / Spotify)
Trade wars and talent shortages (Apple / Spotify)
If the world had no accountants (Apple / Spotify)
The case for inflation

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It's time for ... Indicators of the Week! It is our show where we talk about fascinating numbers from the news. On today's episode, America's small GDP increase, a big assist from China's government to its lower income residents, and a high-grossing, centuries-old Monkey King.

Related Episodes:
How Red Lobster got cooked and other indicators
China's luxury liquor indicator

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Peak 65 is here. More than 4 million Americans will turn 65 each year between 2024 and 2027, representing the largest retirement surge in history. Years ago, older Americans could count on Social Security. But today there is some uncertainty on the program's solvency in the next decade plus. Now, many are entering their golden years with financial insecurity. Today on the show, how did Social Security become a thing? And what could the safety net for the Peak 65 generation and beyond look like?

James Chappel's book: Golden Years: How Americans Invented and Reinvented Old AgeGolden Years: How Americans Invented and Reinvented Old Age

Related episodes:
Iceberg ahead for Social Security (Apple / Spotify)
What would it take to fix retirement? (Apple / Spotify)
Social Insecurity

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A group of obscure yet powerful players in the prescription drug industry are under the microscope. On Tuesday, at a Senate hearing in D.C., the head of pharmaceutical giant Novo Nordisk blamed the health insurance industry and pharmacy benefit managers, or PBMs, for allegedly making products like the weight loss drug Ozempic way more expensive in the U.S. than it is in other countries. A few days before that, the Federal Trade Commission sued three of the country's largest PBMs for allegedly using unfair tactics to artificially inflate the price of insulin.

So what exactly are PBMs and how do they work? In an episode that aired two years ago, we explain how the answer involves secret deals and double agents.

Related episodes:
Who can and cannot get weight loss drugs (Apple / Spotify)
New drugs. Cheaper drugs. Why not both? (Apple / Spotify)

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