The Indicator from Planet Money - The crypto market is hot. But is it an illusion?
There has been an inordinate amount of trading activity recently in the crypto markets. But what if much of that activity was an illusion? A smokescreen? A fraud? Today on the show, we look at the practice of wash trading, and how it’s evolved in the crypto world.
Related episodes:
The fake market in crypto
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The Best One Yet - 👁️ “eyePhone” — Zuck’s screen-in-lens glasses. Kodak’s renaissance moment. Quarterly Earnings psych. +Treadmill trends.
Meta leaked that they’re launching new smart glasses today… with a screen on the lens.
Kodak is back with a camera that sold out… thanks to Labubu dolls.
Trump wants to end quarterly earnings… So we’ll explain the psychology of long-term thinking.
Plus, there is 1 fitness fad that is un-disruptable… The Treadmill.
$KODK $META $SPY
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Hayek Program Podcast - Michael Clemens on the Trillion-Dollar Question of Immigration
On this episode, Nathan Goodman is joined by Michael Clemens to discuss why immigration policy matters not just for migrants themselves but for broader economic growth. Drawing on his influential work, including “Economics and Emigration: Trillion-Dollar Bills on the Sidewalk?” (JEP, 2011) and “The Place Premium: Bounding the Price Equivalent of Migration Barriers” (REStat, 2019), Clemens explains how even modest liberalization of migration can create enormous gains, why exchange is positive-sum, and how complementary skills across the workforce drive production. Together they assess the claim that immigration undermines culture and institutions and revisit historical panics ranging from the Chinese Exclusion Act to the Dillingham Commission.
Dr. Michael Clemens is a professor in the Department of Economics at George Mason University and a Non-Resident Senior Fellow at the Peterson Institute for International Economics. He helped build the research program on international migration at the Center for Global Development.
Show Notes:
- Samuel Bazzi, et al., “The Confederate Diaspora” (NBER, 2025)
- Timur Kuran’s book, Freedoms Delayed: Political Legacies of Islamic Law in the Middle East (Cambridge University Press, 2023)
- Chloe N. East, et al., “The Labor Market Effects of Immigration Enforcement” (Journal of Labor Economics, 2023)
- Mexican Migration project
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Short Wave - What Does a Black Hole Collision Sound Like?
Interested in more stories about the cosmos? Email us your question at shortwave@npr.org.Listen to every episode of Short Wave sponsor-free and support our work at NPR by signing up for Short Wave+ at plus.npr.org/shortwave.
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What Could Go Right? - The Guardian of Public Lands with Josh Jackson
How do we protect America’s wild open spaces while meeting the demands of conservation, recreation, and development? Zachary welcomes Josh Jackson, author of The Enduring Wild: A Journey Into California's Public Lands. Founder of the Forgotten Lands Project, Josh aims to connect people with these landscapes through immersive storytelling and experiences. He explores the Bureau of Land Management’s role in sustaining the health of 245 million acres across the western U.S. and Alaska, uncovers the history of these vast landscapes including rebellions and land sales, and advocates for public engagement with BLM lands to foster conservation efforts.
What Could Go Right? is produced by The Progress Network and The Podglomerate.
For transcripts, to join the newsletter, and for more information, visit: theprogressnetwork.org
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NPR's Book of the Day - Sandra Cisneros’ ‘The House on Mango Street’ was born from a feeling of displacement
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Planet Money - When CEO pay exploded (update)
It’s no secret that CEOs get paid a ton – and a ton more than the average worker. More than a hundred times than what their average employee makes.
But it wasn’t always this way. So, how did this gap get so vast? And why?
On today’s episode … we go back to a specific moment when the way CEOs were paid got changed. It involves Bill Clinton's campaign promises, and Silicon Valley workers taking to the streets to protest an accounting rule. And of course, Dodd Frank.
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This episode was hosted by Jacob Goldstein and Stacey Vanek Smith, and was originally produced by Nick Fountain. This update was reported and produced by Willa Rubin and edited by Alex Goldmark.
Music: "Love To Go" and "Second Line Stomp."
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What Next | Daily News and Analysis - Can Kash Patel Survive This?
What happens to an organization when it purges much of its leadership and ranks irrespective of ability, and hires for sycophantic loyalty instead? The FBI is finding out.
Guests:
Michael Feinberg, former assistant special agent in charge at the FBI’s field office in Norfolk, VA, now a fellow at Lawfare.
Quinta Jurecic, staff writer at The Atlantic.
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Podcast production by Elena Schwartz, Paige Osburn, Anna Phillips, Madeline Ducharme, and Rob Gunther.
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