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In 2019, President Trump tweeted: "I am not a fan of Bitcoin and other Cryptocurrencies." Today, the Trumps are all over crypto. There are memecoins for Trump and the first lady. They own a stablecoin, a bitcoin mining operation, and a crypto financial services company. And, at the Bitcoin 2025 conference, Trump's media group announced they're raising 2.5 billion dollars from investors to buy bitcoin. At that same conference, speakers included two White House advisors, two sons of the US preside...
Econ Battle Zone is back! On today's episode Mary Childs and Kenny Malone enter Econ Battle Stadium to throw down against reigning champion Erika Beras. Can Mary explain what effect extending the 2017 tax cuts will have on economic growth AND make her entire segment rhyme? Will Erika be able to overcome her fear of singing and craft a country song about the history of Medicaid? Can Kenny put together a piece about what warning signs economists look for to know whether the national debt has grown...
The U.S. has been policing bribery all over the world for nearly half a century using a law called the Foreign Corrupt Practices Act. But now, President Trump has said that this anti-corruption law is crippling American businesses. Since taking office, his administration has reduced the number of investigators, killed some cases, and changed the rules. In this episode, we look at the FCPA case against Glencore, a large commodity trading company, found guilty in 2022 for paying cash bribes in exc...
Note: A version of this episode first ran in 2023 . Every year, the U.S. government spends more money than it takes in. In order to fund all that spending, the country takes on debt. Congress has the power to limit how much debt the U.S. takes on. Once we reach that limit, Congress has a few options so that the government keeps paying its bills: Raise the debt limit, suspend it, or eliminate it entirely. Which is daunting, because if lawmakers don't figure something out in time, the ramification...
What was it like to work inside Elon Musk's DOGE? The cost-cutting initiative promised transparency, but most of its actions have been shrouded in secrecy. For months, there were reports of software engineers and Trump loyalists entering agencies and accessing sensitive data. DOGE also helped the Trump administration lay off thousands of government workers. NPR reporters have been trying for months to get anyone from DOGE to talk on the record. Now, Sahil Lavingia, a former DOGE staffer assigned...
When President Trump announced his sweeping new tariffs this year, many trade law experts were startled. Typically, presidents don't have the authority to impose broad tariffs with a snap of their fingers. But Trump's advisors have an unusual new legal theory. They say that as long as there's a national emergency of some kind, Trump may be able to create whatever tariffs he wants. This is a creative interpretation of a 1977 law called the International Emergency Economic Powers Act, or IEEPA. To...
Over the past decade, politicians from both parties have courted American voters with an enticing economic prospect – the dream of bringing manufacturing and manufacturing jobs back to America. They've pushed for that dream with tariffs and tax breaks and subsidies. But what happens when one multinational company actually responds to those incentives, and tries to set up shop in Small Town, USA? Today on the show – how a battery factory ignited a political firestorm over what kind of factories w...
This episode delves into President Trump's involvement in cryptocurrency through two ventures: the $TRUMP meme coin and a stablecoin launched by a Trump-affiliated company. It explores how the meme coin works, the potential profits, and legal questions surrounding emoluments and election finance laws. The episode also explains stablecoins using a casino analogy, discusses their uses and risks, and details how issuers make money from them.
This episode explores the US-China trade war through the lens of game theory. Economists analyze different game models, like the ultimatum game, chicken, and war of attrition, to understand the strategies of both countries. They ultimately consider the prisoner's dilemma in repeated play as a model for potential cooperation and examine theories for why the conflict escalated despite the possibility of mutual benefit, suggesting the trade war may be part of a larger geopolitical "metagame."
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. ...
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 w...
Amid viral social media trends spotting recession signs, Planet Money explores the serious indicators economists use. The episode delves into the official, albeit after-the-fact, dating of recessions by the NBER. It then examines three key indicators: the Sahm Rule based on unemployment changes, the yield curve reflecting bond market expectations, and the composite Leading Economic Index, discussing what they are currently signaling.
This episode of Planet Money explores the economic impact of a short-lived 145% tariff on Chinese imports. It follows the experiences of a port director, a small business owner, and a shipping logistics expert, illustrating the disruptions and challenges caused by trade policy changes. The episode examines how tariffs affect supply chains, manufacturing decisions, and consumer prices, revealing the complexities of global trade.
The U.S. exports billions of dollars worth of agricultural products each year — things like soybeans, corn and pork. And over the last month, these exports have been caught up in a trade war. U.S. farmers have been collateral damage in a trade war before. In 2018, President Trump put tariffs on a bunch of Chinese products including flatscreen TVs, medical devices and batteries. But China matched those tariffs with their own retaliatory tariffs. They put tariffs on a lot of U.S. agricultural prod...
This episode explores the U.S. dollar's role as the world's reserve currency, examining its historical dominance and the factors that contribute to its status. It discusses the benefits and drawbacks of this position for the United States, and considers potential alternatives to the dollar, such as the Euro, Renminbi, and even Bitcoin. The episode questions whether the dollar's reign is ending and what the implications would be for the global economy.
Virtually every product brought into the United States must have a so-called "country of origin." Think of it as the official place it comes from. And this is the country that counts for calculating tariffs. But what does it really mean when something is a "Product of China"? How much of it actually comes from China? And how do customs officials draw the line? Here in the U.S., the rules are delightfully counterintuitive. A product's country of origin is not necessarily where that product got on...
This Planet Money episode explores the history of public and pay toilets in the U.S., investigating why it's often so difficult to find a restroom. It recounts the movement to ban pay toilets in the 1960s and 70s, and how their disappearance led to a decline in free public restrooms. The episode further examines the economic and social implications of limited public access to toilets, and explores potential solutions, considering whether toilets should be viewed as a public good.
Annoyed consumers on the Planet Money team complain about petty frustrations, from excessive store emails and lack of free coffee refills to appliances not designed for easy repair. They explore the business reasons behind these issues, diving into the high return on investment of email marketing, the economics of the repair industry versus buying new, and the psychology of customer satisfaction and hedonic adaptation.
Reporter Alexi Horowitz-Ghazi's Aunt Vovi signed up for 23andMe back in 2017, hoping to learn more about the genetic makeup of her ancestors. Vovi was one of over 15 million 23andMe customers who sent their saliva off to be analyzed by the company. But last month, 23andMe filed for bankruptcy, and it announced it would be selling off that massive genetic database. Today on the show, what might happen to Vovi's genetic data as 23andMe works its way through the bankruptcy process, how the bankrupt...
President Donald Trump has been loudly critical of Federal Reserve Chair Jerome Powell for years now. Since January, the President has accused him of playing politics by keeping interest rates high. Trump has also threatened to oust Powell — which would mark an extraordinary shift away from the independence of the central bank. Today on the show, three Indicators: a short history of the Federal Reserve and why it's insulated from day-to-day politics; how the Fed amassed a ton of power in recent ...
Planet Money tackles the challenge of fairly distributing a colleague's surplus of cheap, farm-fresh eggs. They explore methods from new product development and development economics to determine who values the eggs most. The team implements blinded surveys and a pricing game show to uncover true egg enthusiasts and allocate the scarce resource.
OIRA — the Office of Information and Regulatory Affairs — is an obscure, but powerful federal office around the corner from the White House. President Trump has decided that it should get even more powerful. For the last 45 years, OIRA has overseen most federal agencies by reviewing proposed regulations to make sure they agree with the President's policies and don't conflict with the work of other agencies. But one set of federal agencies has always been exempt from this review process — indepen...
This episode explores how a Canadian small business, Nut Hut, is navigating the complexities of the US-Canada trade war. Owner Alex Rodrigues faces challenges as tariffs threaten her relationships with American suppliers, particularly pecan farmer Shirley in Arkansas. The episode delves into the impact of retaliatory tariffs and the "Buy Canadian" movement, highlighting the difficult choices businesses and consumers face in a globalized economy.
This episode of Planet Money investigates trade deficits, prompted by listener questions and new tariffs. It explores how trade deficits are calculated, their potential impacts, and whether they signify economic problems or opportunities. Featuring economist Kenneth Rogoff, the episode discusses foreign investment, the complexities of global trade, and the importance of analyzing the underlying factors contributing to trade imbalances.
Ever wondered why you can buy fresh Peruvian blueberries in the dead of winter? The answer, surprisingly, is tied to cocaine. Today on the show, we look at how the War on Drugs led to an American trade policy and a foreign aid initiative that won us blueberries all year round. And for more on trade and tariffs check out Planet Money's homepage . We've got articles looking at how much the new tariffs will raise prices and shows on everything from diamonds to potatoes to why you bought your couch ...
This episode of Planet Money explores the controversial topic of tariffs, examining arguments for and against their use. It features an interview with economist Ha-Joon Chang, who advocates for protectionist policies, and delves into the Trump administration's perspective on tariffs as a tool to correct trade imbalances and bring back manufacturing jobs. The episode also analyzes the potential economic and political implications of tariffs, including their impact on consumers and international relations.
Earth can sustain life for another 100 million years, but can we? This episode, we partner with Radiolab to take stock of the essential raw materials that enable us to live as we do here on Earth — everything from sand to copper to oil — and tally up how much we have left. Are we living with reckless abandon? And if so, is there even a way to stop? A simultaneously terrifying and delightful conversation about bird poop, daredevil drivers, and some staggering back-of-the-envelope math. Radiolab's...
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 investi...
Planet Money explores the complexities of Gross Domestic Product (GDP), the key metric for tracking the economy. The episode delves into a proposal to strip government spending from GDP, examining potential political motivations and implications for economic measurement. Former Bureau of Economic Analysis (BEA) head Steve Landefeld shares insights on historical attempts to influence GDP calculations and the importance of maintaining statistical integrity.
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 ...
