Réka Juhász is a professor of economics at the University of British Columbia, and she studies what's known as industrial policy.
That's the general term for whenever the government tries to promote specific sectors of the economy. The idea is that they might be able to supercharge growth by giving money to certain kinds of businesses, or by putting up trade barriers to protect certain industries. Economists have long been against it. Industrial policy has been called a "taboo" subject, and "one of the most toxic phrases" in economics. The mainstream view has been that industrial policy is inefficient, even harmful.
For a long time, politicians largely accepted that view. But in the past several years, countries have started to embrace industrial policy—most notably in the United States. Under President Biden, the U.S. is set to spend hundreds of billions of dollars on industrial policy, to fund things like microchip manufacturing and clean energy projects. It's one of the most ambitious tests of industrial policy in U.S. history. And the billion dollar question is ... will it work?
On today's show, Réka takes us on a fun, nerdy journey to explain the theory behind industrial policy, why it's so controversial, and where President Biden's big experiment might be headed.
Next week, the US Supreme Court will hear a case that pits the Attorneys General of Texas and Florida against a trade group representing some of the biggest social media companies in the world. Today, how we got here, and now the case could upend our online experience.
Capital One Financial Corporation plans to acquire Discover Financial Services in a $35 billion deal that would combine two of the largest U.S. credit card companies. Today on the show, five big questions about the deal, and the opaque system behind every swipe, tap or insertion of your credit card.
The Department of Defense's proposed budget for 2024 is $842 billion. That is about 3.5% of the U.S.'s GDP. The military buys everything from pens and paper clips to fighter jets and submarines. But the market for military equipment is very different from the commercial market.
On today's episode, we're bringing you two stories from The Indicator's series on defense spending that explore that market. As the U.S. continues to send weapons to Ukraine and Israel, we first look at why defense costs are getting so high. Then, we dive into whether bare-bones manufacturing styles are leaving the U.S. military in a bind.
The original Indicator episodes were produced by Cooper Katz McKim with engineering from Maggie Luthar and James Willetts. It was fact-checked by Sierra Juarez and Angel Carreras. They were edited by Kate Concannon and Paddy Hirsch. Alex Goldmark is Planet Money's executive producer.
In business, the million-dollar question is how to get people to buy stuff. But in wildlife conservation, the challenge is: how do we get people to not buy stuff? How do we bring down demand for fur, ivory and rhino horns? Today on the show, the story of a business trying to make lab-grown rhino horns and the backlash that followed.
Check out more of Juliana Kim's reporting for NPR here.
It's Indicators of the Week — our weekly look under the hood of our global economy. Today we look at why cocoa prices are soaring, whether India's electoral bonds are bad for democracy and how a typo sent Lyft shares (briefly) soaring.
The Genco Picardy is not an American ship. It doesn't pay U.S. taxes, none of its crew are U.S. nationals, and when it sailed through the Red Sea last month, it wasn't carrying cargo to or from an American port.
But when the Houthis, a tribal militant group from Yemen, attacked the ship, the crew called the U.S. Navy. That same day, the Navy fired missiles at Houthi sites.
On today's show: How did protecting the safe passage of other countries' ships in the Red Sea become a job for the U.S. military? It goes back to an idea called Freedom of the Seas, an idea that started out as an abstract pipe dream when it was coined in the early 1600s – but has become a pillar of the global economy.
This episode was hosted by Alex Mayyasi and Nick Fountain. It was produced by Sam Yellowhorse Kesler, edited by Molly Messick, fact-checked by Sierra Juarez, and engineered by Valentina Rodríguez Sánchez, with help from Maggie Luthar. Alex Goldmark is Planet Money's executive producer.
In 2023, The Federal Reserve and other banking regulators announced they were making changes to how they grade banks on servicing local communities. This all stems from a 1977 law called the Community Reinvestment Act, which was designed to encourage banks to better meet the needs of moderate and low-income borrowers. However, major banking trade groups weren't too excited about the new rules and filed a lawsuit against the banking regulators last week.
Today on the show, we explain the history of racist housing policies in the United States and how that history informs the banks' fight with the government today.
For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.
L, is for the way you Listen to Planet Money O, is for the Only podcast I hear V, is Very, very, fiduciary E, is for... ECONOMICS!
Every February, we dedicate a show to the things in our lives that have been giving us butterflies. Whether it's an obscure online marketplace or a piece of stunt journalism that made us green with envy. And then we go out into the world to proclaim our love...in the form of a Valentine. And we have a great roster this Valentine's Day:
- A grocery store in Los Angeles with the very best produce - A woodworking supply company with an innovative approach to... innovation! - A basketball player that makes a strong case for taking risky shots - A book that catalogues the raw materials that shape our world - A play that connects the 2008 financial crisis to the sale of the island of Manhattan in the 1600s - And, a podcast that turns corporate intrigue into watercooler chit-chat
So cozy up with a special someone and hand them the second earbud as we take you through our 2024 Valentines! Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
Egypt's economy is facing its worst crisis in decades. The situation could further destabilize the Middle East if it goes unresolved. Now, the International Monetary Fund is working with Egyptian leadership to figure out another deal for a multi-billion dollar loan ... but will it be enough? Today, we look at how Egypt has fallen into economic crisis and whether its economy is too big to fail.
Related episodes: What could convince Egypt to take in Gaza's refugees? (Apple / Spotify)
Red Sea tensions spell trouble for global supply chains (Apple / Spotify)
For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.
Roses are red. Violets are blue. We have another Indicator Quiz for you! Today's episode tests one loyal listener on their econ knowledge about our recent defense series, and they give us their best Valentine's Day cocktail recommendation. Play along with us and see how you do!
Are you interested in being a contestant on our next Indicator Quiz? Email us your name, city and phone number to indicator@npr.org and put "Indicator Quiz" in the subject line.
Related episodes: Can Just-In-Time handle a new era of war? (Apple / Spotify) Are we overpaying for military equipment? (Apple / Spotify) How to transform a war economy from peacetime (Apple / Spotify) How to transform a war economy from peacetime (Apple / Spotify) How the world economy could react to escalation in the Middle East (Apple / Spotify) How niche brands got into your grocery store (Apple / Spotify) WTF is a bitcoin ETF (Apple / Spotify)
For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.
Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.
Investors in dating app companies are suffering from heartbreak. As these companies shift gears and try to make a profit, many of their users are heartbroken too.
China is in the economic doldrums in part due to its slumping real estate market. And one of the largest property developers in mainland China is a huge part of the story. Evergrande is drowning in about $300 billion of debt. And after months of attempting to restructure, one of its entities is now being forced to liquidate. We look at what that means and how the Chinese economy will be affected.
Related episodes: China's weakening economy in two Indicators (Apple / Spotify)
Tumbling Chinese stocks and rapid Chipotle hiring (Apple / Spotify)
The mess at the heart of China's economy (Apple / Spotify)
For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.
It is Friday, and Indicators of the Week is back — SUPER Edition. Today, what one New York bank's shakiness means for the wider economy, why Mexican imports in the US are super surging, and the T. Swift effect on the Super Bowl.
Related Episodes: Economics, boosternomics and Swiftnomics (Apple/Spotify) Does the U.S. have too many banks? (Apple/Spotify)
For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.
Keith King was upset when his marriage ended. His wife had cheated, and his family broke apart. And that's when he learned about a very old type of lawsuit, called a heart balm tort. A lawsuit that would let him sue the man his now ex-wife had gotten involved with during their marriage.
On this episode, where heart balm torts came from, what relationships looked like back then, and why these lawsuits still exist today (in some states, anyway.) And also, what happened when Keith King used a heart balm tort to try to deal with the most significant economic entanglement of his life: his marriage.
This episode was hosted by Erika Beras and Sarah Gonzalez. It was produced by Emma Peaslee and edited by Molly Messick. It was fact-checked by Sierra Juarez and engineered by Gilly Moon. Alex Goldmark is Planet Money's executive producer.
