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Economy

How the Navy came to protect cargo ships

February 16, 2024 5:35 PM |Updated: February 20, 2024 12:00 AM

By:

Alex Mayyasi,
Nick Fountain,
Molly Messick, and
Sam Yellowhorse Kesler

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The cargo ship Genco Picardy was hit by a low-grade missile in the Gulf of Aden in January. In recent months, the Houthis, a tribal militant group from Yemen, have launched attacks on ships in response, they say, to Israel's war in Gaza.

The cargo ship Genco Picardy was hit by a low-grade missile in the Gulf of Aden in January. In recent months, the Houthis, a tribal militant group from Yemen, have launched attacks on ships in response, they say, to Israel's war in Gaza. / AP

The Genco Picardy is not an American ship. 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.

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

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Music: Universal Production Music - "Step Forward," "The Captain," and "Inroads"

Tags: Planet Money Series: Planet Money

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Israeli soldiers are seen near the Gaza Strip border in southern Israel, Monday, March 4, 2024.

Your Money

How much of your tax dollars are going to Israel and Ukraine

There's been a lot of disagreement in Congress and in the country about whether the U.S. should continue to financially support the wars in Ukraine and Gaza.

Some taxpayers don't think the U.S. should give Ukraine any money to fight off Russia's invasion. And some taxpayers have concerns about how they might be funding weapons that have been used to kill civilians in Gaza. And there are questions about how much individual taxpayers contribute to war efforts, generally.

So in this episode, we attempt to do the math: The average taxpayers' contribution to Israel and Ukraine. It's not so simple. But in attempting to do this math, we get this window into the role of our tax dollars on foreign assistance, and how the U.S. sells weapons to other countries.

For links to some of the reports we looked at to report this episode, check out the episode page on NPR.org.

This episode was hosted by Sarah Gonzalez and Alexi Horowitz-Ghazi. It was produced by Sam Yellowhorse Kesler and edited by Jess Jiang. It was fact-checked by Sierra Juarez and engineered by Robert Rodriguez. Alex Goldmark is our executive producer.

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

March 29, 2024

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By:

Sarah Gonzalez,
Alexi Horowitz-Ghazi,
and 2 more

Economy

Japan had a vibrant economy. Then it fell into a slump for 30 years.

Last month, Japan's central bank raised interest rates for the first time in 17 years. That is a really big deal, because it means that one of the spookiest stories in modern economics might finally have an ending.

Back in the 1980s, Japan performed something of an economic miracle. It transformed itself into the number two economy in the world. From Walkmans to Toyotas, the U.S. was awash in Japanese imports. And Japanese companies went on a spending spree. Sony bought up Columbia Pictures. Mitsubishi became the new majority owners of Rockefeller Center.

But in the early 1990s, it all came to a sudden halt. Japan went from being one of the fastest growing countries in the world to one of the slowest. And this economic stagnation went on and on and on. For decades.

On this episode, the unnerving story of Japan's Lost Decades: How did one of the most advanced economies in the world just fall down one day — and not be able to get up? Japan's predicament changed our understanding of what can go wrong in a modern economy. And gave us some new tools to try and deal with it.

This episode was hosted by Jeff Guo. It was produced by Emma Peaslee and engineered by Cena Loffredo. It was edited by Molly Messick. Alex Goldmark is Planet Money's executive producer.

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

April 07, 2024

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By:

Jeff Guo,
Molly Messick,
and 1 more

Economy

Shopping for parental benefits around the world

It is so expensive to have a kid in the United States. The U.S. is one of just a handful of countries worldwide with no federal paid parental leave; it offers functionally no public childcare (and private childcare is wildly expensive); and women can expect their pay to take a hit after becoming a parent. (Incidentally, men's wages tend to rise after becoming fathers.)

But outside the U.S., many countries desperately want kids to be born inside their borders. One reason? Many countries are facing a looming problem in their population demographics: they have a ton of aging workers, fewer working-age people paying taxes, and not enough new babies being born to become future workers and taxpayers. And some countries are throwing money at the problem, offering parents generous benefits, even including straight-up cash for kids.

So if the U.S. makes it very hard to have kids, but other countries are willing to pay you for having them....maybe you can see the opportunity here. Very economic, and very pregnant, host Mary Childs did. Which is why she went benefits shopping around the world. Between Sweden, Singapore, South Korea, Estonia, and Canada, who will offer her the best deal for her pregnancy?

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

March 04, 2024

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By:

Mary Childs,
Jess Jiang,
and 1 more

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