Planet Money

Some of the biggest firms on Wall Street are, at this very moment, waiting for thousands of strangers to die to reap their returns. Because there’s a market for life insurance policies. And it’s legal. You don’t have to actually die to get some of your life insurance money. Thanks to a secondary market for life insurance policies, you might be able to claw back money from beyond the grave. You just sell your policy to an investor. So when you die, the payout goes to them, instead of your family or beneficiary. On today’s show, how the wheels of finance transformed a desperate deal made during the AIDS crisis into a multi-billion dollar industry. Support: Planet Money+ Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletter Our weekly Indicator round-up newsletter Follow: Instagram TikTok YouTube Facebook This episode was produced by Emma Peaslee and Willa Rubin. It was edited by Marianne McCune and fact-checked by Sierra Juarez. It was engineered by Cena Loffredo. Alex Goldmark is our executive producer. Support public media with NPR+ and enjoy perks for over 25 podcasts like this one. This show’s perks include bonus episodes and sponsor-free listening. Learn more at plus.npr.org . See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

Just about everyone in Argentina is an expert in inflation and whether they like it or not, economic flexibility. Can we learn from them? Over the years, we at Planet Money have checked in on Argentina as it tried to recover from economic collapse in 2001 and 2002, and as inflation shot up and the country defaulted on its debts. This week on our Summer School World Tour, we fly to Buenos Aires, mapping the moves of their economy through the eyes of people who live there – from tango classes and shoe shopping to a Coldplay concert that sparked a special exchange rate. We’ll consider the different attempts from the government to staunch inflation and why they’ve led to so many unintended consequences. But the heart of this week’s trip is the resilience of everyday economic actors, regular people. When the value of your currency is so in flux, average people become monetary contortionists just to navigate work, shopping, saving and to keep small businesses afloat. This adaptability becomes a special kind of skill and wisdom. So, we’re harvesting that everyday economic insight for tips on how we can all face uncertainty a little better. And, to appreciate the high costs of volatility. Featured Episodes: Messi economics (2022) A black market, a currency crisis and a tango competition in Argentina (2023) The high cost of a strong dollar (2022) Featured Terms: Volatility Inflation expectations Capital controls Austerity Support: NPR+ (sponsor-free listening & bonus episodes) And please click “follow” in your podcast app so you don’t miss an episode. Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life ( Audiobook here ) Our weekly longform Planet Money newsletter Our weekly Indicator link round-up newsletter Follow: Instagram TikTok YouTube Facebook This episode of Planet Money Summer School is hosted by Robert Smith. It was produced by Sophia Paliza-Carre and Schuyler Swenson and edited by Planet Money Executive Producer Alex Goldmark. It was fact-checked by Sierra Juarez and engineered by Jimmy Keeley. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

When workers past retirement age can’t afford to retire — that’s one thing. When they can, and just don’t want to — that’s trickier. It used to be legal to force people to retire when they hit a certain age. The trend used to be earlier and earlier retirement. Now it’s later and later retirement. And younger workers say it’s impacting their career advancement and their ability to save for their own retirement. At the same time, older workers are living longer, Social Security and Medicare funding are less secure than ever … and many people want to keep working. Age in the workplace is a tricky thing to talk about. But today on the show, we’re talking about it. On the latest Planet Money , a law professor who says retirement should be mandatory at age 70. And an economist who says, actually … people should delay retirement even longer. Show notes: More of Planet Money’s coverage of the lump of labor fallacy Samuel Moyn: Gerontocracy in America: How the Old Are Hoarding Power and Wealth? And What to Do About It. Gerhard Casper and Saunders Mac Lane: “ Older Doesn’t Mean Wiser ” Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly long-form Planet Money newsletter Our weekly Indicator round-up newsletter Follow: Instagram TikTok YouTube Facebook Support public media with NPR+ and enjoy perks for over 25 podcasts like this one. This show’s perks include bonus episodes and sponsor-free listening. Learn more at plus.npr.org . This episode was reported by Sarah Gonzalez. It was produced by Willa Rubin, edited by Eric Misitzis Mennel, and fact-checked by Sierra Juarez. It was engineered by Robert Rodriguez and Jimmy Keeley. Alex Goldmark is our executive producer. Music: NPR Source Audio: “Don’t Cross The Line,” “Aventure Burlesque,” and “Hollywood.” See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

Imagine a nation where, for the residents, land is for the claiming. You walk down the street, pick out a nice looking plot of land, and just plop down a marker. No rent, no taxes, no deed – just free land. That’s the communal system of property rights that governed a small Caribbean island for over a century. This week on our Summer School World Tour we make port on the small economies of island nations, a great place to explore how different experiments play out. Every small change – the good and the bad – has big consequences. First, the fascinating test case on the island of Barbuda, where the people there have found a way to run things without the usual, formal land rights. Then, we consider the vulnerabilities of small nations as we dig into a mysterious sand heist in Jamaica. A stolen beach – yes, you read that right – and something called “sand forensics” reveal the importance of this seemingly infinite resource and the challenges of protecting public spaces when there’s money to be made. Along the way we found ourselves asking: Does property have to be private? What happens when it’s not? How can you protect scarce resources when they’re part of the vast, public spaces everyone shares? Featured Episodes: The Island No One Owns (2020) Peak Sand (2018) Featured Terms: Tragedy of the commons Property rights Path dependence Ownership in common Support: NPR+ (sponsor-free listening & bonus episodes) And please click “follow” in your podcast app so you don’t miss an episode. Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life ( Audiobook here ) Our weekly longform Planet Money newsletter Our weekly Indicator link round-up newsletter Follow: Instagram TikTok YouTube Facebook This episode of Planet Money Summer School is hosted by Robert Smith. It was produced by Sophia Paliza-Carre and edited by Planet Money Executive Producer Alex Goldmark. It was fact-checked by Leyla Doss and engineered by Annlie Huang. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

Squishy, slimy, fidgety toys are having a moment. But it’s more than just an anxiety-soothing, social-media fueled trend – these toys are reshaping how toys get made. Today on the show, we have the story of the once-humble squishy dumpling and what it teaches us about how to make a viral hit and how to manufacture it, without getting left holding the bag. Hear it all firsthand from the creator of this trendy toy. Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletter Our weekly Indicator round-up newsletter Follow: Instagram TikTok YouTube Facebook Support public media by joining NPR+ at plus.npr.org . You’ll get perks for over 25 NPR podcasts, including bonus episodes and sponsor-free listening for Planet Money. This episode of Planet Money was produced by Emma Peaslee. It was edited by Marianne McCune. It was fact-checked by Sierra Juarez. It was engineered by Cena Loffredo. Alex Goldmark is Planet Money’s executive producer. Music: NPR Source Audio - "Melty Heart," "Summer Escape," and "Twilight Sparkle" See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

Let’s call it the luxury of restraint. This is what enabled Norway to avoid the fate of so many other countries when they discovered oil and it changed the mix of their economy overnight. Norway! It’s expensive, wealthy, and abundant in resources. We’re going to compare two of them in particular today: deep reservoirs of oil and icy waters full of salmon. While one resource was heavily in demand, the country had an oversupply of the other. In this episode, we learn how Norway built its wealth by carefully avoiding the pitfalls of discovering oil that have plagued countries in the past and how it creatively created demand for its raw fish abroad. How do you dodge the dreaded resource curse? What clever ways can you benefit from oversupply? And lastly, how do you get rich and stay that way? Featured Episodes: Norway Has Advice For Libya (2011) The Salmon Taboo (2015) Featured Terms: Resource curse / Dutch disease / paradox of plenty Coordination problem Free-rider problem Support: NPR+ Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life ( Audiobook here ) Our weekly longform Planet Money newsletter Our weekly Indicator link round-up newsletter Follow: Instagram TikTok YouTube Facebook This episode of Planet Money Summer School is hosted by Robert Smith. It was produced by Sophia Paliza-Carre and edited by Planet Money Executive Producer Alex Goldmark. It was fact-checked by Sierra Juarez and engineered by Cena Loffredo with help from Annlie Huang and Robert Rodriguez. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

Let’s head to a small town in Kenya that’s become globally famous for helping economists answer some of the biggest questions facing humanity. In Kenya and Nigeria, economics isn’t just theory, it’s real life. We’ll look at some radical experiments that turned out to be enormously successful. What are the building blocks of health, education and prosperity for all? How does a nation grow rich? What is the most effective way to spend a dollar to fight poverty? We find answers in a town that became the laboratory for new concepts in economic research that netted some researchers the most prestigious prize in economics. Featured Episodes: How randomized trials and the town of Busia, Kenya changed economics (2023) Nigeria, You Win! (2016) Featured Terms: Randomized controlled trial Human capital Missing middle Support: Planet Money+ Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life ( Audiobook here ) Our weekly longform Planet Money newsletter Our weekly Indicator link round-up newsletter Follow: Instagram TikTok YouTube Facebook The series is hosted by Robert Smith and produced by Sophia Paliza-Carre. This episode was edited by Planet Money Executive Producer Alex Goldmark. This episode was fact-checked by Leyla Doss, with engineering by Annlie Huang. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

The cyclospora outbreak that’s sickening thousands of Americans got us interested in the rise of Big Lettuce, and the challenges of keeping it clean. So on today’s show, we tell you just how much lettuce Americans eat every year (SO MUCH!), how bagged lettuce came to dominate grocery store shelves, what that means for food safety, and why these outbreaks continue to happen — despite the FDA’s efforts to stop them. Check out other related episodes: Food Scare Squad How refrigeration took over the world Support: Planet Money+ Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletter Our weekly Indicator round-up newsletter Follow: Instagram TikTok YouTube Facebook This episode was hosted by Jeff Guo and Emma Peaslee. It was produced by Emma Peaslee. It was edited by Marianne McCune and it was fact checked by Sierra Juarez and engineered by Annlie Huang. Alex Goldmark is Planet Money ’s executive producer. Music: NPR Source Audio - "Electric Leak," "West Green Road," and "Melty Heart" See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

In the summer of 2020, sixteen-year-old Antonio Mays Jr. traveled a thousand miles to join the racial justice movement of his generation in the wake of George Floyd's killing. Antonio arrived in Seattle during the Capitol Hill Occupied Protest, known as CHOP. Less than a week later, he was shot and killed there. The case remains unsolved. In this eight-part series, hosts Sydney Brownstone of The Seattle Times and Will James of KUOW team up with NPR's Embedded to investigate Antonio's death. They track down key eyewitnesses and surface crucial evidence that's never been made public. Find "We Keep Us Safe" in the Embedded podcast feed. Listen to Embedded wherever you get your podcasts, including the NPR App , Apple Podcasts , Pocket Casts , Spotify , and via RSS . See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

As the World Cup comes to a close, so does a massive real-time experiment happening just around the edges. Major League Soccer – the top men’s professional soccer league in the U.S. and Canada – has been scrambling to take advantage of this once-in-a-generation opportunity when average American sports fans suddenly cared a lot about soccer. In between World Cup matches, NPR Sports Correspondent Becky Sullivan has been following Major League Soccer executives as they try to figure out how best to get a foot in the door with sports fans in the U.S. In this episode, we tag along to see if U.S. and Canadian professional soccer can harness 2026 for the mythical World Cup bump in soccer interest. What strategies are teams using? And does it stand a chance to work? Support: Planet Money+ Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletter Our weekly Indicator round-up newsletter Follow: Instagram TikTok YouTube Facebook This episode of Planet Money was hosted by Becky Sullivan and Kenny Malone. It was produced by James Sneed with an assist from Sam Yellowhorse Kesler and edited by Jess Jiang. It was fact-checked by Sierra Juarez and engineered by Annlie Huang. Alex Goldmark is Planet Money’s executive producer. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

China’s turbocharged growth may have made it rich, but now it has to deal with rich country problems. High-speed trains that connect every town. Gleaming new bridges and skyscrapers. An apartment (or two) for every family. No country on Earth has seen the kind of economic growth that China has over the last 50 years. China has become the factory to the world, a grand experiment in central government planning mixed with personal ambition. It was all enabled by what our guide for today calls, an engineering state, a central planning mindset where leaders believe they can engineer their way out of economic problems. And problems are mounting. Today on the show, the perils of prosperity and the despair of success as China deals with overbuilding. We’ll travel back to China’s free-wheeling boom-era of the early 2000s and hang out with a property developer who amassed his wealth at the center of the action – private jet rides, thousand-dollar fish soup, casual bribes. Then, as the economy slows, we ask what can we learn from the despair of success. Does rising youth unemployment signal a less prosperous future? With young people struggling to find white-collar jobs, some of them are opting out of work altogether. Featured Episodes: China’s real estate crisis, explained (2023) Young, “spoiled and miserable” in China (2023) Featured Terms: Socialism with Chinese Characteristics Engineering State Malinvestment Support: Planet Money+ Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life ( Audiobook here ) Our weekly longform Planet Money newsletter Our weekly Indicator link round-up newsletter Dan Wang’s book: Breakneck: China's Quest to Engineer the Future Follow: Instagram TikTok YouTube Facebook This episode of Planet Money Summer School is hosted by Robert Smith. It was produced by Sophia Paliza-Carre, fact-checked by Sierra Juarez, and engineered by Maggie Luthar. This episode was edited by Planet Money Executive Producer Alex Goldmark. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

Once upon a time, if you wanted to buy a luxury brand item secondhand (say, a Chanel handbag) you had to have an in. There was no easy way to find one. But over the past decade, the market for secondhand luxury goods has exploded. There are now many online resellers where you can shop for used and discounted luxury items. One big problem — how can you be sure if it’s real and authentic? Some online resellers claim to have solved this problem. They say they’ve developed a process of authentication, and so buyers can trust that the bag is really Gucci or Cartier or Hermès or whatever. But according to some luxury brands, authenticity is something that is often imitated but never replicated. In today’s episode of Planet Money , the fight between Chanel and The RealReal. And how luxury brands are reacting to the enormous and growing secondhand market for luxury goods. Support: Planet Money+ Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletter Our weekly Indicator round-up newsletter Follow: Instagram TikTok YouTube Facebook This episode of Planet Money was hosted by Amanda Aronczyk and Jeff Guo. It was produced by James Sneed with help from Charlotte Isidore, who also fact checked this episode. Jess Jiang edited the show and it was engineered by Cena Loffredo. Alex Goldmark is Planet Money 's executive producer. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

Come along as we travel the world in search of the best economic ideas to bring home! From the beaches of Barbuda to the fjords of Norway, there's money (and money problems) everywhere. For this summer travel season, Planet Money Summer School will take you on a world tour for your ears. Pack that sense of wonder and nose for adventure, this is our semester abroad. We’re going to explore exotic locales and discover cultural norms, but we’re also going to buckle down and learn the biggest economic lessons around the world from our guides. We start as far away as you can get from Planet Money headquarters, New Zealand and Australia. We’ll visit a sheep farm to observe an innovative but controversial market for the most important substance on earth, and we’ll ask when do speculators help and when do they hurt the rest of us? Then, we’ll get to know the economist – and jazz musician – who changed how the entire world fights inflation when he released a secret number to tame the dreaded wild beast. How did that work? Spoiler: it was the great leap forward in economic mind tricks. Featured Episodes: Liquid Markets (2021) The Secret Target (2018) Featured Terms: Multiple equilibria Inflation targeting Speculators (impact on liquidity) Support: Planet Money+ Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life ( Audiobook here ) Our weekly longform Planet Money newsletter Our weekly Indicator link round-up newsletter Follow: Instagram TikTok YouTube Facebook This episode of Planet Money Summer School is hosted by Robert Smith. It was produced by Sophia Paliza-Carre, fact-checked by Sierra Juarez, and engineered by Annlie Huang with help from Robert Rodriguez. Music: NPR Source Audio - "The Boy from Ipanema," "Desmontes," "Long Drive,” and “Bondi.” See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

Lionel Messi is arguably the greatest soccer scorer of all time. But when it comes to penalty kicks, Messi is merely average. Why? Maybe the answer involves game theory. According to game theory, there’s an optimal strategy for taking penalty kicks. This strategy involves an idea that was once somewhat controversial in economics — that is, until economists started studying soccer players in real life. On today's show, we kick it over to the hosts of the Soccernomics podcast to explain how game theory has changed soccer, and how soccer has changed game theory. Watch the penalty shootout between Manchester United and Chelsea in the Champions League final in 2008 . Support: Planet Money+ Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletter Our weekly Indicator round-up newsletter Follow: Instagram TikTok YouTube Facebook This episode of Planet Money was produced by Emma Peaslee with help from James Sneed. It was edited by Jess Jiang. It was fact checked by Sierra Juarez and engineered by Annlie Huang. Alex Goldmark is our executive producer. The Soccernomics episode was originally hosted by Ashish Malhotra, Simon Kuper and Stefan Szymanski and sound designed by Alex Roldan. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

Will limiting how much students can borrow force schools to lower their prices? The Department of Education thinks so. It has a new plan to bring down tuition costs. Starting today, July 1st, it’s going to cap how much it’s willing to loan to graduate students. You read that right. To reduce the burden of school…the plan is to give students less money to pay for school. This plan is, in part, based on an idea that’s been floating around higher education circles for decades: The Bennett Hypothesis, which claims there’s a direct relationship between student borrowing and tuition prices. And therefore, if the Department of Education — the biggest student loan provider in the country — limits how much students can take out, then schools will have no choice but to charge students less . This hypothesis was floated roughly 40 years ago...without evidence. But now, as the Trump administration rolls out their Bennettian plan, we have decades of data to see how true this hypothesis is. Today on the show: NPR Education Correspondent Cory Turner explains this theory, and what the new plan influenced by it will mean for borrowers this fall. Other notes: Bill Bennett: “ Our Greedy Colleges ” Cory Turner: " July 1 brings big student loan changes. Here's what you need to know " The Indicator: " What you should know about your student loans " Support: Planet Money+ Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletter Our weekly Indicator round-up newsletter Follow: Instagram TikTok YouTube Facebook This episode was hosted by Cory Turner and Kenny Malone. It was produced by Willa Rubin and edited by Marianne McCune. It was fact-checked by Charlotte Isidore and engineered by Robert Rodriguez. Alex Goldmark is our executive producer. Music: NPR Source Audio - “Morning Chorus,” “Belle Mar,” and “The Sky Was Orange.” See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

In the early 90’s, a company called General Magic began working on a portable device that would allow people to check email, make phone calls, even play games. It was basically a smartphone. But it never caught on. On today’s show, a theory about why this device failed. General Magic had generous investors, world-class talent and creative freedom. But is it possible what they needed was constraints? Support: Planet Money+ Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletter Our weekly Indicator round-up newsletter Follow: Instagram TikTok YouTube Facebook This episode was hosted by Erika Beras and Emma Peaslee. It was produced by Emma Peaslee with help from Sam Yellowhorse Kesler and James Sneed. It was edited by Marianne McCune and fact-checked by Charlotte Isidore. It was engineered by Jimmy Keeley with help from Cena Loffredo. Alex Goldmark is Planet Money ’s executive producer. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

Prediction markets aren’t new. Election betting was common until the 1940s, then mysteriously faded away. There was an entire political era when party bosses were expected to conspicuously gamble on their candidates (even if they secretly hedged). And in the 1980s, a few economists designed an election market that beat out election polling 74 percent of the time. Today, we’re running an excerpt from our friends at Throughline , NPR’s excellent history podcast. Subscribe right now if you don’t already . And, listen to their extended version of the episode to hear about the early markets for betting on terrorism and military uses of prediction markets. Support: NPR+ Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletter Our weekly Indicator round-up newsletter Follow: Instagram TikTok YouTube Facebook Today's episode was produced for Planet Money by Sam Yellowhorse Kesler, edited by Alex Goldmark, and engineered by Maggie Luthar. The original Throughline episode was produced by Rund Abdelfatah, Casey Miner, Cristina Kim, Devin Katayama, Sarah Wyman, Julia Redpath, and Kyana Moghadam. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

Maybe the real monster in the Alien franchise isn’t actually the killer alien. Because behind the acid blood and jump scares is an even more insidious horror: a single employer with unchecked power. That employer is named Weyland-Yutani, a mega-corporation that dominates workers across the galaxy. Weyland-Yutani is a sort of extreme example of what economists call a monopsony — when one employer dominates a labor market and gains power to underpay and mistreat workers. Sure, it’s science fiction. But a growing number of economists argue that monopsony power is a much bigger deal in the real world than previously thought. We watch scenes from the movie Alien with labor economist Arin Dube, whose new book, The Wage Standard , shines a spotlight on the problem of monopsony power in the modern economy. We ask Arin what policy ideas he has that would have maybe prevented the worker tragedy seen in Alien . And we use his answer to try and rewrite the movie (spoiler: the movie becomes much shorter and less exciting). Plus, we speak with Fede Álvarez, the director and co-writer of Alien: Romulus , which puts Weyland-Yutani’s poor treatment of workers front row and center. For more on monopsony and anti-trust: The labor economics of 'Alien' — and its lessons for inequality on Earth (PM newsletter) The hidden power keeping wages low (PM newsletter) Antitrust In America (PM series) How we got free agents in baseball (PM episode) Support: Planet Money+ Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletter Our weekly Indicator round-up newsletter Follow: Instagram TikTok YouTube Facebook Today's episode of Planet Money was hosted by Greg Rosalsky and Kenny Malone. It was produced by James Sneed, edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Robert Rodriguez. Our executive producer is Alex Goldmark. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

The cyber weapon that might have prevented nuclear war. The U.S. and Israel have long been in conflict with Iran over their nuclear development program. Some of that conflict has been out in the open, with bombs and blockades, but some of it has been invisible. Recently some security researchers discovered a cyberweapon likely tied to that invisible conflict. It looks like it was designed to hide on nuclear scientists computers, then throw off their calculations--just as they got close to achieving their goals. Sounds like something out of science fiction. But it was created 20 years ago. On today’s show: a whodunit about hackers, ‘Cyber Paleontologists’, spy-vs-spy protocols, cryptic intelligence leaks, nuclear physics, high-precision math, and epistemological warfare. Pictured: Juan Andres Guerrero Saade (JAGS) and his ‘Fast16 - NOTHING TO SEE HERE, CARRY ON’ tattoo. Support: Planet Money+ Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletter Our weekly Indicator round-up newsletter Follow: Instagram TikTok YouTube Facebook This episode was hosted by Nick Fountain and Erika Beras. It was produced by Willa Rubin and edited by Marianne McCune with help from Jess Jiang. It was fact-checked by Charlotte Isidore and engineered by Kwesi Lee. Alex Goldmark is our executive producer. Music: NPR Source Audio - “High Tech Expert,” “Digital Wave,” and “Hyper Pop.” See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

Can the government stop you from cutting down your own tree? In many towns and cities these days, removing a tree now requires a permit. You might have to pay a fee, or promise to plant replacement trees. But sometimes, the city won't let you cut down the tree at all, even a tree in your own backyard. That's because trees are important for air quality, for flood control, and for public health. They help keep neighborhoods cool on hot days. But some think that tree protection laws have gone too far — that they might even be unconstitutional. On today's episode, it's the latest showdown between property rights and local zoning laws. Typically, towns and cities enjoy a lot of power when it comes to zoning and permits. They can ban certain types of buildings. They can make you paint your house a certain color. But can they make it illegal to cut down a tree? And what does it mean to "own" a piece of property anyway? Support: Planet Money+ Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletter Our weekly Indicator round-up newsletter Follow: Instagram TikTok YouTube Facebook This episode of Planet Money was hosted by Jeff Guo and Amanda Aronczyk. It was produced by James Sneed and Emma Peaslee, edited by Jess Jiang, and fact-checked by Vito Emanuel. It was engineered by Robert Rodriguez and Cena Loffredo. Alex Goldmark is our executive producer. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

One specific type of affordable housing used to be popular in American cities, kept rents low, then nearly vanished. Is it time to reconsider boarding houses and single room occupancy units? If they lowered rents in cities, why did they go away? We have the history. Then, let’s talk about corporate landlords. They’re blamed for driving up rents. Studies show they do the opposite. When corporate landlords come to town, they do buy up homes, which can raise the price to buy, but at the same time lower rents. We’ll parse the impact as we consider a Trump administration plan to restrict corporate home ownership. Related episodes: Is the YIMBY movement doomed? How to fix a housing shortage How to build abundantly Can Trump make buying a home more affordable? Support: NPR+ Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletter Our weekly Indicator round-up newsletter Follow: Instagram TikTok YouTube Facebook The original episodes of the Indicator were hosted by Darian Woods and Wailin Wong. They were produced by Julia Ritchey, Cooper Katz McKim and Corey Bridges with engineering by Travis Hagan and Robert Rodriguez. They were fact checked by Vito Emanuel and Sierra Juarez. Kate Concannon edits the show. This episode of Planet Money was produced by James Sneed with help from Emma Murphy. Alex Goldmark is our executive producer. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

One reason the $70 billion supplement industry is set to double in the next seven years? Lax regulation. On today's show, we tell the story of a century-long battle between the U.S. government and … you , the people, blinded by your love of a magic pill. We’re talking about protein powders, pre-workouts, creatine, stuff for gut health, joint health, vitamin C, turmeric supplements. All that. You might not wanna hear this. Sources mentioned in the episode: Marion Nestle, Food Politics Catherine Price, Vitamania Support: Planet Money+ Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletter Our weekly Indicator round-up newsletter Follow: Instagram TikTok YouTube Facebook This episode was hosted by Sarah Gonzalez and Jane Black. It was produced by Sam Yellowhorse Kesler, edited by Marianne McCune, and fact checked by Sierra Juarez with help with Vito Emanuel. It was engineered by Robert Rodriguez with help from Jimmy Keeley. Alex Goldmark is Planet Money ’s executive producer. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

Have you ever walked around a street, mall, or airport and noticed two or three of the same franchise restaurant within walking distance? Why might one Starbucks or McDonald’s or Wetzel’s Pretzels sometimes be built so close to another? Are they friends or competitors? And how can that possibly be profitable? Today’s show is one such example. Our pals at Hyperfixed got a knotty question we just had to help them untangle: Why are there so many Wetzel’s Pretzels so close to one another at the Atlantic Avenue-Barclays Center Station? To find out, Alexi Horowitz-Ghazi followed the dough all the way to the top. His journey led him to a jolly pretzel executive, a franchisee with a deep-fried American dream, and a brush with mall security. Support: Planet Money+ Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletter Our weekly Indicator round-up newsletter Follow: Instagram TikTok YouTube Facebook This episode was hosted by Alex Goldman and Alexi Horowitz-Ghazi. Hyperfixed is produced and edited by Emma Courtland, Amor Yates, Sari Soffer Sukenik and Tori Dominguez Peak. The music is by the mysterious Breakmaster Cylinder and Alex Goldman. It was engineered by Tony Williams. Fact checking by Naomi Barr. The Planet Money version was produced by Sam Yellowhorse Kesler and edited by Jess Jiang. It was engineered by Robert Rodriguez. Alex Goldmark is Planet Money ’s executive producer. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

99% of chemicals in our food right now were added without FDA approval. Many were added in secret, through a sneaky loophole built into the 1958 Food Additives Amendment. It was supposed to require FDA approval for new additives. But food companies and chemical makers found a workaround. And the FDA formally okayed the loophole in the 90s — in the process bringing attention to a loophole to the loophole. The FDA has essentially admitted it doesn’t have the capacity to verify the safety of new food chemicals. So they leave it up to food companies and chemical makers to declare their brand new chemicals are safe. These chemicals are used in everything from chocolate and smoked fish, to tea bags, protein drinks, popcorn, and seeds. So, how’d the loophole get there, and what does it tell us about the priority the U.S. places on safety versus speed and innovation? And, how much can one lawyer do about it? Live show tour and book info. / Subscribe to Planet Money+ Listen free: Apple Podcasts , Spotify , the NPR app or anywhere you get podcasts. Facebook / Instagram / TikTok / Our weekly Newsletter . This episode was hosted by Sarah Gonzalez, produced by Sam Yellowhorse Kesler, edited by Jess Jiang, fact checked by Sierra Juarez, and engineered by Robert Rodrguez with help from Kwesi Lee. Alex Goldmark is Planet Money’s executive producer. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy

Tax avoidance -- that is, legally reducing your tax bill -- is as American as apple pie. But the line between tax avoidance and tax evasion is often a grey one. On today’s show, a collaboration with Tax Notes , we listen in on the secret tapes that show how the wealthiest Americans avoid taxes. We trace the lifecycle of a tax loophole: how it was born (in Malta), how it grew, how the Feds cracked down, and how the industry came to its rescue -- with the help of one high-ranking Trump administration official. Support: Planet Money+ Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletter Our weekly Indicator round-up newsletter Follow: Instagram TikTok YouTube Facebook This episode was produced by Luis Gallo and Emma Peaslee and edited by Marianne McCune. It was fact-checked by Sierra Juarez and engineered by Cena Loffredo and Robert Rodriguez. Alex Goldmark is Planet Money’s executive producer. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy