Planet Money

Joined by George Papakonstantino, a Professor at the European University Institute and former Greek finance minister, the discussion dives into the dark side of data manipulation. They explore Argentina's inflation statistics scandal and the ensuing fallout, highlighting the struggle for public trust. Papakonstantino then shares insights on Greece's own financial reporting failures, emphasizing the critical need for transparency in economic data. The conversation reveals how cooking the books can lead to long-term economic distrust and the challenges of correcting these missteps.

Juan Ricard-Uguet, a political science professor at Loyola University, Maryland, dives into the complex relationship between government and industry. He discusses how governments shape economies through industrial policies, examining the effectiveness of interventions like tax breaks. The conversation spans global examples, from Argentina's failed phone manufacturing hub to China's solar dominance, highlighting key factors for success and the pitfalls of mismanaged policies. It’s a thought-provoking look at when and why governments should step in to guide industries.

Trust in economists is at an all-time low, especially after a series of controversial job reports and firing incidents. The podcast dives into a tense discussion about the challenges the profession faces, particularly in light of past economic crises like the housing market crash. Experts explore how failures in predicting economic downturns have fueled public skepticism. They discuss strategies to rebuild trust, emphasizing accountability, transparency, and more relatable communication to restore faith in economic forecasts.

Joanne-Ricard Uguet, an associate professor in political science, joins former co-host David Kestenbaum to dive into the complex world of government regulations. They discuss whether regulations truly protect consumers or merely the wealthy elites. The conversation takes lively turns as they explore the licensing hurdles faced by hair braiders and the innovative quest to patent meat processing methods. Tune in for an insightful look at how regulations can stifle creativity while also keeping public safety in check.

Joining the discussion is Sarah Bowerly-Danzman, a political economist and former CFIUS case officer. The conversation dives into the hotly debated acquisition of U.S. Steel by Japan's Nippon Steel, especially the implications of the ‘golden share’—a rare control mechanism allowing government oversight. Sarah unpacks the historical context of golden shares, weighing their potential benefits for attracting foreign investment against concerns of government overreach. It’s a lively examination of the intersection between national security and economic interests.

Aviva Arundine, Director of the Hamilton Project at the Brookings Institution, shares her insights on government spending. She explains the challenges of budgeting against rising national debt and the complexities of deciding what to fund. The discussion highlights the significant allocations for Medicare and Medicaid, the influence of lobbying on fiscal priorities, and how politicians juggle personal interests with public responsibilities. Discover how strategic investments shape economic sustainability and the tricky balance between political goals and responsible spending.

Delve into the political obsession with reviving manufacturing in the U.S. and why it holds a unique place in the economy. Discover the paradox of unfilled manufacturing jobs despite their high wages and job security. Explore the stark contrast between thriving urban centers and struggling small towns, as revitalizing manufacturing emerges as a crucial strategy for economic growth. The discussion also highlights the need to redefine quality employment, particularly in the face of automation and shifting job landscapes.

Congress's recent decision to cut federal funding for public media raises serious concerns about the future of independent journalism. The impact of these cuts is profound, particularly for rural communities that rely on local storytelling and news. The podcast advocates for public support to ensure media remains free and accessible, highlighting the essential role it plays in our democracy.

Darrick Hamilton, a distinguished professor at The New School and expert in economic policy, dives into the multifaceted role of taxes in shaping behavior and society. He discusses how taxes can incentivize eco-friendly practices and promote homeownership. The transformative impact of the Earned Income Tax Credit is highlighted, showcasing its effectiveness in supporting low-income individuals. Furthermore, Hamilton explores Pigouvian taxes as a solution for negative externalities like pollution, illustrating how smart tax policy can drive significant change for the better.

Discover the realities of garment manufacturing in the U.S. through the inspiring story of Maria, a dedicated worker in Los Angeles. Uncover the challenges she faces, from piece-rate pay to striving for skill enhancement. The discussion sheds light on wage theft, labor conditions, and the stark differences between American workers and their international counterparts. Delve into the potential for growth in domestic manufacturing and explore the tough choices Americans face about labor in the garment industry today.