Planet Money

David Rashid, CEO of Plews and Edelmann, dives into a gripping tale of trade fraud as he investigates his Chinese competitor, Qingdao Sunsong. Despite tariffs aimed at leveling the playing field, Sunsong keeps prices low, sparking Rashid's quest for answers. He uncovers possible deception involving routing Chinese products through Thailand. The journey involves forensic analyses and international detectives, highlighting the complexities of tariffs and the murky waters of trade laws. A surprising friendship blooms over hummus amidst the chaos!

Explore the dramatic transformation in government-business relationships during the Great Depression. Discover how the 1929 stock market crash led to staggering unemployment and bank failures. Delve into FDR's fireside chats and the decision to abandon the gold standard, which altered monetary policy forever. Hear about the power dynamics within labor as workers organized for rights amidst economic turmoil. The discussion highlights pivotal moments in labor history that reshaped the workforce and union landscape in America.

Dive into the alluring yet risky world of modern banking apps that promise convenience without the constraints of traditional banks. Discover how a Texas couple navigated the ups and downs of their financial journey and the gamified savings approach of one enthralling app. Hear the chilling accounts of users facing crises when their accounts were suddenly locked, revealing the darker side of fintech. As trust issues and regulatory ambiguities surface, experts weigh in on the future of saving in a tech-savvy world.

Cheng Tai-xie, an expert in Asian economies at the Booth School of Business, dives into the astonishing economic transformations of China and Taiwan from the 1950s onward. He discusses the critical role of government strategies that embraced free market principles and sparked incredible growth. The narrative highlights Taiwan's semiconductor renaissance and the transformative agricultural reforms in Xiaogang, illustrating how individual incentives can drive national prosperity. Can other nations replicate this success? Discover the essential lessons learned from this remarkable journey.

The podcast dives into breakdancing's journey to Olympic recognition, highlighting the struggle to fairly judge this art form. Legendary b-boys Storm and Renegade work on a scoring system that respects the dance's creativity while addressing its competitive nature. The discussion touches on the clash between artistic expression and standardized scoring, echoing challenges seen in other Olympic sports. As breakdancing prepares for the spotlight, there are both excitement and concerns about preserving its cultural essence.

In this discussion, Gordon Hansen, a Harvard Economics professor, dives into 250 years of trade history. He explores Adam Smith's revolutionary concepts of free trade and their early American implications, contrary to the protective policies that defined past political debates. Hansen highlights key figures, like Cordell Hull, who transitioned from skepticism to championing trade for global peace, while examining modern criticisms of trade agreements and their often overlooked consequences. This engaging conversation illuminates the complex interplay between trade policy and the economy.

Ever received a mysterious notice about a class action lawsuit? You're not alone! The podcast dives into the complexities of these legal battles, explaining how they allow individuals to join forces against companies. With real-life cases like Shutterfly, it breaks down the process of verifying settlement notices and the risks of missing out on claims. Experience the frustrations of navigating these legal waters and learn why timely responses are crucial. Plus, find out how society’s growing reliance on class actions affects consumer protection.

Sharon Murphy, a professor of early American financial history, dives into the foundational years of the U.S. economy. She explores the fierce clash between President Andrew Jackson and Bank of the United States president Nicholas Biddle, shedding light on their opposing views of economic power. The discussion also reveals the chaotic landscape of early American currency, illustrating the shift from countless forms of money to the introduction of a standardized dollar during the Civil War, and why economic panics continue to haunt us today.

Anne Carlos, an economic historian from the University of Colorado, dives into the fascinating origins of modern finance. She explores how the stock market began in 1600s Amsterdam, the role of the Dutch East India Company, and innovative practices like short selling. The conversation touches on the significance of perpetual bonds and how they shape contemporary finance. Carlos also highlights the delicate balance between market growth and instability, illuminating the historical lessons that still impact investors today.

The podcast dives into Kamala Harris's evolving economic agenda following Biden's endorsement. Key highlights include her 2019 campaign proposals focusing on wealth distribution for the working class and her stance against major trade agreements. Listeners learn about her confrontations with banks as California's Attorney General, reflecting her commitment to protect middle-class homeowners. The discussion also explores the implications of recent political shifts on her future policies, showcasing a blend of advocacy and economic strategy.