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Think Like An Economist

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From world events to everyday decisions, economics explains it all. Platypus Economics makes it clear, useful, and actually fun.
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From world events to everyday decisions, economics explains it all. Platypus Economics makes it clear, useful, and actually fun.
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America keeps talking about manufacturing — but the labor market is growing elsewhere. In this Q&A, Justin Wolfers answers audience questions and responds to subscriber comments from his recent episode diving into the gender gap in recent job growth. Topics addressed include: how the gender wage gap fits into the story, what’s standing in the way of more men entering care jobs, and whether the demand for labor in traditionally masculine fields has been overhyped. It’s a discussion about economics, politics, and culture — and part of a larger conversation that’s only just beginning. Subscribe on Youtube: https://www.youtube.com/@PlatypusEconomics Subscribe on Substack 👉 https://newsletter.platypuseconomics.com Follow on Social Media @PlatypusEconomics and @JustinWolfers
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America keeps talking about manufacturing — but the labor market is growing elsewhere. In this Q&A, Justin Wolfers answers audience questions and responds to subscriber comments from his recent episode diving into the gender gap in recent job growth. Topics addressed include: how the gender wage gap fits into the story, what’s standing in the way of more men entering care jobs, and whether the demand for labor in traditionally masculine fields has been overhyped. It’s a discussion about economics, politics, and culture — and part of a larger conversation that’s only just beginning. Subscribe on Youtube: https://www.youtube.com/@PlatypusEconomics Subscribe on Substack 👉 https://newsletter.platypuseconomics.com Follow on Social Media @PlatypusEconomics and @JustinWolfers
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In this episode of Off the Clock, Justin unwinds the week’s economic news with his friend, Stacey Vanek Smith—senior writer for Bloomberg Businessweek and cohost of the Everybody’s Business podcast. The goal of this series is to help you understand what to actually be concerned about, what you can safely ignore, and where there’s room for a bit of hope. They dig into May’s better-than-expected jobs report, the stock market’s confusing reaction, and the recent concert cancellations for Trump’s Freedom 250 celebration. Justin argues there’s an economic story here—especially when you compare the rational choices of these artists to the tech industry’s relentless political brown-nosing. Then—in a new segment—Justin and Stacey take a step back from the grind of a daily news cycle to appreciate larger economic trends that give us much more fodder for optimism. First up—inflation (yes, really!).  Subscribe on YouTube https://www.youtube.com/@PlatypusEconomics Subscribe on Substack 👉 https://newsletter.platypuseconomics.com Follow on Social Media @PlatypusEconomics @JustinWolfers Follow Stacey @svankesmith Editor’s Note: In this conversation, we mistakenly refer to Freedom 250 as America250. America250 is a bipartisan initiative established by Congress in 2016 to commemorate America’s 250th birthday. Freedom 250 is a separate, public-private initiative established by the Trump administration via executive order earlier this year.
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In this episode of Off the Clock, Justin unwinds the week’s economic news with his friend, Stacey Vanek Smith—senior writer for Bloomberg Businessweek and cohost of the Everybody’s Business podcast. The goal of this series is to help you understand what to actually be concerned about, what you can safely ignore, and where there’s room for a bit of hope. They dig into May’s better-than-expected jobs report, the stock market’s confusing reaction, and the recent concert cancellations for Trump’s Freedom 250 celebration. Justin argues there’s an economic story here—especially when you compare the rational choices of these artists to the tech industry’s relentless political brown-nosing. Then—in a new segment—Justin and Stacey take a step back from the grind of a daily news cycle to appreciate larger economic trends that give us much more fodder for optimism. First up—inflation (yes, really!).  Subscribe on YouTube https://www.youtube.com/@PlatypusEconomics Subscribe on Substack 👉 https://newsletter.platypuseconomics.com Follow on Social Media @PlatypusEconomics @JustinWolfers Follow Stacey @svankesmith Editor’s Note: In this conversation, we mistakenly refer to Freedom 250 as America250. America250 is a bipartisan initiative established by Congress in 2016 to commemorate America’s 250th birthday. Freedom 250 is a separate, public-private initiative established by the Trump administration via executive order earlier this year.
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Published 2026-06-03

The Pink-Collar Economy Is Here | Diving In

13 min Transcript
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Since the start of President Trump’s second term, women have received 86% of net new payroll jobs and now hold slightly more non-farm payroll jobs than men. In this episode, Justin Wolfers explains why that shift is happening and what it says about our modern U.S. economy.  This trend is not driven by employers suddenly preferring women over men, but by which parts of the economy are actually growing. The industries adding jobs are disproportionately female-heavy – especially healthcare and education. Nevertheless, much of our economic policy continues to center an outdated image of work: factory floors, hard hats, and a romanticized industrial past. But if policy keeps looking backward, it will miss where real opportunity is being created. And if leaders steer training, subsidies, and political attention toward yesterday's jobs instead of tomorrow's, workers will be left less prepared for the labor market that actually exists. Watch on YouTube: https://www.youtube.com/@PlatypusEconomics  Subscribe on Substack: https://newsletter.platypuseconomics.com/ Follow on Social Media @PlatypusEconomics and @JustinWolfers
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Since the start of President Trump’s second term, women have received 86% of net new payroll jobs and now hold slightly more non-farm payroll jobs than men. In this episode, Justin Wolfers explains why that shift is happening and what it says about our modern U.S. economy.  This trend is not driven by employers suddenly preferring women over men, but by which parts of the economy are actually growing. The industries adding jobs are disproportionately female-heavy – especially healthcare and education. Nevertheless, much of our economic policy continues to center an outdated image of work: factory floors, hard hats, and a romanticized industrial past. But if policy keeps looking backward, it will miss where real opportunity is being created. And if leaders steer training, subsidies, and political attention toward yesterday's jobs instead of tomorrow's, workers will be left less prepared for the labor market that actually exists. Watch on YouTube: https://www.youtube.com/@PlatypusEconomics  Subscribe on Substack: https://newsletter.platypuseconomics.com/ Follow on Social Media @PlatypusEconomics and @JustinWolfers
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What happens when politicians try to look like they’re fixing high gas prices without actually fixing them? Justin Wolfers explains why a federal gas tax holiday is bad economics, good theater, and a gift to oil companies.  In a follow-up to his explainer episode, Justin answers audience questions about windfall taxes, what smarter relief could look like, whether a diesel tax holiday make any more sense, and why gas prices carry so much psychological weight in American politics. Like and review for more clear-eyed economics with Justin Wolfers.
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What happens when politicians try to look like they’re fixing high gas prices without actually fixing them? Justin Wolfers explains why a federal gas tax holiday is bad economics, good theater, and a gift to oil companies.  In a follow-up to his explainer episode, Justin answers audience questions about windfall taxes, what smarter relief could look like, whether a diesel tax holiday make any more sense, and why gas prices carry so much psychological weight in American politics. Like and review for more clear-eyed economics with Justin Wolfers.
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A gas tax holiday sounds like relief, but gets the economics wrong in almost every direction. Today’s high prices are a war problem — not a tax problem. And cheaper gas is the exact wrong response to a shortage. When something is scarce, higher prices send a signal to conserve, but a tax cut blunts that signal and encourages more demand at exactly the wrong moment. It's akin to subsidizing showers in a drought. Even more frustrating, the difference between impact and incidence means that much of the benefit would bypass drivers completely — fattening the profits of oil companies instead. 📈 Key takeaway: If you want to help families during an energy shock, target the hardship—not the gasoline. ⛽ Like and review for more clear-eyed economic analysis with Justin Wolfers—no empty tanks, no empty talking points.
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A gas tax holiday sounds like relief, but gets the economics wrong in almost every direction. Today’s high prices are a war problem — not a tax problem. And cheaper gas is the exact wrong response to a shortage. When something is scarce, higher prices send a signal to conserve, but a tax cut blunts that signal and encourages more demand at exactly the wrong moment. It's akin to subsidizing showers in a drought. Even more frustrating, the difference between impact and incidence means that much of the benefit would bypass drivers completely — fattening the profits of oil companies instead. 📈 Key takeaway: If you want to help families during an energy shock, target the hardship—not the gasoline. ⛽ Like and review for more clear-eyed economic analysis with Justin Wolfers—no empty tanks, no empty talking points.
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Published 2026-05-23

Is Inflation Going to Ruin the Summer? | Off the Clock

43 min Transcript
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Justin Wolfers is back with Stacey Vanek Smith to break down three of the biggest stories in economic news. Starting with the arrival of new Fed Chair Kevin Warsh — and the question of which Kevin Warsh will show up for the job: the inflation hawk from the Great Recession, or a more political figure likely to echo President Trump's calls for lower interest rates. Next, Justin and Stacey cover Bond Market 101, with Justin explaining why the U.S. government sells Treasury bonds, why investors buy them, and what rising long-term yields signal about inflation, oil prices, and the national debt. Finally, they dig into the stunning collapse in consumer sentiment, and why Justin believes these historically bleak numbers reflect something deeper than a bad economy — namely, a crisis of confidence in the people managing U.S. economic policy. At the same time, Stacey points out the affordability crunch is very real, with inflation hitting some summertime staples especially hard. If you enjoy this episode, please rate and review — and check out the link below to weigh in on Justin and Stacey's bet about midterm gas prices on Manifold Markets! Link to Justin & Stacey's bet: https://manifold.markets/StaceyVanekSmith/will-national-gas-prices-in-the-us
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Justin Wolfers is back with Stacey Vanek Smith to break down three of the biggest stories in economic news. Starting with the arrival of new Fed Chair Kevin Warsh — and the question of which Kevin Warsh will show up for the job: the inflation hawk from the Great Recession, or a more political figure likely to echo President Trump's calls for lower interest rates. Next, Justin and Stacey cover Bond Market 101, with Justin explaining why the U.S. government sells Treasury bonds, why investors buy them, and what rising long-term yields signal about inflation, oil prices, and the national debt. Finally, they dig into the stunning collapse in consumer sentiment, and why Justin believes these historically bleak numbers reflect something deeper than a bad economy — namely, a crisis of confidence in the people managing U.S. economic policy. At the same time, Stacey points out the affordability crunch is very real, with inflation hitting some summertime staples especially hard. If you enjoy this episode, please rate and review — and check out the link below to weigh in on Justin and Stacey's bet about midterm gas prices on Manifold Markets! Link to Justin & Stacey's bet: https://manifold.markets/StaceyVanekSmith/will-national-gas-prices-in-the-us
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What happens when students can’t instantly reach for their phones? In this episode of Diving In, Justin Wolfers breaks down the latest research on school phone bans and finds a result that’s more complicated—and more interesting—than many parents, teachers, and policymakers expected. Here's the broader lesson: removing a distraction does not automatically create a better outcome. In economics, that’s the problem of substitution. If less phone time turns into more sleep, conversation, or focus, that’s good. If it turns into some other kind of distraction or conflict, the gains are smaller. For parents, teachers, and anyone trying to build healthier tech habits, the stakes are personal. A little friction can change behavior—but what you put in the phone’s place may matter just as much for your family, your kids, and your own mental well-being. Check out the full paper here: https://siepr.stanford.edu/publications/working-paper/effects-school-phone-bans-national-evidence-lockable-pouches 📈 Key takeaway: Phone bans can reduce use and improve well-being over time, but the real question is what fills the space the phone leaves behind. 🔔 Don't forget to like and review!
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What happens when students can’t instantly reach for their phones? In this episode of Diving In, Justin Wolfers breaks down the latest research on school phone bans and finds a result that’s more complicated—and more interesting—than many parents, teachers, and policymakers expected. Here's the broader lesson: removing a distraction does not automatically create a better outcome. In economics, that’s the problem of substitution. If less phone time turns into more sleep, conversation, or focus, that’s good. If it turns into some other kind of distraction or conflict, the gains are smaller. For parents, teachers, and anyone trying to build healthier tech habits, the stakes are personal. A little friction can change behavior—but what you put in the phone’s place may matter just as much for your family, your kids, and your own mental well-being. Check out the full paper here: https://siepr.stanford.edu/publications/working-paper/effects-school-phone-bans-national-evidence-lockable-pouches 📈 Key takeaway: Phone bans can reduce use and improve well-being over time, but the real question is what fills the space the phone leaves behind. 🔔 Don't forget to like and review!
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In this follow-up to an episode diving in to the federal deficit, Justin Wolfers responds to audience comments and questions including: where are interest payments going? Why can’t the government just print more money? And how do changes in immigration impact our ability to pay back our debt? If you'd like Justin to answer your question in a future segment of The Professor Is In, leave a comment below. And don’t forget to rate and review!
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In this follow-up to an episode diving in to the federal deficit, Justin Wolfers responds to audience comments and questions including: where are interest payments going? Why can’t the government just print more money? And how do changes in immigration impact our ability to pay back our debt? If you'd like Justin to answer your question in a future segment of The Professor Is In, leave a comment below. And don’t forget to rate and review!
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The Pentagon said the war with Iran has cost Americans $25 billion. But that number only accounts for missiles fired and equipment destroyed. The true cost of war is measured by the future we’ve given up. In this video — my Director’s Cut of an Op-Ed I wrote last week for the New York Times — I explain why that figure is dangerously misleading and show you the math for a less precise, but far more honest answer. Using the economic concept of opportunity cost, I walk through six methods for calculating the war’s real price tag, tracing the clues through oil, interest rates, geopolitical risk, the stock market, GDP, and future defense budgets. Each of these prove that this war is not costing tens of billions — but hundreds of billions, and quite possibly trillions. Every number answers a question, and the Pentagon's $25 billion answers a very small one. Here, I'm asking the bigger one: compared to the world we had before this war, what have we lost? The answer should concern every American household. NYT Op-Ed: https://www.nytimes.com/2026/05/08/opinion/hegseth-war-cost.html
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The Pentagon said the war with Iran has cost Americans $25 billion. But that number only accounts for missiles fired and equipment destroyed. The true cost of war is measured by the future we’ve given up. In this video — my Director’s Cut of an Op-Ed I wrote last week for the New York Times — I explain why that figure is dangerously misleading and show you the math for a less precise, but far more honest answer. Using the economic concept of opportunity cost, I walk through six methods for calculating the war’s real price tag, tracing the clues through oil, interest rates, geopolitical risk, the stock market, GDP, and future defense budgets. Each of these prove that this war is not costing tens of billions — but hundreds of billions, and quite possibly trillions. Every number answers a question, and the Pentagon's $25 billion answers a very small one. Here, I'm asking the bigger one: compared to the world we had before this war, what have we lost? The answer should concern every American household. NYT Op-Ed: https://www.nytimes.com/2026/05/08/opinion/hegseth-war-cost.html
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Published 2026-05-11

Are Met Gala Tickets Too Cheap? | Diving In

13 min Transcript
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In this episode of Diving In, Justin Wolfers breaks down the economics of the Met Gala using two big ideas from economics: signaling and non-price competition. The basic point is simple: the high price of luxury goods isn't a bug in the system, it's the whole point. So instead of competing through discounts, brands must compete through spectacle: celebrity placements, giant flagship stores, fashion shows, editorial buzz, and events like the Met Gala — which Wolfers argues is a less-bad outlets for wasteful, non-price competition. In fact, the real scandal may be that Met Gala tickets are underpriced. If brands capture enormous media value from the event while the museum gets only a relatively small share, then the Met may be giving luxury houses a very good deal. The stakes here go beyond fashion. This is a lesson in how markets work when buyers care about status, not just usefulness—and how that affects where money gets spent, what gets built, and how prestige shapes the economy around you.
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In this episode of Diving In, Justin Wolfers breaks down the economics of the Met Gala using two big ideas from economics: signaling and non-price competition. The basic point is simple: the high price of luxury goods isn't a bug in the system, it's the whole point. So instead of competing through discounts, brands must compete through spectacle: celebrity placements, giant flagship stores, fashion shows, editorial buzz, and events like the Met Gala — which Wolfers argues is a less-bad outlets for wasteful, non-price competition. In fact, the real scandal may be that Met Gala tickets are underpriced. If brands capture enormous media value from the event while the museum gets only a relatively small share, then the Met may be giving luxury houses a very good deal. The stakes here go beyond fashion. This is a lesson in how markets work when buyers care about status, not just usefulness—and how that affects where money gets spent, what gets built, and how prestige shapes the economy around you.
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What actually mattered in this week’s avalanche of economic news? In this conversation, Justin talks to his friend, Stacey Vanek Smith, Senior writer for Bloomberg Businessweek and cohost of the Everybody’s Business podcast. Together, they sort the signal from the noise: Spirit Airlines’ collapse, the U.S. debt hitting 100% of GDP, and whether AI is really driving growth—or just the headlines. For viewers trying to determine what to worry about, what you can safely ignore, and where’s there’s room for a bit of hope, this is is a practical guide to what matters and why it affects your life. The stakes are real: oil shocks can raise the cost of everyday goods, high debt can reduce the government’s room to respond in a downturn, and AI could reshape careers faster than many families are prepared for.
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What actually mattered in this week’s avalanche of economic news? In this conversation, Justin talks to his friend, Stacey Vanek Smith, Senior writer for Bloomberg Businessweek and cohost of the Everybody’s Business podcast. Together, they sort the signal from the noise: Spirit Airlines’ collapse, the U.S. debt hitting 100% of GDP, and whether AI is really driving growth—or just the headlines. For viewers trying to determine what to worry about, what you can safely ignore, and where’s there’s room for a bit of hope, this is is a practical guide to what matters and why it affects your life. The stakes are real: oil shocks can raise the cost of everyday goods, high debt can reduce the government’s room to respond in a downturn, and AI could reshape careers faster than many families are prepared for.
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In this opening episode for Platypus Economics, Justin Wolfers explains why the federal budget deficit is one of the best examples of how economics can clarify a debate that politics often mangles. The central point is simple: deficits are not automatically good or bad, but a tool. And the only serious question is whether borrowing makes sense given the economy, the emergency, and the country’s ability to pay. In a crisis, large deficits are often smart policy—stabilizing incomes, supporting jobs, and keeping an economic downturn from becoming a disaster. But today’s U.S. deficit is different. America is currently running a very large deficit—about 5.8% of GDP—without the usual crisis justification. The stakes are not instant collapse, but a slower erosion of fiscal capacity, institutional credibility, and the ability to spend on things that could actually improve your life.
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In this opening episode for Platypus Economics, Justin Wolfers explains why the federal budget deficit is one of the best examples of how economics can clarify a debate that politics often mangles. The central point is simple: deficits are not automatically good or bad, but a tool. And the only serious question is whether borrowing makes sense given the economy, the emergency, and the country’s ability to pay. In a crisis, large deficits are often smart policy—stabilizing incomes, supporting jobs, and keeping an economic downturn from becoming a disaster. But today’s U.S. deficit is different. America is currently running a very large deficit—about 5.8% of GDP—without the usual crisis justification. The stakes are not instant collapse, but a slower erosion of fiscal capacity, institutional credibility, and the ability to spend on things that could actually improve your life.
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Think Like An Economist has taken you on a journey through the economic principles, showing you the tools of economics, and how they can be applied at home and at work. In this season finale, Betsey Stevenson and Justin Wolfers reveal the big life choices they've made using those tools of economics, and how you can apply economics to help make decisions throughout your life.Co-Host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media Production.
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Think Like An Economist has taken you on a journey through the economic principles, showing you the tools of economics, and how they can be applied at home and at work. In this season finale, Betsey Stevenson and Justin Wolfers reveal the big life choices they've made using those tools of economics, and how you can apply economics to help make decisions throughout your life.Co-Host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media Production.
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Think Like An Economist has taken you on a journey through the economic principles, showing you the tools of economics, and how they can be applied at home and at work. In this season finale, Betsey Stevenson and Justin Wolfers reveal the big life choices they've made using those tools of economics, and how you can apply economics to help make decisions throughout your life.

Co-Host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media Production.

See omnystudio.com/listener for privacy information.

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Think Like An Economist has taken you on a journey through the economic principles, showing you the tools of economics, and how they can be applied at home and at work. In this season finale, Betsey Stevenson and Justin Wolfers reveal the big life choices they've made using those tools of economics, and how you can apply economics to help make decisions throughout your life.

Co-Host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media Production.

See omnystudio.com/listener for privacy information.

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Published 2021-12-07

Useful Economics in Everyday Life

18 min
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We're all actors in the economy, with different habits, dilemmas and choices. And economics is about everyday decisions in our daily lives as much as it is about government policy. As economics professors, Betsey Stevenson and Justin Wolfers have honed the ways to show how economics involves everyone. They discuss their method of teaching economics, and the way they show that economic tools can help us all make good decisions.Co-Host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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We're all actors in the economy, with different habits, dilemmas and choices. And economics is about everyday decisions in our daily lives as much as it is about government policy. As economics professors, Betsey Stevenson and Justin Wolfers have honed the ways to show how economics involves everyone. They discuss their method of teaching economics, and the way they show that economic tools can help us all make good decisions.Co-Host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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Published 2021-12-07

Useful Economics in Everyday Life

18 min Transcript
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We're all actors in the economy, with different habits, dilemmas and choices. And economics is about everyday decisions in our daily lives as much as it is about government policy. As economics professors, Betsey Stevenson and Justin Wolfers have honed the ways to show how economics involves everyone. They discuss their method of teaching economics, and the way they show that economic tools can help us all make good decisions.

Co-Host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

More description

We're all actors in the economy, with different habits, dilemmas and choices. And economics is about everyday decisions in our daily lives as much as it is about government policy. As economics professors, Betsey Stevenson and Justin Wolfers have honed the ways to show how economics involves everyone. They discuss their method of teaching economics, and the way they show that economic tools can help us all make good decisions.

Co-Host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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Emily Oster is one of the most interesting economists in the world, and she uses the tools of economics in everything she does. Betsey Stevenson and Justin Wolfers explore Emily's thoughts about how economic ideas can provide useful insight for parents and families. This audio course is about how to think like an economist, and Emily models exactly how to do this.Editor: Alastair Elphick. A Modulated Media production.
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Emily Oster is one of the most interesting economists in the world, and she uses the tools of economics in everything she does. Betsey Stevenson and Justin Wolfers explore Emily's thoughts about how economic ideas can provide useful insight for parents and families. This audio course is about how to think like an economist, and Emily models exactly how to do this.Editor: Alastair Elphick. A Modulated Media production.
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Emily Oster is one of the most interesting economists in the world, and she uses the tools of economics in everything she does. Betsey Stevenson and Justin Wolfers explore Emily's thoughts about how economic ideas can provide useful insight for parents and families. This audio course is about how to think like an economist, and Emily models exactly how to do this.

Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

More description

Emily Oster is one of the most interesting economists in the world, and she uses the tools of economics in everything she does. Betsey Stevenson and Justin Wolfers explore Emily's thoughts about how economic ideas can provide useful insight for parents and families. This audio course is about how to think like an economist, and Emily models exactly how to do this.

Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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Larry Summers has been at the forefront of economic thinking for decades - a World Bank chief economist, Professor at Harvard and U.S. Treasury Secretary. He's also warned that the global economy is in the midst of secular stagnation. In this episode, he tells Betsey Stevenson and Justin Wolfers why the economy is stagnant, in spite of low interest rates. The three economists also discuss why their field is so influential, and Larry reveals how policy makers get things done.Editor: Alastair Elphick. A Modulated Media production.
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Larry Summers has been at the forefront of economic thinking for decades - a World Bank chief economist, Professor at Harvard and U.S. Treasury Secretary. He's also warned that the global economy is in the midst of secular stagnation. In this episode, he tells Betsey Stevenson and Justin Wolfers why the economy is stagnant, in spite of low interest rates. The three economists also discuss why their field is so influential, and Larry reveals how policy makers get things done.Editor: Alastair Elphick. A Modulated Media production.
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Larry Summers has been at the forefront of economic thinking for decades - a World Bank chief economist, Professor at Harvard and U.S. Treasury Secretary. He's also warned that the global economy is in the midst of secular stagnation. In this episode, he tells Betsey Stevenson and Justin Wolfers why the economy is stagnant, in spite of low interest rates. The three economists also discuss why their field is so influential, and Larry reveals how policy makers get things done.

Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

More description

Larry Summers has been at the forefront of economic thinking for decades - a World Bank chief economist, Professor at Harvard and U.S. Treasury Secretary. He's also warned that the global economy is in the midst of secular stagnation. In this episode, he tells Betsey Stevenson and Justin Wolfers why the economy is stagnant, in spite of low interest rates. The three economists also discuss why their field is so influential, and Larry reveals how policy makers get things done.

Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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Professor Greg Mankiw is one of the most influential economists today: a New Keynesian, advisor to Presidents, and a good friend of Betsey Stevenson and Justin Wolfers. In this episode, the three of them discuss what we can learn from financial crises, why globalisation has lost its shine, and how best to communicate economic ideas.Editor: Alastair Elphick. A Modulated Media production.
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Professor Greg Mankiw is one of the most influential economists today: a New Keynesian, advisor to Presidents, and a good friend of Betsey Stevenson and Justin Wolfers. In this episode, the three of them discuss what we can learn from financial crises, why globalisation has lost its shine, and how best to communicate economic ideas.Editor: Alastair Elphick. A Modulated Media production.
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Professor Greg Mankiw is one of the most influential economists today: a New Keynesian, advisor to Presidents, and a good friend of Betsey Stevenson and Justin Wolfers. In this episode, the three of them discuss what we can learn from financial crises, why globalisation has lost its shine, and how best to communicate economic ideas.

Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

More description

Professor Greg Mankiw is one of the most influential economists today: a New Keynesian, advisor to Presidents, and a good friend of Betsey Stevenson and Justin Wolfers. In this episode, the three of them discuss what we can learn from financial crises, why globalisation has lost its shine, and how best to communicate economic ideas.

Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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Published 2021-09-21

Behavioral Economics - We're only human!

11 min
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We all can make mistakes when faced with choices. Biases and old habits can get in the way of good economic decision making. Betsey Stevenson and Justin Wolfers discuss the way our psychology affects our decisions, and they show how to make better judgements and assess the risks.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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We all can make mistakes when faced with choices. Biases and old habits can get in the way of good economic decision making. Betsey Stevenson and Justin Wolfers discuss the way our psychology affects our decisions, and they show how to make better judgements and assess the risks.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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Published 2021-09-21

Behavioral Economics - We're only human!

11 min Transcript
View

We all can make mistakes when faced with choices. Biases and old habits can get in the way of good economic decision making. Betsey Stevenson and Justin Wolfers discuss the way our psychology affects our decisions, and they show how to make better judgements and assess the risks.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

More description

We all can make mistakes when faced with choices. Biases and old habits can get in the way of good economic decision making. Betsey Stevenson and Justin Wolfers discuss the way our psychology affects our decisions, and they show how to make better judgements and assess the risks.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

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Published 2021-09-14

Making Decisions in an Uncertain World

20 min
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Uncertainty and risk are all around us. So how can we make good decisions when we don't know what will happen? Betsey Stevenson and Justin Wolfers show you how to understand risk, and your reaction to it, as well as giving you the tools to help reduce risk.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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Uncertainty and risk are all around us. So how can we make good decisions when we don't know what will happen? Betsey Stevenson and Justin Wolfers show you how to understand risk, and your reaction to it, as well as giving you the tools to help reduce risk.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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Published 2021-09-14

Making Decisions in an Uncertain World

20 min Transcript
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Uncertainty and risk are all around us. So how can we make good decisions when we don't know what will happen? Betsey Stevenson and Justin Wolfers show you how to understand risk, and your reaction to it, as well as giving you the tools to help reduce risk.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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Uncertainty and risk are all around us. So how can we make good decisions when we don't know what will happen? Betsey Stevenson and Justin Wolfers show you how to understand risk, and your reaction to it, as well as giving you the tools to help reduce risk.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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Published 2021-09-07

Game Theory - Thinking Strategically

22 min
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In business, as in life, we often have to make decisions based on what others choose. But how do we make the right strategic decisions? Betsey Stevenson and Justin Wolfers unpick the problems of strategic cooperation and coordination, and show you the four steps for making good strategic decisions. You now have two choices - to listen to this episode, or not!Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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In business, as in life, we often have to make decisions based on what others choose. But how do we make the right strategic decisions? Betsey Stevenson and Justin Wolfers unpick the problems of strategic cooperation and coordination, and show you the four steps for making good strategic decisions. You now have two choices - to listen to this episode, or not!Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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Published 2021-09-07

Game Theory - Thinking Strategically

22 min Transcript
View

In business, as in life, we often have to make decisions based on what others choose. But how do we make the right strategic decisions? Betsey Stevenson and Justin Wolfers unpick the problems of strategic cooperation and coordination, and show you the four steps for making good strategic decisions. You now have two choices - to listen to this episode, or not!

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

More description

In business, as in life, we often have to make decisions based on what others choose. But how do we make the right strategic decisions? Betsey Stevenson and Justin Wolfers unpick the problems of strategic cooperation and coordination, and show you the four steps for making good strategic decisions. You now have two choices - to listen to this episode, or not!

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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Great entrepreneurs identify opportunities for long-term profits before other people can. Betsey Stevenson and Justin Wolfers will help you learn how to spot your business opportunities and show you the five forces that determine profitability.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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Great entrepreneurs identify opportunities for long-term profits before other people can. Betsey Stevenson and Justin Wolfers will help you learn how to spot your business opportunities and show you the five forces that determine profitability.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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Published 2021-08-31

Business Strategy - How to boost profitability

23 min Transcript
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Great entrepreneurs identify opportunities for long-term profits before other people can. Betsey Stevenson and Justin Wolfers will help you learn how to spot your business opportunities and show you the five forces that determine profitability.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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Great entrepreneurs identify opportunities for long-term profits before other people can. Betsey Stevenson and Justin Wolfers will help you learn how to spot your business opportunities and show you the five forces that determine profitability.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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If there are profits to be made, entrepreneurs will be there to start their business. But how can they stay ahead of the competition and deter new rivals from entering the market? Betsey Stevenson and Justin Wolfers guide you through the choices managers make to remain profitable, and explain why businesses try to crush healthy competition.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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If there are profits to be made, entrepreneurs will be there to start their business. But how can they stay ahead of the competition and deter new rivals from entering the market? Betsey Stevenson and Justin Wolfers guide you through the choices managers make to remain profitable, and explain why businesses try to crush healthy competition.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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If there are profits to be made, entrepreneurs will be there to start their business. But how can they stay ahead of the competition and deter new rivals from entering the market? Betsey Stevenson and Justin Wolfers guide you through the choices managers make to remain profitable, and explain why businesses try to crush healthy competition.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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If there are profits to be made, entrepreneurs will be there to start their business. But how can they stay ahead of the competition and deter new rivals from entering the market? Betsey Stevenson and Justin Wolfers guide you through the choices managers make to remain profitable, and explain why businesses try to crush healthy competition.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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Why do some people earn so much more than others? How does society value certain jobs over other jobs - and how can we make sure we get a higher wage? Betsey Stevenson and Justin Wolfers help navigate the vagaries of the job market, and have some advice how to get the best wage deal.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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Why do some people earn so much more than others? How does society value certain jobs over other jobs - and how can we make sure we get a higher wage? Betsey Stevenson and Justin Wolfers help navigate the vagaries of the job market, and have some advice how to get the best wage deal.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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Published 2021-08-17

Why wages vary - Why some of us get paid more than others

22 min Transcript
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Why do some people earn so much more than others? How does society value certain jobs over other jobs - and how can we make sure we get a higher wage? Betsey Stevenson and Justin Wolfers help navigate the vagaries of the job market, and have some advice how to get the best wage deal.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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Why do some people earn so much more than others? How does society value certain jobs over other jobs - and how can we make sure we get a higher wage? Betsey Stevenson and Justin Wolfers help navigate the vagaries of the job market, and have some advice how to get the best wage deal.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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Economists Betsey Stevenson and Justin Wolfers are back to help you think like an economist. This season is our mini-MBA, and we'll unpack even more economic tools, with a focus on showing you how to make wise business decisions.
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Economists Betsey Stevenson and Justin Wolfers are back to help you think like an economist. This season is our mini-MBA, and we'll unpack even more economic tools, with a focus on showing you how to make wise business decisions.
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Published 2021-08-10

Think Like An Economist gets back to business

2 min Transcript
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Economists Betsey Stevenson and Justin Wolfers are back to help you think like an economist. This season is our mini-MBA, and we'll unpack even more economic tools, with a focus on showing you how to make wise business decisions.

See omnystudio.com/listener for privacy information.

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Economists Betsey Stevenson and Justin Wolfers are back to help you think like an economist. This season is our mini-MBA, and we'll unpack even more economic tools, with a focus on showing you how to make wise business decisions.

See omnystudio.com/listener for privacy information.

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Published 2021-05-11

Aggregate Demand & Aggregate Supply

23 min
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It's time to explore macroeconomics from a new yet familiar perspective, using economy-wide supply and demand curves to forecast the economy's total output and average price level. Betsey Stevenson and Justin Wolfers show you how this perspective can help you diagnose the economy's ills, and prescribe the appropriate policy medicine.SummaryCo-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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It's time to explore macroeconomics from a new yet familiar perspective, using economy-wide supply and demand curves to forecast the economy's total output and average price level. Betsey Stevenson and Justin Wolfers show you how this perspective can help you diagnose the economy's ills, and prescribe the appropriate policy medicine.SummaryCo-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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Published 2021-05-11

Aggregate Demand & Aggregate Supply

23 min Transcript
View

It's time to explore macroeconomics from a new yet familiar perspective, using economy-wide supply and demand curves to forecast the economy's total output and average price level. Betsey Stevenson and Justin Wolfers show you how this perspective can help you diagnose the economy's ills, and prescribe the appropriate policy medicine.

Summary

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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It's time to explore macroeconomics from a new yet familiar perspective, using economy-wide supply and demand curves to forecast the economy's total output and average price level. Betsey Stevenson and Justin Wolfers show you how this perspective can help you diagnose the economy's ills, and prescribe the appropriate policy medicine.

Summary

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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Published 2021-05-04

Budget Deficits and Government Debt

20 min
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Government deficits and debt are at record levels in many countries, provoking widespread anxiety. Betsey Stevenson and Justin Wolfers explain why governments run deficits and rack up debt, whether they're likely to be sustainable, and if you really need to worry.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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Government deficits and debt are at record levels in many countries, provoking widespread anxiety. Betsey Stevenson and Justin Wolfers explain why governments run deficits and rack up debt, whether they're likely to be sustainable, and if you really need to worry.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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Published 2021-05-04

Budget Deficits and Government Debt

20 min Transcript
View

Government deficits and debt are at record levels in many countries, provoking widespread anxiety. Betsey Stevenson and Justin Wolfers explain why governments run deficits and rack up debt, whether they're likely to be sustainable, and if you really need to worry.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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Government deficits and debt are at record levels in many countries, provoking widespread anxiety. Betsey Stevenson and Justin Wolfers explain why governments run deficits and rack up debt, whether they're likely to be sustainable, and if you really need to worry.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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There's no bigger player in the economy than the government, which can adjust billions of dollars worth of taxes and spending. Betsey Stevenson and Justin Wolfers explain how policymakers can adjust these levers to keep the economy on track.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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There's no bigger player in the economy than the government, which can adjust billions of dollars worth of taxes and spending. Betsey Stevenson and Justin Wolfers explain how policymakers can adjust these levers to keep the economy on track.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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Published 2021-04-27

Fiscal Policy - Government Spending and Taxes

16 min Transcript
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There's no bigger player in the economy than the government, which can adjust billions of dollars worth of taxes and spending. Betsey Stevenson and Justin Wolfers explain how policymakers can adjust these levers to keep the economy on track.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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There's no bigger player in the economy than the government, which can adjust billions of dollars worth of taxes and spending. Betsey Stevenson and Justin Wolfers explain how policymakers can adjust these levers to keep the economy on track.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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Central Banks around the world, such as the Federal Reserve, work to keep the economy running smoothly. They set interest rates and adjust financial conditions to keep inflation and unemployment stable and low. Betsey Stevenson and Justin Wolfers take you to the heart of the Fed's decision making process, and explain how those decisions affect your life and the broader economy. Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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Central Banks around the world, such as the Federal Reserve, work to keep the economy running smoothly. They set interest rates and adjust financial conditions to keep inflation and unemployment stable and low. Betsey Stevenson and Justin Wolfers take you to the heart of the Fed's decision making process, and explain how those decisions affect your life and the broader economy. Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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Central Banks around the world, such as the Federal Reserve, work to keep the economy running smoothly. They set interest rates and adjust financial conditions to keep inflation and unemployment stable and low. Betsey Stevenson and Justin Wolfers take you to the heart of the Fed's decision making process, and explain how those decisions affect your life and the broader economy. 

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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Central Banks around the world, such as the Federal Reserve, work to keep the economy running smoothly. They set interest rates and adjust financial conditions to keep inflation and unemployment stable and low. Betsey Stevenson and Justin Wolfers take you to the heart of the Fed's decision making process, and explain how those decisions affect your life and the broader economy. 

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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When a shock such as the Covid pandemic sends waves through the global economy, how do economists find ways to respond? Betsey Stevenson and Justin Wolfers guide you through the Fed Model - the mainstay of policy makers and financiers around the world. They examine the key relationships in the macroeconomy and the shocks that destabilise them.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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When a shock such as the Covid pandemic sends waves through the global economy, how do economists find ways to respond? Betsey Stevenson and Justin Wolfers guide you through the Fed Model - the mainstay of policy makers and financiers around the world. They examine the key relationships in the macroeconomy and the shocks that destabilise them.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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Published 2021-04-13

The Fed Model - Predicting what will happen to the Economy

23 min Transcript
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When a shock such as the Covid pandemic sends waves through the global economy, how do economists find ways to respond? Betsey Stevenson and Justin Wolfers guide you through the Fed Model - the mainstay of policy makers and financiers around the world. They examine the key relationships in the macroeconomy and the shocks that destabilise them.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.


See omnystudio.com/listener for privacy information.

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When a shock such as the Covid pandemic sends waves through the global economy, how do economists find ways to respond? Betsey Stevenson and Justin Wolfers guide you through the Fed Model - the mainstay of policy makers and financiers around the world. They examine the key relationships in the macroeconomy and the shocks that destabilise them.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.


See omnystudio.com/listener for privacy information.

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Published 2021-03-30

Inflation and the Phillips Curve

25 min
View
Why do we end up paying higher prices than we used to? And what are the main causes of this economy-wide inflation? Betsey Stevenson and Justin Wolfers talk us through how expectations influence inflation, and how greater demand, and problems with supply can push up prices.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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Why do we end up paying higher prices than we used to? And what are the main causes of this economy-wide inflation? Betsey Stevenson and Justin Wolfers talk us through how expectations influence inflation, and how greater demand, and problems with supply can push up prices.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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Published 2021-03-30

Inflation and the Phillips Curve

25 min Transcript
View

Why do we end up paying higher prices than we used to? And what are the main causes of this economy-wide inflation? Betsey Stevenson and Justin Wolfers talk us through how expectations influence inflation, and how greater demand, and problems with supply can push up prices.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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Why do we end up paying higher prices than we used to? And what are the main causes of this economy-wide inflation? Betsey Stevenson and Justin Wolfers talk us through how expectations influence inflation, and how greater demand, and problems with supply can push up prices.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

See omnystudio.com/listener for privacy information.

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Published 2021-03-23

Connecting Interest Rates & Output

23 min
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What is the most important price in the economy? Betsey Stevenson and Justin Wolfers say that it's the interest rate, and they dig into where it comes from, and how it drives all spending in the economy. These big ideas yield a framework called the IS-MP model which policymakers use to help devise fiscal and monetary policies to kick-start the economy.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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What is the most important price in the economy? Betsey Stevenson and Justin Wolfers say that it's the interest rate, and they dig into where it comes from, and how it drives all spending in the economy. These big ideas yield a framework called the IS-MP model which policymakers use to help devise fiscal and monetary policies to kick-start the economy.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.
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