We might watch the inflation rate to see how the cost of living is changing, and how our money changes value over time. But what happens when we can't trust money any more? Betsey Stevenson and Justin Wolfers explain inflation - what it is, the harm it can do, and how you can protect yourself against it.

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

We might watch the inflation rate to see how the cost of living is changing, and how our money changes value over time. But what happens when we can't trust money any more? Betsey Stevenson and Justin Wolfers explain inflation - what it is, the harm it can do, and how you can protect yourself against it.Co-Host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

From world events to everyday decisions, economics explains it all. Platypus Economics makes it clear, useful, and actually fun.

From world events to everyday decisions, economics explains it all. Platypus Economics makes it clear, useful, and actually fun.

Platypus Economics with Justin Wolfers

Inflation - When money loses its value

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/2dbab6cd-5d82-43a9-a8a8-b4340123cdf3/transcript

The Cast of Characters

Signaling Status

How Brands Compete

A Clever Redirection

Is the Met Undercharging?

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.

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 &mdash; 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&mdash;and how that affects where money gets spent, what gets built, and how prestige shapes the economy around you.

Are Met Gala Tickets Too Cheap? | Diving In

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/682c3247-be7b-4325-91a8-b446014336b7/transcript

Spirit Airlines and the Oil Price Shock

Debt Hits 100% of GDP -- Should You Worry?

Fiscal Space and the Risk of a Debt Spiral

How AI Is Driving the Economy Right Now

The Productivity Debate Around AI

Justin and Stacey Make a Bet

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.

What actually mattered in this week&rsquo;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&rsquo;s Business podcast. Together, they sort the signal from the noise: Spirit Airlines&rsquo; collapse, the U.S. debt hitting 100% of GDP, and whether AI is really driving growth&mdash;or just the headlines.
For viewers trying to determine what to worry about, what you can safely ignore, and where&rsquo;s there&rsquo;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&rsquo;s room to respond in a downturn, and AI could reshape careers faster than many families are prepared for.

Justin Wolfers Breaks Down the Week: Spirit, US Debt, and the AI Economy (with Stacey Vanek Smith)

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/ba7ca3fe-ae8a-47cc-8d68-b4450169c976/transcript

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.

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&rsquo;s ability to pay.
In a crisis, large deficits are often smart policy&mdash;stabilizing incomes, supporting jobs, and keeping an economic downturn from becoming a disaster. But today&rsquo;s U.S. deficit is different. America is currently running a very large deficit&mdash;about 5.8% of GDP&mdash;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.

Should We Actually Be Worried About the National Debt | Diving In

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/0c0b8f57-8509-4961-b678-b43d012af0c5/transcript

Inflation - When money loses its value

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