Week of December 18th, 2017

Just in time for the holidays.

Before Hurricane Maria hit, there was already an exodus underway from Puerto Rico to Florida, but the storm put it on fast forward. Since Maria’s devastation, nearly 200,000 people have fled the island for the state. We talk to Puerto Ricans in Florida about the difficulties they face staying in touch with home. Plus, if you’re still Christmas shopping, you’re pretty much limited to brick-and-mortar stores at this point. And this year, it may be tough to get the kind of in-store last-minute deals you used to. Anyone out there still looking for a Christmas tree? We catch up with a sidewalk Christmas tree seller in New York as his annual busy season winds down.

Big chains like Toys R Us are having a harder time competing with Amazon than mom-and-pop shops that do their own thing.

Families, now divided between the mainland and the island, start new endeavors and try to preserve old ties.

Now we associate it with environmentalism, but in the medieval period, it was seen as an "unnatural" shade.

Temporary stopgap funding for CHIP was passed, but children's access to health care is still at risk.

This week, the stories Weekend listeners engaged with the most. You yelled at them, you talked about them, you tweeted them and you “liked” them. We take a look back at a range of stories, including why we’ve fallen out of love with chain restaurants, America’s coal miners and stories of living on minimum wage across the country. We also sit down with a diverse group of experts to talk about the massive cultural changes happening around workplace sexual harassment.

The past sells. There’s no doubt about it. This week we’re diving into what that means for consumerism, as the holidays approach, and throughout the year, too. We take a look at how that plays out for independent toy stores, the vintage band T-shirt market and the film and TV industry. Plus, the real cost of fake snow and what determines a fad for the toy industry. Also, Congress’s quick moves this week — the new tax bill and funding for the Children’s Health Insurance Program.

What makes a toy a fad? Lots of demand and a lack of supply.

The holidays are a time of year where lots of things are the same as they always have been. The turkey. The songs. Maybe even the jokes people make. But as technology advances, the way we create those things changes. Marketplace Tech host Molly Wood thinks ahead to the holidays in the year 2030. She looks at the food — will we have smart ovens … and even smart toilets that calculate whether we’re making healthy choices? And using artificial intelligence, could we create holograms of deceased relatives to join us around the dinner table?  (And even if we could, should we?) This special episode of Marketplace Tech helps us walk the line between the ease that technology offers and the pleasures of holiday work … and encourages us to dream about the tech that’s yet to come. 

Gusto 54 restaurant group owner Janet Zuccarini and executive chef Evan Funke take the Marketplace Quiz.

A few days before Christmas, our reporter sets out to find a tree for the office.

It's the first major tax overhaul since 1986.

Band T-shirts from the '90s are hot right now. Really hot.

Two 31-year-olds discuss the changes to a tax code that hasn't seen major reform since they were born.

(Markets Edition) The value of bitcoin dipped 25 percent this morning — the equivalent of the Dow falling 6,000 points. Chris Vecchio, senior currency strategist at DailyFX, joined us to discuss whether this means the cryptoocurrency’s bubble has burst. Afterwards, we’ll look at how recovery efforts in Florida following Hurricane Irma have been uneven, and made already-vulnerable communities even more vulnerable. 

It's "going to increase our black-white wealth gap," says professor Dorothy Brown of Emory University.

Fewer people might take out home equity loans as a result.

(U.S. Edition) The government won’t have to shut down after all. It’s been funded for about three weeks, but there are some issues that aren’t addressed in the bill. We’ll take a look at what both Republicans and Democrats have decided to table until January, which include a potential deal to protect Dreamers. Afterwards, we’ll discuss the UN’s consideration of another round of sanctions against North Korea, and then chat with James Manyika, the lead of a new study from the McKinsey Global Institute, about the effects of automation on employment.

(Global Edition) From the BBC World Service … Aerospace giant Boeing is eyeing a tie up with the smaller, regional end of the plane-making market. We’ll explain why one Brazilian company may be just the right fit. Then, Catalan election results are in … but some Spaniards have their eye on something else entirely: The annual Christmas lottery. We’ll take you there, and explain why the tradition is such a highly anticipated one for the region’s residents. Afterwards, a look at how investors in Asia are driving up the price of digital currencies despite the risks. 

Apple announced this week that it intentionally slows down the speed of older phones in order to preserve their batteries. It’s something people had suspected for years, and it made us wonder: Why doesn’t Apple just make it easier to replace the battery in your phone? As part of a new segment called Quality Assurance, Marketplace Tech host Molly Wood talks about it with Ina Fried, chief technology correspondent at the digital news site Axios.

The tax debate in Congress may be over for now, but the ad war to win over the public is just beginning. Learning from Democrats’ struggle to shape the narrative for Obamacare, tax ads from both sides of the aisle are being rolled out in anticipation of next year’s midterm elections. Plus, President Donald Trump outlined a national security plan earlier this week labeling China and Russia “rival powers” to the U.S. One area where that rivalry is prominent is in the race for the world’s fastest computer. And what’s it like to be a part of CamperForce, a seasonal swarm of mostly retired folks who live on campsites paid for by Amazon and pack and ship holiday orders at its fulfillment center in Kentucky.

Low unemployment and a shortage of construction workers make for long waits to get storm repairs done.

The wrap-up measure allows Republicans controlling Washington to savor their tax-package win this week.

The retailer's CamperForce program recruits RV travelers for seasonal work.

Congress just passed the first major tax  bill since 1986 and did it in record time. It’s about to land on President Donald Trump’s desk, and it will take effect in a couple weeks. So now what? In this special episode, we talk to business owners, economists and families about how they see their futures under the new tax system, while Marketplace contributors answer listener questions along the way.

First we’re going to answer some of your questions about the stories we’ve brought you so far in this season. Then, because regulations have been in the news so much, we’re also wanted to give you some helpful context for what you’ve been hearing.

Stock prices soared at the open of trading.

The Republican tax bill moves away from using the tax code as social engineering, though some behaviors are still incentivized.

Congress holds hundreds of hearings a year. Most are webcast. So why go?

(Markets Edition) Not everyone is heading out early for the holidays. Congress still has some work to do before Christmas, like coming up with a short-term plan to keep the federal government going. And in that plan, lawmakers may include some short-term money for the Children’s Health Insurance Program. On today’s show, we’ll talk about the financial burdens families would face if the program doesn’t get enough funding. Afterwards, we’ll discuss why President Trump may wait until after New Year’s to sign the new tax overhaul. Plus: A look at how North Carolina is faring after drastically cutting corporate and income taxes back in 2013.

Two people doing the exact same job could be paying very different taxes by the end of the year.

North Carolina drastically cut corporate and income taxes in 2013, similar to today’s GOP tax plan in Congress. Corporate and income tax cuts created more jobs in North Carolina. But revenue shortfalls loom.

(U.S. Edition) The GOP tax bill is almost a done deal, with both the House and Senate passing it this week. While it’s received criticism over how much it’ll actually benefit American taxpayers, retail is one sector that could stand to benefit. We’ll examine how the overhaul could be advantageous for the Nordstroms and JCPenneys of the country. Afterwards, we’ll discuss why the U.S. is upholding a 300 percent tariff on aircraft maker Bombardier, and then look at how how low-income communities in Florida are still struggling in the aftermath of Hurricane Irma. 

(Global Edition) From the BBC World Service… Uber’s China rival, Didi raised more than $4 billion in its latest funding round – which may give the ride-hailing company the cash injection it needs to more aggressively expand in overseas markets. Then, months after Toys R Us filed for bankruptcy protection in the U.S., its U.K. company is teetering on the brink of collapse. We’ll explain how a rescue plan seal of approval from the state-backed Pension Protection Fund could save stores and thousands of jobs. Afterwards, a trip to Taiwan where tea makers there are working to revive the industry. 

Artificial intelligence pioneer Andrew Ng wants to make manufacturing smarter with his newest company.

Andrew Ng was the founder of the artificial intelligence research project Google Brain., and his latest company is called Landing.AI. The startup has partnered with the electronics manufacturing giant Foxconn, as well as other companies in Japan, Taiwan and mainland China to bring more AI to the factory floor. He spoke about the future of AI in manufacturing with Marketplace Tech host Molly Wood.  

In an effort to report on the sexual harassment blue-collar workers, specifically women of color, face in the workplace, Susan Chira of the New York Times wrote about what went on at Ford plants in Chicago, even after the company said it had dealt with the problem. And today a major legal action gets underway against oil giants Shell and Itay’s Eni. The two are accused of involvement in a corruption scandal in Nigeria. Plus, you probably share your Netflix passwords with a few people, right? Well, the practice may be on the way out as companies aim to crack down on password sharing.

Also, yes, it is "The Home Depot," not just "Home Depot."

The schools are sharing resources to train more people for jobs.

A business owner asks whether the tax plan is really going to help her or her company.

If the tax bill does not stimulate economic growth, then "all we've done is increase the national debt and the deficit. Growth is the key to this."

CEO Craig Menear says shopping starts in the digital world and finishes in the physical world.

WASHINGTON (AP) — Congressional Republicans delivered an epic overhaul of U.S. tax laws to President Donald Trump on Wednesday, bringing generous tax cuts for corporations and the wealthiest Americans while providing smaller cuts for middle- and low-income families. In a re-vote due to a last-minute hiccup, the House passed the massive $1.5 trillion tax package […]

(Markets Edition) The passage of the GOP tax bill will be the biggest overhaul of the American tax system in three decades. So how are economists evaluating the package as a whole? Our senior economics contributor Chris Farrell fills us in. Afterwards, we’ll chat with Susan Schmidt, senior portfolio manager at Westwood Holdings Group, about what the tax package will mean for capital expenditures and hiring. Plus: How Washington, D.C. is taking a sweeping step to lower the chances of inappropriate behavior in the workplace.   

(U.S. Edition) After a procedural snafu, House Republicans will have to vote on the $1.5 trillion tax bill again. But Senate Republicans are already celebrating after their vote. On today’s show, we’ll discuss what this new tax system will mean for big banks. Afterwards, we’ll look at how a business article from almost a quarter century ago can inform workplace culture. Kathleen Reardon, a USC professor, wrote a piece for the Harvard Business Review called “The Memo Every Woman Keeps in Her Desk,” which explores how women should address the issue of sexism at the office. 

(Global Edition) From the BBC World Service… The gig economy is booming, but how will it be regulated? A big decision from a top European court on whether Uber is considered a tech or taxi company could have wider implications for other sharing start-ups. Then, Brazil’s finance minister will try to convince credit ratings firms not to downgrade his country’s debt rating. We’ll talk to an economist in Sao Paulo about what that means for the country’s economic future. Afterwards, how Swedish vacation time is getting shorter and shorter thanks to technological intervention. 

The decision reflects a larger dilemma about how governments should treat companies that operate online.

One professor has developed six categories of offensive behavior and misconduct.

The agency is being led by a venture capitalist who is taking some cues from the tech industry.

Under its new commissioner, Scott Gottlieb, the Food and Drug Administration is collaborating more with companies that make consumer tech that could also become health tech.  Think of an Apple Watch that could also tell if your heart rate is dangerously high. So the FDA is working directly with companies like Apple, Fitbit and Samsung to streamline the process for approving health and medical software. Gottlieb is a physician, but he was also a venture capitalist before he took over the FDA in May. He spoke with Marketplace Tech host Molly Wood about his plans for the agency.

The machines are vital for strategic industries and economic growth. Businesses rely on them, too.

The president leverages his Twitter feed to promote his economic agenda and narrative.

Make Me Smart listeners respond to Madeleine L'Engle's "A Wrinkle in Time."

He and his wife are comfortable but chipping away at their student debt.

As rents rise in the city, some people seek out cheaper alternatives like RVs.

The bill now goes to the Senate for an expected vote Tuesday evening.

“Third-rail programs,” or those you usually just don’t touch — benefits for low- and middle-income Americans like Medicare, disability benefits and Social Security — will be on the chopping block in 2018. With the tax plan all but passed, Congress will be faced with the question: cut programs or raise more money to pay for them? Plus, we take closer look at the president’s oeuvre of tweets and what they’ve led the world to believe about the American economy. And the world’s most polluting nation, China, is starting a carbon market to lower its emissions. It will be the largest program in the world to do so, but will it make a dent in carbon emissions for other nations?

The tax advantages of home ownership would likely be available to wealthier taxpayers, and high tax regions would take the biggest hit.

Bill and Melinda Gates Foundation CEO Sue Desmond-Hellmann on how to best spend $40 billion.

(Markets Edition) House Republicans have released an $81 billion disaster relief package aimed at helping regions that need highway repairs and flood prevention. But on today’s show, we’ll look at one potential caveat here: this package might be attached to a spending bill that Democrats would have to agree to in order to avoid a government shutdown. Afterwards, we’ll talk to economist David Kelly, chief global strategist at JP Morgan Funds, about why he thinks BOTH the right and left are wrong about some aspects of the tax overhaul and the U.S. economy. Then, we’ll discuss the origins and appeal of the Spanish Christmas Lottery, which has a payout of more than 2 billion euros.

Retailers are shrinking stores and making them more interactive to make them more attractive to customers.

(U.S. Edition) As Congress gears up to pass the GOP tax overhaul this week, we’ll analyze some of the potential drawbacks. Key components of the bill could end up leading to decreased home ownership among younger households and reduce the incentive for companies to subsidize their employees’ commuting expenses. Plus: We look at how recess — yes, that 10-20 minute or so break kids have at school — might help children develop the skills it takes to succeed on the job market. 

The Spanish Christmas Lottery, one of the biggest draws in the world, has a payout of over 2 billion euros and a participation rate of 75 percent.

Giving students short breaks each day can do a lot.

Will late holographic family members join us around the dinner table?

(Global Edition) From the BBC World Service …The rags-to-riches South African company Steinhoff, which owns American chain Mattress Firm, has seen its share price plunge 80 percent after revelations of accounting irregularities. Today, lenders might decide whether to save the company or force it to sell all of its assets. Then, one of London’s biggest boardroom battles in years reaches a climax today as shareholders vote on the future  of London Stock Exchange chairman Donald Brydon. Afterwards, we’ll take you to Catalonia where political parties are winding down campaigns ahead of an all-important election this week.  

Social Capital is a venture capital fund founded by Chamath Palihapitiya, a former Facebook executive and professional poker player. He believes more venture capitalists need to use their own money when investing, and not rely on institutional partners such as universities and pension funds. He talks with Marketplace Tech host Molly Wood about what should change in startup investing.

Chamath Palihapitiya believes venture capitalists need to play with their own money.

Social Capital founder and CEO Chamath Palihapitiya on why he wants to change how tech companies go public.

As real estate in major cities continues to go up in price, companies are increasingly moving offices to the suburbs. In order to attract young workers from the cities, some companies offer private bus services for employees making the reverse commute.

But instead of physics, we’re talking about tax policy. With the tax bill nearer to reality, states are starting to grapple with the fact that under the new policy, taxpayers won’t be able to deduct as much from their state and local taxes. That means lawmakers are looking to create loopholes by converting non-deductible taxes into deductible taxes. And those are just short-term fixes — we also discuss what the long-term debate might look like. Plus, the rise of “reverse commuting” in American cities, and reports from Puerto Rico, where companies like Bacardi are still recovering from Hurricane Maria, and Athens, where we look at the lingering effects of the European debt crisis.

Starting in January 2018, New Yorkers will be able to take paid leave when they give birth, adopt a new baby, or need to take care of a sick family member.

The tax bill is likely to pass Congress this week, but the debate over taxes will rage on.

"It's basically been a lot of effort to try and stay on my feet."

(Markets Edition) Shortly into the trading day, the Dow, Nasdaq and S&P 500 were all up. We’ll talk to economist Julia Coronado, founder of Macropolicy Perspectives, about whether we can attribute some of this to the likely passage of the GOP’s tax bill. Afterwards, we’ll look at how in recent weeks, officials in Beijing, China have been evicting tens of thousands of migrant workers from “slums” — buildings deemed to be dangerous or not licensed for habitation.

Let's do the numbers.

If so, you might be one of the few.