Week of December 25th, 2017

How fast will the effects ripple through the economy?

Spandex, yoga pants, and Lycra aren’t just for Pilates classes anymore. They’re infiltrating the American wardrobe, and it’s plaguing the already beleaguered cotton industry. Plus, there are $2 billion worth of bitcoin transactions every day. Some governments, like South Korea, want to regulate speculation on the volatile cryptocurrency. And this holiday weekend, you may find yourself watching a football bowl game. It’s a tradition that dates back to the first Rose Bowl game in 1923, but why has the schedule ballooned to 40 bowl games a year?

The trendiness of synthetic fiber yoga pants is hurting American cotton farmers. But deep in the heart of North Carolina, cotton researchers are designing new fabrics to stay competitive.

A panel of experts delve into what comes next for workers, companies and human resources departments.

(Markets Edition) The GOP tax overhaul will decrease the corporate tax rate, which proponents of the bill have argued is much lower in other countries. But China recently announced foreign firms will not have to pay taxes on their earnings. We’ll examine whether this move will make U.S. companies want to stay in China. Afterwards, we’ll discuss the tax bill’s effects on Puerto Rico — now income from patents and other intellectual property on the island will be considered foreign income. Then, we’ll look at how one Dallas nonprofit is training people who are visually impaired to work with textiles.

Right?

Nonprofit Dallas Lighthouse for the Blind is helping to create local manufacturing jobs while providing work for the visually impaired.

(U.S. Edition) South Korea says it’s seized a Hong Kong-registered ship suspected of supplying oil to North Korea. On today’s show, we’ll recap the details of the incident. Afterwards, we’ll look at the state of the for-profit prison sector after President Trump rejected the Obama administration’s pledge to phase out their use by federal authorities. Plus: We end our week-long series on how different five American cities and territories have been coping with natural disasters that occurred this year. Isidro Negron Irizarry, the mayor of San German, Puerto Rico, told us whether he was satisfied with the pace of recovery and how different sectors of the economy have been doing.

San German's lights are mostly on, but the city's mayor says bureaucracy is slowing down progress.

(Global Edition) From the BBC World Service … A consortium led by Japan’s Softbank has finalized an agreement to buy 17 percent of the ride-hailing company Uber. What does it mean for the beleaguered firm’s future? Afterwards, the South African city of Cape Town is currently suffering from its worst drought in 100 years. The mayor of the city has warned that if residents, tourists and businesses don’t keep their water consumption down, the taps could run dry by the end of April. What are Cape Townians doing to try and save water — and how much does it cost?

This week we’re bringing you our favorite episodes of the year. As we get closer to sending humans to Mars, there’s been more talk about the technology and money it will take to colonize the planet. But science fiction writers have been pondering this for some time. Andy Weir is author of “The Martian,” which showed us how to survive on Mars. His new book, called “Artemis,” is about a colony on the moon. Marketplace Tech host Molly Wood talked with Weir about the real research that went into his science fiction.

Trillions of dollars in payments each year occur via mobile apps like Alipay in China, where the cashless society of the future is here. You can even pay for your fried chicken with facial recognition technology. We’re eschewing conventional finance rules in the U.S., too, or at least Chelsea Fagan is. She talks to Adrienne Hill about her new book, “The Financial Diet,” which offers personal finance advice a little differently than we’re used to. Plus, a look back at the year’s energy news, how one lab researching serious infectious diseases is expanding to keep up with the increasing rate of outbreaks, and a first-hand account of the invention of the digital camera.

A number of deadly disease research labs in the U.S. are considering expanding as strained capacity has led them to turn away work.

Author Chelsea Fagan wants to make 20-somethings money smart.

(Markets Edition) With homeowners in high-tax states and counties rushing to pre-pay their 2018 property taxes, we’ll take a look at which areas are actually encouraging this behavior. Afterwards, we’ll talk to Diane Swonk , CEO of DS Economics in Chicago, about consumer confidence levels and how retailers have been doing this holiday season, and then we’ll cap off today’s show by discussing news that the Bureau of Safety and Environmental Enforcement is proposing to roll back some of the safety rules it created.

Most of the people affected are high income earners.

(U.S. Edition) People have been rushing to pre-pay property taxes in some states before the GOP’s new tax bill goes into effect. But the IRS is saying not so fast. We’ll chat with Roberton Williams from the Tax Policy Center about what you actually need in order to prepay your taxes. Afterwards, we’ll talk with Kenneth Mapp, governor of the U.S. Virgin Islands, about how the territory has been doing in the aftermath of Hurricane Maria. He tells us which services are now available, and the work left to repair the power grid, schools and hospitals.

The territory's governor expects storm recovery and reconstruction to last four or five years.

(Global Edition) From the BBC World Service … South Korea makes up just 2 percent of the global economy – but South Koreans account for 20 percent of all bitcoin transactions. The country’s obsession with the crypto-currency has led government authorities to threaten that they might shut down bitcoin exchanges – leading to yet another price swing in an already volatile year. Then, nearly a decade on from the financial crisis, countries around the world are rebounding. But in some places the scars still run deep – nowhere more so than the Italian island of Sardinia, which has taken radical steps to insulate itself from the next crisis by returning to a 4,000 year old form of finance.

This week we’re bringing you our favorite episodes of the year. From data breaches to global cyberwarfare, it’s clear cybersecurity isn’t really working. And not even a newly minted MacArthur fellow can tell us why. What he can tell us: advice like creating long, complicated passwords might not make a big difference in the end. Marketplace Tech’s Molly Wood talks with Stefan Savage about what we can do to make cybersecurity better.  

But not the easiest time to be a taxpayer. Should you prepay for 2018 to avoid an impending deduction cap? Is it time to incorporate? How can you get the maximum benefit? We ask experts to help navigate these questions. And during his campaign, President Donald Trump made reviving the coal industry a signature goal. We go to coal country and talk to miners taking this promise to heart. Plus, man versus machine: Every medical office has one, but should fax machines be outlawed? And why is the McDonald’s McFlurry machine such a disappointment?

While some coal miners continue looking for work in the industry, others look to careers outside of coal for more stability.

The answer: a combination of work culture and well-intended policy gone awry.

Long lines form at tax offices as homeowners try to hack the tax reform bill.

They don't always work.

Susan Burton served six prison sentences in 17 years. Then she founded a nonprofit that helps formerly incarcerated women stop the cycle that has them returning to prison again and again.

(Markets Edition) Commodities are pushing up global markets today, and prices for metals like aluminum, copper and zinc are up. On today’s show, we’ll chat with Joe Deaux — a metals and mining report for Bloomberg — about the reason for this surge in metal prices. Afterwards, we’ll look at the struggles that cannabis advertisers still face even in markets where marijuana is legal.

Before there was Neflix's "A Christmas Prince," there was Hallmark.

Navigating between federal and states advertising laws can be tricky.

(U.S. Edition) Tax day may not be for another few months, but there are some homeowners who have decided to pre-pay their taxes now that the GOP overhaul has gone through. On today’s show, we’ll look at why those who own homes in states and counties with high property taxes are scrambling. Afterwards, we’ll discuss why retailers are actually kind of happy with customers who decide to return their online purchases in-store. Plus: We talk to the mayor of Naples, Florida, about how the region has been doing in the aftermath of Hurricane Harvey, and whether it’s worth it to have beachfront property.

With cleanup efforts after Hurricane Irma complete, the city anticipates that tourism season won't be impacted.

(Global Edition) From the BBC World Service … Throughout the year, we’ve been reporting on increasing efforts by both the U.S. and the international community to curb North Korea’s nuclear ambitions by punishing the country economically. Now, the U.S. has placed sanctions on two North Korean officials for their role in the country’s missile program.  Afterwards, former President Barack Obama sat down with Prince Harry for a rare interview. He issued a warning about the dangers of social media echo chambers. Then, the shift away from using cash in day-to-day transactions has been gathering pace in places from sub-Saharan Africa to Sweden — but nowhere is the transformation happening faster than in China. A trip to the eastern city of Hanzhou reveals just how quickly China’s cashless revolution is occurring.

This week we’re bringing you our favorite episodes of the year. Amazon, Facebook, Google and Apple are four of tech’s most powerful brands. But have they become too powerful? And is regulation the only way to stop them? Marketplace Tech host Molly Wood talks with Scott Galloway, a marketing professor at New York University’s Stern School of Business, about how these companies grew to global dominance and our love-hate relationship with them.

The bakery has an outside-the-box business model, but it works really well.

In 1979, a psychologist presented a potential solution to rising crime levels. It became a phenomenon.

Could there be a uranium boom on the horizon? If there is, it would help coal-heavy Wyoming.

This holiday season, many retailers saw 5 percent increases in sales from last year, and higher-end products did well. We speak with Ellen Davis of the National Retail Federation, who chalks it up to economic security, or maybe you’re just really nice. In today’s energy news, what the world’s fastest battery means for energy-storage technology and fossil-fueled power plants, and how uranium companies in the U.S. are getting ready for India and China’s hundreds of new nuclear reactors. Plus, we reflect on the busy holiday season with Ann Arbor’s Zingerman’s Bakehouse, whose new cookbook features recipes for chestnut flour baguettes and Detroit style pizza.

Predicting the new year in food, fashion, politics and Beyoncé.

When we feel secure with our finances, we're more likely to splurge on that hot new toy.

The city's chief recovery officer shares what the upcoming year might look like for Houston.

(Markets Edition) The global economy is shifting, with countries once considered “developing economies” replacing western ones as the strongest players in the marketplace. We’ll take a look at which countries are moving up in the rankings — and which ones are moving down. Afterwards, we’ll discuss how a pilot shortage in the U.S. means more lucrative opportunities for those who want to become one.

There's a wave of pilot retirements underway. And that means airlines have had to sweeten the pot to get new pilots on board.

(U.S. Edition) Now that Christmas is over, we’ll talk about spending habits this holiday season. Retail growth was strong, which analysts say was driven by low- and middle-income Americans. Afterwards, we’ll discuss what a wave in minimum wage hikes next year could mean for local economies. Plus, a conversation with Marvin Odum — chief recovery officer for Houston, Texas — on what recovery is looking like for the city.

Blame your employer.

(Global Edition) From the BBC World Service …Which country in the world is the most generous? Hint: it’s not the U.S. We take a look at global giving trends and find out which countries were more inclined to donate in 2017. Then, what do you do in a country where nearly half the population is below the age of 15,  but where the majority of young people don’t have access to “formal” jobs? That’s the situation plaguing the east African country of Mozambique. In the country’s capital, Maputo, Armadura Gym — which is run by young men who used to live on the street — is attempting an innovative and inspirational model that is looking to give some of the hardest-to-hire young people their first job.

This week we’re bringing you our favorite episodes of the year. There’s a group of venture capital firms that want to change the world for the better and make money. This is called impact investing. One of the firms working in this space is Impact America Fund, which invests in companies with diverse missions — for instance, a startup that helps African-American stylists sell their own hair extensions. Marketplace Tech host Molly Wood talks with Impact America Fund founder Kesha Cash about the sometimes complex collision of money and mission in venture capital.

They’re considered inefficient, under-utilized and useless, respectively, and all face uncertain futures. Incandescent light bulbs will no longer be available to purchase in California beginning in 2018; instead, Californians will buy compact florescent lights and LED bulbs, which have triple the energy efficiency. Alaska’s Arctic National Wildlife Refuge could lose 1.5 million acres to energy developers, due to a mandate in the new tax bill. And even though you can’t buy anything for a penny anymore, the coin may stay in circulation despite calls to get rid of it once and for all. Plus, on this Christmas Day, we revisit the story of Santa’s little surveillance helper, the elf on the shelf.

(Markets Edition) The restaurant industry has been struggling, and the year ahead looks bleak too, according to reports. To stay competitive, the restaurant chain Chili’s is slashing the number of items on its menu by 40 percent. We’ll talk about their new strategy, and explore some of the reasons restaurant traffic has been down. Afterwards, we’ll look at whether SpongeBob’s Broadway debut will be a success, and then check out a new lab at Georgia Tech that will allow users to control miniature robots remotely — a move that could open up the field to researchers and low-income students alike.

The Robotarium, a lab at Georgia Tech, allows users to control a swarm of miniature robots remotely, opening up the field to researchers and low-incomes students alike.

We dug into the costs and profits behind your delicious frothy drink.

(U.S. Edition) Markets are closed for the Christmas holiday, but we’ve still got some economic news for you. Most seniors will get a 2 percent increase in their monthly Social Security checks next year. But while this is the largest jump in a while, we’ll discuss why about 37 million won’t see the full amount. Plus: We talk to Chris Coursey, the mayor of Santa Rosa, California, about how his town has been coping in the aftermath of the Tubbs Fire, which struck Northern California in October and is one of the deadliest in the state’s history.

The city lost 5 percent of its housing stock, the mayor says, and was struggling with a shortage before the fire.

(Global Edition) From the BBC World Service … It’s a visit from economies of Christmas past: We take a tour through Charles Dickens’ last London home and chat with an economic historian who tells us how tough times influenced the author’s storytelling and character development in “A Christmas Carol.” Afterwards, gift cards and cash have become a bigger slice of the gift-giving pie in recent years – we’ll share techniques for teaching children how to handle their holiday money.

This week we’re bringing you our favorite episodes of the year. Americans spend 293 hours driving each year, according to AAA. That’s more than 12 days worth of data on where we go, what we listen to, and where we stop for lunch. Make no mistake, our cars are “watching” us. John Ellis, a former global technologist with Ford and author of a new book called “The Zero Dollar Car,” imagines that we’ll be able to trade in that data for cars one day. Marketplace Tech host Molly Wood talked with Ellis about the value of car data.