Week of October 9th, 2023

Experts say that big companies often observe or invest in innovations years before they become widely known. 

And Kai’s nightmare version of This or That.

The Bipartisan Infrastructure Law will fund seven hubs in 16 states. They’ll work on capturing CO2 emissions leftover from making hydrogen.

The classic way banks make money rests on three words: net interest income.

A $15-a-month subscription may be more attractive than dropping $500 on a console.

For the early adopters of rooftop solar panels, maintaining and repairing faulty panels is a costly challenge of its own.

Stocks close mixed; JP Morgan setting aside less cash to cover bad loans; consumer sentiment declines; import prices rise slightly.

It’s part of the White House’s plan to accelerate the domestic market for low-cost, clean hydrogen.

Citibank, Wells Fargo, JPMorgan Chase report higher quarterly profits; EU officially asks info from X about misinformation, hate speech moderation; Microsoft closes Activision Blizzard deal.

Crypto is one funding mechanisms that has allowed Hamas to evade U.S. sanctions. Also: the latest on crude oil prices and government bonds.

But it’s only one tool for evading sanctions. And it’s actually easier to track cryptocurrency movement than you might think.

Claudia Goldin, winner of the 2023 Nobel Prize in economics, discusses the impact of care responsibilities disproportionately falling on women.

Women in opposite-sex couples disproportionately step back from work to focus on care duties, while men prioritize careers. Claudia Goldin, 2023 Nobel laureate in economics, discusses.

From the BBC World Service: U.K. regulators have approved Microsoft’s revised offer to buy Call of Duty-maker Activision Blizzard. Plus: It’s the 10th anniversary of the Belt and Road Initiative.

Chinese automaker BYD is now the most popular EV in China and could soon beat Tesla as the No. 1 EV globally.

And a Nobel Prize for a trailblazing economist.

New York Times reporter Rob Copeland dug into why it’s become “so impossible” to cash a savings bonds these days.

The fight against inflation sometimes feels like we’re running in place. Are we on the right track? Plus, savings bonds and hire-a-mom.

The Permian Basin, which runs through West Texas and New Mexico, produces more oil than most countries.

While prices slipped last month, they’re still significantly higher than before the pandemic — and headed higher.

Waiting it out might just be part of the journey to cool inflation.

No need to miss mom while you’re away at college when you can rent one for $49 per month.

Stocks fall; rent and gasoline push up consumer prices; Social Security benefits to rise by less than last year; new jobless claims unchanged from prior week.

After pandemic lockdowns, many passengers want to feel a little spoiled — and are paying good money for that.

“There were red flags all over FTX,” said the New York Times’ David Yaffe-Bellany. “Even in the kind of renegade world of crypto, these sort of lessons from traditional finance still apply.”

Core consumer prices, excluding volatile categories, rose at their slowest pace in two years; Social Security benefits to increase 3.2% next year; Delta’s profits soar after increasing passenger capacity; Walgreens books $3.1 billion fiscal year loss.

Caroline Ellison, former head of trading firm Alameda Research, took to the stand in the fraud trial against Sam Bankman-Fried. Plus, we unpack September’s fresh inflation numbers.

Companies like Target, Walmart and Kohl’s held sales this week aimed at holiday shoppers, and Amazon just wrapped up its second Prime Day event of the year.

Temperatures are increasing in the Mediterranean 20% faster than the global average. That’s likely to have an impact on tourism.

Negotiations between studios and actors broke down Wednesday night. We hear the latest. Plus, tourist towns in the Mediterranean deal with sun and sand — and a changing climate.

From the BBC World Service: We hear from those whose lives have been turned upside down by conflict, including a doctor in Gaza and a tech business in Tel Aviv.

Brittany Allen, a trust and safety architect at Sift, says 2023 has become the year of account takeovers.

Plus, asteroids and Powerball tickets.

In January, buyers can apply the electric vehicle tax credit upfront at a dealer. Plus, making hidden apartment fees transparent.

The goal: Make buying an electric vehicle more attractive and simpler.

The maker of sensible sandals has been around for 250 years. So why did it go public now?

The laws are aimed at closing wage gaps within and between companies. But not all workplaces seem to want transparency.

The Department of the Interior says it’s adapting the law to better serve an evolving Native art economy. Traditional artists fear the update could open the door to mass-production and corporate abuse.

One area particularly hard hit by these extra charges: apartment rent. And the fees aren’t always disclosed before tenants sign the lease.

Stocks rise; core producer price inflation slows; FOMC participants predict flat unemployment rate; economic outlook remains uncertain

West Maui just reopened to tourists, but some residents say the move is too soon.

Birkenstock shares started trading on the New York Stock Exchange on Wednesday, pricing its IPO at $46 per share.

European Union says misinformation, pro-Hamas posts are illegal; wholesale prices rise by 0.5% in September; Exxon Mobil buys shale oil giant Pioneer for $60 billion; federal agencies announce new efforts to reduce consumer fees.

Retail pharmacists deal with understaffing and burnout as their job responsibilities expand beyond dispensing medication.

This morning, President Biden is set to announce new efforts to reduce fees consumers are charged on tickets, utility bills, hotel charges and more. Plus: Birkenstock’s stock makes its debut.

While some authors report an uptick in sales following the attention of book bans, bans can be detrimental for others.

The number of books banned in public schools surged by 33% last year. We hear from authors about the toll these bans take.

From the BBC World Service: We track German shoemaker Birkenstock’s journey from shabby shoe to shabby chic. Also: an Israeli crackdown on crypto donations to Hamas.

“We need to find ways to make our city as vibrant as possible,” says Garry Tan, while acknowledging inequities driven by the tech industry.

This season, we dive into the water crisis in the American West and the solutions that could help all of us survive.

We’re revisiting the Business Roundtable’s stakeholder pledge.

Fewer Americans want brands to speak out about current events. Plus, some small businesses are having trouble borrowing enough cash.

Optimism is growing that earnings could top expectations and provide a boost to the stock markets.

Only a quarter of small businesses say they’re getting the credit they need, according to the National Federation of Independent Business.

Stocks rise; businesses point to inflation, tight labor market; PepsiCo profits rise; wholesale inventories tick down.

A recent Bentley-Gallup survey says 41% of Americans think businesses should take a public stance on current events. That’s down from 48% just a year ago. What happened?

De-biasing artificial intelligence image generators pose questions around synthetic diversity, historical accuracy.

The Brooklyn-based startup is hoping to alter the future of fungi through a network of urban farms.

TikTok’s latest beverage trend is driving sales of flavored syrups and powders, but experts don’t expect it to last.

Be honest: How much value do you get out of being on social media? Today, we hear the role that FOMO plays in keeping us online.

The meetings are being held in Morocco, still struggling to recover from a severe earthquake just a month ago. The contrast with the U.S. could not be more stark. The IMF says the U.S. is the only major economy where output has returned to pre-pandemic levels.

IMF’s latest forecast is for the global economy to grew 2.9%; Pepsico boost earnings by raising prices, plans more hikes; Fed members say interest rates may be unchanged next month; Canadian auto workers at GM plants go on strike.

Some writers say creative Hollywood accounting practices mean that studios aren’t spreading the wealth.

So-called “prime age” workers, those 25 to 54, are working jobs at a higher rate than before the pandemic. But the picture gets more complex for older workers.

All that’s keeping some of us on social media is basically the fear of missing out. That raises larger questions about its value.

Older Americans have been rejoining the labor force at lower rates than other age groups. What gives? But first: Gas demand dips in the U.S.

From the BBC World Service: Yields on U.S. Treasuries tumbled on early trading in Asia, as the conflict in Israel drives market uncertainty. Plus, campaigners in Germany call for the end of a law jailing people for not paying public transport fares.

David Clinch of Media Growth Partners says misleading coverage of the Israel-Hamas conflict has become much noisier.

Renting? Buying? Which one’s the right choice?

Econ Extra Credit newsletter #169

The debate in Washington could get real.

Today, a look at real wages and spending power. Plus, why some businesses are closing after surviving the hardest part of the pandemic.

Harvard economist Claudia Goldin has illuminated issues such as the gender gap in pay, child and elder care, and the shortfall in women economists.

And that would mean your paycheck’s purchasing power would be getting a boost relative to inflation.

Stocks close up; roughly 30,000 auto workers now on strike; Harvard economist wins Nobel prize for economics; bank earnings due later this week.

And yet banks are loaning out more money than a year ago.

“After having my urban hikes for about a year, I realized that if I wanted my business to grow, that I would need to focus full time on it, and that was a scary leap,” said Lisa Peña, owner of Urban Hikes Kansas City.

The pandemic is still having a domino effect on small businesses. Here’s what happened to three of them.

If there aren’t people ready to build, install, and maintain the solar panels and electric cars that money is paying for, billions in federal funding dollars could go to waste.

Claudia Goldin’s work explores women’s experience of the labor market and what factors drive the gender gap.

Oil and natural gas prices rose amid uncertainty; Harvard labor historian Claudia Goldin wins Nobel economics prize; UAW strikes expand to Mack Trucks; world bankers meet to discuss economic resiliency from natural disasters.

Ireland has a budget surplus of $10.9 billion, which has been driven by soaring corporate tax revenue from tech and pharmaceutical companies.

According to PitchBook, there’s been nearly $1.2 billion invested in student loan management startups in the past year.

Investors have poured $1.2 billion into student loan management startups in the past year. We explore. But first: How are markets responding to Israel’s declaration of war?

Harvard’s Claudia Goldin was awarded the 2023 Nobel Prize in economics this morning. We discuss her contributions to our understanding of the gender pay gap.

From the BBC World Service: While neither Israel nor the Palestinian territories are major oil producers, why does conflict there have such a big impact on the price of oil?

Almost a year after FTX collapsed, its founder is on trial for fraud. Crypto’s value has mostly recovered; users hope its reputation will too.