Platypus Economics with Justin Wolfers
From world events to everyday decisions, economics explains it all. Platypus Economics makes it clear, useful, and actually fun.
Episodes
The Hidden Force Dragging Down Consumer Sentiment | Diving In
Americans feel almost exactly as gloomy today as they did in 1980 — when inflation was near 14% and unemployment was close to 8%. Today those numbers are a fraction of that, yet consumer sentiment hit an all-time low. Justin Wolfers treats this like a detective case: the standard economic statistics predict sentiment should sit around 82, but the actual reading is 52 — a 30-point gap begging for a
The Nobel-Winning Insight That Made Spending Hard to Predict | Diving In
Why Robert Hall and Michael Woodford won the 2026 Nobel Prize in Economics — explained simply. This morning Robert Hall and Michael Woodford won the 2026 Nobel Prize in Economics, and Justin Wolfers couldn't wait to explain what they figured out — and why it touches how much you spend every month. By the end of the episode you'll understand why your next big purchase hinges more on what you think
The G7’s 100 Million Barrel Announcement Changes Nothing | The Professor Is In
Justin Wolfers takes apart a headline that circled the globe: the G7 announcing it will release 100 million barrels of oil it had already promised to release back in March 2026. On this episode of Diving In, producer Augusta Chapman brings him your questions, office-hours style, and Justin explains why a press release dressed up as a deal does nothing to lower the price you pay at the pump.Subscri
Trump's Red Diesel Order, Explained | Diving In
Justin Wolfers digs into President Trump's new executive order letting truckers fill up with red diesel — the tax-free fuel normally reserved for farmers, construction crews, and miners — and deferring the 24.4-cent federal highway tax until after the election. The White House says it'll save a trucker about $60 a fill-up. But diesel hit a record $6.52 a gallon a few weeks ago, and this order does
This Oil Deal Sounds Huge. Until You Do the Math | Diving In
Trump calls it a massive win: 100 million barrels of emergency oil and fuel released to bring diesel prices down. In this episode of Diving In, Justin Wolfers reads the G7 communique line by line and finds something much smaller — an agreement to finally deliver on a release already promised back in March, in exchange for the US dropping a diesel export ban it should never have threatened.Subscrib
Why the Jobs Report Keeps Changing | The Professor Is In
The September jobs report landed weak, and the numbers for July and August got quietly revised downward. Economist Justin Wolfers takes your questions on what that actually means — and why a statistical agency that corrects itself is more trustworthy, not less.Subscribe:on YouTube 👉 https://youtube.com/platypuseconomicson Substack 👉 https://newsletter.platypuseconomics.comthe Podcast 👉 https://pla
Trump Wants Cheap Money. Why Are Rates Going Up Anyway?
What happens when a president wants lower interest rates—but the economy, inflation, and bond markets are all pushing the other way?In this episode of What Next with Mary Harris from Slate, Justin Wolfers explains why the latest fight over interest rates is about much more than one Federal Reserve meeting.Subscribe:on YouTube 👉 https://youtube.com/platypuseconomicson Substack 👉 https://newsletter.
Why Workers Are Getting Less of What the Economy Produces | Off The Clock
Justin Wolfers and Bloomberg columnist Stacey Vanek Smith slow down to unpack the one number that quietly shapes your paycheck: labor's share of income. For most of modern history, workers took home about two-thirds of the pie. Today it's down to 53% — and the rest goes to the people who own the companies, not the ones who show up to work. Then the stakes get bigger.Justin argues that past $100 mi
What September's Employment Numbers Really Say | Diving In
The September jobs report landed with a thud: just 29,000 jobs created, well short of the 80,000–90,000 forecasters expected, with July and August both revised down and unemployment ticking up to 4.2%. In this episode of Diving In, Justin Wolfers walks you through why those numbers are disappointing by historical standards — yet why unemployment can still stay low and stable at the same time.Then
Are Your Financial Mistakes Making Someone Else Rich? | The Professor Is In
Every dollar you spend having your money actively managed by someone in a sports car is paying for that sports car. In this Professor Is In episode, Justin Wolfers takes questions after his keynote at Stanford's Initiative for Financial Decision Making and lands on the core ideas he thinks every personal finance course must teach.Subscribe:on YouTube 👉 https://youtube.com/platypuseconomicson Subst
Why Good Money Advice Fails to Land | Diving In
Most of us wash our hands even though we've never seen a germ. But when it comes to personal finance, hardly anyone "washes their hands" — and the mistakes are expensive. Justin Wolfers, back from a Stanford keynote to finance educators, argues that ignoring sound financial advice may cost people somewhere between 2% and 10% of their lifetime consumption — putting it in the same neighborhood as th
What Airbags Teach Us About Artificial Intelligence | The Professor Is In
AI safety fears are in the news, so Justin Wolfers sits down with producer Augusta to work through the economics — and the ethics — of building guardrails into AI. Using airbags as the analogy, he shows why a "safe" AI, like a car with airbags, works a little less well than one built with no precautions — and why that tradeoff is worth taking when the downside isn't a fender bender but the electri
How Much Should We Spend to Prevent an AI Catastrophe? | Diving In
The people building the most powerful AI see faster science, better medicines, and explosive economic growth. Others see catastrophe. Justin Wolfers steps into that argument with the one tool that can actually weigh the two: economics.Subscribe:on YouTube 👉 https://youtube.com/platypuseconomicson Substack 👉 https://newsletter.platypuseconomics.comthe Podcast 👉 https://platypuseconomics.com/podcast
How Accountability Shapes National Borrowing Rates | The Professor Is In
What's the relationship between journalism and borrowing costs?When a local paper shuts down, something surprising happens: the town starts paying higher interest on its debt. Justin Wolfers sits down with producer Augusta to answer viewer questions about why press freedom isn't just a civics-class ideal — it's an economic force that touches your mortgage rate, your government's bond yields, and t
Why Trump's Diesel Export Ban Could Raise Gas Prices | Diving In
The White House is floating a temporary ban on U.S. diesel exports, and the pitch sounds simple: keep the diesel here, and prices fall for farmers and truckers.In this episode of Diving In, Justin Wolfers walks through why that story falls apart the moment you follow the economics past its first sentence.Subscribe:on YouTube 👉 https://youtube.com/platypuseconomicson Substack 👉 https://newsletter.p
What Would It Take to Eliminate Poverty? | The Professor Is In
In this episode of the Professor Is In, Justin Wolfers answers your questions about poverty in America. Justin walks through the official poverty measure ($32,649 for two adults and two kids), the newer supplemental measure ($41,701 for a renting family that adjusts for local costs and now counts internet and phone as essentials), and why the two disagree about how many people are poor.Justin also
The Economic Cost of Trump's War on The Press | Diving In
When the White House pulled the press badges of CNN, MS Now, and Politico, most of us reached for the First Amendment. Justin Wolfers asks a different question: what does a free press actually DO for us? What happens to your wallet when a president gets leverage over the reporters?Subscribe:on YouTube 👉 https://youtube.com/platypuseconomicson Substack 👉 https://newsletter.platypuseconomics.comthe
What If We Just Gave Poor People Money?
Official poverty fell to 10.2% — so why does the better measure show almost no change?The new poverty numbers are out, and the headline looks like good news: official poverty dropped to 10.2%, a third straight annual decline. But Justin Wolfers explains why that single statistic hides more than it reveals — and why the broader "supplemental" measure tells a very different story.Subscribe:on YouTub
The Fed Raised Rates. Here's What It's Fighting. | Off The Clock
The Fed just raised rates unanimously — and Justin Wolfers explains why that 12-0 vote matters more than the rate itself. Joined by Bloomberg Businessweek's Stacey Vanek-Smith on Off The Clock, Justin unpacks what "Silent Kevin" Warsh actually signaled, why the president's dream of 1% interest rates would light a fire under inflation, and why even a government that repays its debts can end up unab
The Hawk Behind The Hike | The Professor Is In
The Fed just raised its target rate by a quarter of a percentage point, the first hike since 2023 — but Justin Wolfers argues the number on the front page isn't the real story. In this episode of The Professor Is In, producer Augusta Chapman brings you audience questions, and Justin explains why the bigger signal was new Fed chair Kevin Warsh convincing markets he's a genuine inflation hawk.Subscr
Understanding The Fed’s Rate Hike Decision | Diving In
Understanding The Fed’s Rate Hike Decision | Diving InThe Federal Reserve raised interest rates on Wednesday by a quarter of a percentage point. It’s the first time the Central Bank upped rates since July, 2023.All 12 members of the Federal Open Market Committee, including Fed Chair Kevin Warsh, voted in favor of a rate hike. Justin Wolfers, professor of economics and founder of Platypus Economics
The Canadian Boycott is About More than Economics | The Professor Is In
Why an "infinity percent" tariff on Canada may hurt Americans more than Canadians.The U.S.–Canada trade war just got weirder, and Justin Wolfers walks through what actually changed. After Canada answered Washington's tariffs with a measured, dollar-for-dollar response, the White House escalated again. They proposed an outright import ban on things like Canadian alcohol, dairy, and auto products. H
The Hidden Link Between Government Debt and Everyday Credit | Off the Clock
Why does the bond market matter more than the stock market for your wallet? Justin Wolfers and Bloomberg Businessweek columnist Stacey Vanek Smith take on August's inflation report, the rising odds the Fed hikes rates, and the one market that quietly sets the price of your car loan, your student loan, and your mortgage.Subscribe — it's the one interest rate that never rockets up on you:on YouTube
What August’s Inflation Report Means for You
Inflation is stuck at 3.4% and prices are outrunning your paycheck. Here's what August really showed.The August inflation report just landed, and Justin Wolfers walks you through what it means for your wallet. Plus the all-important burrito price index.Subscribe — it's the one price that isn't rocketing up this month:on YouTube 👉 https://youtube.com/platypuseconomicson Substack 👉 https://newslette
Vote Republican, Get $5,000? | Diving In
Is the promise real, and who actually pays for it?At a midterm campaign rally Wednesday night, President Trump promised every adult American citizen a $5,000 check, but only if Republicans win both the House and the Senate. He's calling them "Trump dividends."Justin Wolfers is here with a reality check, on Diving In.Subscribe — I'll owe you $5,000, and I promise about as much as the President does
How Governments Manipulate Statistics Without Lying | Professor Is In
Can you still trust the jobs numbers after Commerce dropped its ban on political interference?In August the Commerce Department quietly crossed out the rules that shielded official statistics from political meddling — meaning reports can now be delayed, buried, reworded, or stripped of their uncertainty. So can you still trust the numbers that shape your paycheck, your mortgage rate, and the price
Hidden Ways the Government Manipulates Data | Diving In
How the government can rig official statistics without ever faking a single number. A few sentences vanished from a Commerce Department directive — and almost no one noticed. In this episode of Diving In, Justin Wolfers walks you through what changed on August 19, when the department quietly scrapped its ban on political interference in the science behind America's official statistics. No fabricat
The U.S. Canada Trade War Casts a Much Longer Shadow | Diving In
Canada just retaliated against President Trump's latest tariffs, and everyone wants to know how big the hit will be. Economist Justin Wolfers walks you through the whole U.S. Canada trade war, and lands on a surprising answer.By the end, you'll understand why this trade war is small on paper, larger in reality, and what Justin would tell both Trump and Carney to do about it.Subscribe — it's the on
Why Tariffs Can't Rebuild American Manufacturing | The Professor Is In
Why did Trump's tariffs fail? It's a competence problem, not just a trade-theory problem.Economist Justin Wolfers answers your questions about why the Trump administration's tariffs earned straight F's on their own stated goals. His argument: the problem isn't only the economics of tariffs — it's chaotic, incoherent implementation. When a policy exists on Monday, is gone by Tuesday, and gets throw
The Jobs Report Beat Expectations. Will The Fed Care?
The economy added 162,000 jobs in August — far above the 50,000 to 60,000 Wall Street expected — and Justin Wolfers is smiling, because this is genuinely good news. Unemployment sits at a low 4.1%, and we've now had six straight months of job growth, which is what a normal, healthy labor market looks like.But Justin walks you through the asterisks that matter to your paycheck. Nominal wage growth
The Bond Sell-Off Isn’t the Scary Part | Diving In
Everyone's talking about the bond market, and Justin Wolfers is here to explain what's actually going on — without the panic. In this episode of Diving In, he strips the fancy words away: the bond market is just supply and demand for loans, and right now a lot of people want to borrow. When demand for loans goes up, the price of loans — the interest rate — goes up too.Justin walks through the thre
Who Actually Paid for the Trade War? | Diving In
Trump’s tariffs were supposed to do five things. So how did they actually score? Justin Wolfers grades the tariff agenda against the administration’s own goals. Did tariffs create leverage? Did the trade deficit fall? Did factories come home? Did America get safer? Did the revenue deliver? The answers: America’s trading partners already charged us around 3% on average before any of this started, s
Can You Sanction a Country That's Already Cut Off? | The Professor Is In
In this episode of the Professor Is In, Justin answers your questions about "Operation Economic Outcast," the White House plan to squeeze Iran by threatening its trading partners with sanctions and loss of dollar access. The catch: the US already has roughly 6,000 sanctions on Iran and a naval blockade, so most of the country is severed already. New pressure only bites if third countries actually
The Fed Chair Won't Talk (But Markets Listened Anyway) | Off the Clock
On this Fed-heavy episode of Off the Clock, Justin Wolfers and Bloomberg's Stacey Vanek Smith dig into new Fed Chair Kevin Warsh's argument for a quieter, less transparent central bank — and why it doesn't hold up. Warsh defended saying less, insisting markets should take their cues from the economy instead of the Fed. Then his speech pushed expected interest rates sharply higher anyway.Justin's p
Why the BLS Guardrails Held — and the Census Bureau's Failed | The Professor Is In
In this episode of the Professor Is In, Justin answers your questions from his earlier episode debunking the Census Bureau’s claim that 24,000 noncitizens voted in the 2020 election.He starts by addressing the elephant in the room: even if the faulty claim were true – it couldn’t have swung anything. Biden won the popular vote by seven million. As for the decisive states: he won Arizona by 10,000
How To Fake a Voting Scandal | Diving In
The Census Bureau just published a report claiming 24,000 noncitizens illegally voted in the 2020 election. In this episode of Diving In, Justin Wolfers takes the report apart and shows why it reads less like statistics and more like propaganda. The document has no author, no report number, and no named reviewers — a flashing red light that career statisticians have refused to sign their nam
America Is Reusing Cuba’s Sanctions Strategy on Iran | Diving In
Do sanctions on Iran actually work? Sixty years of the Cuba embargo say probably not.
Treasury Secretary Scott Bessent just announced what he's calling an "economic D-Day" against Iran — a threat aimed not just at Tehran but at every foreign firm, bank, trader, and shipper that does business with it: choose Iran, or choose access to the U.S. dollar. Justin Wolfers walks you through what was
The Economics of Feeling Ripped Off | The Professor Is In
Politicians keep promising to bring prices down. In this episode of The Professor Is In, Justin Wolfers explains why that's a terrible idea — and why it's not the same thing as slowing inflation. He walks through what actually happens if you force the price level down: wages have to fall too, stores go unprofitable, and the only reliable way to make it happen is to engineer a recession &mdas
What the Heck is Going On In the Bond Market? | Diving In
Bond yields have jumped from a little over 1% just after COVID to more than 5%, and Justin Wolfers walks you through why that matters at your kitchen table. The short version: the U.S. government is borrowing an enormous amount of money, lining up at the bank ahead of you and me, and that pushes the price of borrowing — the interest rate — up for everyone.
Justin sorts the story into t
What the $20 Burrito Debate Gets Wrong About Affordability | Diving In
A college student said a burrito shouldn't cost $20, and suddenly everyone seemed to be arguing about affordability. In this latest installment of Diving In, Justin Wolfers uses that burrito as a metaphor to untangle a real puzzle: 95% of Americans think there's an affordability crisis, two-thirds say groceries are unaffordable — yet by early 2026, every measure of real pay is above where it
How Lab-Grown Diamonds Broke the Market | Off the Clock
Justin Wolfers and Bloomberg's Stacey Vanek Smith pick through a week of confusing economic news on the latest episode of Off the Clock.
First up, inflation. Inflation came in at 3.4% — not great, not terrible — but here's the part that stings: prices are still rising faster than wages and the average American paycheck buys less than it did a year ago. They also dig into the July
If AI Does Your Job, Who Gets Paid? | The Professor Is In
Justin Wolfers sits down for The Professor Is In to answer your follow-up questions about labor's declining share of income — the reason a soaring market can coexist with wages that feel stuck. He explains that this isn't just an American story: across industrialized countries, workers have been getting a smaller cut of the pie for decades, which points less to any one country's politics and
No, the K-shaped Economy Isn't Over | Diving In
The stock market keeps breaking records, but your paycheck doesn't feel like it. In this episode of Diving In, Justin Wolfers explains that disconnect with one number: labor's share of income has fallen to 54.4 cents on the dollar, the lowest share on record. And it’s significantly less than the two-thirds that was common for most of the last century.
Justin fires up the actual data to stres
Inflation Is Still High. Just As We Thought. | Diving In
The newest inflation report is out, and Justin Wolfers walks you through what actually matters. Annual inflation is running at 3.4% — well above what the Fed wants, and high enough to explain why the checkout line still feels uncomfortable. Core inflation, which strips out food and energy to predict where prices are headed, sits at a better — but still high — 2.5%. July's monthly
AI's Biggest Problem May Be Its Pace | The Professor Is In
In this bonus-sized episode of The Professor Is In, Justin Wolfers uses a strange, wonderful case study — the collapse of artisanal bootmaking in 1850s England — to think through what AI will do to your work, your wages, and maybe even where you live. Economic historian Hillary Vipond found that even though a new technology let each worker produce four times as much, total bootmaking j
The July Jobs Report Should Worry You | Diving In
The July jobs report just dropped, and it's time to worry. Markets expected around 80,000 new jobs — instead, the economy lost 23,000, and revisions to the prior two months erased another 100,000 we thought we had. In this video, Justin Wolfers break down what's really going on beneath the headline: the drop in government jobs might be statistical noise, essentially all private-sector job gr
How Early Access to Trump’s Truths Will Drain Ordinary Investors | Diving In
Justin unpacks the new $100,000-a-year Truth Social API—a special "pipe" that will allow the president's posts to hit Wall Street computers a second or so before the rest of us see them. In this episode of Diving In, he explains why one second is an eternity for a high-frequency trading computer: it can read a post announcing a strike on Iran, figure out what it means for markets, and sell b
What Victorian Bootmakers Can Teach Us About The Future of Work | Diving In
When the CEO of Anthropic warns AI could wipe out half of all entry-level white-collar jobs, it's easy to picture the destruction. Justin Wolfers wants you to picture the other half of the story. In this episode of Diving In, he uses a carefully researched study of Victorian bootmaking — where a labor-saving sewing machine let each worker make four times as many boots — to show how a t
Economics Is Not a Subject — It's a Toolkit | Economics Matters
This is a conversation between Justin and Larry Kotlikoff, fellow economist and host of the Economics Matters podcast. And it was a fun one, in which Larry encouraged Justin to look both backwards and forwards. Backward at some of the work he's most proud of, and forward at the growing challenges we face as an economy and a nation.
In the process, Justin and Larry philosophized over the role of ec
Tariffs, Take Three: The Dumbest Round Yet | Off the Clock
Justin and Stacey are back for Off the Clock — helping you figure out what economic news to actually worry about, what you can safely ignore, and where to find some silver linings.
This week was a big one for economic news and data. Justin starts by explaining to Stacey why this latest round of tariffs is the dumbest one yet. And Stacey brings in some reporting to highlight how small busines
How SNAP's New Rules Make Eligible Families Go Hungry | The Professor Is In
Recent changes to SNAP quietly cut food assistance from 4 million Americans — 1.5 million of them children (plus elderly, disabled, and other eligible recipients who were never the intended target). In this follow-up to his earlier video Diving In to SNAP cuts, Justin Wolfers answers follow-up questions and explains how the policy actually plays out for real people.
Justin walks through why
The Lawyer’s Theory of Trade | Diving In
Donald Trump's trade representative Jamison Greer thinks about trade like a litigator: clients, injuries, bad actors, and remedies. Justin Wolfers takes Greer's own words from his recent interview with The Daily and shows why that worldview rests on muddled thinking about what trade actually is — and why it ends up costing you.
In this Diving In episode, Justin lays out the tells and discuss
Should Canada answer Trump's tariffs? | The Professor Is In
In this episode of The Professor Is In, Justin Wolfers digs into the latest tariffs on Canada, answering subscriber questions and responding to comments from his earlier Diving In He addresses the suspicious timing of these new tariffs, break down the confusing dairy tariff-rate quota, and argues that total US-Canada dairy trade — about a billion dollars against hundreds of billions in overa
Six Dollars a Day Is Disappearing For Millions | Diving In
Last summer, Congress passed one of the biggest cuts to food assistance in a generation. SNAP — the program a lot of folks still call food stamps — pays about $188 a month, roughly $6 a day for groceries like milk, eggs, rice, and peanut butter. It's not enough to live on, but it's the thing that lets a parent say yes to fruit this week instead of no.
In this Diving In episode, Justin
Why Trump’s New Tariff Is Bigger Than Canada | Diving In
Trump's new 50% tariffs on Canada bypass USMCA — here's what it really means for you.
President Trump just hit a limited set of Canadian goods with 50% tariffs, and he did it by dusting off Section 338 of the Tariff Act of 1930 — a law last used when Herbert Hoover was in the building. Justin Wolfers walks you through what actually happened, why it's stranger than it sounds, and why th
Justin Answers Your Questions on Trump Accounts | The Professor Is In
In this latest episode of The Professor Is In, Justin answers listener questions and responds to comments from his latest episode dispelling the hype around Trump Accounts. Justin argues that Trump accounts are really two policies bundled together. There’s the attention-grabbing $1,000 payment for newborns, which has a genuine “kernel of genius” if the goal is to introduce famili
What Reese's Cups and Canadian Wildfires Can Teach Us About Economics | Off the Clock
In this episode of Off the Clock, Justin and Stacey break down some of the week’s biggest economic news — letting you know what to actually worry about, what you can safely ignore, and where to find some silver linings.
This week they discuss the collapse of the Iran ceasefire and what it might mean for the economy. They also break down the latest inflation numbers, why the relief is p
The Truth About Trump Accounts (Read the Fine Print) | Diving In
In this episode of Diving In, Justin Wolfers explains why the new Trump Accounts are actually two very different policies jammed into one. First, there’s the headline-grabbing piece: a one-time $1,000 government deposit for babies born in a narrow window between 2025 and 2028, alongside a permanent tax-advantaged savings account that mainly helps families who can afford to keep contributing.
Good News on Inflation — With a Very Big Asterisk
The latest CPI report came in better than expected: headline inflation slowed to 3.5% and experienced its largest one-month decline since April 2020. But better-than-expected does not mean problem solved. Falling energy prices were largely responsible for this positive news, and a renewed war with Iran could quickly reverse that progress. As oil prices rise once more, those costs can spread quickl
Could Price Comparison Apps Be Making Gas MORE Expensive? | The Professor Is In
Justin is back for another episode of The Professor Is In, answering questions, responding to comments, and clarifying his previous takes. The gas price story is not just about your local station—it runs through refining, production constraints, inventories, retail competition, and consumer behavior. When oil prices rise, gas prices can adjust within days, but when they fall, the trip back d
The Hidden Pattern in Gas Prices (And How to Beat It) | Diving In
Oil prices spike and pump signs change almost instantly. But when crude falls, the savings trickle in slowly — if they arrive at all. This pattern, known as "rockets and feathers," is real and measurable across decades of data. But does it prove oil companies are gouging you, or is something else entirely responsible?
In this episode, Justin Wolfers breaks down what the data actually reveal
Feel Your Feelings: Jobs, Trump Accounts, and America's Big Birthday | Off the Clock
Justin is back with Stacey Vanek Smith for another episode of Off the Clock just in time for America’s 250th birthday. The two of us dive into the latest economic news, and sift through the noise so you don’t have to.
This week’s conversation covers the latest jobs report (disappointing but far from a disaster), the possible causes of the ongoing disconnect between economic stati
June Jobs Report: Not Sinking, But Not Surging. Just Treading Water. | Diving In
Is a “bad” jobs number is closer to normal than you think?
In this 10-minute breakdown, Justin Wolfers explains how to read the latest jobs report without overreacting to a single headline. June payroll growth came in at 57,000, which looks weak by the standards of a few years ago. But those older standards may no longer fit an economy with slower population growth and lower immigratio
Navigating Inflation: Smart Strategies for Better Choices | Diving In
Inflation doesn't just raise prices — it tricks you into staring at bigger dollar numbers instead of asking what those dollars can actually buy. A two percent pay raise sounds great until inflation is running at three percent. Your savings account pays more interest until you realize it's still losing purchasing power. This is “money illusion,” and it costs you real money.
In thi
How Food Delivery Killed Competition (And Took Your Budget With It) | Diving In
Getting food delivered should be simple — but somehow it's gotten outrageously expensive. In this video, Justin Wolfers break down why food delivery apps like DoorDash, Uber Eats, and Grubhub make it nearly impossible to compare prices, and why that's no accident. Justin Wolfers spent half an hour pricing the same dinner order across four platforms, and the results will make you rethink ever
Sifting Through the Wreckage of An Ill-Informed War| Slate's What Next + Platypus Economics
In this episode of Slate's What Next, we examine the economic costs of the conflict with Iran and why the true price of war extends far beyond the immediate impact on oil prices. From higher energy costs to the effects of rising geopolitical risk on economic growth, we explore how economists measure the consequences of uncertainty — and why those costs are felt most by the world’s most
Better Lawyers, Worse Economics: Inside Trump's Latest Tariff Strategy | Diving In
Trump's trade war just won't die. After the Supreme Court struck down his "Liberation Day" tariffs and courts blocked his emergency global surcharge, the White House is back with a third attempt — this time wrapped in language forced labor, unfair trade practices, and a legal paper trail designed to survive court challenges. It's a new legal strategy, but the same chaotic trade war that's be
The Job Numbers Will Probably Get Revised—That’s Not A Scandal | The Professor Is In
Justin Wolfers breaks down the biggest myths surrounding the monthly jobs report, starting with why strong hiring doesn't always move the unemployment rate. He also addresses the recurring claim that new jobs are low quality or mostly second jobs, explaining that the jobs report simply doesn't contain enough detail to support those conclusions in real time.
The conversation then goes deep on revis
Inflation Is Up—Temporary Bedfellow or Long-term Partner? | Off the Clock
The work week may be over, but the economy really never takes time off. In this week’s episode of Off the Clock, Justin Wolfers and Stacey Vanek Smith help you cut through the noise and figure out what you should actually care about from this week’s economic news.
They skip the SpaceX hype and dig into the stuff that shapes your real life—inflation eating into your paycheck and t
Are Markets Getting Suckered By Trump's Truth Socials? | Diving In
What happens when markets have to price the risks of war and presidential credibility at the same time? In this episode, Justin Wolfers explains why U.S. stocks keep rising and falling with Trump’s Truth Social posts, despite their questionable truthfulness. The core point: even if investors discount what the president says, they continue to react because the stakes are so large.
And the rep
Trump Tried to Mess With the Jobs Report. It Didn't Work. | Diving In
When the latest jobs report showed strong numbers, the internet exploded with accusations of fraud and government manipulation. And given everything the Trump administration has done—firing the head of the Bureau of Labor Statistics, attempting to install a partisan loyalist in her place—that skepticism isn't entirely unfounded. But skepticism and dismissal are two very different thing
The Future of Work Is Care—Can Men Adapt? | The Professor Is In
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
Why The Stock Market Hated May’s Strong Jobs Report | Off the Clock
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&rs
The Pink-Collar Economy Is Here | Diving In
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 ac
A Gas Tax Holiday Is Performative Nonsense | The Professor Is In
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 ma
A Gas Tax Holiday Would Miss the Point—And the People Who Need Help | Diving In
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 subsidi
Is Inflation Going to Ruin the Summer? | Off the Clock
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 cove
What Really Happens When Schools Lock Away Phones? | Diving In
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 ou
Justin Wolfers Answers Your Questions on the National Debt | The Professor Is In
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 com
How to measure the true cost of war: Justin Wolfers shows you the math | Diving In
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 le
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