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Platypus Economics with Justin Wolfers: Daily Summaries Delivered
by Betsey Stevenson & Justin Wolfers
Think Like an Economist and you’ll see the world more clearly, empowering you to make better decisions at work, at home, and in your community. Leading economists Betsey Stevenson and Justin Wolfers will take you on a joyous romp through their field as they introduce you to the big ideas in economics, and show how you can apply them to live in your own life. Their signature approach reveals that every decision is an economic decision and this podcast uncovers the economic forces that shape the world around you. Betsey and Justin believe that economics is a superpower, and they want to teach you to fly.
Latest Episodes
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- Yesterday17 min
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 revisions, seasonal adjustments, and benchmark updates — and why none of these are signs of manipulation, but rather evidence that measurement improves as better data arrives. Private sector estimates like ADP get attention too, but Wolfers explains why their margin of error makes month-to-month comparisons nearly meaningless. Inflation and recession close out the discussion, and Wolfers is direct: the two are related concerns but not interchangeable ones. Inflation can make households feel economically miserable without the economy actually being in recession. Public confusion between these concepts distorts everything from consumer confidence to political debate. Subscribe on YouTube https://youtube.com/platypuseconomics Subscribe on Substack 👉 https://newsletter.platypuseconomics.comFollow on Social Media @PlatypusEconomics and @JustinWolfersSee omnystudio.com/listener for privacy information.
- Yesterday51 min
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 the slow-motion crisis threatening Social Security. Justin argues this is the biggest story no one is talking about. They also discuss the World Cup ticket debacle—and whether prices are always the most efficient way to distribute our scarce resources. Subscribe on YouTube https://youtube.com/platypuseconomics Subscribe on Substack 👉 https://newsletter.platypuseconomics.com Follow on Social Media @PlatypusEconomics and @JustinWolfers Follow Stacey @svankesmithSee omnystudio.com/listener for privacy information.
- 5 days ago8 min
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 repeated claims that peace is just around the corner create a deeper problem. If investors come to treat presidential statements as noise rather than signal, markets may respond less than they otherwise would. That matters because Wall Street can act as a feedback mechanism, warning policymakers when a decision is economically dangerous. If that feedback loop weakens, bad policy is likely to last much longer. Subscribe on YouTube https://youtube.com/platypuseconomics Subscribe on Substack https://newsletter.platypuseconomics.com Follow on Social Media @PlatypusEconomics and @JustinWolfersSee omnystudio.com/listener for privacy information.
- 6 days ago19 min
Why I Still Trust The Jobs Report | 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 things. In this video, I want to give you the tools to evaluate the data yourself, rather than simply asking you to take my word for it. Here's what most people don't realize: the jobs report isn't a single number conjured by one agency. It's built from two separate surveys, cross-checked against state unemployment records, and stress-tested every month by independent researchers and private sector data from companies like ADP and Bank of America. I've seen authoritarian governments actually manipulate their economic data—and I know exactly what that looks like. What's happening right now isn't it. In this episode, I'll walk you through the anatomy of the jobs report, explain what real data distortion looks like, and make the case for why good economics means following the evidence—even when it doesn't fit the story you expected. 4:05 6:30 How the institution quietly held 9:16 Why I believe the numbers 14:00 What distorted data really looks like 16:06 Why the labor market looks strong Subscribe on YouTube https://youtube.com/platypuseconomics Subscribe on Substack 👉 https://newsletter.platypuseconomics.com Follow on Social Media @PlatypusEconomics and @JustinWolfersSee omnystudio.com/listener for privacy information.
- 1 weeks ago24 min
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 whether the demand for labor in traditionally masculine fields has been overhyped. It’s a discussion about economics, politics, and culture — and part of a larger conversation that’s only just beginning. Subscribe on Youtube: https://www.youtube.com/@PlatypusEconomics Subscribe on Substack 👉 https://newsletter.platypuseconomics.com Follow on Social Media @PlatypusEconomics and @JustinWolfersSee omnystudio.com/listener for privacy information.
- 1 weeks ago51 min
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’s better-than-expected jobs report, the stock market’s confusing reaction, and the recent concert cancellations for Trump’s Freedom 250 celebration. Justin argues there’s an economic story here—especially when you compare the rational choices of these artists to the tech industry’s relentless political brown-nosing. Then—in a new segment—Justin and Stacey take a step back from the grind of a daily news cycle to appreciate larger economic trends that give us much more fodder for optimism. First up—inflation (yes, really!). Subscribe on YouTube https://www.youtube.com/@PlatypusEconomics Subscribe on Substack 👉 https://newsletter.platypuseconomics.com Follow on Social Media @PlatypusEconomics @JustinWolfers Follow Stacey @svankesmith Editor’s Note: In this conversation, we mistakenly refer to Freedom 250 as America250. America250 is a bipartisan initiative established by Congress in 2016 to commemorate America’s 250th birthday. Freedom 250 is a separate, public-private initiative established by the Trump administration via executive order earlier this year.See omnystudio.com/listener for privacy information.
- 1 weeks ago13 min
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 actually growing. The industries adding jobs are disproportionately female-heavy – especially healthcare and education. Nevertheless, much of our economic policy continues to center an outdated image of work: factory floors, hard hats, and a romanticized industrial past. But if policy keeps looking backward, it will miss where real opportunity is being created. And if leaders steer training, subsidies, and political attention toward yesterday's jobs instead of tomorrow's, workers will be left less prepared for the labor market that actually exists. Watch on YouTube: https://www.youtube.com/@PlatypusEconomics Subscribe on Substack: https://newsletter.platypuseconomics.com/ Follow on Social Media @PlatypusEconomics and @JustinWolfersSee omnystudio.com/listener for privacy information.
- 2 weeks ago22 min
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 make any more sense, and why gas prices carry so much psychological weight in American politics. Like and review for more clear-eyed economics with Justin Wolfers.See omnystudio.com/listener for privacy information.
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About Platypus Economics with Justin Wolfers
Think Like an Economist and you’ll see the world more clearly, empowering you to make better decisions at work, at home, and in your community. Leading economists Betsey Stevenson and Justin Wolfers will take you on a joyous romp through their field as they introduce you to the big ideas in economics, and show how you can apply them to live in your own life. Their signature approach reveals that every decision is an economic decision and this podcast uncovers the economic forces that shape the world around you. Betsey and Justin believe that economics is a superpower, and they want to teach you to fly.
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