25 Burst results for "Stacey Vanik Smith"
"stacey vanek smith" Discussed on Wisdom From The Top
"Slash NPR. This message comes from NPR sponsor into it QuickBooks live. As a small business owner, you do everything yourself. But now you don't have to. Introducing a major advancement in small business bookkeeping, having someone else do your books for you right from your laptop. Into a QuickBooks live connects you with trusted experts who understand your business, guaranteeing your books get done right. So do the best thing you can for your business by letting QuickBooks take bookkeeping off your plate. Learn more at QuickBooks dot com. Hey, welcome back to wisdom from the top. I'm guy raz. So here's more of my conversation with Stacy van Smith, host of NPR's the indicator podcast and author of the new book, Machiavelli for women, a playbook for getting ahead. One of the things that really stood out to me is this idea that women tend to be at their best as negotiators when they're advocating on behalf of others. And it reminds me of something Simon sinek talks about and has talked about with us on the show about mission when the mission isn't about you, you tend to perform better. How can you apply this idea of advocating for yourself, but using the principles of advocating for others? Because clearly you discovered that women are more effective when they advocate on behalf of others. Oh yes, this was one of my favorite discoveries when I was writing the book. I called it the Erin Brockovich exception because although we do tend to look at women quite negatively if they're pushy and assertive and aggressive, we don't do that if women are being pushed assert and aggressive on behalf of someone else. That is very much in line with what we think an ideal woman is. She's selfless. So as a woman, you can kind of leverage it. For instance, if you want to ask for a raise, one thing you can do is think like, well, what should share in my colleague be getting paid? And it's like, you know, she's totally underpaid. She should be making at least $80,000, that's what you should ask for. And you're negotiation is likely to go better and be more successful if you do that. Also, when women get into leadership roles, I think this can be very, very powerful. It's something that's often called transformational leadership. So instead of asking people to do something, if you say we need to do things on behalf of the team, you know, the team basically becomes the other person that you are fighting for. So it's, you know, we really need to stay late so that the work that this team does is well represented. Like I really believe in this team, but the work that we've been producing is not up to the standards that I really know this team can meet. That sounds much different to people's ears than you guys are not working hard enough. This work is not up to par. It's not okay, you're going to need to work all weekend. One of the quotes in the book, among many of the quotes in the book from Machiavelli, is when he writes, he says the first method of estimating the intelligence of a ruler is to look at the men he has around him and essentially use this as a jumping off point to talk about building a support network at work finding mentors. And there's lots of unpack here because finding a mentor is not always very easy for women and for underrepresented folks at in workplaces because especially workplaces where men are in positions of power as you write. People tend to mentor people who remind them of themselves. So what is your kind of begin to understand about how to build a support network around yourself in the work environment? This actually emerged as maybe one of the most important things about succeeding in a workplace and in a profession overall is building a network. And by network, I mean, yes, mentors, what they call sponsors, which are like people very high up in the company. You can kind of do things for you, but maybe aren't actively mentoring you every day. Also, colleagues. Also, people who are newer than you are who have positions that aren't as powerful or well paid as your own. That network is crucial, I think, because that will help determine people suggesting you for projects, people telling you about what they're working on. People wanting to collaborate with you, people speaking up for you, suggesting you for things promoting you full stop. And people standing up for you in meetings. If you get talked over or interrupted, having someone else jump in on your behalf can be really powerful. So I think finding a mentor in a situation where there aren't a lot of people who are natural mentors is a process I think I would recommend looking for people whose work you like, look for people you admire. And for whatever reason, maybe they're really maybe they have amazing ideas. Maybe they're just really good at getting those ideas executed. Maybe they're amazing at working at a team. Maybe people just say really great things about them. And reach out to them and tell them that exactly, just say, you know, I really, you come up with the most creative ideas. It's so inspiring, I'd love to just get some advice from you and hear about your career trajectory because I'm hoping to get to X and so that person might not look like you. That person might have a really different background than you do. And it might not be a natural thing for this person to gravitate towards you, but I think if you feel a connection yourself to them for some reason, you admire their work, you like the way they operate in the office. You like the way they relate to other people. Whatever it is, you like their leadership style. Tell them that thing..
"stacey vanek smith" Discussed on Wisdom From The Top
"To wisdom from the top. I'm guy raz. At the beginning of her new book, Machiavelli for women. Stacey vanneck Smith cites a bunch of data that shows how undervalued women are in the workplace. And how underrepresented they are in leadership. So I asked her about something that really struck me when I read that data. It's amazing to read through them. Not because of the factual data, like we know, 80% of CEOs are men, 90% of Fortune 500 companies, corporate boards, 80% male. Women make 80 cents for every dollar men make, et cetera, et cetera. What's so unbelievable when you read these stats? Stacy is that I could have had that same exact conversation ten years ago. Yeah. You know, I remember the same statistics ten years ago. And then in ten years ago you would read them and say, well, this is going to change, obviously. And here we are, and it really hasn't changed. At all, even though there are more women getting law degrees of medical degrees, they do better in standardized tests across the board in secondary schools and in colleges. It hasn't changed. There's been very little movement over the last ten years. I think that's right, right? That is absolutely right. And this was, in fact, this was the thing I was looking into right before I decided to write this book was I was doing some pieces for my podcast on the gender pay gap. And I was looking into it and talking about it and one of the economists I was talking to this wonderful wound francine blau said, oh yeah, well, it's been the same for ten years. And I was like for ten years. She said, yeah, actually it's gotten a little worse. And I was like, ten years, that can't be right, but a lot of things have been stuck for ten years. The share of women in the workforce stuck for ten years, of course, since the pandemic, we lost 30 years of progress. Things are just stuck. And you're right, women are going to law school, medical school, college, and higher numbers. There are more women than men in law school. And yet 75% of federal judges are male. There are just about the same number of women and men in medical school, but 75% of surgeons, which didn't generally the highest paid job in that are male, 75% of law partners are male, 75% of elected representatives are male. Something is happening. There is a gap, like women are entering the workplace, but they're not reaching as I came to think of it like the princely realms, Machiavelli's principals are not getting into the executive offices. They're not getting the money for their companies. What is going on? And how can we possibly navigate that as individuals? Because of course, a lot of this could change with policy, but as individuals we don't always have an effect over policy immediately. So what can we do right now just you? So you sort of open up by kind of identifying some of the key obstacles that women face many of them we know well, systemic obstacles. And obstacles that can be as you rightly point out mitigated in some ways through policy. But there are other obstacles that seem self perpetuating, not because women are holding themselves back, but because society has created a context in which women are expected to think or act or behave differently. So, for example, talk about the Cinderella syndrome. What is that? The Cinderella syndrome, yes. This is one of the big ones. And this does seem very backwards in a way, but the research shows us that it's still very much alive and well. So the Cinderella syndrome is this idea that men tend to be promoted based on potential and that women tend to be promoted based on work that they've done sort of again and again and again and again. And a lot of the reason for this has to do with assumptions that people make. And not assumptions they want to make. A lot of times these are really good people, which is why I think this problem is so insidious and so hard to fix. But people associate being a woman being sort of a quote unquote good woman, ideal feminine qualities are things like compassion being self effacing, not asking for yourself, working on behalf of others being nurturing. I mean, those are really beautiful qualities, but the problem is the qualities people associate with leaders are not those qualities. The qualities people associate with leaders are people who are decisive, independent, don't care too much what other people think are assertive are not afraid to say something unpopular, not afraid to say the truth. And the qualities people associate with a masculine, like the ideal masculine qualities are very much aligned with those leadership qualities. And it's very much at odds with women. So when women display leadership qualities, they're independent, they speak out. They don't care too much what other people think. This doesn't sit well with people. Because somehow this person just doesn't seem quite right and what's happening is there is a clash going on in people's heads between what they associate with good feminine qualities and good leadership qualities they're at odds. And so you can end up the reason I call it the Cinderella situation is that Cinderella wanted to go to the ball and her stepmother said, you can go to the ball, but you have to polish the banister, clean the house, you know, do all of these chores. It was really just a way of saying you're never going to the ball. This is not happening. Is moving the goalpost. Yeah, it's exactly moving the goalpost. And this is exactly what happens to women at work. It's like, you're never going to the ball, but I'm going to pretend like you could go to the ball. Why don't you do all of this really brutal labor? Me time. And you will be underpaid and then in the end you won't go to the ball anyway. Based on your research and your mention, you interviewed some amazing, incredible people for this book. Janet Yellen, and the chef Nick and nikaya. And tech founders and Wall Street executives and a Dell Lim who wrote Crazy Rich Asians. And one of the things that you read about in the money chapter is that one of the reasons you found that women don't negotiate their salaries is because according to responses you gathered, many women find those negotiations to be excruciatingly painful and unpleasant and.
"stacey vanek smith" Discussed on Wisdom From The Top
"Cared deeply for creating a city in which people could prosper and thrive and do their best work. And he basically spent 20 years going from place to place, Pope's newest name, king's newest name. He was kind of wheeling and dealing on behalf of Florence. Because Florence did not have an army, they didn't have a ton of money. And so the only thing preventing France or the Pope from invading Florence and taking over was negotiation was Machiavelli's wits, honestly, was one of the main things standing between Florence and a despotic ruler, eventually Florence did fall. And the Medici family took control of Florence. And Machiavelli lost everything. He lost all this money, he was thrown in jail, tortured, and kind of run out of town. And Machiavelli loved his work. He loved his work. He found it so fascinating and invigorating and all of a sudden, not only was he not did he have no money and he was disgraced in living in this tiny town outside of Florence, but he had no power, like trapping birds for a living in this old tavern slash brothel that his family ran. I mean, his life basically vanished like an alka seltzer tablet. And so he wrote the prince to Lorenzo de Medici. Who was the person responsible for this terrible twist of fate for him? And if you look at the beginning of the prince, it almost, it's very cringey. Now to look at because he's like you're so glorious and you know I don't even my ideas aren't worthy of you. I mean imagine this is a man who tortured him and taken everything from him and monkey Billy comes crawling back and was basically hoping that the prince would be so smart and so kind of transplanted that Lorenzo de Medici would say, you know, this guy was working for the other side, but he is so brilliant I have to have him advising me and give him his job back. That was the prince. TLDR it did not work. It didn't work. No. So it was cover letter for job essentially. And do you think he imagined this book to be a manual for others or is it not really known? He wrote it as a manual, but it was a very particular manual. I think the universality of it, he never thought of. He writes the prints for what he calls the conquering prints. So he says there are two kinds of prints, those who inherit their kingdoms, and those who conquer a new land. Of course, Lorenzo had just taken over Florence. And he says, you know, for an inheriting prince, things are pretty cushy. No one really questions why they're there. They kind of have a precedent of power. But for a conquering prince he says things are really tough. Everybody's questioning their power, their right to be there. Why should I pay taxes to this guy? Why should I follow this guy's laws? Who does this guy think he is? Which makes it an amazing proxy for women in the workplace, honestly. And for marginalized workers in general, because you are essentially in this new kingdom, this new territory, right? The workplace. And you're there, but everybody's a little skeptical. There's a lot of pushback. There are a lot of people questioning whether you have the right to be there, and you have to fight to keep what you've earned. And you have to fight to grow it. I want to ask you about that very important insight you had and how it relates to women and marginalized people in the workplace in a moment. But before I do that, I wonder why do you think this manual, which was written for this specific print and maybe other people in similar positions, why did it come to be embraced mainly secretly by corporate leaders and politicians and others and leadership positions? Because we know so many of them have read it or parts of it, even if they might deny it. What about this book made it become this sort of manual for power for pursuing power? Such a great question. I mean, it had a very inauspicious beginning. Not only did Lorenzo de Medici seems like he never read it, never read the book at all, but the Catholic Church did read it, and they flipped out, they thought it was completely immoral. And they threatened to excommunicate anyone who bought the book. If you have the book, you could be excommunicated. And Machiavelli was I think shocked by this turn of events. He basically had been trying to get back in the good graces of the medicis and suddenly he was this villain. I mean, it was a complete catastrophe for him. And I think he died thinking the prince was a failure, not only a failure, but kind of got him canceled as much as one could be canceled in the 1500s. He was sort of thought of as evil. But when I was reading the book, I probably read it like a hundred times at this point. I have really come to love it and find it really beautiful. And I think the reason that it has endured, even though a lot of it's very outdated, there's something in there that's very timeless. And I think the thing that's timeless about it and I think the thing that makes it controversial are the same thing, which is that he just removes morality. And just looks very logically in situations. It is as if he's looking at people and human relations like a chess board. It's like, okay, what are your moves? Where are you powerful? Where are you weak? What can you do to maximize your power in a situation? And that makes it timeless because a lot of times our morals evolve over time, that can date things in a way. And it also makes it sort of shocking because when it's like, well, you know, if you wrong someone, it's probably a good idea to kill them and their whole family because otherwise they're gonna be angry with you and they're like dangerously plotting against you. I mean, it's solid advice, but it's bone chilling, you know? But this is like it's both the beauty and the horror of Machiavelli, it comes from the same place. If this is a manual, let's say, broadly speaking, to help pursue and hold onto power, it's largely been historically been, as I said, read by men, right? Men in positions of leadership. When did you first read this book and think, wait a minute? Everything he says here applies to me, my situation, women in general in the workplace and how women operate in the workplace. The idea came before I had reread the prince. The idea was it was actually kind of born out of some frustration. Because I've covered business and economics for 15 years, most of the people I talk to for my job are men, because economics is 75, 80% male. It's also very white. And business leaders, CEOs, 80% male. I mean, there's a huge issue happening in our economy, the gender pay gap has been stuck for a decade. There were all these things happening and we were looking around me at the economic data.
"stacey vanek smith" Discussed on Wisdom From The Top
"On business and finance for close to 20 years. She's the host of the indicator on planet money. And throughout her career, she is reported on everything from oil and Oklahoma to monetary policy and Pune India. And the more she examined the business world, the more she kept bumping into some unpleasant truths, 80% of CEOs are men. Women make 80 cents for every dollar a man makes. Women start 40% of the businesses in the U.S. but get 2% of venture capital. And of course, these trends extend into the world of politics, law, entertainment, you name it. So what to do? Well, Stacey started to think that some of the answers might lie in Niccolò Machiavelli. The oft quoted and sometimes misquoted 16th century philosopher of politics, diplomacy and power. Machiavelli is the source of lines like it is not the title that honors the man, but the man that honors the title, and the first method of estimating the intelligence of a ruler is to look at the men he has around him. And, of course, it is far safer to be feared than loved. For her new book, Machiavelli for women, a playbook for getting ahead, Stacy takes lessons from the careers of female leaders, including Janet Yellen, Adele Lim and Neha Nida, and from the philosophy of Niccolò Machiavelli, to propose a set of tools that women can use to gain more money, more confidence, more respect, and more support in the workplace. Stacy first read Machiavelli's most famous work, the prince, in the late 1990s. When she was an undergrad at Princeton, pursuing a degree in comparative literature, and she was not a fan. I really hated the book incidentally. I remember just having visceral reaction of hatred when I first read it. Because it's like this power or hungry, right? It seems like the key setting you up to live in a scary world. It's so cynical and sort of, I mean, the word that keeps coming into my mind is basic, right? It's like, how to get power over people. How to bend them to your will. It wasn't inspiring to me. This was nothing I had any interest in at age 18. I mean, I was a complicated guy. I was not interested in power or crushing anyone. Yeah. So who were the philosophers that appealed to you? I remember really loving Cicero. Cicero was so optimistic the way he wrote about mankind and humans and just the potential we all have in the inherent goodness we all have and that is also true, incidentally. I still love Cicero. I still get excited when I think about those ideas, but you know I've been working for a long time and slowly I've found myself thinking about Machiavelli a lot more over the years than Cicero. And I've developed an appreciation for Machiavelli that I definitely did not have in college. What were those triggers? Like, when do you remember him kind of popping back into your life from time to time? Yeah, it didn't happen in the early part of my career. I think it happened maybe 5 or 6 years into my career. I started thinking more about Machiavelli, because at that time, you can start to sort of see the arcs of people's careers a little bit. You see people start out and where they're starting to move, I've been working in public radio now for 15 years. So I have seen career arcs. I've seen interns turn into hosts. I've seen people drop out of the profession altogether. I've seen really talented people get kind of pushed aside. I've seen less talented people get elevated, I started to realize that, and this may sound incredibly naive. I started to realize that the situation we're in is not fair. And I started thinking about Machiavelli and I started noticing that the people who succeeded were not always the people who worked the hardest or who had the most talent, but a lot of times it was that mixed with people who were very savvy who could deal with other people really well who wielded power or dealt with people who were wielding power in a smart way. And I think that is when I first started thinking about Machiavelli, there was a line in the book that stuck with me from college that where he says we have control over about half of our lives. Fortune leaves us one half of our lives to control maybe a little less. And at first when I read it, I was like, of course, fortune doesn't control half of our lives. We control all of our lives. But of course, the longer I reported on people in the economy, the bigger my world got the more aware I became of people in different circumstances and just watching people in the circumstances around me, the more I began to think that was actually very wise. Most people who know the name Machiavelli know the prince and might know a few things like his famous line that it's better to be feared than loved. But best to be loved and feared, but if you have to choose one, better to be feared. And people often ascribe that to Richard Nixon, apparently famously would quote that. But tell me a little bit about him about Machiavelli. What was the context in which he was writing this, but what was this book supposed to be when he put it out into the world, you know? Hundreds of years ago. It was a cover letter in short. The prince was a cover letter. And it was a cover letter to the people who had taken everything from him. It was a groveling cover letter. If I had to sum it up, so Machiavelli, this was back when Italy was city states. And they were all at war with each other, and there was a lot of violence. A lot of blood, the king of France was running around, killing a lot of people, the Pope had armies. He was running around killing a lot of people. It was desperate. It was violence. It was chaos. And Machiavelli was essentially the Secretary of State for Florence. And he, he loved Florence. He wrote in a letter to a friend, I love Florence, more than my own soul. And he.
"stacey vanek smith" Discussed on The Indicator from Planet Money
"Adding nine hundred forty. Three thousand jobs in one month is amazing for months. Economists luke pardew has been waiting for this moment and it came early this morning when he went to the website for the bureau of labor statistics. Just as the report dropped for the july jobs. Numbers you open the page. Your eyes go to that number. I saw that nine and i immediately was excited. Because we've been looking for this number. Every time i scan to the jobs report when i opened that page and scan to the nine. I was incredibly excited. Because that's the number we've been looking for for so long and there wasn't just one nine either. There were two nine one for last month month of july and also one for june which was revised up. It was especially good to see those numbers because for the last few months it has been such a strange thing to see. The job's getting added more slowly than expected strange because at same time as there were millions of unemployed people in the us there were also millions of open jobs. Companies desperate for workers and yet in march april may all those millions of jobs and those millions of workers. Just didn't seem to be finding each other until now. It's really hard to find a blemish in this report. You look worried. I've got my word face on this job to be worried about these things. Luke says there are two main reasons for his worried economist. Face today and both of them have to do with timing. I the season sometimes. Seasonal adjustment can screw up numbers that the s. puts out and we've seen large gains in education here which might be due to the fact that schools have been building up staffing over the summer. Luke says regular seasonal adjustments are tricky now because the job market has been going through such a strange time and he worries. This month's number might be a little bit artificially high
"stacey vanek smith" Discussed on KQED Radio
"More information is it, Mac found dot org And by the listeners of KQED Sunny skies today highs mid sixties to mid seventies 64 the beach later on in half Moon Bay, 75 in Walnut Creek. 66 expected in San Francisco. It's 8 46. It's morning edition from NPR News. I'm Noel King and I'm Sarah McCammon. The global market for conferencing software is worth $8.7 billion, and there are huge players vying for that money. But zoom with a workforce of just a few 1000 employees managed to beat the big guys. Sally her ships and Stacey Vanek Smith over the indicator. Tell us how they did it. Wayne Kurtzman is a research analyst who covers Social Conference platforms like Zoom, So he spends a lot of time thinking about why some companies are more successful than others. What zoom did right Was something really, really simple. It focused on delivering happiness, and that sounds so esoteric and so Nonbusiness that it's perfect Zooms Mission statement is to quote make video communication frictionless and its philosophy is quote delivering happiness. Still, there are these other enormous companies that offer similar services like Cisco and Google. So let's look at their mission statements to Let's start with Cisco's because Eric Juan Zoom CEO used to work there. Stacy, would you please read Cisco's Mission statement? Absolutely. Here it is Quote to inspire new possibilities for our customers by reimagining their applications, securing their data, transforming their infrastructure and empowering their teens. How are you feeling? Oh, I lost, you know, happiness. I choose happiness. Sally and Eric reportedly says that when he worked at Cisco, he quote did not see a single happy customer. I mean, granted, He's not the competition so you might have taken up with great himself, but still When Eric left Cisco and founded Zoom, he decided to make happiness key and weighing, the analyst says. Don't be skeptical. The strategy worked. It wasn't just something on the board that they followed. It really had a different way that they handle customers. But of course, we can't really keep talking about zooms Big win without looking at one of its biggest contenders, the £800 gorilla, Google. So let's look at Google's mission statement here It is quote to organize the world's information and make it universally accessible and useful. It's not feel feeling that I'm dead inside. But to be fair, Google has been organized. It's been trying to dominate the conferencing market. But unlike zoom, Google wants you to use all of its different products and services. So it inadvertently put this speed bump in place. One of the challenges Google through up there, and any barrier at this time, perhaps is one too much is that you actually had to use a Gmail address, And this is where zoom went out again, Not only eight to do make an effort to be easy to use, but it was also easy to buy to be fair Zoom has had its issues. It has not been totally smooth. Sailing security was a pretty major issue for a while. Wayne says. Zoom has solved the problem. Alright, but still I think we have to just admit that video conferencing is probably here to stay. It can make life better in so many ways. Yes, it definitely can. But I think a minute go ahead and through my camera off right now. Sally Sally,.
"stacey vanek smith" Discussed on KQED Radio
"Engine control modules to tail lamps more at rock auto dot com. And the listeners of KQED. Six minutes Now past 10 o'clock sunshine expected all the way to the coast after the morning low hanging fog and clouds We expect high of 63 in San Francisco today. 68 in Oakland, 74 in Napa 72. The high expected in San Jose today. 80 degrees in Sacramento. 77 conquered in 61. Degrees Expected for Hyatt Point Reyes National Seashore. So have the high wind advisory for the Bay Bridge right now. Hey, y'all. This is Sam Thought Daddy this week why We're in a labor shortage and what re opening feels like all right, let's start this hour. Hey, yeah, you're listening to it's been emitted from NPR. I'm Sam Sanders. And this episode. I am so happy to welcome back one of the most dynamic duos in public radio history. Small disclosure. One of them right now is not officially in the public radio family, but it still counts. Two of my favorites. Cardiff Garcia Stacey Vanek Smith. Hello. Hello. Hello. Hello. Hi, sis. Sam. Nice to still be in your warming. Race. Your face. Cardiff? Yes. Seriously? Yeah, guys, that closet on that blanket. That's right. Oh, my God. They're bark that their dogs barking. Hold on. Give me one sec. You hear him? Yeah. I love.
"stacey vanek smith" Discussed on KQED Radio
"The country celebrated all Aaron could feel was relief. There He is in a 2016 w Abe interview. It was 2.5 years problem. Told this story many times was probably the saddest 2.5 years I ever had in baseball pressure on myself. Aaron eventually hit 755 home runs a record that's stood for more than 30 years before it was broken by Barry Bonds. Aaron was inducted into baseball's Hall of Fame in 1982. After his career, Aaron made Atlanta his home and became a fixture in the community. Hank Aaron. He was a part of the Braves coming from you're walking to Atlanta to prove that we were sitting too busy to hate. Atlanta Native C. J. Stewart, who once played in the Chicago Cubs organization, says Erin was not only a transformative figure in the city's history but was also a mentor. We can hold our heads up high black men and black boys. Like people that love this game of baseball. Knowing that he was a man that used this game to do a lot of amazing things for his contributions to the game of baseball and his community. George W. Bush gave him the presidential Medal of Freedom in 2002. Today, another president, Jimmy Carter, was among those honoring Aaron. Party called the baseball legend, a breaker of records and racial barriers whose remarkable legacy will continue to inspire countless athletes at admirers for generations to come for NPR news. I'm a meal Moffett in Atlanta. You're listening to all things considered from NPR news. The international space station cost hundreds of billions of dollars to build for astronauts living on the space station. Though money is essentially abuse lists, there's nowhere to spend it. But that does not mean there isn't an economy for the handful of astronauts living on board. From our daily economics podcast, the indicator from Planet money. Stacey Vanek, Smith and Cardiff, Garcia explained the economy aboard the international space station is all about trade. This is according to astronaut though we lock Actually, everybody at NASA calls me wheels. I'm one of the old grizzled veterans. So the early career astronauts call me Papa Wheels. Doug Papa Wheels served as the commander of the International Space Station and lived there orbiting the Earth for six months. That interesting thing is with food. Of course. Doug says that aboard the space station Most of the food is actually pretty bland. But every three months a big event would happen. Doug and his crew would get a shipment from Earth just before they closed the hatch on the launch pad they would throw like a bag of Fresh fruit like oranges, lemons, apples, vegetables as well. Everybody would only get one or two pieces of producer just wasn't that much of it. And so here is where the trade comes in. Doug knew that the Russians loved onions, but Doug loved fruit Theater. Your chicken was my commander. And I said, Hey, Theater, want trade? An onion for do you have? Ah, like an extra orange goes all You don't want your onion. Of course, The space station economy was not just about food, though. Services were also a big part of it Dug, for instance, has an engineering background and he says for him, one of his least favorite parts of life aboard the space station were all the scientific experiments. They had to do Whatever their background, this was just part of what they did every day. Way out of it. Economics. Doug discovered this a couple of weeks into his mission. When one of the scientists aboard the space station told him that there was a big problem, she said. Hey, the party's broken know what you want to hear aboard space station that's for sure. No, But Doug's background was an engineering, so he understands systems and he says, fixing things comes really naturally to him. And the scientists This woman named Shannon knew this about Doug Shannon looked at me, she said. If you fix the party Do all of your science for the rest of the day. I'm thinking like that is a deal and a half. I'll take that deal. So I got my bike tool belt and called Houston and said, You know, Houston, we have a problem. The party is broken, but the real commodity on the space stations is Doug. Was Earth itself. For example, Doug says, you just want to see and talk to other humans. Even if you don't know them. You want to drop in on other astronauts video chats and see their families and talk to their friends. You don't care. Yeah, because in space, humans are a precious commodity. And I asked if there was ever bartering around this like, hey, you can join my video chat with my family for an apple. Indexes. Actually, everybody needs human interactions so much they don't really trade it because it becomes sacred when you get back to earth, Doug says. Your idea of what's valuable is changed forever. It's completely changed my whole perspective. Especially especially rain. I am just like fascinated by rain now. I bet I just The smell of it the sound of it and just to feel against your skin I took for granted before you know. Stacey Vanek Smith. Cardiff Garcia NPR news s support for Planet money comes from tableau providing analytics designed for people to find the insights needed to solve today's complex challenges and the resiliency to drive business forward. Maura tableau dot com slash NPR. You're listening to all things considered from NPR News. Traffic trouble in the Santa Cruz Mountains continues at 5 48 with the details. He was Julie Depp ish. Julie with that wreck on highway 17 South Bend a redwood is states. A good news is it's all the shoulder now. Do you have the backup? Did Bear Creek Road San Leandro? Those who crashed South 8 80 before to 38? Three vehicles all out of the lanes now heavy backup to Marina If Fairfield eastbound 80 after Cordelia truck Scales stall big rig in the right lane as.
The Economy Aboard The International Space Station
"The international space station cost hundreds of billions of dollars to build for astronauts living on the space station. Though money is essentially useless, there's nowhere to spend it, but that does not mean there isn't an economy for the handful of astronauts living on board from our daily economics podcast, the indicator from Planet money, Stacey Vanek, Smith and Cardiff, Garcia explained. The economy aboard the international space Station is all about trade. This is, according to astronaut Doug Wheelock. Actually, everybody at NASA calls me wheels. I'm one of the old grizzled veterans. So the early career astronauts call me Papa Wheels. Doug Papa Wheels served as the commander of the International space Station and lived there orbiting the Earth for six months. That interesting thing is with food, of course. Doug says that aboard the space station most of the food is actually pretty bland. But every three months a big event would happen. Doug and his crew would get a shipment from Earth just before they closed the hatch on the launch pad they would throw like a bag of Fresh fruit like oranges, lemons, apples, vegetables as well. Everybody would only get one or two pieces of producer just wasn't that much of it. And so here is where the trade comes in. Doug knew that the Russians loved onions. But Doug loved fruit. Cuter. Your chicken was my commander. As said, Hey, theater. What trade An onion for do you have? Ah, Like an extra orange. He goes all you don't want your onion. Of course, the space station economy was not just about food, though. Services were also a big part of it Dug, for instance, has an engineering background And he says for him, one of his least favorite parts of life aboard the space station were all the scientific experiments. They had to do whatever their background this was just Part of what they did every day, the way out of it Economics. Doug discovered this a couple of weeks into his mission. When one of the scientists aboard the space station told him that there was a big problem, she said, Hey, the party's broken not what you want to hear aboard a space station, that's for sure. No, But Doug's background was an engineering, so he understands systems and he says, fixing things comes really naturally to him. And the scientists This woman named Shannon knew this about Doug Shannon looked at me, she said. If you fix the party Do all of your science for the rest of the day. I'm thinking like that is a deal and a half. I'll take that deal, so I got my bike tool belt called Houston and said, You know, Houston, we have a problem. The party is broken, but the real commodity on the space stations is Doug. Was Earth itself. For example, Doug says, you just want to see and talk to other humans. Even if you don't know them. You want to drop in on other astronauts video chats and see their families and talk to their friends. You don't care. Yeah, because in space, humans are a precious commodity. And I asked if there was ever bartering around this like, hey, you can join my video chat with my family for an apple. Indexes. Actually, everybody needs human interactions so much they don't really trade it because it becomes sacred when you get back to earth, Doug says. Your idea of what's valuable is changed forever. It's completely changed my whole perspective. Especially especially rain. I am just like fascinated by rain now I made I just The smell of it the sound of it and just to feel against your skin I took for granted before you know Stacey Vanek, Smith. Cardiff Garcia NPR news
Lego Fans Tricked By Counterfeit Kits
"Lagos, are more than a toy, their investment, the company that makes those little plastic building blocks pulled in more than five point five billion dollars in sales. Last year, they often sell legos in special kits, sometimes depicting famous movie scenes and they retire those kids after a while making them collector's items for fans and upping their value. But where there's money to be made, there are also scams. Let's go into the world of counterfeit. Lego sets with Stacey Vanek Smith and Sally herships from the PODCAST, the indicator planet money. Tom glasco lives in Dayton. Ohio is three kids and they all love Lego, which is how he got into trouble. He'd been looking for a LEGO ray resistance fighter for his son and so perusing facebook one day I saw an ad for it for what seemed to be a low. But maybe not too low of a price. The exiting was half price just thirty bucks. The pieces weren't the same quality and they didn't go together quite as nicely as regular legos Tom had bought what turned out to be a knockoff. Lego set a counterfeit on their own legos are just these little plastic bricks. You can see why it would be tempting to make. Counterfeits chronic air pot or an apple watch or something the biggest and most notorious. These counterfeiters is a Chinese brand called Leppin. It operates completely openly I mean you can visit the company's website Leppin, world dot com and you will see that its logo and Legos logo are almost identical. But if you end up buying a knockoff, you don't just risk getting a flimsier product you could also ended up costing yourself money down the line if you're planning to resell your legos later on to understand how the LEGO scams work I turned to a superfan Steve Elliot he is thirty eight and lives in Albany Wisconsin if someone posts like a big seven, hundred dollar. People will zoom in and look to see if they can see the legos stamp on the top of a brick, which is called a stud. They don't see it. They'll accuse them of it being a knock off products. The lego community is enormous. There are whole websites like brick picker, dot, com brick link, and facebook groups like star. Wars Lego collectors USA, and if you buy fakes even accidentally and try to resell them, you could get yourself banned in two thousand seventeen something unprecedented happened in the Lego aftermarket, the secondary market, the prices of big sets, those giant boxes with thousands of. Lego pieces they started dropping, and this is according to brick picker. One of those Lego pricing and investment guides unprecedented here here's a clip from the brick picker youtube channel. Now, elephants in the room of course, is the Millennium Falcon and take a look at legal Millennium Falcon Graph when the Lego Millennium Falcon was first released over a decade ago. It was the most expensive legos ever four, hundred, ninety, nine dollars, ninety, nine cents, and then the price shot up to almost five thousand dollars but a couple of years ago it dropped by more than thirty percent in less than a year. By this set was one of the worst decisions that I made in my entire collection brick picker said. In Alkan started cropping up all over the Internet from places like let's knock off Millennium Falcon sets, which, of course, sell for much less a Lotta the Lego fans I talked to you were pretty upset about this. So be careful out there the next time you are shopping make sure you are getting the real thing
"stacey vanek smith" Discussed on WNYC 93.9 FM
"I'm Stacey Vanek Smith in New York, and I'm Ari Shapiro in Washington. The White House is not all that's at stake in November. So is the Senate majority. Republicans are working hard to keep control and are closely watching today's primary race in Kansas. GOP strategists fear that if Kansas is former Secretary of state Kris Kobach wins the nomination, the GOP could lose the Kansas Senate seat in November and take their majority down with it. NPR congressional correspondent Susan Davis joins us for the latest Taesoo. Why are Republicans worried about Kris Kobach winning today's primary? Yes, I mean, Kansas is a really Republican state. It hasn't sent a Democrat to the Senate since 1932 so it's not like Republicans can't win in Kansas. It's just that I've spoken to a lot of strategists I believe this one very specific Republican cannot win. Kobach is a divisive candidate. He's really well known in the state, but mainly for negative reasons, like his legal actions against voter fraud that were ultimately undone in the courts. The fear they have around his candidacy is that while he has a lot of support among the base, he repels centrist Republicans, women suburban voters, and all of that could contribute to the Democrat that's expected to clinch the nomination. Today, State Senator Barbara Boehlje and Democrats know this. It's why they've been meddling in this race, Democratic align super PACs have been running attack ads. Against co box primary opponents to try to elevate his candidacy. And where does the Kansas race fit into this larger puzzle of who retains control of the Senate this year? The fact that we're even talking about Kansas is itself a sign of the political climate. Republicans are facing about 90 days out from the election, and it's not good. If Republicans can hold Kansas, the people I talked to are more optimistic they can hold the Senate, even in a scenario where Joe Biden wins the White House, But even if it's mathematically possible to lose Kansas and hold the Senate, I haven't talked to anyone who believes that it's probable that they could hold the Senate and lose a seat in Kansas. So which other states are going to be most likely to decide the majority. The orbits about 10 races and Republicans are on defense in nine of them. They only have one real shot out to pick up in Alabama. That's where incumbent Senator Doug Jones is expected to lose two former football coach Tommy Tuberville in that event. Democrats need about four seats, toe have a shot at the majority, and right now it's pretty pretty easy to see how they could get to three Republican senators Cory Gardner in Colorado, Martha McSally in Arizona and Thom Tillis in North Carolina are all down in the polls against their Democratic opponents. All states, Joe Biden is leading in a swell Getting to four seats gets a bit trickier after that, Which is why Republicans are so worried about Kansas. It makes that path a lot clearer. Okay, So you said there about 10 key races. You've told us five of them. What are the others? Mane. Of course, everyone always wants to talk about main, Susan Collins. She is one of these incumbents who has seen her fortunes turned upside down. In the Trump era. She has gone from being one of the most popular senators in the country to one of the most unpopular senators, but Republicans still believe she, Khun dude, what? Basically no other Republican Senator Khun do this cycle and that's run ahead of President Trump. She has run ahead of Republican presidents before they believe she can do it again, although it's harder and harder to do, because fewer people split their votes between the two parties anymore. If it's a really bad year for Republicans, Montana and Iowa or two states to watch they could be late Breaking. Democrats have a good candidate Montana and their governor, Steve Bullock, Iowa voters, You know, they tend to be more swinging than we often give them credit for Iowa can always be a surprise and national elections. And finally Georgia. It's a really unusual state this year because both seats are up. One is on the ballot in both around the ballot November, but one is a special election, and that means it's likely headed to a runoff in January. Which means that this is a close election. If we're looking at a potential 50 50 Senate control of the Senate could come down to a special election in early January. NPR congressional correspondent Susan Davis watching the map. Thank you very much. You're welcome. Bars and Corona virus don't mix. So, say public health experts and so many states have closed bar's down will stone reports. At.
"stacey vanek smith" Discussed on KQED Radio
"By the listeners of KQED increasing clouds today that means it's for were preparing for some rain that'll happen tonight in the meantime today's temperatures from the low sixties at the coast of the low eighties tonight late at night after eleven well at forty percent chance of showers and tomorrow we've got a fifty percent chance of rain on and off around the bay it will be partly sunny as well good morning the time now it's eight forty six this is morning edition from NPR news I'm David Greene and I'm Rachel Martin for many hospitals preparing for a surge of covert nineteen patients cost a whole lot of money some hospitals built the capacity but the surge never came and non COPD patients stayed away Stacey Vanek Smith is with our daily economics podcast the indicator from planet money and she's been tracking one hospital trying to convince people it is safe to come back about a month ago we spoke with Dr Patrick Kali he heads up the medical university of South Carolina health has over seventeen thousand doctors nurses and other health care workers and hospitals throughout the state when we talked with him last month he had just laid off nine hundred people but I was it was the hardest decision I've ever had to make my entire career to prepare for the corona virus pandemic hospital had to shut down the parts of its business that make the most money the elective surgeries like hip and knee replacements and the procedures like Colin Oscar bees is in March we lost twenty million dollars in April with one of lost a little more than thirty million dollars the Patrick how to get the hospital ready for a surge of coronavirus patients which she was expecting to hit in late April and yet the worst.
State unemployment offices overwhelmed amidst covid economic crisis
"Many state unemployment offices run on tiny budgets they have out of date computers and sometimes just a few dozen employees and suddenly these little offices are a lifeline for thirty six million Americans who are out of work Stacey Vanek Smith from our daily economics podcast the indicator brought us the story he won Ellison and her husband were laid off from the Subaru factory in Lafayette Indiana back in March they played for unemployment right away and then they waited a week one Brian right okay I have some savings save the two weeks went by on line okay start to get a little bit ridiculous now and now it's like okay it's Maine now we're gonna have to take right next month it's been more than six weeks since they applied and killing her husband still have not gotten their unemployment checks meanwhile kills husband got sick with covert nineteen some of her kids have been showing symptoms so she is trying to quarantine people care for people cook clean and keep the kids doing their school work keep everybody inside and on top of that she is spending hours on the phone every day with Indiana's unemployment office just calling the one eight hundred number which I you're just waiting and waiting and waiting okay let's try to email thought maybe that would be faster email ninety different claims eight and I only got a response back from one of all the ninety people online what is going on my name is Josh Richards and I'm the chief of staff at the Indiana department of workforce development we operator states unemployment insurance program Josh has been working there for more than a decade he was there during the Great Recession when things got so bad they had nearly thirty thousand people applying for unemployment in one week so when Indiana announced a state wide shutdown there's this one thought that went through his head how do we possibly staff out to process benefits that people need and the time frame in which they're going to expect them and need them just a few months ago in the end it was seeing record low unemployment the staff was lean but was more than adequate to handle the two thousand odd people filing for unemployment every week and then the claim started coming in three thousand people five thousand people ten thousand people Josh couldn't believe what he was seeing and the numbers kept climbing yeah I was like a hundred twenty hundred thirty hundred forty eight hundred and forty thousand people filing for unemployment in one week that's almost five times with Josh had seen it during the Great Recession this was just really different than what we are expecting and what we were built for in last week's Josh's brought on hundreds of people you now is roughly six hundred and fifty people working with him but they're trying to assist six hundred and forty thousand Indians who've lost their jobs people like Kayla to go from being not only backbone and our only source of income Sir just waiting you don't know when it's coming I was I was very light I was at my lowest yesterday I was over I quit Josh Richardson says his team are working as fast as they can he says he knows that for a lot of people people by Kayla it's just not fast
"stacey vanek smith" Discussed on WNYC 93.9 FM
"New normal masks in some parts of the country face masks are just as essential issues when you leave the house Stacey Vanek Smith in Cardiff Garcia from our daily economics podcast the indicator from planet money explore the rise of the facemask Valerie Steele is an historian of fashion in New York he's also the director of the museum at the fashion institute of technology we called Valerie to ask her about masks the masks that people have been increasingly wearing since the start of the corona virus pandemic the idea of masks as personal protective technology like medical mass that's something that goes back to the end of the nineteenth century where in Europe surgeons realized that they could help prevent germs and bacteria from their mouth entering into people's wounds as the corona virus pandemic tragically lingers on a lot of people in the U. S. are gonna continue to wear masks out in public as time does go on will more people start thinking of masks as just part of what they wear every day a part of their outfit value says that has happened before in other parts of the world when they had to deal with earlier outbreaks of contagious diseases with a variety of pandemics like sars and mers over the past fifteen years or so people in Hong Kong China and Japan started increasingly to wear masks to protect themselves but also to protect the people around them and not only was mask wearing ubiquitous this is a part of the world where people are very interested in fashion and so quite quickly you also saw fashion masks being worn now it's early in the trends but Valerie does suspected something like this is also happening now in the US and Europe as a response to corona virus but there is more to this story than just business in fashion right now for example wearing a man ask has become part of a culture war here in the US yes it's a part of the country people are protesting against being ordered to wear a mask the protesters say they are trying to protect their personal freedom yeah and the advocates of wearing masks are saying that it's about science they point to evidence showing that if you wear a mask there is less of a chance that you'll infect other people if you have coronavirus Valerie says for her wearing a mask can send a message of solidarity I think that this idea of fashion Ising masks is a good way to normalize them and to say that this is you don't need to be scared you just need to be part of this we're all in it together and a bunch of fashion designers.
Planet Money: Single Women Are Shortchanged In The Housing Market
"Buying or selling a home is difficult. Even if you are very savvy with money but academics have discovered. It's even harder if you're a single woman. Sally Herships Stacey Vanek Smith from our daily economics. podcast the indicator from planet money. Explain what's going on. A new study just came out of Yale School of Management. It looks at how well single women do versus single men when they buy home or when they invest in the housing market housing is probably the largest purchase. It's made by most Americans. That's Kelly shoe. She teaches finance at the Yale School of Management and she says we invest more in our homes than in the stock market so when gene her colleague Paul Goldsmith. Pinkham recently bought houses around the same time they were paying a lot of attention to the transactions. Kellyanne Paul ended up looking at data data from over fifty million housing transactions. And here's what they found. On average single women buy houses for two percent more than single men but they also sell those houses for two percent. Less women are losing about one thousand. Three hundred seventy dollars per year relative to men because they tend to buy the same house at a higher price and sell for a lower price just knowing the gender of the other party can affect the sale according to Kelly shoe when women make low offers the are treated differently differently than men who make the same low offers. It is an unfortunate consequence of perhaps our culture and the fact that We may I expect that women are more willing to share the pie and share the surplus from negotiation. This is called gender expectations. It's the possible that women are expected to be nicer to be more generous to be more thoughtful. It's the idea that everyone should benefit from. The sale of this House both buyer higher end seller. But no matter what the reason is that is not exactly what happens. When single women houses remember single women buyers they are already spending more buying it higher prices and they also sell for less and guess who they give the biggest discounts to we find that the largest richest discounts tend to occur. When it's a female seller and mail buyer single? Women also do worse when it comes to. What is called market timing? Kelly says that could be because single women tend to be more tied down and in case. You're wondering Kelly and her co author accounted for all kinds of things education. An income age type of home listing agent ethnicity. They adjusted for all of these things and the results stuck so this is kind end of distressing but there was a silver lining there some good news depending on how you characterize a silver lining women on average do better when they are transacting with other women. So there's a tip for single women if you are buying or selling a house like look at doing business with a woman you might get a better deal and Kelly had some other tips. She says single single women are able to. They should try to think long term to become long-term investors because every time a single woman buys or sells a house. She is likely to lose two percent cent compared to a single man. Stacey Vanik Smith Sally Herships N._P._R. News.
WeWork And The Future Of Coworking
"This message comes from NPR sponsor xfinity some things are slow like simple easy awesome more at xfinity dot com restrictions apply after investors took a close look at the company's books and lost confidence in what they found there here is Stacey Vanek Smith and Cardiff Garcia from NPR's Daily Economics podcast. The came we work we work was not boring or beige it was this whole new way London earlier this year the company was estimated to be worth forty seven billion dollars Sir look at we works books and investors freaked out the companies rolling company I'm all Sarda is the CEO of a company called Motel which he would basically no tell does compete with we work yeah though Amal does say that they have different companies and it will probably benefit from we works implosion though a mall says probably L. Answers or working for tiny startups most of us just worked for big boring companies enterprises. They believe they're big oh in the last couple of years we worked did start to target bigger binny's on the other hand tend to make for more stable tenants and also they just have more money five hundred dollars a month and that is just for access to the lounge common area if you want in extremely price sensitive and they have much cheaper options and if those
Selling Dinosaur Bones On eBay
"You can list all kinds of things on EBay, right? Secondhand books. Vintage clothes couches, but dinosaur fossils. Yup. You can make good money selling fossils online. But that does not sit well with some scientists Cardiff Garcia and Stacey Vanik Smith. They are hosts of NPR's podcast, the indicator from planet money, and they've got the story of one guys attempt to e sell a tab Ranna Storace. Rex here is the specific EBay listing for the T. Rex it. Reads young baby t Rex dinosaur fossil the price two point nine five million dollars. So first question who has a T Rex to sell on EBay? I I'm Alan Dietrich. And I'm a professional dinosaur hunter in the US. If you find a dinosaur on your property you own it. It's yours so Fussell hunters like Alan go to fossil country. I went to where they would find the big p Rex's Garfield county, Montana and carting county, South Dakota. The find the person who owns the property where the dinosaur is Andy says, let me look around your land for dinosaur bones. And if I find one I'll give you a cut, Allen's found a lot of fossils this way, including the baby t Rex binding dinosaur bones and selling them to museums and private buyers is how Allen makes money one of the pioneers of this business is Pete Larson. Larson runs. The black hills institute of geological research in South Dakota. So far, we've collected ten different trying to source. Rex skeletons partial skeletons, and that's kind of a record. I guess okay. Pete is being modest there around forty t Rex skeletons that have ever been discovered and Pete has found ten of them. When Pete started out in the fossil business in the late seventies. It wasn't really a job that people had but that changed in the mid nineties when a couple of things happened. I. That's such a good ROY even Spielberg happened. Yes. Even Spielberg happened addressing progresses. Huge hit. And suddenly everybody was super individuals and wanted to hunt for them a number two one of the T Rex is that Pete Larson found a T Rex named sue fetched more than eight million dollars from a buyer and people thought, whoa. There was real money to be made in dinosaurs. And suddenly Montana and South Dakota. We're just like crawling with fossil prospectors and fossil hunting win from this kind of sleepy shoestring academic pursuit to a pretty hot little business. Allen Dietrich is hoping to get a premium for son of Samson because it's the only known baby t Rex. So I'm looking at it. Now, it's two point nine five million approach to cheap. You probably it's priced to move. And sale. Yeah. Now, the for profit fossil business has caused a lot of controversy among museums and the academic community because some of the people hunting just have no qualifications. So they can end up easily destroying priceless fossils. But Larson says the fossil market has to evolve with the times without these private collectors. Most museums would not be able to get real fossils for exhibit, the EBay place seems to be working Allen dietrick says he's got an offer. Who is it a good offer? Well, I'm gonna use a double entendre with you. Okay. It's a bona fide. Stacey Vanek Smith Garcia NPR news.
"stacey vanek smith" Discussed on WNYC 93.9 FM
"We could see some showers and thunderstorms mainly later on this morning after eleven o'clock, otherwise mostly cloudy with a high near sixty five degrees. It's morning edition from NPR news. I'm David green. And I'm Rachel Martin. Those of you who don't have to buy tampons may not know that in many states, you pay a sales tax on menstrual products. Several states though, have either eliminated that tax or are considering doing so Stacey Vanik Smith and Constanza Hyodo from planet. Money's the indicator had been adding up the cost of the so-called tampon tax sales tax most people in this country, pay sales tax on most of the things they buy it's a big source of state revenue some items like food or water that are seen as necessary to survival are not subject to this tax prescription and nonprescription drugs are also accept medicines. Like, aspirin dayquil or biogra- also medical equipment and supplies which can be things like chapstick Goss, but tampons pads cups and all of the menstrual hygiene products, do not fall into the medical supply category in many states and a lot of people argue that's not fair. So he salesman is one of the lawyers that filed a lawsuit in new. New York to eliminate the sales tax on Mensur products back in two thousand sixteen salesman. And her team argued these products are medical supply, and they should be tax exempt, and one example, the department of tax gave was things like bandages, gauze and dressings. And so those are items that are used to staunch the flow of blood from the human body and tampons and pads as well as cops and panty liners. Those are used to staunch the flow of blood from the uterus. So again, clearly these items have to fit within that definition Zoe made her case and the New York legislature took notice and in fact, passed a Bill back in two thousand sixteen to exempt feminine products in New York from sales tax. So that extra cost here. New York, we do not pay it anymore. Yeah. But many other women in other states do pay and overtime that cost adds up. And a study published this year by the American college of obstetricians and gynecologists found that two out of three low income. Women in the US couldn't afford MetroPCS at least once a year and nearly half of them struggled to buy both food and mental hygiene products over the last year. In fact, there's economic research that the tax break on tampons really benefits low income people that's based on consumer data after New Jersey's tampon tax was repealed back in two thousand and five research showed that by eliminating the tax in meat products cheaper and more accessible to lower income women. But some people say the Tampax needs to stay, but when you start moving into this world of exemptions you start adding complexity because you have to define what is and is not a qualified good under the exemption. Nicole kaeding with the tax foundation, a think tank that studies tax policy she says sales tax exemptions can be problematic because they can mean that states don't have enough money to fund public policies or programs. And as a result states may have to increase other types of taxes to get that funding back bagging twenty six. California governor Jerry Brown. Vetoed. A Bill that plan to eliminate the state's tampon tax. He argued that by not taxing measure products, California could lose up to twenty million dollars in annual taxes. And the governor has a point here in New York where we eliminated the tax on minstrel products. We're losing about fourteen million dollars a year in Las tax revenue. Of course, this isn't just an economic issue. It's a political issue to last year, for example, Nevada voted to make menstrual products tax exempt and this year, Michigan, Georgia, Ohio and California are pushing for legislation to repeal the tampon tax. Stacey Vanek Smith NPR news..
"stacey vanek smith" Discussed on KQED Radio
"KqeDorg/donate and do exactly that at that website. The time now is eight forty six. It's morning edition from NPR news. I'm Steve Inskeep. And I'm David Greene. It was really cold and much of the country last week like really cold thief. River falls, Minnesota recorded minus seventy seven Fahrenheit one night. But how can you measure the costs of extreme weather, Stacey Vanek Smith and card Garcia from planet. Money's the indicator podcast. Tell us what happens to the economy when it rains or hails or gets really cold outside North Dakota, South Dakota, Iowa and New Hampshire also temperatures in the negative double digits last week. The culprit the infamous polar vortex, basically. A weather system that is usually above the North Pole came here to visit us in the US. Andreas prion is a research scientist at the center for atmosphere. Iq research studies extreme weather for a living, and he looks at the different impacts that the weather can have what is the economic effects of extreme weather. It's really big is climate change is causing more intense. Big storms like hurricanes, and these storms are more expensive than they used to be both because they're more intense. And also because there are more people moving to areas that are affected by extreme weather places, like New York and Florida the biggest economic sector in the US is coming from hurricane. So for example, if he talked to insurance industry they're most concerned about Atlantic hurricanes when they hit the east coast. Andrea says that seventeen of the twenty most expensive and damaging cyclones that we've had have occurred in the last twenty years. He says it hurricanes Katrina sandy Harvey and Maria all caused between roughly seven. Billion and one hundred and twenty five billion dollars each in damages.
"stacey vanek smith" Discussed on KQED Radio
"It's morning edition from NPR news. I'm Steve Inskeep. And I'm David Greene. It was really cold and much of the country last week like really cold thief. River falls, Minnesota recorded minus seventy seven Fahrenheit one night. But how can you measure the costs of extreme weather, Stacey Vanek Smith and Cardiff Garcia from planet. Money's the indicator podcast. Tell us what happens to the economy when it rains or hails or gets really cold outside North Dakota, South Dakota, Iowa and New Hampshire also temperatures in the negative double digits last week. The culprit the infamous polar vortex, basically a weather system that is usually above the North Pole came here to visit us in the US Andreas prion is a research scientist at the center for atmospheric research. He studies extreme weather for a living. And he looks at the different impacts that the weather can have what is the economic effects of extreme weather. It's really big is this climate change. Is causing more intense big storms like hurricanes and these storms are more expensive than they used to be both because they're more intense. And also because there are more people moving to areas that are affected by extreme weather places, like New York and Florida the biggest economic factor in the US is coming from hurricane. So for example, if he talked to insurance industry most concerned about Atlantic hurricanes when they hit the east coast. Andrea says that seventeen of the twenty most expensive and damaging cyclones we've had have occurred in the last twenty years. He says it hurricanes Katrina sandy Harvey and Maria all caused between roughly seventy billion one hundred and twenty five billion dollars each in damages.
"stacey vanek smith" Discussed on WNYC 93.9 FM
"We'll have some patchy drizzle before noon today. Otherwise, a cloudy day with a high near forty seven degrees. This is WNYC at five forty five. It's morning edition from NPR news. I'm Steve Inskeep. And I'm David Greene. It was really cold and much of the country last week like really cold thief. River falls, Minnesota recorded minus seventy seven Fahrenheit one night. But how can you measure the costs of extreme weather, Stacey Vanek Smith and Cardiff Garcia from planet. Money's the indicator podcast. Tell us what happens to the economy when it rains or hails or gets really cold outside North Dakota, South Dakota, Iowa and New Hampshire all saw temperatures in the negative double digits last week. The culprit the infamous polar vortex, basically a weather system that is usually above the North Pole came here to visit us in the US Andreas prion is a research scientists at the center for atmosphere IQ research, he studies extreme weather for a living. And he looks at the different impacts that the weather can have what is the economic effects of extreme weather. It's really. Big is climate change is causing more intense. Big storms like hurricanes, and these storms are more expensive than they used to be both because they're more intense. And also because there are more people moving to areas that are affected by extreme weather places, like New York and Florida the biggest economic factor in the US is coming from hurricane. So for example, if he talked to insurance industry they're most concerned about Atlantic hurricanes when they hit the east coast. Andrea says that seventeen of the twenty most expensive damaging cyclones we've had have occurred in the last twenty years. He says it hurricanes Katrina sandy Harvey and Maria all caused between roughly seventy billion and hundred and twenty five billion dollars each in damages.
"stacey vanek smith" Discussed on KQED Radio
"And by the listeners members and sustaining members of K Q E D, it's morning edition from NPR news. I'm Angel Martin. And I'm David Greene. Three of the most important economists in this country sat down for a panel at an economic conference in Atlanta last week, former fed chair, Ben banenky, Janet Yellen along with the current pitcher Jay Powell were talking shop and also talking about the latest jobs report, but his Cardiff Garcia and Stacey Vanek Smith from our planet money podcast, the indicator. Tell us a stellar jobs report is not always a good thing. It was a pretty stellar report. Three hundred twelve thousand jobs added in December strong wage growth. And of course, unemployment is still below four percent. And then here's Jay Powell's response. That's quite welcome. And also for me at this time does not raise concerns. About two high inflation does not raise concerns about to high inflation that seems like a weird comment to make right? We add it all these jobs. But that doesn't mean I'm worried about inflation. Yeah. But communists, discussed the relationship between unemployment and inflation all the time that relationship is sometimes referred to as the Phillips curve. And that's this idea that if enough people are working it will cause inflation that prices of the things that we buy we'll start going up, and according to the Phillips curve, the reverse is also true. So if unemployment goes up then inflation should come down because then companies don't have to raise wages to compete for workers. There's more workers out there who needed job, and we got kind of a test of this back in the late seventies and early eighties. Inflation seemed to be getting out of control prices were rising up and up and up and to get inflation under control, Paul Volcker. He was the head of the Federal Reserve at the time raised interest rates all the way to twenty percent by comparison, by the way, short-term interest rates right now. Now are two percent. But we'll Volker did lead to a week or Konami and unemployment went up all the way up to ten percents inflation, no did come down in. So everybody's wondering is chair Powell gonna worry about inflation? And is he then going to keep raising interest rates to prevent inflation from spiking higher for me. At this time does not raise concerns about to high inflation chair Palestine, even though unemployment is low and wage growth is rising. It doesn't necessarily mean that higher inflation will follow. So this relationship between inflation in jobs, even though the Phillips curve predicts it Powell's not really seen it yet. Let's curvy so busy.
"stacey vanek smith" Discussed on KQED Radio
"I'm Rachel Martin. And I'm David Greene. Three of the most important economists in this country, set down for a panel at an economic conference in Atlanta last week, former fed chair, Ben Bernanke, he and Janet Yellen along with the current pitcher Jay Powell were talking shop and also talking about the latest jobs report, but as Cardiff Garcia and Stacey Smith from our planet money podcast, the indicator. Tell us a stellar jobs report is not always a good thing. It was a pretty stellar report. Three hundred twelve thousand jobs added in December strong wage growth and. Of course, unemployment is still below four percent. And then here's Jay Powell's response. That's quite welcome. And also for me at this time does not raise concerns about to high inflation does not raise concerns about to high inflation that seems like a weird comment to make right? We add it all these jobs. But that doesn't mean I'm worried about inflation, but it communists, discussed a relationship between unemployment and inflation all the time that relationship is sometimes referred to as the Phillips curve. And that's this idea that if enough people are working, it will cause inflation the prices of the things that we buy will start going up, and according to the Phillips curve, the reverse is also true. So if unemployment goes up then inflation should come down because then companies don't have to raise wages to compete for workers. There's more workers out there who needed job, and we got kind of test of this back in the late seventies and early eighties. Inflation seemed to be getting out of control prices were rising up and up and up and get inflate. Under control, Paul car. He was the head of the Federal Reserve at the time raised interest rates all the way to twenty percent by comparison, by the way, short-term interest rates right now are two percent. But will Volker did lead to a week or economy and unemployment went up all the way up to ten percent inflation. No did come down. And so everybody's wondering is chair pal to worry about inflation and easy then gonna keep raising interest rates to prevent inflation from spiking higher for me. At this time does not raise concerns about to high inflation. Powell saying the even though unemployment is low and wage growth is rising. It doesn't necessarily mean that higher inflation will follow. So this relationship between inflation in jobs, even though the Phillips curve predicts it Powell's not really seen it. Let's curvy so NICKY Phillips curve dead to use a slaying, economic jargon. This is an indulgence phenomenon. Dodges phenomenon. Exactly, I was just thinking that basically what banenky saying is that the relationship between unemployment and inflation has changed people saw that the Federal Reserve would raise interest rates really high. If it needed to to bring inflation back down and ever since then inflation has stayed low. And here's the key people and companies act accordingly because if they worry that inflation was going to be much higher in the future. They would spend more money now and companies would raise prices to try to get ahead of the trend and that would contribute to inflation going higher right now. But that's not happening. What Ben Bernanke you saying is it precisely because of what the fed did in the past that the link between low unemployment and high inflation is weaker than it used to be. And that's the quote endogenous reason why the Phillips curve is so flat. So economists still strongly debate whether the Phillips curve is really dead or just resting. But if it is then it was possibly killed by the people in this room people with this job. Fed chair. Other words, it's indigenous. Stacey Vanek Smith Cardiff Garcia NPR news..
What's holding back Russia's economy?
"Put that into perspective that is slightly smaller than the economy of the state of Texas and about the size of New York state's economy. California's economy more than fifty percent bigger than the Russian economy. And in a lot of ways, it seems like Russia's economy should be a lot bigger than this, especially given some of its natural resources. Russia is one of the. Top three producers of oil in the world. It's one of the biggest producers of natural gas and it has huge reserves of nickel, aluminum, palladium, yes, rush again, be Biegel. Russia should be Sergei Alica Shanka is an economist with the Brookings Institution. He also served as the deputy chair of Russia's central Bank in the nineties and circuses to understand where Russia's economy is now, you're actually have to go back to the nineties Cold War had distended. It was a new chapter for Russia's economy. The transition from plan centralized socialist economy to a more open economy was wrenching in chaotic and full of cronyism and corruption. But eventually companies from all over the world did start coming into Russia, like Pepsi Dannon, BP, McDonald's, and starting row nineteen ninety nine. The Russian economy also started benefiting from oil prices which started going up and up and up and Russia's economy followed. This was just as a young ambitious official name. Vladimir Putin became the prime minister. The beginning of the twentieth century was maybe the best of the most successful period old Soviet Russia, economic history between nineteen ninety and two thousand eight Russia's economy tripled in size, and then the global financial crash happened Russia's economy tanked, and it's bounced around a lot since then. Now the Russian economy though is about the same size as it was a decade ago, did that's may be the most painful side of the story that Russian economy lost momentum. This momentum. Meanwhile countries like the US, Germany and China have recovered and grown since then. So what happened to Russia? Sergei says there are three major obstacles that have held Russia back from the global economic party. Of course, the major problem for the Russian economy was they declined oil. Prices. Oil is Russia's biggest industry by a mile. It's the government's biggest source of revenue. So when oil prices fell during the financial crash from a high of more than one hundred, four. Eighty seven dollars a barrel to about thirty dollars a barrel. It devastated Russia's economy. An oil prices have fluctuated a lot in the time since and they are pretty high right now, but selling oil has gotten more complicated for Russia which brings us to the second reason that Sergei says that Russia's economy has stalled, wisdom, sanctions below, can access to financial markets and imposing something on foreign direct investment going to Russia western sanctions. These were put in place in two thousand fourteen after Russia invaded Ukraine. The US and other western nations tried to get Russia to pull out of Ukraine by blocking it from doing business with many foreign companies. Putin refused to negotiate the sanction state in place for the last four years. Russia has been cut off from a lot of foreign trade and investment investment. These, like if you'll for your car, if you have fuel, you may dry. Your engine will walk. If you have no investment, economic will grow. But circa says the biggest thing holding back. Russia's economy is not oil prices or even sanctions. It's something a lot closer to home elect of pro property right protection, a lack of proper property right protections. Sergei says this makes doing business in Russia, very uncertain. Even for Russians, you might have thriving business doing really well and making lots of sales, and the state could just take it or someone with connections could just take it and there's not that much you can do. So it's it's worries about corruption that it's actually these corruption is only
What’s the Yield Curve? ‘A Powerful Signal of Recessions’ Has Wall Street’s Attention
"Showers and thunderstorms are likely for the new york city area today some of the storms could produce gusty winds heavy rain and frequent lightening highs near eighty five degrees but then clearing tonight and it goes down to around sixty five degrees in a beautiful weekend tomorrow saturday sunny highs near seventy seven degrees and then on sunday it'll be sunny with a high near eighty three degrees right now seventy seven degrees light rain falling in new york city from wnyc this is money talking on charlie herman recently it seems there's been an increase in people talking about this thing called the yield curve yield you'll curve wonderful yield curve the socalled inverted yield curve likes unless you work in finance you may be asking yourself what in the world are they talking about and do i really care well the answer is yes you should because this economic indicator has for decades predicted recessions and right now while we all should be paying attention and i have the perfect people to explain to you just what the yield curve is i'm stacey vanek smith and i'm cardiff garcia there the co host of npr's the indicator from planet money in cardiff would it be saying bit too much that you're kind of obsessed with the yield curve now i believe the question is directed at me amazing indicators so important here's the deal it's possible that you can say that i'm obsessed with the yield curve but the better question you should be asking yourself charlie is why isn't everybody else obsessed with the yield curve is a phenomenal economic indicator in one that i think has gone underrated for far too long okay but what exactly are we talking about here it's interest rates but it has to do with a very specific type dealing with government debt that's exactly right so these are interest rates on government debt that debt is also referred to sometimes as treasuries the government can issue this debt with different maturity and that just has to do with how long it takes for the government.