Planet Money Folgen

Donald Trump is just about to begin his second presidency. And it may be safe to say that every single person in America has at least one question about what's to come in the next four years.So, we thought we'd try to answer your questions — as best we can — about the economics of a second Trump term. Is now the time to shop for new tech? Can Trump actually bring down grocery and oil prices? And, does the president have the power to get rid of NPR?This episode of Planet Money was hosted by Amanda Aronczyk. It was produced by Emma Peaslee and edited by Meg Cramer. It was engineered by Neil Tevault and fact-checked by Sierra Juarez. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

(Note: This episode originally ran in 2018.)Is it really cheaper to shop at an airport Duty Free store? And why are so many of them alike?In the 1940s, if you were flying from New York City to London or Paris you would find yourself making a pit stop for fuel on the western coast of Ireland. The Shannon airport at the time wasn't much to look at, but the passengers arriving there were movie stars and celebrities, basically the super rich. And the people of Shannon realized pretty quickly that they needed to upgrade the local amenities for their wealthy clientele. They hired a man named Brendan O'Regan to make it happen. Being the quick-thinking entrepreneur that he was, O'Regan convinced the Irish government to create a tax loophole. And thus, duty free stores were born. Today on the show, we follow the surprising origin of duty free, and try to answer the question: Are they really saving you any money?Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

You know Watergate, but do you know Fedgate? The more subtle scandal with more monetary policy and, arguably, much higher stakes.In today's episode, we listen back through the Nixon White House tapes to search for evidence of an alarming chapter in American economic history: When the President of the United States seemingly flouted the norms of Fed Independence in order to pressure the Chair of the Federal Reserve Board into decisions that were economically bad in the long run but good for Nixon's upcoming election.The tale of Nixon and his Fed Chair, Arthur Burns, has become the cautionary tale about why Fed Independence matters. That choice may have started a decade of catastrophic inflation. And Burns' story is now being invoked as President-elect Trump has explicitly said he'd like more control over the Federal Reserve.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy