Platypus Economics with Justin Wolfers

Platypus Economics

From world events to everyday decisions, economics explains it all. Platypus Economics makes it clear, useful, and actually fun.

  1. 1d ago

    How Early Access to Trump’s Truths Will Drain Ordinary Investors | Diving In

    Justin unpacks the new $100,000-a-year Truth Social API—a special "pipe" that will allow the president's posts to hit Wall Street computers a second or so before the rest of us see them. In this episode of Diving In, he explains why one second is an eternity for a high-frequency trading computer: it can read a post announcing a strike on Iran, figure out what it means for markets, and sell before the news reaches your phone. Justin lays out three problems. It's bad for democracy — a decision your taxes paid for gets sold to whoever writes a six-figure check, to a company in which President Trump is a major shareholder. It's corrupt on its face — the president is monetizing information he holds only because he works for you. And it's bad economics: once you know some traders have paid for an edge (remember teleprompter guy?), you stop wanting to trade at all, and markets that run on trust start to wither. At the end of the day, those Wall Street firms will get rich, and that money has to come from somewhere. And if you're not the one with the early feed, it's probably coming from your retirement account. (A confession: I think that I said that users pay the President's company $100,000 per year. I've subsequently read the price is $100,000 per month. So it's still a problem, but 12 times larger.) Subscribe on YouTube 👉 https://youtube.com/platypuseconomicsSubscribe on Substack 👉 https://newsletter.platypuseconomics.com Follow on Social Media @PlatypusEconomics and @JustinWolfers See omnystudio.com/listener for privacy information.

  2. 2d ago

    What Victorian Bootmakers Can Teach Us About The Future of Work | Diving In

    When the CEO of Anthropic warns AI could wipe out half of all entry-level white-collar jobs, it's easy to picture the destruction. Justin Wolfers wants you to picture the other half of the story. In this episode of Diving In, he uses a carefully researched study of Victorian bootmaking — where a labor-saving sewing machine let each worker make four times as many boots — to show how a technology can completely remake an industry while total employment barely moves. The numbers are almost eerie: about 220,000 bootmakers in 1851, and 213,000 in 1911. Yet beneath that calm surface, nearly everything changed. Cheaper boots meant more boots (that's Jevons paradox), old craft occupations vanished, and an almost identical number of new factory jobs appeared — in new places, done by the next generation. The incumbents mostly got to retire in their old trade. None of this predicts what AI will do to your job. But it widens the range of outcomes you should take seriously, and it flags the one thing that may matter most: the pace of change. If AI moves slowly, the creative side of creative destruction has time to arrive. If it moves fast, that gentler adjustment gets much harder. Either way, it’s important to also ask what gets created, not just what gets destroyed. Subscribe on YouTube 👉 https://youtube.com/platypuseconomicsSubscribe on Substack 👉 https://newsletter.platypuseconomics.com Follow on Social Media @PlatypusEconomics and @JustinWolfers See omnystudio.com/listener for privacy information.

  3. 6d ago

    How SNAP's New Rules Make Eligible Families Go Hungry | The Professor Is In

    Recent changes to SNAP quietly cut food assistance from 4 million Americans — 1.5 million of them children (plus elderly, disabled, and other eligible recipients who were never the intended target). In this follow-up to his earlier video Diving In to SNAP cuts, Justin Wolfers answers follow-up questions and explains how the policy actually plays out for real people. Justin walks through why administrative burdens do so much damage: when it's harder to apply, appeal, or bring in paperwork, the people who fall off are often the ones who need help the most. He unpacks the state incentives too: tell caseworkers to reduce payment errors but say nothing about wrongful denials, states get cautious and just boot folks off. And because states run balanced budgets, shifting SNAP costs to them breaks its role as an automatic stabilizer — in the next recession, when more people need food, spending will fall exactly when it should rise. The stakes are personal. That $6-a-day benefit is groceries for a neighbor, a kid at your child's school, a friend going through a divorce whose income just cratered. And Justin's argues that if Americans understood who's losing help and why, they might feel differently about it. Six Dollars a Day Is Disappearing For Millions: https://omny.fm/shows/platypus-economics/the-biggest-economic-story-nobodys-talking-about-diving-in 🔒 Get 20% off DeleteMe by going to https://joindeleteme.com/WOLFERS and use code WOLFERS to protect your privacy! 🙌 Subscribe on YouTube 👉 https://youtube.com/platypuseconomicsSubscribe on Substack 👉 https://newsletter.platypuseconomics.com Follow on Social Media @PlatypusEconomics and @JustinWolfers See omnystudio.com/listener for privacy information.

  4. Jul 29

    The Lawyer’s Theory of Trade | Diving In

    Donald Trump's trade representative Jamison Greer thinks about trade like a litigator: clients, injuries, bad actors, and remedies. Justin Wolfers takes Greer's own words from his recent interview with The Daily and shows why that worldview rests on muddled thinking about what trade actually is — and why it ends up costing you. In this Diving In episode, Justin lays out the tells and discusses the bottom line. The numbers are blunt: New York Fed research finds roughly 90% of the tariff burden falls on U.S. firms and consumers, and low-income households bear a disproportionate share. Census data shows imports from China fell — but rose nearly one-for-one from the rest of the region. A lot of trade just changed addresses. By the end you'll have a portable BS detector for any trade argument — from Trump, Vance, Greer, or your uncle at Thanksgiving. The Daily Episode With Jamieson Greer: https://www.nytimes.com/2026/07/20/podcasts/the-daily/more-trump-tariffs-are-coming.html  🔒 Get 20% off DeleteMe by going to https://joindeleteme.com/WOLFERS and use code WOLFERS to protect your privacy! 🙌 Subscribe on YouTube 👉 https://youtube.com/platypuseconomicsSubscribe on Substack 👉 https://newsletter.platypuseconomics.com Follow on Social Media @PlatypusEconomics and @JustinWolfers One more thing: When I create these videos, I often crunch a few numbers in Stata, with whom I’ve got a paid partnership. Today, I used it to explore our trade relationship with China and the eleven members of ASEAN.  Click through here: https://platypuseconomics.com/stata/trading_places_worksheet_6.pdf and you can work through the steps I followed, and build your statistical mastery. See omnystudio.com/listener for privacy information.

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From world events to everyday decisions, economics explains it all. Platypus Economics makes it clear, useful, and actually fun.

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