Stacey Vanek Smith

Stacey Vanek Smith is the co-host of NPR's The Indicator from Planet Money. She's also a correspondent for Planet Money, where she covers business and economics. In this role, Smith has followed economic stories down the muddy back roads of Oklahoma to buy 100 barrels of oil; flew to Pune, India, to track down the man who pitched the country's dramatic currency devaluation to the prime minister; and spoke with a North Korean woman who made a small fortune smuggling artificial sweetener in from China.

Prior to coming to NPR, Smith worked for Marketplace, where she was a correspondent and fill-in host. While there, Smith was part of a collaboration with The New York Times, where she explored the relationship between money and marriage. She was also part of Marketplace's live shows, where she produced a series of pieces on getting her data mined.

Smith is a native of Idaho and grew up working on her parents' cattle ranch. She is a graduate of Princeton University, where she earned a bachelor's degree in comparative literature and creative writing. She also holds a master's in broadcast journalism from Columbia University.

Tim Harford is the author of 'Fifty Inventions that Shaped the Modern Economy." We play overrated/underrated with Tim. We ask him about inventions like the light bulb and the iPhone as well as messy desks and everyone's favorite summer invention: the air conditioner.

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

ARI SHAPIRO, HOST:

Campbell Harvey is a finance professor at Duke University. Back in the mid-1980s, when he was working on his PhD thesis, scholars were scrutinizing different markets for evidence that they could predict economic growth.

When demand for a commodity is high and supply is low, providers usually just raise the price. That pushes demand down. But when that commodity is water - an essential for human life - those pricing rules don't apply. Or do they?

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Five labor market indicators, one minute each. They are:

1) This year, the average number of jobs added to the economy each month has been 215,000, an increase on last year's average of 182,000.

2) The share of adults between the ages of 25 and 54 with a job is now 79.5 percent.

3) The manufacturing sector has added 327,000 jobs in the past year, which represents a faster pace of job creation than the overall economy — a reversal of the trend from a few years ago.

4) The unemployment rate for high school graduates with no college experience has fallen to 4%.

In recent decades, income inequality in the United States has been climbing. Scholars and pundits argue about what causes the trend and how problematic it is, but they largely agree that it has happened.

But has the rise in income inequality between rich and poor also been accompanied by a widening cultural distance between the two groups? A new working paper from Marianne Bertrand and Emir Kamenica investigates the question. And its approach to answering it is amost as interesting as what it found. On today's show, we discuss it with Emir.

Tariffs have been dominating the economic news this summer. President Donald Trump has announced new import taxes on goods coming from China, Europe, Mexico and Canada. But what happens then? Today on the show, Stacey and Cardiff go into the belly of the beast: in Newark, New Jersey.

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The pace of wage growth is one of the best indicators of economic health. But wage growth can be measured using a number of different methods. Each method has strengths and weaknesses, and each method tells a slightly different story about how the economy, and the labor market, is doing.

We speak with economist Ernie Tedeschi, who suggests three different measures of wage growth that we should all be tracking. In chart form, they are:

1. Average Hourly Earnings for all private sector workers:

No question, Russia is a formidable force in the global political arena. But its economy is smaller than the economy of Texas. Russia's economy was growing like crazy between 1999 and 2008. But it's about the same size now as it was at the end of the Great Recession. Today on the show, we look at what's been holding back Russia's economy.

GDP, OMG!

Jul 27, 2018

The gross domestic product is a measure of all the goods and services an economy produces. For the second quarter of this year, the U.S. economy grew at a stellar rate of 4.1%. Today on the show, we take a deep dive into everybody's favorite economic indicator: How is it measured? Why is it so high? Will it continue?

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