Make Me Smart

A group of lawmakers have introduced legislation that would break up health care conglomerates, aiming to rein in the power of pharmacy benefit managers. We’ll explain what PBMs do and why all sides of the health care industry are pointing fingers at one another over high costs. And, we’ll get into how the future of the Trump-era tax cuts could impact the federal deficit and why General Motors is ditching its robotaxi business. Plus, now’s your chance to talk with an AI Santa Claus. Here’s everything we talked about today: “Yellen Talks Russia Sanctions, Tariffs and Deficit” from Bloomberg via YouTube “Yellen says Trump’s tariffs could derail US inflation progress, raise costs” from Reuters “Senators Warren and Hawley introduce a bipartisan bill to break up pharmacy-benefit managers” from CNBC via YouTube “Elizabeth Warren, Josh Hawley Co-Sponsor Bill to Break Up Giant Health Care Conglomerates” from The New York Times “What is a pharmacy benefit manager, anyway?” from Marketplace “GM to stop funding troubled Cruise autonomous vehicle unit, abandoning robotaxis” from CBS San Francisco “GM to Shut Down Its Cruise Robotaxi Project” from The New York Times “OpenAI introduces ‘Santa Mode’ to ChatGPT for ho-ho-ho voice chats” from Ars Technica Tomorrow is our last episode of the year! Join us for our annual holiday party on “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

Some states are trying to lure companies seeking to move their headquarters by offering a slew of financial perks. We’ll explain how these big relocations can impact local economies and the businesses themselves. And, the House of Representatives passed a defense bill that would restrict transgender medical care for children covered by the military’s health program. We’ll unpack how federal funding for health care can be used as a powerful political tool. Plus, do you dread winter? We’ll get into some tips for embracing the season. Here’s everything we talked about today: “Transgender Provision Injects Tension Into Defense Vote” from The Wall Street Journal “Will Democrats Let the GOP Gut Trans Health Care?” from Rolling Stone “Brace for a Nationwide Shuffle of Corporate Headquarters” from Bloomberg “9 Ways to Embrace Winter — Even if You Think You Hate It” from Time “New Jersey Politician Fakes Spotify Wrapped to Show All Springsteen Songs” from The New York Times We love to hear from you. Email us at makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Before this year’s election, Heather Cox Richardson, a historian at Boston College, joined “Make Me Smart” live in Boston to unpack the high stakes for our economy and democracy. Now that the election is over and the transition to a second Donald Trump administration is underway, we’re following up. On the show today, Richardson weighs in on the election aftermath. She explains how the current media environment in the United States played into the election, how economic narratives have influenced American politics throughout history, and what the past can tell us about how President-elect Trump might brand his economic agenda while in office. Then, we’ll get into the bipartisan effort to add federal judges that’s suddenly falling apart. And, author Evan Schwartz was wrong about the inspiration behind L. Frank Baum’s “The Wonderful Wizard of Oz.” Here’s everything we talked about today: “December 9, 2024” from “Letters from an American” “What Donald Trump’s Win Means for the Economy” from Time Opinion: “Voters prefer Harris’s agenda to Trump’s — they just don’t realize it. Take our quiz.” from The Washington Post “On Issue After Issue, Trump Promises the Moon. No Word on the Rocket.” from The New York Times “Biden special envoy for hostages is in Beirut in search of Austin Tice” from The Washington Post “House sets up vote on bill to add dozens of new federal judgeships” from Roll Call “Ernst, Under MAGA Pressure, Signals Backing for Hegseth’s Pentagon Bid” from The New York Times Power the show with a donation today and don’t forget to pick up one of our thank you gifts at a discount. Head to marketplace.org/givesmart.

A person of interest in the killing of UnitedHealthcare Chief Executive Brian Thompson was arrested today. We’ll get into the public’s reaction to the killing and what it says about our for-profit health system. Plus, we discuss the largest intergenerational wealth transfer in U.S. history, which is projected to take place over the next 25 years. And, Dick Van Dyke has us smiling as he waltzes into his 99th birthday. Here’s everything we talked about today: “Live Updates: Police Identify ‘Strong Person of Interest’ in C.E.O.’s Killing” from The New York Times “Suspect in fatal shooting of UnitedHealthcare CEO Brian Thompson ID’d as Luigi Mangione, an ex-Ivy League student” from New York Post “Manhunt for UnitedHealthcare CEO Killer Meets Unexpected Obstacle: Sympathy for the Gunman” from The Wall Street Journal “A $105 Trillion Inheritance Windfall Is On the Way for US Heirs” from Bloomberg “Dick Van Dyke, Approaching 99, Dances in Coldplay’s Latest Video” from The New York Times “Biden says U.S. government believes Austin Tice is alive in Syria” from Axios We love to hear from you. Email us at makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

NASA is pushing back its highly anticipated Artemis 2 mission from September 2025 to April 2026. It will be the first crewed mission to the moon since 1972. We’ll unpack NASA’s setbacks. Plus, momentum is building for a TikTok ban. And the hosts share their thoughts on the word of the year in a round of Half Full / Half Empty! Here’s everything we talked about today: “NASA delays Artemis 2 moon mission to 2026, Artemis 3 astronaut landing to mid-2027” from Space “Trump Defends His Imperiled Pick for Defense Secretary, Pete Hegseth” from The New York Times “Appeals court upholds nationwide TikTok ban-or-sale law” from The Washington Post “TikTok advertisers stay put after US appeals court upholds law forcing sale” from Reuters “Bitcoin mining surge strains energy grids as miners make a fortune” from Marketplace “OpenAI is charging $200 a month for an exclusive version of its o1 ‘reasoning’ model” from The Verge “50% off! Cyber Monday deal today only! (Kidding!)” from Marketplace “Dolly Parton launches search for actors to play her in a new Broadway musical” from USA Today “‘Brain rot’ is the Oxford University Press word of the year” from AP News We love to hear from you. Email us at makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

This year, Spotify’s popular Wrapped feature includes a podcast generated by artificial intelligence that tells users all about their individual listening habits from 2024. But it’s not perfect — at least not yet. We’ll get into it. And, we’ll explain how Amazon is getting into the AI chip game and what Federal Reserve Chair Jerome Powell anticipates from a second Trump administration. Plus, why talks for a global treaty to manage plastic pollution were a bust. Here’s everything we talked about today: “Nvidia Rules A.I. Chips, but Amazon and AMD Emerge as Contenders” from The New York Times “Amazon Announces Supercomputer, New Server Powered by Homegrown AI Chips” from The Wall Street Journal “Powell: Fed’s independence from politics is vital to its interest rate decisions” from AP News “In a 2nd Trump term, Fed independence would go “out the window,” economist says” from Marketplace “Climate activist calls for plastic treaty after UN summit failure” from Reuters “Nations Fail to Reach an Agreement on Plastic Pollution” from The New York Times “Spotify Wrapped 2024 adds an AI podcast powered by Google’s NotebookLM” from TechCrunch Join us tomorrow for Economics on Tap. The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

President Joe Biden today announced an additional $600 million investment in a rail project that will connect multiple African countries. It will expand U.S. access to important minerals like cobalt and copper. But will it be enough to counter China’s dominance over the critical minerals supply chain? We’ll get into it. Plus, why President-elect Donald Trump’s trade adviser pick is giving us serious deja vu. And, Dylan Bachelet, the “Jack Sparrow” of “The Great British Baking Show,” is making us smile. Here’s everything we talked about today: “Biden in Africa pledges millions more for a rail project the US hopes will boost its influence there” from AP News “Biden Hopes Train Project in Angola Defines Africa Legacy” from The New York Times “Trump picks Peter Navarro as top trade advisor” from CNBC “Q&A With Dylan Bachelet of ‘Great British Baking Show’” from The New York Times If you haven’t made your gift to “Make Me Smart” yet, there’s still time! Make your donation here.

Billionaire families contributed roughly 18% of all money raised during the 2024 election cycle. And many of those mega donors are being tapped for high-level positions in the incoming Donald Trump administration. This begs the question: Is the U.S. government controlled by the ultra rich? David Sirota, founder and editor in chief of The Lever, said he believes the U.S. resembles an oligarchy. On the show today, Sirota explains how the erosion of campaign finance regulations has created a culture in which big money in politics is normalized. Then, we’ll get into China’s latest move in the ongoing chip trade war with the United States. Plus, what’s the correct way to pronounce “pecan”? Here’s everything we talked about today: “Election 2024: How Billionaire Avengers Destroyed Democracy” from The Lever “What’s different about billionaire donor Elon Musk’s relationship with Trump” from Vox “How billionaires are influencing the 2024 U.S. election” from Axios “Battle of the billionaires: the mega rich spending to swing the US election” from Financial Times “Remember that study saying America is an oligarchy? 3 rebuttals say it’s wrong.” from Vox “China bans export of critical minerals to US as trade tensions escalate” from Reuters “SpaceX Weighs Tender Offer Raising Valuation to $350 Billion” from Bloomberg “​​Yes We Pecan, with Martha Stewart” from NPR It’s Giving Tuesday! Your donation will be matched today when you support Marketplace.    

Nine of the Federal Reserve’s 12 reserve banks are on the Mississippi River or east of it. One former Fed official says it’s caused the central bank to disproportionately reflect the interests of the eastern United States. We’ll get into it. And, we’ll unpack how some businesses are pushing consumers to shop now in anticipation of potential tariffs under the incoming Donald Trump administration. Plus, we’ll smile about one runner’s 700-mile quest to create art on the GPS-tracking app Strava. Here’s everything we talked about today: “The Fed tilts toward the eastern U.S. It’s time to change that.” [gift link] from The Washington Post “Now is the time to prepare for tariffs” from The Hill “Tariffs and you: What products will cost more, when prices will rise, and what to buy now” from USA Today “Buy Now Before Tariffs Hit, Retailers Are Telling Shoppers” from The Wall Street Journal “Man ran 700 miles to make ‘insanely impressive’ art on GPS fitness app” [gift link] from The Washington Post “Why not enlist an army of volunteer retirees?” from The Washington Post “Do Your Passwords Meet the Proposed New Federal Guidelines?” from The Wall Street Journal We love to hear from you. Email us at makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

As many Americans prepare to celebrate Thanksgiving with their friends and families, gratitude is top of mind. We’ll break down research that shows how individual acts of kindness and connection can have large-scale impact. And, we’ll discuss a poignant firsthand account of an award-winning journalist experiencing homelessness. Plus, we’ll get into why the Justice Department isn’t satisfied with the National Association of Realtors commission lawsuit settlement, and why parking lots will be the new hot spot for solar energy in France. Here’s everything we talked about today: “‘The DOJ is coming for NAR’: What’s next after the $418M settlement?” from HousingWire “The Invisible Man” from Esquire “An upward spiral – how small acts of kindness and connection really can change the world, according to psychology research” from The Conversation “Solar installations are now mandatory for large parking lots in France” from The Progress Playbook Let us know what you’re thankful for. Email us at makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

This week, Black Friday kicks off the traditional holiday shopping season. But have you ever wondered about the origins of the shopping frenzy on the day after Thanksgiving? The little ones in your life may be wondering about that too. Today, we’re bringing you a special crossover episode from the latest season of Marketplace kids podcast “Million Bazillion.” Bridget and Ryan team up with the hosts of “Forever Ago” to explain Black Friday and what it has to do with a football game in Philadelphia. Plus, they share tips on how to shop smarter during the holiday season. We love to hear from you. Email us at makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Negotiators at the 2024 United Nations Climate Change Conference, or COP29, agreed on wealthy nations providing up to $300 billion a year to help poorer countries deal with the effects of climate change. We discuss the deal falling short of the $1.3 trillion poorer countries asked for. Then, we talk about how Tesla’s pollution violations could weaken the company’s eco-friendly image. And, we look at the costly Arizona program heralded by school choice advocates as a taxpayer-supported way to opt out of public schools. Plus, U.S. farm groups are preparing for possible mass deportations under the incoming Trump administration. Finally, we’ll smile at an A.I.-generated granny as an unlikely hero to combat phone scams. Here’s everything we talked about today: “As Musk Assumes Deregulation Role, Tesla Racks Up Pollution Violations” from The Wall Street Journal “Developing nations blast $300 billion COP29 climate deal as insufficient” from Reuters “No-Limit Vouchers Are Blowing Up Arizona’s Budget. This Woman Is Leading the Way”  from Politico “US farm groups want Trump to spare their workers from deportation” from Reuters “An A.I. Granny Is Phone Scammers’ Worst Nightmare” from The New York Times “Giving thanks may make your brain more altruistic” from Vox “The Case for Being Ungrateful” from The Wall Street Journal We love to hear from you. Email us at makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

The National Women’s Soccer League is in the final stages of adding its 16th team. We’ll explain what it can tell us about the rise of the women’s sports industry. And, the Supreme Court will review the funding model of a federal program that subsidizes internet and phone services in low-income areas of the country. Plus, we’ll weigh in on condiments and pie during a Thanksgiving-themed game of This or That! Here’s everything we talked about today: “NWSL expansion: Cincinnati, Cleveland, Denver final options” from ESPN “Denver named finalist for National Women’s Soccer League expansion team alongside Cincinnati, Cleveland” from The Denver Post “Homes With Low Natural Disaster Risk Are Rising in Value Faster Than Homes With High Risk for the First Time in Over a Decade” from Redfin “Supreme Court steps into fight over FCC’s $8 billion subsidies for internet and phone services” from AP News “Supreme Court takes up dispute over FCC fund that subsidizes telecom services in rural areas” from CBS News We love to hear from you. Email us at makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

President-elect Donald Trump tapped Cantor Fitzgerald CEO Howard Lutnick as his choice for Secretary of Commerce this week. We’ll get into why the role could be critical to the incoming Trump administration, which has vowed to enact sweeping tariffs. Then, we’ll explain why earnings at big-box retailers like Target and Walmart have been mixed ahead of the holiday season, and how the Justice Department wants to shakeup Google’s monopoly over the online search market. Plus, why is Bitcoin on a record-breaking streak? Here’s everything we talked about today: “Trump picks Lutnick to be Commerce secretary” from CNN “Who will lead the Commerce Department?” from Marketplace “Target’s Stock Plunges 21% on Weak Sales Ahead of Holiday Season” from The New York Times “A tale of two retailers: Target reports sluggish spending while Walmart has a stellar quarter” from The Associated Press “DOJ says Google must sell Chrome to crack open its search monopoly” from The Verge “Bitcoin hits fresh record, marches toward $100,000 as rally continues” from CNBC Join us tomorrow for Economics on Tap. The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

Comcast said it plans to turn its cable networks, including CNBC and MSNBC, into a new, separate company. We’ll get into why it could be a sign of what’s to come in the media industry. And, the Joe Biden administration is shifting into overdrive trying to spend money intended to boost microchip manufacturing before President-elect Donald Trump returns to office. Plus, we’ll smile about breakthroughs in automatic braking technology and a new version of chess that’s pushing the game forward. Here’s everything we talked about today: “Comcast to Spin Off MSNBC, CNBC and Other Cable Networks” from The New York Times “It’s Official! Comcast To Spin Off Cable Networks, Sees New Standalone Company A ‘Partner And Acquirer’ Of Media Assets” from Deadline “Raimondo’s new mission: Leave no cash for Trump” from Politico “Automatic Braking Systems Save Lives. Now They’ll Need to Work at 62 MPH” from Wired “The Greatest Chess Player of All Time Is Bored With Chess” from The Wall Street Journal We love to hear from you. Email us at makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Today we’re talking about American exceptionalism: the idea that the United States is a uniquely virtuous nation and a “shining city on a hill.” It’s a belief that’s long shaped how the U.S. acts on the global stage and how Americans see themselves, the economy and democracy. In the aftermath of the U.S. presidential election, many Americans are questioning the idea of exceptionalism. Journalist Suzy Hansen challenges the notion of American exceptionalism in her book “Notes on a Foreign Country: An American Abroad in a Post-American World.” On the show today, she explains where the idea of American exceptionalism comes from, how it has shaped today’s world, and why many Americans are disillusioned with it. Plus, is a new version of national pride the answer to the pitfalls of American exceptionalism? Then, we’ll get into the creative ways the European Union is preparing for President-elect Donald Trump’s promised tariffs. Plus, perspectives from an American abroad and thoughts on mandatory national service. Here’s everything we talked about today: “Unlearning the myth of American innocence” from The Guardian “Opinion | Is America a City on a Hill or a Nation on the Precipice?” from The New York Times “The End of American Exceptionalism: Trump’s Reelection Will Redefine U.S. Power” from Foreign Affairs “American Exceptionalism Is a Dangerous Myth” from Intelligencer “The US is leaving millions behind: American exceptionalism needs to change by 2030” from The Brookings Institution “Democrats look at late-night, weekend votes to confirm last Biden judicial nominees” from The Hill “Locked and loaded? The EU weapons to fight Trump’s trade war.” from Politico “Oil Glut Set to Thwart Trump’s Call to ‘Frack, Frack, Frack’” from Bloomberg We love to hear from you. Email us at makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Some critics of President-elect Donald Trump are preparing for the possibility of being prosecuted when he takes office. We’ll discuss Trump’s “retribution” agenda. Then, we’ll get into his pick to lead the Federal Communications Commission. Plus, what a meeting between “Morning Joe” hosts and Trump represents about access to information during the next administration. And, we’ll smile at the woman behind the curtain who inspired the “Wicked” lore. Here’s everything we talked about today: “Morning Joe’ Hosts Reveal Meeting With Trump at Mar-a-Lago” from The New York Times “Brendan Carr wrote the FCC chapter in ‘Project 2025.’ Now he’s Trump’s pick for the agency” from CNN Business “DoJ and FBI officials consult lawyers amid threats of Trump legal retribution | Trump administration” from The Guardian “Go bags, passports, foreign assets: Preparing to be a target of Trump’s revenge” from The Washington Post “The Feminist Who Inspired the Witches of Oz” from Smithsonian Magazine We love to hear from you. Email us at makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

The United States is on a mission to revitalize its chip manufacturing industry by giving billions in grants and loans to companies including Intel. But mistakes have cost Intel the opportunity to lead in artificial intelligence. Guest host Sabri Ben-Achour explains how the company fell behind. And, President-elect Donald Trump tapped Robert F. Kennedy Jr. to lead the Department of Health and Human Services. The agency is responsible for more than you might think. Plus, we’ll play a round of Half Full/Half Empty! Here’s everything we talked about today: “What to know about HHS and how RFK Jr. could lead it” from Axios “The Anti-Fluoride Movement Vaults Into the Mainstream” from The New York Times “The Great American Microchip Mobilization” from Wired “Satire publication The Onion buys Alex Jones’ Infowars at auction with Sandy Hook families’ backing” from AP News “The Great Migration to Bluesky Gives Me Hope for the Future of the Internet” from 404 Media “Want to Network in Silicon Valley? Bring a Bathing Suit” from The Wall Street Journal “Good-bye to the Broker Fee” from Curbed “Americans Are Hoarding Their Friends” from The Atlantic We love to hear from you. Email us at makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Over the course of his campaign, President-elect Donald Trump made a lot of promises. What does that mean for the years ahead? Today we’re answering your questions about Trump’s second term. We’ll explain whether the Trump administration could actually eliminate the Department of Education, how income tax cuts for tips and overtime pay could impact the economy, and where the Biden administration’s student debt relief plans go from here. Plus, if not tariffs, then what? Here’s everything we talked about today: “Could Trump actually get rid of the Department of Education?” from Vox “Is It Possible for Trump to Shut the Department of Education?” from The New York Times “Donald Trump Tax Plan Ideas: Details and Analysis” from the Tax Foundation “Both Harris and Trump want to eliminate federal taxes on tips” from Marketplace “As the election nears, Biden’s student debt agenda is in tatters. Will it hurt Harris?” from USA Today “What a Trump presidency might mean for student loan forgiveness” from NPR “As Trump Threatens a Wider Trade War, the U.S. Confronts a Changed China” from The New York Times “Why Alternatives To Tariffs Can Be More Effective” from NPR “Nontariff Barrier: Definition, How It Works, Types, and Examples” from Investopedia Heads up: Tomorrow’s “Economics on Tap” episode won’t be livestreamed on our YouTube channel. But you can still listen wherever you get your podcasts.

President Biden’s hallmark Inflation Reduction Act set aside nearly $150 billion for various climate projects. But not all of that money has been spent, and President-elect Trump has vowed to take it back. The question, is how much money is leftover? Kimberly explains why it’s taken years to get the money out the door. Plus, we’ll unpack some gains in women’s sports and wage growth. Here’s everything we talked about today: “Carbon emissions from fossil fuels hit record highs in 2024: report” from Axios “Dreaming of snow this winter? Look up the forecast in your area.” from The Washington Post “Fossil fuel CO2 emissions increase again in 2024” from the Global Carbon Project “The mystery number that’s key to whether Biden’s spending survives” from Politico “Women’s baseball players could soon have a league of their own again” from AP News Tweet from The Washington Post’s Heather Long about wage growth Got a question for the hosts about the election, Trump’s next presidency and the U.S. economy? Email us at makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.