What are taxes and tariffs?

In the United States, voters in each state elect a governor every two or four year terms. The governor is the top official in the state government. But did you know five U.S. states also elect a Kid Governor? It’s a part of a civics education program that helps kids learn about d ...  Show more

Some questions are so big they’re existential, meaning that they get right to the heart of human existence. These are also sometimes called philosophical questions, so for this episode we called up a professor of philosophy, Scott Hershovitz, who teaches at the University of Mich ...  Show more

Everything is getting more expensive, and it’s not just inflation. The U.S. just slapped massive tariffs on Mexico, Canada, and China, and that means your grocery bill, your next car, and even your favorite bottle of tequila are all about to cost way more. But why is this happeni ...  Show more

Notes from James:

I’ve been seeing a ton of misinformation lately about tariffs and inflation, so I had to set the record straight. People assume tariffs drive prices up across the board, but that’s just not how economics works. Inflation happens when m ...

The White House's chief economist, Stephen Miran, believes that tariff increases will not have a lasting impact on US inflation, citing the limited effect of imports on the economy. “Imports are only 14% of the economy — the ability of those types of things to move the needle on ...  Show more

What happens when lots of people lose their jobs? Why might wages be low even though everyone who wants a job, has one? What do we mean by employment and unemployment and what does 'economic inactivity' mean? What is productivity and how does it relate to you and your job? Tim Ha ...  Show more