Planet Money

Pre-order the Planet Money book here for your free gift. [http://planetmoneybook.com]  Our sister show, The Indicator, is chronicling the evolving business of crime for its Vice Week [https://www.npr.org/2025/10/05/nx-s1-5561958/vice-series-the-evolving-business-of-crime] series. Today, we bring to you two cases of crime in the age of AI.  First, cybercriminals are using our own voices against us. Audio deepfake scams are picking up against individuals but also against businesses. We hear from a bank on how they’re adapting defenses, and find out how the new defenses are a game of AI vs AI.  Then, we move over to the stock market to witness AI market manipulation. A new breed of trading bots behave differently. They could collude with each other, even without human involvement or instruction, so researchers are asking how to think about blame, and regulation in a world of more sophisticated trading bots. That’s assuming regulators could even keep up with the tech in the first place.  Indicator Vice Series  Head to The Indicator from Planet Money [https://podcasts.apple.com/us/podcast/the-indicator-from-planet-money/id1320118593] podcast feed for the latest on the Indicator Vice Series including an episode on data breaches [https://www.npr.org/2025/10/07/nx-s1-5563884/whats-supercharging-data-breaches] . If you don’t already subscribe, check it out. Each episode explains one slice of the economy connected to the news recently, always in 10 minutes or less.  Subscribe to Planet Money+ [https://n.pr/3HlREPz]  Listen free: Apple Podcasts [http://n.pr/PM-digital], Spotify [https://n.pr/3gTkQlR], the NPR app [https://n.pr/3Bkb17W] or anywhere you get podcasts. Facebook [https://n.pr/3h92GwS] / Instagram [https://n.pr/3FqLuws] / TikTok [https://n.pr/3sGZdrq] / Our weekly Newsletter [https://n.pr/3zrFvUB].  This episode is hosted by Darian Woods, Adrian Ma, and Wailin Wong. These episodes of The Indicator were originally produced by Cooper Katz McKim and engineered by Robert Rodriguez. They were fact-checked by Sierra Juarez. Kate Concannon is The Indicator’s editor. Alex Goldmark is the Executive Producer.  Music: NPR Source Audio - “Diamond High”  Learn more about sponsor message choices: podcastchoices.com/adchoices [https://podcastchoices.com/adchoices] NPR Privacy Policy [https://www.npr.org/about-npr/179878450/privacy-policy]

It’s here! It’s free to download and playtest! It’s the Planet Money game! (Download here [http://planetmoneygame.com].) * Download and playtest the game go here [https://www.explodingkittens.com/pages/planet-money-pnp]  * Sign up for the 11/1 virtual AMA event and get updates about the game [https://npr.formstack.com/forms/planet_money_virtual_game_event] * Submit your feedback on the game [https://npr.formstack.com/forms/help_planet_money_make_a_game] * Watch the how-to video with Kenny and Elan for playtest instructions [https://youtu.be/coTkbsBeSYY?si=j-5RguEZPO4uagdo] In this episode, the story of how we arrived here. Ride along as our game-making partners at Exploding Kittens help us turn our (sometimes wild) economics game ideas into the next blockbuster game. It’s a behind the scenes look at how to design a game from scratch — a game that is somehow filled with economics, impossible to put down, but does not feel like you’re cramming for school. Which is… harder than we thought. After months of trying to find the perfect balance of ideas and entertainment, the Planet Money game is ready for our next phase. And that’s where you come in, listeners! We need you to playtest the Planet Money game to help us perfect it. Subscribe to Planet Money+ [https://n.pr/3HlREPz] Listen free: Apple Podcasts [http://n.pr/PM-digital], Spotify [https://n.pr/3gTkQlR], the NPR app [https://n.pr/3Bkb17W] or anywhere you get podcasts. Facebook [https://n.pr/3h92GwS] / Instagram [https://n.pr/3FqLuws] / TikTok [https://n.pr/3sGZdrq] / Our weekly Newsletter [https://n.pr/3zrFvUB]. This episode was hosted by Kenny Malone and Erika Beras. It was produced by James Sneed with help from Emma Peaslee and edited by Jess Jiang. It was fact-checked by Sierra Juarez and engineered by Cena Loffredo. Alex Goldmark is Planet Money’s executive producer. Learn more about sponsor message choices: podcastchoices.com/adchoices [https://podcastchoices.com/adchoices] NPR Privacy Policy [https://www.npr.org/about-npr/179878450/privacy-policy]

We want to make a board game. It must, of course, teach the world about economics. It must be fun. It’d be nice if it sold lots of copies! How hard could that be!? (Monopoly and Catan are hugely popular and basically little economy simulators, after all.) Well, turns out, it’s quite hard! We’re in a golden age of tabletop games. Thirty years ago there were around 800 new games each year. Now it is more like 5,000. Just a handful of those get to be hits.  In the first episode of our new series, Planet Money sets forth on an epic quest to beat the odds.  Subscribe to Planet Money+ [https://n.pr/3HlREPz] Listen free: Apple Podcasts [http://n.pr/PM-digital], Spotify [https://n.pr/3gTkQlR], the NPR app [https://n.pr/3Bkb17W] or anywhere you get podcasts. Facebook [https://n.pr/3h92GwS] / Instagram [https://n.pr/3FqLuws] / TikTok [https://n.pr/3sGZdrq] / Our weekly Newsletter [https://n.pr/3zrFvUB]. This episode was hosted by Kenny Malone and Erika Beras. It was produced by James Sneed with help from Emma Peaslee and edited by Marianne McCune. It was fact-checked by Sierra Juarez and engineered by Gilly Moon and Robert Rodriguez. Alex Goldmark is Planet Money’s executive producer. Learn more about sponsor message choices: podcastchoices.com/adchoices [https://podcastchoices.com/adchoices] NPR Privacy Policy [https://www.npr.org/about-npr/179878450/privacy-policy]

The next time you open your fridge, take a second to behold the miracles inside of it: Raspberries from California, butter from New Zealand, steak from Nebraska. None of that would have been remotely possible before the creation of the cold chain.  The cold chain is the name for the end-to-end refrigeration of our food from farm to truck to warehouse to grocery store and ultimately to our fridges at home. And it’s one of the great achievements of the modern world.  On today’s show, Nicola Twilley, food journalist and author of Frostbite: How Refrigeration Changed Our Food, Our Planet, and Ourselves, tells us the story of how our world got cold, and what that’s meant for the economy.   We’ll hear about two pioneers of cold: The cheapskate meat baron Gustavus Swift, and the train-hopping chemist Polly Pennington. And we’ll take a look at whether all this refrigeration might have created some new problems.  Subscribe to Planet Money+ [https://n.pr/3HlREPz] Listen free: Apple Podcasts [http://n.pr/PM-digital], Spotify [https://n.pr/3gTkQlR], the NPR app [https://n.pr/3Bkb17W] or anywhere you get podcasts. Facebook [https://n.pr/3h92GwS] / Instagram [https://n.pr/3FqLuws] / TikTok [https://n.pr/3sGZdrq] / Our weekly Newsletter [https://n.pr/3zrFvUB]. Today’s episode of Planet Money was hosted by Nick Fountain and Alexi Horowitz-Ghazi. It was produced by James Sneed and edited by Keith Romer. It was fact-checked by Sierra Juarez and engineered by Valentina Rodríguez Sánchez. Alex Goldmark is Planet Money's executive producer. Learn more about sponsor message choices: podcastchoices.com/adchoices [https://podcastchoices.com/adchoices] NPR Privacy Policy [https://www.npr.org/about-npr/179878450/privacy-policy]

On Wall Street, fortunes are often won and lost with the tiniest advantages. And for the past few years, one trading firm has stood out from the rest for both huge profits and careful secrecy — Jane Street Group. But last year, one of Jane Street’s biggest and most lucrative trading strategies was unexpectedly revealed in a Manhattan courtroom. The news ricocheted around the world. It drew the attention of competitors and regulatory agencies, destabilized billions of dollars worth of trades, and called into question some of the most fundamental strategies in global finance.  Some Planet Money episodes about finance: - The rise and fall of Long Term Capital Management [https://www.npr.org/2025/02/21/1232862544/long-term-capital-management-ltcm] - How George Soros forced the UK to devalue the pound [https://www.npr.org/2024/12/04/1216966368/george-soros-british-pound-bessent-johnson-druckenmiller] Further reading:  - Jane Street Group, LLC v. Millennium Management LLC, Douglas Schadewald, and Daniel Spottiswood [https://www.sewkis.com/wp-content/uploads/Jane-Street_amended-complaint.pdf] - “Jane Street’s Indian Options Trade Was Too Good [https://www.bloomberg.com/opinion/newsletters/2025-07-07/jane-street-s-indian-options-trade-was-too-good],” from Bloomberg - SEBI's report: "Interim Order in the matter of Index manipulation by Jane Street Group" [https://www.sebi.gov.in/enforcement/orders/jul-2025/interim-order-in-the-matter-of-index-manipulation-by-jane-street-group_95040.html] - “Jane Street Defends India Trading Activity, Blasts Regulator [https://www.bloomberg.com/news/articles/2025-07-08/jane-street-defends-india-trading-activity-and-blasts-regulator],” from Bloomberg Subscribe to Planet Money+ [https://n.pr/3HlREPz] Listen free: Apple Podcasts [http://n.pr/PM-digital], Spotify [https://n.pr/3gTkQlR], the NPR app [https://n.pr/3Bkb17W] or anywhere you get podcasts. Facebook [https://n.pr/3h92GwS] / Instagram [https://n.pr/3FqLuws] / TikTok [https://n.pr/3sGZdrq] / Our weekly Newsletter [https://n.pr/3zrFvUB]. This episode was hosted by Alexi Horowitz-Ghazi and Mary Childs. It was produced by Eric Mennel, with production help from Sam Yellowhorse Kesler and Cooper Katz-McKim. It was edited by Jess Jiang. Fact-checking by Sierra Juarez. Planet Money’s executive producer is Alex Goldmark. Learn more about sponsor message choices: podcastchoices.com/adchoices [https://podcastchoices.com/adchoices] NPR Privacy Policy [https://www.npr.org/about-npr/179878450/privacy-policy]