Selects: How Black Friday Works
Josh Clark and Charles W. "Chuck" Bryant examine the origins, evolution, and current state of Black Friday in the United States. They trace how the day after Thanksgiving became associated with holiday shopping through department store parades, how the term "Black Friday" arose from Philadelphia police and transportation workers, and how retailers later reshaped its meaning into a profit narrative. The hosts discuss the economics of holiday retail, doorbuster tactics and their risks, violent and deadly crowd incidents, worker and scheduling issues around Thanksgiving openings, and counter-movements like Buy Nothing Day and China's Singles Day.
Capitalism (Taylor's Version) (25-minute Podcast Version)
Planet Money hands the episode over to Vox's Today Explained to examine how Taylor Swift and other pop stars use album variants and sales strategies to game music charts and monetize superfans. Music reporter Elias Light explains the mechanics and incentives behind physical and digital variants, while critic Ann Powers unpacks the backlash to Swift's latest album, fans' discomfort with her extreme wealth, and how she uses her music to control her public narrative. The episode situates Swift within broader industry practices and compares her autobiographical approach to Beyoncé's more representative storytelling.
Cold War Santa with Sarah Archer
Host Sarah Marshall and historian Sarah Archer explore how Santa Claus and American Christmas traditions evolved from the 19th century through the Cold War, focusing on consumerism, design, and media. They trace Santa from a tiny artisan figure in Victorian illustrations to a postwar, space-age and domesticated icon wrapped in department stores, aluminum trees, and televised specials like Miracle on 34th Street, A Charlie Brown Christmas, and How the Grinch Stole Christmas. Throughout, they examine how Christmas has always been bound up with retail, nostalgia, gender roles, and changing ideas about patriotism and the future.
The Consumer Sentiment vs. Consumer Spending Puzzle
The episode explores why U.S. consumer spending remains strong despite very low consumer sentiment and several economic headwinds like high interest rates, inflation, and tariffs. Using detailed credit card data, economist Dieran Patkey shows that high-income households are driving much of the growth in spending, effectively propping up the economy. Economist Peter Atwater argues that this creates a top-heavy, "K-shaped" economy and a fragile, illusionary sense of broad prosperity that is vulnerable to shocks in financial markets.
Buy now, pay dearly? (update)
Planet Money explores how buy now, pay later (BNPL) services work, why they have spread so quickly, and what risks they pose to consumers and the broader financial system. Through the story of college student Emilia Schmarzo and interviews with Federal Reserve researchers, the episode explains BNPL's business model, its appeal to merchants and younger shoppers, and the dangers of debt "stacking" when usage is not reported to credit bureaus. An update looks at how BNPL has expanded to everyday necessities, who is using it most, and how it may soon affect credit scores.
The Happy Place of Saturday Morning Cartoons
Josh and Chuck take a nostalgic and critical look at the era of Saturday morning cartoons, tracing how they emerged, peaked, and eventually disappeared from broadcast television. They discuss the programming's cultural role for kids, the heavy commercialization and sugary-food advertising attached to it, and the regulatory battles over violence and marketing to children. The episode also covers the impact of deregulation, the rise of cable and gaming, and how these shifts ended the Saturday morning ritual while leaving a strong shared cultural legacy.