How climate shocks could break the economy | Edmond Rhys Jones
Host Elise Hu introduces a TED talk by climate pathfinder Edmund Rhys-Jones, who explores the economic implications of climate change. Rhys-Jones argues that while climate science is detailed and alarming, traditional economic models understate real-world disruption because they ignore how climate shocks propagate through financial infrastructure. He calls for new, complexity-based simulations and financial innovations to better manage growing climate-related turbulence and safeguard a significant share of global GDP.
Everything's more expensive!! Pet care!! Concert tickets!! (Two Indicators)
This episode presents two Indicator stories on the rising cost of living, focusing first on concert ticket prices and then on veterinary care. The hosts examine how ticket reseller bots, mispricing by artists, and the secondary market contribute to high concert prices, as well as how one state is trying to regulate resales. They then explore why veterinary costs have risen much faster than general inflation, highlighting Baumol's cost disease, higher input and labor costs, corporate ownership pressures, and stronger emotional bonds between pet owners and their animals.
650. The Doctor Won't See You Now
Stephen Dubner examines the growing shortage of physicians in the United States, exploring both demand-side pressures like an aging population and supply-side constraints in medical education and training. Former CDC director and infectious disease physician Rochelle Walensky outlines workforce data, training bottlenecks, burnout, debt, and rural access problems, while economic historian Karen Clay explains how the early 20th-century Flexner Report raised medical standards but also sharply reduced the number of medical schools and doctors, with complex long-term consequences. Throughout, practicing and former physicians describe how bureaucracy, insurance rules, changing public attitudes, and alternative career options are reshaping the medical profession.
How Russia's shadow fleet is sailing around oil sanctions
The episode investigates Russia's "shadow fleet" of aging oil tankers that has emerged to evade Western sanctions and the G7 oil price cap imposed after Russia's 2022 invasion of Ukraine. A Danish maritime pilot, Bjarne Cesar Skinnerup, describes guiding increasingly numerous, poorly maintained tankers carrying Russian oil through the Danish Straits, while maritime intelligence specialist Michelle V.C. Bachman explains how the fleet is structured using opaque ownership, fake insurance, and permissive or fraudulent flags. The hosts explore how this underground shipping network reshapes global oil flows, sustains Russian revenues, raises geopolitical tensions, and creates severe environmental and financial risks for coastal nations, while leaving individuals like Bjarne in a moral bind.