Economics & Economy

Does anyone actually want a Facebook portal?

Oct 8, 2018

Yale economist William Nordhaus, along with New York University’s Paul Romer, received the Nobel Prize in economics Monday. We look at the consequences of putting Nordhaus’ research on the economic impact of climate change to policy. Then, Romer's work connecting technological innovation to economic growth has been influential across the globe, but perhaps not as influential as he would like. Also on today's show, we speak with Marketplace Tech host Molly Wood about Facebook’s newest gadget release amid users’ security concerns. And the U.S.

My Economy tells the story of the new economic normal through the eyes of people trying to make it, because we know the only numbers that really matter are the ones in your economy.

(Markets Edition) Has the world gotten complacent about the price of oil? According to the Wall Street Journal, bets on oil surpassing $100 per barrel have doubled in the last month. Julia Coronado at Macropolicy Perspectives has more. Then, we examine the growing trade deficit as seen through goods and services … specifically services. Also, across two hemispheres, officials are cutting back on how much financial cushion banks set aside for emergencies.

Here’s an unusual tale of urban revival in the U.K., which owes much to an iconic entertainer from the U.S. The small Welsh seaside resort of Porthcawl — population 10,000 — had been waning for years. Holidaymakers had been choosing sunnier vacations overseas and the town, with its rather antiquated fairground and slightly tacky amusement arcades, was sliding into seedy decline.

But now the town is undergoing an economic renaissance.

And it’s largely thanks to the King of Rock n' Roll.

Dairy was one of the sticking points between the United States and Canada during the negotiations to replace the North American Free Trade Agreement.

American producers of milk and cheese complained Canada's tightly controlled dairy industry limited their access to markets north of the border. The new agreement opens the door to more U.S. milk exports to Canada.

While it could lead to lower prices there, many Canadians worry about the fate of small milk and cheese producers, particularly in Quebec, home to half of Canadian dairy production.