with Kai Ryssdal

About the Program

Public radio's only national series about the global economy and finance takes a broad view of business, covering any story related to money — most of the world's stories are. Hosted by Kai Ryssdal.

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James Mattis as Defense Secretary? One national security expert disagrees
Another key job in the Trump administration has been filled. Retired Marine Corps General James Mattis is the president-elect's pick for Secretary of Defense and the official announcement comes Monday. It is unconventional to name a retired general officer to run the Pentagon for several reasons, some of which Erin Simpson lays out in a new piece at the commentary website War on the Rocks. Her piece is titled “I Love Mattis, But I Don’t Love Him as SecDef.” Simpson spoke with Kai Ryssdal. On Mattis and why he may not be a good pick for secretary of defense: Most of us who enjoy General Mattis and appreciate his unique style, in many ways, love his directness, his bluntness, his profanity at times. I certainly enjoy that. That’s gonna be a tough road to hoe in an administration where that’s well-represented already. We really would need him to toe the line much more carefully, particularly with management of allies and making sure that our — kind of — steady commitments to the defense posture that we’ve maintained continues. That’s not what you go to Mattis for... Click the audio player above to hear the full interview.   (12/02/2016)

Strong job market, but not so much for workers with mid-level skills
The November unemployment rate, at 4.6 percent, is low. But the jobs are still disappearing in some sectors. In manufacturing, for instance: down 4,000 jobs from October, continuing a long-term trend. So what’s that mean for workers? Click the above audio player to hear the full story. (12/02/2016)

Get ready for a higher-end cup of coffee
Starbucks CEO Howard Schultz is stepping out of daily operations at the coffee company to focus on the rollout of a new premium coffee brand, Starbucks Reserve. Schultz compared the effort to Ralph Lauren's launch of his high-end Purple label. But how has that brand done? And what lessons does Ralph Lauren have for Howard Schultz? Click the above audio player to hear the full story. (12/02/2016)

Long and Short: Minimum wage and Gilmore Girls
The Los Angeles Times' Natalie Kitroeff and CNN Money's Tanzina Vega play the long and short game this week. They discuss fair wages, the myth of bringing jobs back to the U.S. and the "Gilmore Girls" revival. Click the above audio player to hear the full story.  (12/02/2016)

Post-war economic prosperity increased America’s interest in Christmas decor
The way Americans thought about house and home completely transformed between 1945-1973. The post-war period in America ushered in a big spike in spending on domestic goods, like appliances and decor. Home ownership rates increased, too. In 1940, 43.6 percent of Americans owned their home. By 1960, 61.9 percent did. This made the "nesting" aspect of Christmas, including exterior and interior decoration, a new category for holiday shopping. An image from an advertisement for the General Electric Space Maker Refrigerator, December 1948. Reproduced with permission from GE Lighting, a business of General Electric Company. Courtesy Sarah Archer Design historian Sarah Archer explores Christmastime during the war, as well as post-war, in her new book "Midcentury Christmas." She brings us the next installment of our "Brought to You By" series. The focus on home and hearth was not new during the postwar era; nineteenth century gave rise to what historians call the 'cult of domesticity,' as industrialization increasingly split men’s and women’s roles between the outside world of business and commerce and the interior world of family, housework, and nurturance. But Americans did have a good new reason to fixate on the domestic front. With Great Britain ravaged by the war even in victory, the two new superpowers that emerged in 1945—the United States and the Soviet Union—were both large, formidable and ideologically opposed to one another on the basis of their respective economic systems. Newfound prosperity coupled with worry about possible conflict with the Soviets meant that middle-class homeowners doubled down on domesticity. You can explore more postcards and images from "Midcentury Christmas" on Marketplace's Instagram, @marketplaceapm. Click the audio player to hear the full interview. (12/02/2016)

What the Big Mac creator's legacy has to do with exchange rates
Even though the Big Mac isn’t as relevant as it used to be, McDonald’s still sells plenty of them — 500 million Big Macs are sold per year in the U.S. alone and the iconic burger is available in almost 100 countries, according to The New York Times. The Big Mac’s creator, Jim Delligatti, died this week at the age of 98. He ran a franchise in Pennsylvania and in 1967 introduced the double-decker burger for 45 cents. He was trying to keep up with Big Boy and Burger King’s larger burger options. By the following year, the Big Mac was on McDonald’s menus nationwide. Thanks to McDonald’s dominance in the global market, the “meal disguised as a sandwich” became a tool to measure currency exchange when The Economist introduced The Big Mac Index in 1986.                                          The index is based on the idea that exchange rates between two countries should eventually equalize the prices of an identical item like the mass-produced burger. Here’s how it works, according to The Economist: “the average price of a Big Mac in America in July 2016 was $5.04; in China it was only $2.79 at market exchange rates. So the ‘raw’ Big Mac index says that the yuan was undervalued by 45 percent at that time.” The index spawned the concept of "burgernomics," which has been the subject of several studies, and is even accepted by economic textbooks. The index's findings help sum up a slice of the global economy. The Economist reported that “judging by the price of burgers, most currencies are undervalued against the dollar.” We’ve even used the index as a way to track how inflation has affected the middle class. The one major exception to the Big Mac’s universality is in India, where the burger is called the Maharaja Mac, and made with spicy grilled chicken instead of beef and loaded with veggies. (12/02/2016)

Italy's referendum may reflect populist backlash
First it was Brexit. Then Donald Trump’s presidential election victory. Where will the next politico-economic bombshell fall? It could be in Italy over the weekend. On Sunday, Italians vote in a referendum on constitutional reform. And the result could — conceivably — produce turmoil in financial markets. Prime Minister Matteo Renzi called the referendum to streamline the machinery of government in order to push through more much-needed economic reform to tackle the country’s chronically low growth and stratospheric joblessness. 37 percent of Italy’s young people are unemployed, output is down 9 percent since 2008 and industrial production has shrunk by a quarter. Many business people back the “Yes” campaign in Sunday’s referendum. “I will vote yes.  I don’t think it’s good to stop the reform. Because things are very slow, very bureaucratic and not very productive in this country,”  said carpenter Pierluigi Cosatti, who makes furniture and shop fittings at his workshop on the outskirts of Rome. Insurance broker Andrea di Giacomo, speaking in his offices in the center of the city,  made the same complaint. He calls Italy’s public sector bloated and indolent. “These public servants…they walk. We run. We as private business people try to run but they walk,” di Giacomo said. “How will I vote on Sunday ? Yes! Yes! And Yes again!" But a majority of  Italians may vote “ no.” Prime Minister Renzi has made the referendum a matter of his own political survival; he’s promised to quit if the vote  goes against him. That has allowed populist opposition parties to portray  the referendum as an opportunity to give an unpopular government a good kicking. The Five Star Movement — led by comedian Beppe Grillo—has fully exploited this opportunity and has campaigned vigorously against Renzi’s constitutional reforms. Five Star is anti-corruption, anti-austerity, anti-euro and, above all, anti-establishment. One of the party’s lawmakers, Manlio di Stefano, thinks that after Brexit and Trump’s election win, the "no" voters have a good chance of victory. “If there’s some connection between everything that’s going on in the world from Trump to Brexit to the Italian Referendum, it is that nobody’s listening to the people’s voice and we need to  listen to people,” di Stefano said. Di Stefano says if there’s a "no" vote, Renzi resigns, the government falls and Five Star takes power, it will hold another referendum on whether Italy should pull out of the euro. He describes the decision to take Italy into the eurozone without the people’s consent as a “ big error.”  “We just want to bring back power to the people,” di Stefano said. If the euro’s third biggest economy did pull out of the single currency, it could easily crash the whole system. Financial mayhem could be the ultimate consequence of people voting "no" in this weekend’s referendum. Michel Martone — a former deputy labor minister — says the "no" voters, ironically, are motivated by fear. “Italy is afraid of change as well as many Americans who were afraid about globalization voted for Trump and many Brits who were afraid of Europe voted for Brexit,” Martone said. “I can understand that many people are afraid. This is what scares me.” But this is Italy, a country which has had 65 governments since World War 2, and has coped with political turmoil and uncertainty for decades. A “no” vote in Sunday’s referendum might briefly roil financial markets, but most analysts say in the medium term, it is more likely to cause drift and stagnation.   Click the above audio player to hear the full story.  (12/02/2016)

Warm winters mean investors’ cold shoulder for coat makers
It’s December, and if you’re heading out to do some shopping right now, you’ll notice a few things. One, there will definitely be annoying holiday music playing. Two, pretty good deals on coats, if you can find them. Three, for a lot of the country, it doesn’t feel like December weather-wise. Warmer winters are shrinking the market for winter clothing — and for the shares of companies that make it. Click the above audio player to hear the full story. (12/02/2016)

Your office could be making you sick
In offices across the country, someone is probably sneezing, spreading a cold that's been going around. It sometimes seems like when one person at work gets sick, it's only a matter of time before everyone does. One potential reason why is the office itself. Most of the buildings we work in are completely sealed off from the outside world, in part to help save on heating and cooling costs. But this can also mean that when someone gets sick, the germs just circulate through the ventilation system.  Marketplace Weekend spoke to Zoe Schlanger, science contributor at Wired, where she recently wrote a piece on the topic of office microbiomes.  To listen to the full interview, tune in using the audio player above.      (12/02/2016)

A look at the conflict at Standing Rock
For months, protesters have been in a standoff in North Dakota over a nearly $3.8 billion energy project called the Dakota Access Pipeline. Protesters are concerned the pipeline could harm the water supply near the Standing Rock reservation. The Energy Transfer Partners, the company who wants to build the pipeline, has said they will not re-route the project. Dan Gunderson, correspondent for Minnesota Public Radio, has been reporting from the Standing Rock protest camps. He sat down with us to break down the conflict.  To listen to the full interview, tune in using the audio player above.  (12/02/2016)

The economy that Trump inherits
New numbers out this week point to a strengthening U.S. economy. The unemployment rate is at its lowest since the Great Recession and economic growth is ticking up. How will Trump's administration build on this? Kai and Andrea take stock of the recovery and Trump's latest Cabinet pick, retired Marine General James Mattis. Got questions about the transition, who's in and who's out? Tweet them to us @Marketplace, @KaiRyssdal and @RadioBabe.  (12/02/2016)

Weekly Wrap: Jobs, Carrier and Trump
Catherine Rampell of the Washington Post and Sudeep Reddy of the Wall Street Journal join Kai Ryssdal to wrap up the week's business and economic news. They talk about the jobs report and why we should take the good-looking numbers with a pinch of salt. Also: the whole thing with Carrier and it's ominous implications for the country's industrial economy. (12/02/2016)

The band Local Natives takes the Marketplace Quiz
No matter who you are, you've probably had a rough day at the office that changed your perspective, or maybe you made an impulse purchase you really, really wish you could take back. This week, musicians Taylor Rice and Kelcey Ayer from the band Local Natives take our money and work-inspired personality questionnaire based on those experiences.  Local Natives' latest album, "Sunlit Youth," is out now. T: What is something everyone should own no matter the cost? K: I think a dog.  T: I knew you were going to say dog. I don't even know why you thought for that long, like pretended to think for that long. K: I just got my dog, as you know, a year and a half ago. I think I was talking to our bus driver about it... T: I bet you were. K: To Joe. Yeah. Because he has a dog at home and he was like it doesn't matter who you are or what you've done in your life, you come home and that dog loves you so much. T: No matter who you've betrayed or wronged. K: No matter all the horrible things you've done in your life. That dog is going to love you. I think there's an emotional benefit to having that kind of companionship, that kind of unconditional love from an animal. I definitely see the value in having a dog.   K: What is the hardest part about your job that nobody knows?  T: The hardest part about being a musician is the travel, but more specifically the health aspect of traveling. People might actual know that or think it can be tough to live out of a suitcase and be city to city. But what's really hard is that your schedule gets ultra turned around. So you finish a show, you go on at 9, go off at 11, then your endorphins are super high and spike so it takes a really long time to wind down. You're going to have to eat a meal super late, so an ultra-early bedtime is 2 a.m., you end up slipping to 3 or maybe 4 a.m., and the sleep that your getting is not great so I think the biggest struggle about it is staying really healthy, eating really well, getting regular sleep, just simply that can be pretty tough. K: I find that you can't really sleep until the bus gets to the next city and has stopped. So you end up getting your best sleep from like 9 a.m. to noon. T: Well that's horrible. I've been sleeping pretty well on this tour so I don't even know how you're alive. K: Oh, yeah, so that's how it is for me. T: That's truly horrendous. K: Yup.   T: What is something that you've bought that you now completely regret buying? K: I would say when I was a freshman in college I spent $150 on a Ninja blending system and I had like no money and I never used it. T: But now you can just eat smoothies, cheaply. K: Yeah maybe if I even knew where it was. I bought it, never used it and then I can't even tell you were it is at this moment, so... T: That should carry over. When [we were] on our last tour we tried to buy a huge juicer. I was pushing the juicer, but then nobody was really in charge of packing up and cleaning it up. So we lost vital pieces to it three times and we bought it three times over. K: That's a group regret.   K: What advice do you wish someone had given you when you started your career? T: The advice I wish I had received is to not hold on so tightly to every idea you have along the way. I think that could be creatively or in business decisions and relationships as well. It's taken me a while, and us as a band a while, to learn that when you try to tap into a flow of what's working really well and move quickly, that tends to make us feel a lot more productive and also just work from a really happy place. I think that's something that took quite a while to learn. To try [to] be more nimble and move quickly. K: Because I think ideas kind of show their worth overtime. If something is really worth it, they end up kind of rearing their heads later. So you don't have to freak out as much trying to make something work. To listen to the full interview, tune in using the audio player above.    (12/02/2016)

A $720 pair of Nikes that will tie its own laces
On today's show, we'll talk about the November jobs report and how the Federal Reserve might react to it; Louisiana's goal of helping kids with financial literacy; and $720 self-tying sneakers.  (12/02/2016)

What’s next for Starbucks CEO Howard Schultz?
Shares in Starbucks were sharply down early Wednesday on the news that Starbucks CEO Howard Schultz is stepping aside as CEO. He’ll stay with the company to focus on the high-end coffee market, and COO Kevin Johnson will step into the chief executive role. Howard Schultz has spoken to our show a few times, including a recent conversation about the company’s media pursuits. As CEO, he’s been a fairly vocal leader — sometimes on issues that go way beyond coffee. Now, he’ll help Starbucks battle the competition from the fanciest of fancy boutique coffee shops. Click the above audio player to hear the full story.  (12/02/2016)

Those who live and work in Tennessee towns hit by deadly fire grapple with uncertainty
The resort towns of Gatlinburg and Pigeon Forge, Tenn. are trying to come to terms with the loss of life and property from the wildfires that swept through the community this week. At least 11 people died and 700 buildings were destroyed. But many people who lost their homes and businesses don’t even know it yet, because they’re still waiting to be allowed back into their neighborhoods. James Tweedle and his wife were among the 200 people who spent Wednesday at a sports complex-turned-temporary shelter here in Gatlinburg. The wildfire is about the scariest thing he's ever experienced. "You could feel the heat and ash," he said. "The best way to describe it is like you were at the gates of hell." Gatlinburg and Pigeon Forge sit right at the entryway to Great Smoky Mountains National Park, with a combined year-round population of about 10,000. Much of the area wasn't touched by fire, and a lot of people got to go home. But those who remain in the shelters, like the Tweedles, are still under strict evacuation orders. They can't confirm whether their home is still there. Neither can Terrylynn Battson, who evacuated with her elderly mother. "I do not know if my house is still standing," said Battson. "I live a mile from here. It's very frustrating." By Wednesday night, about 200 people were staying in shelters in the area like this one, down from more than 1,000 Monday night.  Emily Siner/WPLN This is a common refrain: the palpable uncertainty of what people will still have when they return. And it's not just homes. It's places of employment. In the case of Billy Stinnett, it's the vacation rental cabins he manages for Jackson Mountain Homes. "Right now, we've confirmed 13 of our properties that have burned, but anything past this way we haven't been able to get to at this time," he said. About a third of his company's properties are in the area that's still off limits. So they've spent most of the week just trying to confirm that their guests who stayed there were able to get out. And then there are those who know that their homes burned to the ground. "Yeah, I got confirmation from a cell phone picture — my house is gone," said Anthony Reynolds. "We got out with what we got on." Reynolds is staying in the shelter with his wife, daughter and grandchildren. He said he hadn't expected the fire to jump to his side of the mountain. But the winds shifted and it set a path toward his house. In addition to his house, he knows the hotel his wife works at was badly damaged. "Everybody here's in the same situation. They've either lost your home, lost your job or lost both," he said. (12/02/2016)

How will U.N.-U.S. relations fare under Trump administration?
Today, President Obama will meet with incoming United Nations chief Antonio Guterres. Guterres will step into the Secretary General role in January. That’s also when we’ll see a new administration in Washington. What could U.N.-U.S. relations look like under President Trump?  Click the above audio player to hear the full story.  (12/02/2016)

2016 wage growth: good but not great
The U.S. economy added 178,000 jobs in November, with the unemployment rate declining to 4.6 percent.  Forecasts had predicted a net gain of around 180,000, jobs, a signal of steady hiring in the labor market. Though average hourly earnings declined last month, wages have been trending up for some time. But there’s still room for improvement. (12/01/2016)

In Louisiana, kids learn about balancing the books and paying bills
Tyrell Raby is a little nervous as he waits in line at a Baton Rouge bank. “If you have a low credit score the bank won’t trust you that much,” he said. Raby’s 13, and he’s actually at a fake bank, set up at a mall in Baton Rouge, with around 50 eighth-grade classmates from McKinley Middle School. He’s participating in a financial literacy course for middle schoolers. Last May, Louisiana made financial literacy a mandatory topic in state public schools. The goal is to create a more money savvy generation in a place with some of the highest poverty rates in the country, and according to the Federal Deposit Insurance Corporation, the highest rate of unbanked residents. As part of the McKinley school's class exercise, Raby’s pretending to be 33, single, with no kids. “I don’t have that much money,” said Raby. “My monthly income is $1,913, I think.” The students cycle through stations where they pay bills, and taxes. At the end of the day the goal is to balance the books. Jamie Doming is project manager for Junior Achievement, the organization that designed today’s curriculum. She said reaching eighth graders is key to this process. Louisiana’s high school dropout rate is around 25 percent. “Your highest risk students  — they won’t even be there by ninth or 10th grade,” Doming said. Eighth graders from Baton Rouge’s McKinley Middle School analyze personal finance data as part of a financial literacy course. Jesse Hardman Which means they will be out in the real world, dealing with real financial issues. Like formal banking, something many of their parents struggle with according to Jan Moller, director of the Louisiana Budget Project, a nonprofit focusing on public policies that impact low- and middle-income residents. “We know there are four times as many payday lending storefronts in Louisiana as there are McDonald’s restaurants,” Moller said. Many Louisiana residents struggle with deep generational poverty, and compensate for that through payday lenders or simply deal in cash, Moller said. He said the state’s decision to prioritize financial literacy should help. “We’re not talking about calculus here,” Moller said. “You don’t need to be a math major to balance your checkbook,” he said. Which is exactly what eighth grader Tyrell Raby is working on back at the fake bank. He’s a bit overwhelmed by the 24 bills he’s accumulated in this exercise. Raby’s takeaway for the day? “Learn the process of what you have to do to grow up,” Raby said. That, and also, bills are scary. (12/01/2016)

The Uncertain State of South Korea
Prosecutors in South Korea are investigating  a corruption scandal involving President Park Geun-Hye. Allegedly, President Park's friend asked major companies, namely Samsung, for large donations for the South Korean government. Now, people protest outside the Blue House, the President's residence, every Saturday and demand that she resigns. This scandal, paired with President-elect Donald Trump's comments about the country have sent the nation into a state of uncertainty about its future.  Stephen Evans is a Seoul Correspondent for the BBC and has been covering this story.  On how this scandal is affecting the economy:  They're raiding these offices because they want to know why particular companies gave money. Samsung, for example, gave about $3 million to these funds. Samsung and the other companies are not saying. We simply don't know whether the companies are being witnesses or as criminals, really.  On how the country is feeling amidst this scandal: There is uncertainty and I think it's big uncertainty in a pretty dangerous situation. And it's partly because of this political crisis in Seoul, but it's also because of the things which President-elect Trump said before— on his way to winning the election. [He] signaled, for example, that he thought South Korea was getting its defense [for] cheap, that Japan was getting its defense [for] cheap, and he signaled that it might not be a bad thing if South Korea and Japan had nuclear weapons. So, you think of Kim Jong-Un, who is developing his nuclear arsenal and people here are saying well, you know, where do we stand with this? Where do we stand with Mr. Trump? Is he really going to pull the Americans out? What's the policy going to be? We really do not know. Click the audio player above to hear the full interview. (12/01/2016)

Starbucks CEO Howard Schultz steps down
It's tempting to say it was the pumpkin spice lattes that did him in, but it's probably just the right time: Howard Schultz announced today he's stepping down next year as CEO of international coffee purveyors, Starbucks. The company said that he's not planning on leaving entirely — he's going to become executive chairman and focus on the brand's higher-end stores — marketed under the brand 'Starbucks Reserve'. Kevin Johnson, who's currently Chief Operations Officer, will replace Schultz as CEO in April 2017. Little known fact about Schultz: he wasn't an original founder of Starbucks. He started out as Marketing Director at the chain in 1982. After failing to convince the owners to introduce Italian-style espresso drinks, he defected and opened his own store. In 1986, the original Starbucks owners sold Schultz their retail units, allowing him to rename his own shop 'Starbucks'. The rest is history. Originally, Schultz only allowed whole milk in stores. In 2007, due to overwhelming demand, Starbucks switched to using 2% by default.   (12/01/2016)

It could be a very good holiday for U.S. charities
Charities could see a bump up in donations this month. That’s because wealth advisers are telling their clients to increase their giving now, before likely changes to the tax code next year. On his website, Donald Trump says he’ll cut the top tax rate to 33 percent. And he wants to cap itemized deductions for married joint filers to $200,000. Currently there is no cap. That last part is already affecting charitable giving, with advisers telling clients to step up giving now before the cap kicks in. Click the audio player above to hear the full story. (12/01/2016)

Cyborgs: we're closer than you think
Let's play a game.  It's called, “Are you a cyborg?” Here's how you play: Have you inserted a chip or computerized medical device like a pacemaker into your body? Do you use any fitness tracking software or hardware? Are you taking antidepressants? If you answered “yes” to any of these questions, you win. You are a cyborg. At least, that's the view of futurist Amy Webb, who we feature in this episode of Codebreaker, called 'The Augmented Self'. “The real truth is that about a quarter of us are cyborgs and we might not even realize it,” says Webb, who founded the Future Today Institute. “If you are taking any kind of antidepressant, you’re part of an experimental biohacking. It’s what we can see versus what is invisible. My uncle, when he was 16, became a cyborg. He had a heart condition and was the youngest recipient of a pacemaker.”  Generally speaking a cyborg is defined as a person, fictional or real, who has enhanced their physical abilities by introducing technology or other mechanical elements to their body. When we think of cyborgs, most of us think of wacky science fiction so Amy's definition might be a surprise.   This episode has a few, visible cyborgs in the realm of the extraordinary. Cyborg activists Neil Harbisson, who has an antenna fixed to his skull, and Moon Ribas, who has a sensor implanted in her elbow which allows her to feel earthquakes in real time. Steve Sanchez, a paraplegic test pilot for exoskeleton company SuitX, and Chris Dancy, who might be the most data-hungry adopter of the “quantified self” movement ever. 'Augmented Self' also features a skin-crawling example of how we’re willing to enlist technology to improve ourselves. Sandra Upson, executive editor of Backchannel, reported for us on a new process where hairline-challenged men in San Francisco are enlisting the help of artificial intelligence -powered robots to do hair transplants.  And, I talked to one of pop culture’s best known cyborgs: Geordi La Forge — aka Levar Burton — of Star Trek the Next Generation Fame.  "I do believe that technology, when used appropriately, can make our journey here better, easier, more enjoyable," Burton says. Augmented Self: Listen, decode and decide.  (12/01/2016)

Chart of the day: Personal debt keeps growing
One out of three Americans has at least one debt in collections. That includes credit card debt, car loans, medical bills, unpaid parking tickets or even unpaid gym memberships. The national debt comes up all the time in politics, but what the government owes might be less important to the economy than what people personally owe. Today, Americans owe more than $11 trillion worth of debt. Roughly $830 billion of that is delinquent, unpaid or in collections. As a result, the U.S. debt industry employs more than 300,000 people. You can find out more about how growing personal debt is affecting Americans in the latest installment of our "How the Deck is Stacked" series.   (12/01/2016)

Most high school students aren't applying for financial aid, study says
On average, less than half of high school students actually complete their financial aid forms, which means they could be losing out on money for college, according to the National College Access Network. The nonprofit released a report today on how many high school students filled out Free Application for Federal Student Aid (FAFSA), the application for state and federal financial aid, in 2015. As a result, students are "leaving billions of dollars" on the table, the report said. Elizabeth Morgan, director of external relations for the National College Access Network, said the data helps illustrate the need to inform younger students. The nonprofit conducted a different study in October and found that more than half of students who didn’t apply say they didn’t know financial aid existed. “They don’t believe that there’s money,” she said. “They don’t understand that there’s money to help them pay for college. That’s the fundamental problem.” The report’s data represents high school students age 18 and under in 68 cities. The highest completion rate was 68 percent, but the average rate was 48 percent. The lowest rate was 25 percent. The data doesn’t account for whether or not students actually qualify for financial aid. Here are the highest and lowest completion rates for the cities the report analyzed: Rounak Maiti   Rounak Maiti/Marketplace The report is presenting the low completion rates as an argument for streamlining the FAFSA process. It adds to the ongoing efforts of U.S. Education Secretary John B. King, Jr., who made a push in September to streamline the FAFSA process. He said his goal was to reach the students who are eligible, but slip through the cracks. Why is it so important to get funding for students? One argument is that a student's financial situation can affect his or her ability to graduate college. (12/01/2016)

What politicians don’t get: companies don’t want to create jobs
President-elect Donald Trump gave more details today about a deal with the air conditioner company Carrier to retain about half the jobs it had planned to outsource to Mexico. About 1,000 jobs will stay, but it appears that Carrier's parent company, United Technologies, may still move as many or more jobs. More manufacturing jobs disappearing than staying? That's a familiar script. The corporate strategy at many companies — manufacturers or otherwise — is to cut jobs, not create them. Click the audio player above to hear the full story. (12/01/2016)

Reddit announces plan to curb "toxic users"
A story about the internet, abuse on the internet and one company doing something about it. Reddit is a site where users post links about what they're reading or watching or thinking online and, importantly, comments responding to those links.  So what actually happened with Reddit and its CEO? What happened initially is that Reddit's CEO, a guy named Steve Huffman, wrote this computer script so that whenever a member of a certain pro-Trump subreddit, r/The_Donald, cussed him out or abused him using his username, this script changed his username so that the message then cussed out the user. It substituted [his] name for [the user's] name. I mean, this is classic 13-year old boy troll behavior, so then it looked like they were cussing themselves, like "an idiot says what." And this has been in a controversial section of Reddit? Yes. This has been a controversial section of the website for months, if not longer and [when] the abuse started to center on the CEO, he created this script to try change the messages. Obviously that didn't go over very well, because he was ultimately altering the business at the same time. He apologized to that group a week ago, he apologized more yesterday but then immediately came out with plans to curb some of those toxic users and remove them from the site.  Are we now seeing perhaps, maybe something being done about this abusive behavior online?  Well we're seeing something being done but I can't tell you that it's going to make it better in the short term, because we're seeing it on Reddit, on Twitter...on Facebook. Reddit is arguably the home of some of these behaviors that have now gotten out of control. It's as though these sites built a sort of Frankenstein monster — a nice little corner for you on the web to say whatever you want, and I think they thought it might stay there. But it has crept out onto the rest of the web. Twitter has become a home for abuse, Facebook has become a home for fake news. And so we're almost seeing [the] inevitable outcome of a total lack of rules in digital society playing out in the real world, and now we have to sort of face down how to deal with it.  Click the audio player above to hear the full interview. (12/01/2016)

How Italy's new referendum could change the country
On today's show, we'll talk about what we're expecting from tomorrow's jobs report; a new Italian referendum that'll reform the country's constitution; and how Amazon moves data into the cloud.  (12/01/2016)

Politics mailbag: Ethics, market reactions and the Fed
Kai Ryssdal and Andrea Seabrook answer your questions on conflicts of interest, stock market reactions and what to expect from the Federal Reserve over the next four years. Got questions about the election aftermath, Trump's first 100 days or the future of the American economy? Tweet them to @Marketplace, @kairyssdal or @RadioBabe. (12/01/2016)

Trump's Carrier deal “is not policy," experts say
Donald Trump will be in Indianapolis on Thursday to tout a deal struck with Carrier. The appliance manufacturer has agreed to keep some 1,000 jobs in the U.S. after discussions with Trump’s team. The president-elect had skewered Carrier on the campaign trail for its plans to move 2,000 jobs to Mexico. But, the details of the deal are still unclear, and union leaders are unsure what the terms will be, including which jobs will stay and which will go away. We talked to two experts who said that, while keeping jobs is a net positive, the deal “is not policy” and raises questions about how companies might negotiate with the administration in the future. Click the above audio player to hear the full story.  (12/01/2016)

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