Platypus Economics with Justin Wolfers
@platypuseconomics
From world events to everyday decisions, economics explains it all. Platypus Economics makes it clear, useful, and actually fun.
Fine print time: no tax on tips, no tax on overtime, no tax on Social Security — all real, all narrower than advertised, and all expire at the end of 2028. The tax cuts for wealthy families in the same bill? Permanent. https://newsletter.platypuseconomics.com/p/justin-answers-your-questions-on
We read the news every day, so we miss the big story: the world just added more renewable energy than ever before. Progress can be hard to see up close. https://newsletter.platypuseconomics.com/p/what-reeses-cups-and-canadian-wildfires
Calling this a ceasefire is like calling “we should totally hang out sometime” a marriage proposal. Charming energy. Not a contract. Not even close. https://newsletter.platypuseconomics.com/p/what-reeses-cups-and-canadian-wildfires
Not everything valuable has a price. Clean air is an economic asset—even if nobody sends you a bill for it. Its benefits show up in healthier lives, better communities, and more freedom to move. https://newsletter.platypuseconomics.com/p/what-reeses-cups-and-canadian-wildfires
Immigrants have always been part of America's story of innovation and growth. Treating them as a threat may be good politics for some, but it's lousy economics for everyone. https://newsletter.platypuseconomics.com/p/from-the-gilded-age-to-ai-a-conversation
Markets aren't only pricing in higher oil prices. They're pricing in a more dangerous world. Every escalation carries economic consequences that extend far beyond the stock market. https://newsletter.platypuseconomics.com/p/spend-2-billion-make-8-billion-the
Having a baby bond tucked into a policy package is not the same thing as having a meaningful baby bond policy. If the equalizing piece is small and temporary, it’s not doing the heavy lifting. https://newsletter.platypuseconomics.com/p/what-the-white-house-isnt-telling
When it comes to AI, ownership is the key question. Give workers tools that complement them, and they become more valuable. Give firms tools that replace them, and workers lose leverage fast. https://newsletter.platypuseconomics.com/p/from-the-gilded-age-to-ai-a-conversation
Trump Accounts give everyone the same account. But families with spare cash, generous employers, and higher tax rates stand to benefit the most. The result? The biggest gains may go to those who need them least. https://newsletter.platypuseconomics.com/p/what-the-white-house-isnt-telling
Inflation is still with us, it’s still painful, and we all hope it keeps easing. But hope isn’t analysis, and skepticism isn’t evidence. Right now, the best read is that the numbers are real. https://newsletter.platypuseconomics.com/p/good-news-on-inflation-with-an-asterisk
The Strait of Hormuz isn't simply open or closed. It's been more like my dog going in and out of the house all day. The real risk is uncertainty: if shippers lose confidence that the route will stay open, oil prices could jump—even before anything actually happens.
Stocks at record highs can coexist with a pretty ordinary economy. Why? A handful of AI-linked firms are driving much of the market's gains. Strip them out, and the rally looks a lot less impressive.
Does GasBuddy make the gas market more competitive—or less? It helps consumers find bargains. But it also lets gas stations see each other's prices instantly. Could that make price competition less fierce? https://newsletter.platypuseconomics.com/p/could-price-comparison-apps-be-making
Trade used to be simple: find someone you want to do business with and make a deal. Today, many firms first have to ask whether Washington approves. What happens when government moves from referee to player?
Modern war isn't won by counting bodies or dollars. Increasingly, it's about turning modest resources into precise, inexpensive weapons. Drones are weakening the old connection between economic size and military power. https://newsletter.platypuseconomics.com/p/trump-made-billions-on-crypto-his
Gas stations don’t need a smoky back alley. They’ve got something better: giant signs and binoculars. When prices should fall, each waits for the other bloke to move first. https://newsletter.platypuseconomics.com/p/the-hidden-pattern-in-gas-prices
People notice this because it affects their wallets almost immediately. Oil prices drop, but the pump doesn't seem to get the memo. https://newsletter.platypuseconomics.com/p/the-hidden-pattern-in-gas-prices
Baby bonds are adorable. But a policy that expires in 2028 looks more like a campaign onesie than a savings plan.
The question isn't whether this month's number is exciting. It's whether the labor market is still in good shape. For now, it mostly is.
Past tech revolutions substituted for brawn. AI substitutes for cognition. That's a different kind of disruption, and it doesn't favor men. Worth thinking about where the labor market goes from here. https://newsletter.platypuseconomics.com/p/feel-your-feelings-jobs-trump-accounts
What happens when more Americans own a piece of the economy? It's an idea that's been around for years—one that's attracted support from economists across the political spectrum. https://newsletter.platypuseconomics.com/p/feel-your-feelings-jobs-trump-accounts
17.76% off an annual Platypus Economics subscription. This weekend only. No fine print. No surprise renewal gotchas. Just 17.76% off, exactly as advertised. Offer ends tonight. https://newsletter.platypuseconomics.com/july4
America in 1776 had about 2.5 million people. What surprised us even more wasn't the population—it was how much living standards have changed since then. That's the power of 250 years of economic growth. https://newsletter.platypuseconomics.com/p/feel-your-feelings-jobs-trump-accounts
90% of new jobs created since January 2025 have gone to women. The data tell a very different story from the headlines. https://newsletter.platypuseconomics.com/p/the-latest-jobs-report-is-disappointingbut
"This is not a guy who's creating a better widget that enriches people's lives... the company wins when the customer wins." That's the difference between creating value and extracting it.
60,000 jobs was below expectations—but context matters. Earlier job gains were revised down, and the economy still appears to be creating enough jobs to keep unemployment broadly stable. https://newsletter.platypuseconomics.com/p/the-latest-jobs-report-is-disappointingbut
Inflation is awake and your cash is having a nap. Bad portfolio strategy, mate. If rates are up, money sitting in a zero-interest account is volunteering for a pay cut. More on how to navigate inflation: https://newsletter.platypuseconomics.com/p/a-users-guide-to-living-with-inflation
Inflation can turn a raise into a pay cut — but because we see the bigger dollar number, we often miss what’s really happening. Economists call this money illusion. https://newsletter.platypuseconomics.com/p/a-users-guide-to-living-with-inflation
Markets work for consumers, but only when competition is protected. Businesses naturally seek market power. That's why the answer isn't just being pro-business. It's being pro-market. https://newsletter.platypuseconomics.com/p/convenience-has-a-price-but-they
Showing the full mandatory price upfront isn't anti-business. It's pro-market. Food delivery platforms should compete on a clear total price, not on who can best hide fees and add-ons. https://newsletter.platypuseconomics.com/p/convenience-has-a-price-but-they
