Platypus Economics with Justin Wolfers

Latest Episodes:

Thanks, Jensen: The Affair That Cost You $2,000 | Diving In Nov 11, 2026

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Jensen Huang’s weekend scandal didn’t just cost Nvidia. It cost you. After reports that the CEO was targeted by a foreign intelligence effort, and his admission of an extramarital affair, Nvidia shed hundreds of billions in value while the rest of the market rallied. Justin Wolfers follows that money into American households and finds a loss of nearly $2,000 per home, about the size of a COVID stimulus check, running in reverse. But that average hides a twist in who’s really paying, and a bigger question: how did one man’s private life get the power to move American wealth on the scale of an act of Congress?

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The October Inflation Report Explains That Sinking Feeling | Diving In Nov 10, 2026

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October 2026 CPI inflation is about 4%—here's why it's an estimate, and why it matters.

Justin Wolfers unpacks an October inflation report with a missing headline: last year's government shutdown left no October 2025 price reading. He fills that gap using September and November data to estimate annual inflation at about 4%, up from 3.7% in September. Prices rose 0.4% this month, while core prices, excluding food and energy, rose 0.3%—both hotter than markets expected.

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Elon Musk Lost Far More Than $474 Million | Diving In Nov 09, 2026

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Elon Musk’s $474 million in midterm spending looks enormous—until you compare it with what he had riding on the result. On Diving In, Justin Wolfers estimates that Musk’s Tesla and SpaceX holdings lost roughly $70 billion relative to their expected market performance. He flags the uncertainty, especially around SpaceX, and distinguishes the election-night surprise from the much larger financial stakes across different congressional outcomes.

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Why Justin Is More Upbeat About the Economy | The Professor Is In Nov 07, 2026

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What does the October jobs report mean for your paycheck and your next career move?

Your next raise may depend on your alternatives, not just your loyalty. Justin shows how outside offers create bargaining power, why employers can reward good work without waiting for a resignation threat, and how scarce AI skills can give you leverage. If your employer isn’t valuing you, his advice is to look elsewhere.

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What Does October’s Jobs Report Really Tell Us? | Diving In Nov 06, 2026

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The October jobs report delivered 165,000 new payroll jobs against forecasts of just 60,000. On Diving In, Justin Wolfers explains why that surprise—and upward revisions lifting the three-month average to 137,000—points to an improving labor market.

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Blue Wave Economics | The Professor Is In Nov 04, 2026

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What did the midterm elections reveal about the economy—and your household budget?

Justin Wolfers examines the Democratic sweep through a puzzle: how can the economy grow while people feel so anxious? He contrasts GDP growth of 3.4% at an annual rate with record-low University of Michigan consumer sentiment. His argument is that distrust of economic leadership helps explain the gap—and the vote against the party in power. He also explains what prediction markets saw coming, and why picking the winner doesn't necessarily make a poll accurate.

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The Hidden Feedback Loop Behind Rising Prices | The Professor Is In Nov 03, 2026

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Why did the Fed hold interest rates, and what is it waiting for?

Justin Wolfers makes a crucial distinction about the Fed’s decision to hold interest rates: there can be a strong case for delaying a hike, but waiting to see September’s hike in next month’s inflation numbers is a weak one. Monetary policy works with delays, and a quarter-point move is hard to isolate amid everything else happening in the economy.

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America's Jekyll-and-Hyde Economy | Off The Clock Oct 31, 2026

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The economy is growing — so why does your paycheck feel like it's shrinking?

GDP is up 3.4%, unemployment is near record lows, the stock market keeps hitting highs — and yet it doesn't feel good. On this Halloween episode of Off the Clock, Justin Wolfers and journalist Stacey Vanek Smith dig into the "Jekyll and Hyde economy," where the pie is growing but a bigger slice is going to owners instead of workers.

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What the New GDP Report Actually Says | Diving In Oct 30, 2026

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GDP grew 3.4% last quarter — so why does inflation still hurt? Justin Wolfers untangles it.

The last big data dump before the 2026 midterms just landed, and it's a tangle: GDP grew at a 3.4% annualized rate last quarter — faster than forecasters expected — while the Fed's preferred inflation gauge is still running hot. In this Diving In episode, Justin Wolfers walks you through why both political parties can grab accurate numbers and tell you completely opposite stories.

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Did the Midterms Delay a Fed Rate Hike? | Diving In Oct 29, 2026

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Why did the Fed hold interest rates steady when inflation is still above 2%?

Inflation is running hot by every measure — PCE at 3.4%, core at 3.0%, and the CPI that tracks your actual cost of living at 3.7% — yet the Federal Reserve just chose to do nothing. Justin Wolfers walks you through what that decision means for your money, and admits up front he's a little puzzled too. Markets put an 85% chance on a rate hike in December, so what the Fed really did was delay a move almost everyone agrees is coming.

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