Marketplace All-in-One

During the pandemic, especially with gyms shut down or just less appealing, people bought a lot of wearables. Those are smart devices that you wear on your body — in your ear, on your wrist or as a patch, even — that track your activity in some way. Look at sales of smartwatches. They jumped by almost 18% in 2020, according to Gartner. The research firm also forecasts that spending on wearables will grow to more than $81 billion by the end of this year. Marketplace’s Marielle Segarra talked to Ramon Llamas, a research director at International Data Corp., about why wearables got so popular during the pandemic.

Anxiety over Evergrande, a behemoth property developer in China, and its $300 billion debt sent stock markets around the globe tumbling on Monday. The situation is spotlighting precarity in China’s real estate sector and the country’s economy as a whole; some fear a Lehman Brothers-style crisis. The uncertain future of Evergrande, coupled with supply chain and inflation woes, could continue to stoke market jitters. Plus: Location-based setbacks for new houses, high-frequency data hints about the labor market and mixed business is dished up for New York’s lunch spots.

Congressional Democrats are working on a $3.5 trillion bill that would vastly expand the social safety net. But what exactly is this thing we call the social safety net?

“We’re talking about things like the earned income tax credit, child tax credits, a cash transfer program called TANF, or Temporary Assistance [for] Needy Families … but if you think about how long it might take you to get on your feet, it is a relatively meager and challenging system to subsist on,” said Tina Sacks, associate professor of social welfare at the University of California, Berkeley.

The idea that the government should help catch Americans if they fall on hard times started during the Great Depression, for obvious reasons. But Sacks says today that net doesn’t work as well as it should. There are a lot of gaps in the system, and at the end of the day our programs are pretty meager compared to those in other developed nations.

On the show today, Sacks walks us through the ins and outs of the social safety net. What it looks like in practice and whether the Democrats’ plan could make a real difference.

Later, we’ll talk about the next legal fight over reproductive rights, hear from a listener who makes us smart about toaster ovens and a callout for all your Duo voice memos!

When you’re done listening, tell your Echo device to “make me smart” for our daily explainers. This week we’ll explain so-called name, image and likeness compensation deals and how they’re changing the game for student athletes, along with the origin of potato chips. Also, don’t forget to subscribe to our newsletter! You can find the latest issue here.

Here’s everything we talked about today:

Read the transcript here.

On “How We Survive,” Molly Wood explores the technology that could provide some of those solutions, the business of acclimatizing to an increasingly inhospitable planet, and the way people have to change if we’re going to make it in an altered world.

Decarbonization requires a lot of batteries, and many batteries require lithium. The need for lithium is driving a modern gold rush for the metal that could save the world, but relies on an old, dirty technology: mining. This season, we’ll dive deep into the economics, the tech and the human stories behind the rush for “white gold.” And unlike the gold rush of the 1800s, this time, our survival might depend on it.

It all starts Oct. 6. Listen to the trailer now and be sure to follow the show so you don’t miss an episode.

The job description is vague, but the power is real for the Fed’s vice chair of supervision. The person in this position at the Fed is basically the top banking cop in charge of enforcing Dodd-Frank mandates. We delve a little more into what this job entails as President Biden is looking to fill this spot and others. Christopher Low joins us to discuss the markets. The president’s easing of international travel restrictions has some businesses hopeful for an upswing in visitors.

The Federal Reserve begins a two-day meeting today, and one thing on the agenda will be talk of when to start pulling back on Fed bond purchases designed to keep the money moving during the pandemic. A global group also had a warning today about countries that withdraw support for their economies too soon. We also check in with a business owner who benefited from a program that helps businesses rebuild and adapt from the damage of the pandemic.

From the BBC World Service: India is the world’s biggest vaccine manufacturer, and the country’s health minister has announced it can resume coronavirus shot exports from next month. And we hear about the factors likely to influence the future of Africa’s tariff free deal for access to U.S. markets, the African Growth and Opportunity Act.

World leaders are gathering for meetings this week at the United Nations General Assembly in New York. Among the topics they’ll discuss is the ravages of climate change. This year, climate damage across the U.S. included devastating flooding, and while some people know they face flood risk, many do not. That’s largely because the official federal flood maps are often outdated and may not account for the effects of increasingly powerful storms. We wanted to know how technology is advancing the mapping effort. Marketplace’s Jed Kim speaks with Michael Grimm, assistant administrator for risk management at FEMA, who manages flood mapping. Grimm says the agency continuously updates its tech, like lidar.

A massive real estate company is freaking out the global markets. The Evergrande Group is sitting on tons of debt, and investors worry it could go broke and send ripple effects throughout China and beyond. We’ll explain the Evergrande crisis. Plus, you’re awesome! A big shoutout to all the “Make Me Smart” listeners who helped us beat our fundraising goal. And please send photos of you in your banana pants!

Here’s everything we talked about today:

Read the transcript here.

Our show needs your voice! Tell us what you think of the show or ask a question for our hosts to answer! Send a voice memo or give us a call at 508-82-SMART (508-827-6278).

Pfizer announced today that a smaller dose of its COVID-19 vaccine is proving safe and effective for children ages 5 to 11. If FDA emergency approval goes as planned, kids could be getting their shots by Halloween. This could, among other things, help moms get back to work. And later: how the weather affects what we buy; an Afghan American humanitarian reflects on the recent upheaval; and a look at what corporate pledges actually accomplish.