Digest

The Indicator from Planet Money explores several key economic indicators this week. First, they discuss a report from UBS that shows global wealth has more than doubled since 2000, driven by factors like globalization, emerging markets, rising real estate prices, and the tech boom. The report also highlights increasing wealth inequality in many countries, but a decrease in the U.S. The episode then delves into the topic of steel tariffs, specifically the loophole that allows steel imported from China to enter the U.S. tariff-free after passing through Mexico. The Biden administration has recently implemented a new rule requiring steel to be cast in Mexico, the U.S., or Canada to avoid tariffs. Finally, the episode examines Greece's decision to implement a six-day work week, a move that has sparked controversy. The Greek government argues that this is necessary due to a shrinking workforce and will benefit workers by ensuring they are paid for overtime hours. However, critics argue that this will only exacerbate the already long working hours in Greece.

Outlines

00:00:00

Global Wealth Trends

This Chapter discusses a report from UBS that shows global wealth has more than doubled since 2000, driven by factors like globalization, emerging markets, rising real estate prices, and the tech boom. The report also highlights increasing wealth inequality in many countries, but a decrease in the U.S.

00:02:47

Trade Loopholes for Chinese Steel

This Chapter explores the loophole that allows steel imported from China to enter the U.S. tariff-free after passing through Mexico. The Biden administration has recently implemented a new rule requiring steel to be cast in Mexico, the U.S., or Canada to avoid tariffs.

00:04:59

Greece's Six-Day Work Week

This Chapter examines Greece's decision to implement a six-day work week, a move that has sparked controversy. The Greek government argues that this is necessary due to a shrinking workforce and will benefit workers by ensuring they are paid for overtime hours. However, critics argue that this will only exacerbate the already long working hours in Greece.

Keywords

Q&A

• What are some of the key factors driving the increase in global wealth?

  According to the UBS report, factors like globalization, emerging markets, rising real estate prices, and the tech boom are contributing to the increase in global wealth.

• How has the Biden administration addressed the loophole allowing tariff-free steel imports from China through Mexico?

  The Biden administration has implemented a new rule requiring steel to be cast in Mexico, the U.S., or Canada to avoid tariffs.

• What is the rationale behind Greece's decision to implement a six-day work week?

  The Greek government argues that the six-day work week is necessary due to a shrinking workforce and will benefit workers by ensuring they are paid for overtime hours.

• What are some of the criticisms of Greece's six-day work week policy?

  Critics argue that the six-day work week will only exacerbate the already long working hours in Greece and could lead to worker fatigue and burnout.

Show Notes