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Marketplace on RADIO IQ with BBC
Marketplace with host Kai Ryssdal produced and distributed by American Public Media focuses on the latest business news both nationally and internationally, the global economy, and wider events linked to the financial markets.
The only national daily business news program originating from the West Coast, Marketplace is noted for its timely, relevant and accessible coverage of business, economics and personal finance.
Tuesday, December 10, 2013 12:06pm
If there is one vehicular tech promise that has captured our imagination for decades but never quite been delivered, it's the jetpack. From Jules Verne to James Bond in "Thunderball" to "The Rocketeer," we've pretended these things are just around the corner for a very long time. But for some reason, we don't have them yet. Well, not quite yet. The BBC's Jack Stewart headed to New Zealand recently to look at a company which hopes to again kindle our interest and bring us closer to our dreams with something called a Martin Jetpack.
Tuesday, December 10, 2013 12:00pm
We've been talking about the internet of things for a long time. And though your TV may not yet talk to your refrigerator, your car, and your phone, but there are a growing number of companies working on that.
Today, a development in how this idea might actually happen: Wireless technology company Qualcomm has been building a new way for all our devices to communicate, and it just made the source code of this new protocol public. Which means lots of different companies could potentially use it instead of building their own. Stacey Higginbotham has been writing about this for the website GigaOm, and tells Marketplace Tech about Qualcomm's AllJoyn.
Tuesday, December 10, 2013 11:45am
General Motors announced this morning that Mary Barra, GM's current head of global product development, will succeed Daniel Akerson as chief executive officer when he retires next month.
Barra will be the first woman to lead a major auto company. Barra is a veteran of GM. She got her start on the factory floor as an intern 33 years ago, and holds an MBA from Stanford University. Barra is considered a major player in GM's turnaround since its bailout by the federal government in 2009.
Micki Maynard covers the automotive industry for Forbes, and tells Marketplace Morning Report about Barra's career and the challenges that await her as CEO of one of the world's largest auto companies. Click the audio player above to hear more.
Tuesday, December 10, 2013 10:03am
If young women want to close the gender pay gap, they should pay more attention to their major than their university. A new study suggests that having more women getting degrees from Stanford or Harvard matters far less than having more women getting degrees in engineering or business. Gokhan Savas, co-author of the study and an assistant professor at Luther College in Iowa, speculates that it’s probably* about the enduring power of old boy networks.
“Male students who go to those elite institutions, but major in literature or history or social sciences or art, they are still able to get fancy jobs in Wall Street,” Savas says.
Women? No such luck.
Click the player above to hear more, and see the study’s abstract here.
Tuesday, December 10, 2013 8:29am
This morning in Stockholm, Sweden, three American men will be awarded the Nobel Prize in Economics. Yale's Robert Shiller and the University of Chicago's Eugene Fama and Lars Peter Hansen are being recognized for their at times conflicting research into how financial markets work.
Before he departed, Marketplace Morning Report host David Brancaccio spoke with Lars Peter Hansen. Click the audio player above to listen to their interview.
DB: Your work embraces the imperfection of economic models, but still allows you to get work done?
LPH: I view the work I've done related to statistics and economics as roughly speaking, how to do something without having to do everything. So economic models -- how any model by definition isn't right. When someone just says, 'Oh, your model is wrong.' That's not much of an insight. What you want to know is, is wrong in important ways or wrong in ways that are less relevant? And you want to know what does the data really say about the model?
DB: One example that comes to mind is we know a lot about climate change, but there's also a lot we don't know. What do you think your way of thinking about imperfect models would mean for making good decisions about an issue like that?
LPH: So that's a fascinating question. And this shows up not only in connections to economics and the climate, it also shows up in financial oversight and regulation. Early on, in discussions of financial oversight, people would say, 'Well, this is a very complicated problem, therefore it requires a complicated solution.' And at that step, I would say, 'Well, wait a minute. Just because it's a complicated problem doesn't mean the best course of action immediately is one that's complicated.' Because, you know, behind complexity you can slip indiscretion, you can slip in counterproductive measures that overstate our knowledge and the like. And an advantage of a more simpler approach is transparency as well.
DB: It would be nice, for instance, if you could eventually offer some guidance of which of those institutions are, in fact, too big to fail or more likely to fail.
LPH: Part of what we have to do, or part of what remains a challenge, is we have to be not scared of letting institutions fail. You know, extended bankruptcy from big financial institutions would just be a disaster typically, because this could have very big consequences. But we need to figure out better ways to get resolution when financial institutions are struggling in ways that aren't socially so costly to us.
June 21, 2013