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The carried interest tax loophole is a way that wealthy Americans – often the people who manage hedge funds or private equity firms – avoid paying billions of dollars worth of taxes. It has been one of the most controversial yet durable features of the U.S. tax code. But where did it come from? Today we romp through space and time to piece together the origins of this loophole. There will be pirates and mutiny. A 50s tax-dodge-a-palooza. And perhaps the Michelangelo of tax lawyers. | Subscribe to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

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It's that time of year again! Our annual year-end tradition of checking in on previous stories to hear what happened after the microphones stopped running.

We'll hear from a CEO who was trying to get her company out of Russia amidst the war in Ukraine, check in with an organizer who was trying to turn his community into a city, follow-up on our experiment in polling, and get the latest from our record label — Planet Money Records. Plus, we learn of a romance sparked by a podcast episode!

Check out the original stories:

Eagles vs. Chickens
Escape from Russia
A tale of two cityhoods
Planet Money tries election polling
The $100 million deli
Planet Money Records Vol. 1: Earnest Jackson
Planet Money Records Vol. 2: The Negotiation

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Right now, the economy is running hot. Inflation is high, and central banks are pushing up interest rates to fight it. But before the pandemic, economies around the world were stuck in a different rut: low inflation, low interest rates, low growth.

In 2013, Larry Summers unearthed an old term from the Great Depression to explain why the economy was in this rut: secular stagnation. The theory resonated with Olivier Blanchard, another leading scholar, because he had made similar observations himself. Larry and Olivier would go on to build a case for why secular stagnation was a defining theory of the economy and why government policies needed to respond to it. They helped reshape many people's understanding of the economy, and suggested that this period of slow growth and low interest rates was here to stay for a long time.

But today, Larry and Olivier are no longer the duo they used to be. As inflation has spiked worldwide, interest rates have followed suit. Earlier this year, Larry announced that he was no longer on the secular stagnation train. Olivier, meanwhile, believes we're just going through a minor blip and will return to a period of low interest rates within the near future. He doesn't see the deep forces that led to a long-run decline in interest rates as just vanishing. Who's right? The future of the global economy could depend on the answer.

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It's that time of year again! Our annual year-end tradition of checking in on the stories we've reported and the people we met along the way.

We'll hear from a Hollywood strike captain who tried to pull off one last job, an update from the data detective trying to uncover the truth in academic research, and tribute to a very special member of the Planet Money family.

Check out the original stories:
Vacation, and why the U.S. takes so little of it
The secret entrance that sidesteps Hollywood picket lines
Did two honesty researchers fabricate their data?
Planet Money Records Vol. 1: Earnest Jackson, Planet Money Records Vol. 2: The Negotiation & Planet Money Records Vol. 3: Making a Hit

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The punk pioneers talk about their ninth and final studio album.

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The past few years have shaken the fundamental ways we live. It's... disorienting. But it's also an opportunity to reexamine how we spend our time. Over the next three episodes, TED speakers will investigate evolving notions of what it means to pay our bills, feel joy in play, and rest our minds and bodies. This hour: Work. Guests include labor organizer Jess Kutch, social entrepreneur Irma Olguin, and tech reporter Kevin Roose.

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As kids, play comes naturally. But over time, it gets replaced with work. This hour, TED speakers explore how to reconnect with play—to spark creativity, combat despair, and find our way in the world. Guests include musician Jacob Collier, human rights activist Yana Buhrer Tavanier, and web developer Stuart Duncan.

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Rest is so much more than just a good night's sleep. From human hibernation to ASMR to the science of dreams, we explore how to nourish our minds and bodies with different forms of rest. Guests include physiologist Craig Richard, psychologist Dylan Selterman, hibernation researcher Matteo Cerri, and journalist Celeste Headlee.

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Original broadcast date: February 4, 2022. The past few years have shaken the fundamental ways we live. It's... disorienting. But it's also an opportunity to reexamine how we spend our time. Over the next three episodes, TED speakers will investigate evolving notions of what it means to pay our bills, feel joy in play, and rest our minds and bodies. This hour: Work. Guests include labor organizer Jess Kutch, social entrepreneur Irma Olguin, and tech reporter Kevin Roose.

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Original broadcast date: February 11, 2022. As kids, play comes naturally. But over time, it gets replaced with work. This hour, TED speakers explore how to reconnect with play—to spark creativity, combat despair, and find our way in the world. Guests include musician Jacob Collier, human rights activist Yana Buhrer Tavanier, and web developer Stuart Duncan.

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Original broadcast date: February 19, 2022. Rest is so much more than just a good night's sleep. From human hibernation to ASMR to the science of dreams, we explore how to nourish our minds and bodies with different forms of rest. Guests include physiologist Craig Richard, psychologist Dylan Selterman, hibernation researcher Matteo Cerri, and journalist Celeste Headlee.

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The UCLA graduate student is helping ensure that Native ecology drives the region’s land management for centuries to come.

California chapparal fire burns into urban Ventura County, showing need for strategies beyond fighting ‘forest’ fires.

Forest Hills Central Middle School wrestling matches begin January 25, 2024. All match times begin at 4 p.m. unless noted otherwise. Click here for a PDF copy of the schedule.

The post 2024 Middle School Wrestling Schedule appeared first on Forest Hills Public Schools.

Professor R J Dwayne Miller is the Royal Society of Chemistry Centenary Prize winner for 2016. Dwayne is Director of the Atomically Resolved Dynamics Department of the Max Planck Institute for the Structure and Dynamics of Matter (MPSD) in Hamburg, Germany, with a secondary appointment as Professor of Chemistry and Physics at the University of […]

TORONTO, ON – A new comprehensive modeling assessment of contamination in the Athabasca Oil Sands Region indicates that officially reported emissions of certain hazardous air pollutants have been greatly underestimated. The results of the assessment, which was carried out by University of Toronto Scarborough Environmental Chemistry professor Frank Wania and his PhD candidate Abha Parajulee, […]

TORONTO, ON — An invasive ant species that has become increasingly abundant in eastern North America not only takes over yards and delivers a nasty sting, it’s helping the spread of an invasive plant species.  The ants are very effective dispersers of invasive plant seeds and new research suggests that together they could wreak havoc on […]

As voters in Alberta and Quebec head to the polls, and a year before municipal elections in Ontario and through much of the rest of the country, a new paper looks at the potential for electoral reform and its consequences Toronto, ON – With municipal elections in Ontario, British Columbia, Manitoba, PEI, and the Territories just […]

In this hour, an ancient instrument, a life-changing disaster, and survival in the face of genocide. People who experienced history, and its artifacts, firsthand. Hosted by The Moth's Senior Director, Meg Bowles. The Moth Radio Hour is produced by The Moth and Jay Allison of Atlantic Public Media.

Storytellers:

Musician Frank Almond makes a historic discovery.

Sivad Johnson takes us behind the scenes of the Detroit Fire Department.

Henny Lewin, a young Jewish girl, is smuggled out of a Lithuanian ghetto during WWII.

Our Introduction to Surface Roughness Measurement guidebook is an excellent initiation to noncontact surface roughness measurement. It offers practical information on various topics to help make roughness measurement easy and efficient.

Zygo, a business unit of AMETEK, Inc., announced that two of its distinguished team members, Dr. Peter de Groot and Dr. Vivek G. Badami, have been recognized by the American Society for Precision Engineering (ASPE) for their significant contributions to the field of precision engineering.

At Rest by Lee Bogle is a(n) Limited Edition. The Edition is Limited to Limited Edition of 250 pcs

Liquid line restrictions cause the evaporator, compressor, and condenser to be starved of refrigerant, causing performance problems in refrigeration systems.

The coronavirus pandemic increased consumer awareness of IAQ to its highest level. The question now is, will this elevated interest in IAQ continue after the pandemic ends?

Private equity funds managed by Blackstone Private Equity will purchase Emerson’s 40% common equity ownership in the joint venture, while Copeland will repurchase the seller’s note.

Refrigeration systems can become restricted in both their high and low sides for a variety of reasons.

A duct system is the part of an HVAC system that most homeowners don’t consider, yet it determines how well their equipment works.

In this episode we discuss REST (Representational State Transfer) with Stefan Tilkov. We started out by discussing the 5 steps to REST: IDs, links, Standard Methods, multiple representations and stateless communication. We then looked at how to use HTTP for REST, and discussed about how to use it for Web Services. We then we discussed whether and how to use REST for enterprise applications, and not just for apps on the internet. We concluded the discussion with a couple of recommendations.

This episode is a discussion with various authors of patterns reviewed at EuroPLoP 2009. Topics include Product Line Engineering, Distributed Development, Open Source and Embedded Systems

We talk with Martin Laforest about topics ranging from how quantum computing works, which different models of quantum computing are explored, current and future uses of the approach as well as the current state of the art.

Trees and edible plants are being planted at churches, schools, street corners, and empty lots across the country to provide free shade and food to all.

Sage Regenerative Kitchen’s executive chef explains why she added meat to the menu—and why she believes so deeply in regenerative farming.

Journalist Peter Yeung explains how Los Cedros has remained protected for years thanks to Ecuador’s constitution extending rights to nature.

Tricia Hersey’s new book insists we have the power to refuse capitalism’s grind culture and instead prioritize rest. 

Have you been interested in taking a MOOC (Massive Open Online Course), but don't know where to find one or how to get started?

Class Central is a free MOOC aggregator that provides links to a wide variety of courses from universities like Stanford, MIT, Harvard, etc. (offered via Coursera, Udacity, edX, NovoED, and others).

The site allows you to search for MOOCs according to the course name, instructor, subject, start date, length of course, and course provider. Class Central also offers a "MOOC Tracker" service that will send you email notifications when a MOOC that is of interest to you becomes available.

MOOCs are a great idea for your students if your school doesn't offer advanced courses for a particular subject and they are also great resources for instructors and others. Try one and I think you will find out how they can be a benefit to you. I did!

This technical article discusses the essentials of transformer differential protection and restricted earth fault protection schemes, contrasting the two and elaborating on why the latter is necessary. Furthermore, it reveals the outcomes of stability tests performed on a 502 MVA... Read more

The post Mastering stability test of power transformer: Differential and Restricted Earth Fault (REF) protection appeared first on EEP - Electrical Engineering Portal.

Singer-songwriter Nick Zammuto spent most of the '00s as one half of the experimental folk duo The Books. In "Idiom Wind," working at the head of a new project, he tells the story of a man who needs to get his hands dirty.

This article aims to provide a comprehensive guide to the standard operating procedures (SOPs) for the isolation, maintenance, and restoration of a 132kV GIS Transformer Bay and Line Bay. It will delve into detailed safety checks, specific steps to be... Read more

The post How to: Isolation, maintenance, and restoration of a 132kV GIS Transformer Bay and Line Bay appeared first on EEP - Electrical Engineering Portal.

Let’s start with basics you probably already know, but nevertheless. It’s important to explain the basics first. Electrostatic Discharge (or ESD) refers to the transfer of electrostatic charge between bodies at varied voltages that is caused by direct contact or... Read more

The post Never underestimate electrostatic discharge (ESD) while working with data networking equipment appeared first on EEP - Electrical Engineering Portal.

Joe Tolzman, founder of RocketPlan, explains the ways his firm’s app benefits restoration firms by streamlining processes.