David Kestenbaum

Transcript

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President Obama has called for increasing the minimum wage, saying it will help some of the poorest Americans. Opponents argue that a higher minimum wage will lead employers to cut jobs.

Figuring out the effect of raising the minimum wage is tough. Ideally you'd like to compare one universe where the minimum was raised against an alternate universe where it remained fixed.

In 1895, legislators in New York state decided to improve working conditions in what at the time could be a deadly profession: baking bread.

"Bakeries are actually extremely dangerous places to work," says Eric Rauchway, a historian at the University of California, Davis. "Because flour is such a fine particulate, if it gets to hang in the air it can catch fire and the whole room can go up in a sheet of flame."

This famous bet — between a biologist and an economist — was over population growth. It started three decades ago, but it helped set the tone for environmental debates that are still happening today.

The biologist at the heart of this bet was Paul Ehrlich at Stanford. He wrote a best-selling book in 1968 called The Population Bomb. It was so popular he appeared on The Tonight Show with Johnny Carson.

We recently published a story about how used clothes that get donated in the U.S. often wind up for sale in markets in Africa. As part of the story, we published some photos of used T-shirts we found in a couple of markets in Kenya.

One shirt in particular caught our eye:

For more on what Bitcoin is and how it works, see our story "What Is Bitcoin?"

Gavin Andresen is chief scientist at the Bitcoin Foundation. I first talked with him about Bitcoin, the virtual currency, back in 2011. I checked back in with him this week, because so much has been going on with Bitcoin lately.

Robert Shiller was surprised when he got the call telling him he'd won the Nobel Memorial Prize in economics — surprised that he'd won (of course), but also surprised that he was sharing the award with Eugene Fama.

"He and I seem to have very different views," Shiller told me. "It's like we're different religions."

In particular, they have very different views about economic bubbles.

"The word 'bubble' drives me nuts, frankly," Fama told me.

For more of our reporting on this story, please see our work in The New York Times Magazine and on This American Life.

Earlier this week, I bought a Treasury bill.

Everybody calls Treasury bills T-bills, and they work like this: The government promises to pay holders of T-bills a specific amount on a specific day in the near future. For the T-bill I bought, the government promised to pay $1,000 on Oct. 31.

I bought the T-bill on Tuesday, before Congress had made the debt-ceiling deal, so it was unclear whether I would get paid back on time.

What would happen if Congress doesn't raise the debt ceiling and the U.S. defaults on its debt later this month? The broad economic implications are unpredictable, but a default could cause huge trouble for the global economy.

But whatever happens to the global economy, one thing is clear: People all over the world who have loaned the U.S. government money won't get paid on time.

Well, it's happened. British scientist Peter Higgs has won a Nobel Prize for proposing the Higgs boson particle as part of a mechanism that explains how things in the universe came to have mass.

Higgs seems to be lying low today so far — a colleague told The New York Times that Higgs had "gone off by himself for a few days without saying where" and that a reporter seeking an interview recently had been "sent away with a flea in his ear."

Tuesday is a big day for Obamacare. The online marketplaces where people can shop for health insurance are supposed to open for business.

No one really knows who is going to sign up — not the Obama administration, not the insurance industry, not the president's critics. Yet the success of the law hangs on this question: Will the right mix of people sign up? In particular, will healthy people buy health insurance?

The government of Ecuador has abandoned a plan that would have kept part of the Amazonian rainforest off limits to oil drilling. The initiative was an unusual one: Ecuador was promising to keep the oil in the ground, but it wanted to be paid for doing so.

For more of our reporting on this story, please see our recent column in the New York Times Magazine, and the latest episode of This American Life.

For more of our reporting on this story, please see our recent column in the New York Times Magazine, and the latest episode of This American Life.