This year's Economics Nobel went to a trio of researchers whose work focuses on the importance of strong institutions for an economy. Today we hear from the newly minted Nobel laureates about how they came to their groundbreaking conclusions. For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

The problem of how to price water is a perennial conundrum. Water is an essential limited resource that everyone needs, so how do you price it so everyone can afford it while making sure that utilities have enough revenue to fix their aging systems? Today on the show, we find out why it's so hard to price water and how a city's solution led to a threat to cut off thousands of residents from a popular welfare program. You can read more about the fight over water prices here. For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy