Planet Money Podcast: all episodes' AI transcripts and summaries
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Podcast: Planet Money
Description: Wanna see a trick? Give us any topic and we can tie it back to the economy. At Planet Money, we explore the forces that shape our lives and bring you along for the ride. Don't just understand the economy – understand the world.Wanna go deeper? Subscribe to Planet Money+ and get sponsor-free episodes of Planet Money, The Indicator, and Planet Money Summer School. Plus access to bonus content. It's a new way to support the show you love. Learn more at plus.npr.org/planetmoney
All Episodes
The habitat banker with full AI transcript and summary
Update: 2024-12-21
Duration: 00:33:02
Shownotes: Our planet is in serious trouble. There are a million species of plants and animals in danger of extinction, and the biggest cause is companies
Duration: 00:33:02
Shownotes: Our planet is in serious trouble. There are a million species of plants and animals in danger of extinction, and the biggest cause is companies
destroying their habitats to farm food, mine minerals, and otherwise get the raw materials to turn into the products we all consume.So, when Mauricio Serna was in college, he realized his family's plot of land in Colombia, called El Globo, presented a unique opportunity. Sure, it had historically been a cattle ranch. But if he could get the money to turn it back into cloud forest, perhaps it could once again be a habitat for the animals who used to live there — animals like the yellow-eared parrot, the tree ocelot, and the spectacled bear (of Paddington fame).On today's show, Mauricio's quest to make a market for a new-ish financial instrument: the biodiversity credit. We peek under the hood to try to figure out how these credits actually work. Is the hype around them a bunch of hot air? Or could they be a critical tool for saving thousands of species around the world?Today's episode was hosted by Stan Alcorn and Alexi Horowitz-Ghazi. It was co-reported by Tomás Uprimny. It was produced by James Sneed, edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
How sports gambling blew up with full AI transcript and summary
Update: 2024-12-18
Duration: 00:30:15
Shownotes: Sports gambling isn't exactly a financial market, but it rhymes with financial markets. What happens on Wall Street somehow eventually also happens in sports gambling.
Duration: 00:30:15
Shownotes: Sports gambling isn't exactly a financial market, but it rhymes with financial markets. What happens on Wall Street somehow eventually also happens in sports gambling.
So in the 1980s, when computers and deep statistical analysis entered the markets, it also entered the sportsbooks and changed the world of sports gambling in ways we see every day now.On today's episode, we have a story from Michael Lewis' new season of his podcast Against The Rules. We hear from a bookie who was able to beat the odds using statistical analysis, and the other bookie who managed to beat those odds, using an even more subtle science: behavioral analysis. Plus, how it's harder than ever to win against the house, and why those offers of free bets in TV ads are maybe not such a good idea.This episode was hosted by Michael Lewis and Mary Childs. Our version of the podcast was produced by Emma Peaslee and edited by Martina Castro. It was fact checked by Sierra Juarez, and engineered by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
A Nobel prize for explaining why there's global inequality with full AI transcript and summary
Update: 2024-12-14
Duration: 00:28:29
Shownotes: Why do some nations fail and others succeed?In the late 1990s and early 2000s, three economists formed a partnership that would revolutionize how economists think
Duration: 00:28:29
Shownotes: Why do some nations fail and others succeed?In the late 1990s and early 2000s, three economists formed a partnership that would revolutionize how economists think
about global inequality. Their work centered on a powerful — and almost radically obvious — idea: that the economic fate of nations is determined by how societies organize themselves. In other words, the economists shined a spotlight on the power of institutions, the systems, rules, and structures that shape society.We spoke with two of the Nobel-winning economists about their research on why some countries are rich and others are poor, why it took so long for economics to recognize the power of institutions, and what the heck those even are.This episode was hosted by Jeff Guo and Greg Rosalsky. It was produced by Willa Rubin with help from James Sneed. It was edited by Martina Castro and fact-checked by Sierra Juarez. Engineering by Gilly Moon with help from James Willetts. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Worst. Tariffs. Ever. (update) with full AI transcript and summary
Update: 2024-12-11
Duration: 00:26:32
Shownotes: The Smoot Hawley Tariffs were a debacle that helped plunge America into the Great Depression. What can we learn from them?Today on the show, we
Duration: 00:26:32
Shownotes: The Smoot Hawley Tariffs were a debacle that helped plunge America into the Great Depression. What can we learn from them?Today on the show, we
tell the nearly 100-year-old story of Smoot and Hawley, that explains why Congress decided to delegate tariff power to the executive branch in the first place. It's a story that weaves in wool, humble buckwheat, tiny little goldfish, and even Ferris Bueller... Anyone? Anyone?It's also what set the stage for the Trump tariffs. President-elect Donald Trump enacted a heap of import taxes in his first term, in particular on goods from China. President Biden's administration largely kept those tariffs in place, and levied new tariffs as well, on electric vehicles and solar panels.And now, as Trump's second presidency is on the horizon, he has promised even more tariffs on Mexico, Canada, China, and even on all imports across the board.And now, as Trump's second presidency is on the horizon, he has promised even more tariffs on Mexico, Canada, China, and even on all imports across the board.We update this classic episode about the Smoot Hawley Tariffs, and review the impact of more recent efforts from Trump and Biden alike.Help support Planet Money by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney. You get bonus episodes!Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
There Will Be Flood with full AI transcript and summary
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Update: 2024-12-07
Duration: 00:31:17
Shownotes: Windell Curole spent decades working to protect his community in southern Louisiana from the destructive flooding caused by hurricanes. His local office in South Lafourche
Duration: 00:31:17
Shownotes: Windell Curole spent decades working to protect his community in southern Louisiana from the destructive flooding caused by hurricanes. His local office in South Lafourche
partnered with the federal government's Army Corps of Engineers to build a massive ring of earthen mounds – also known as levees – to keep the floodwaters at bay.But after Hurricane Katrina called into question the integrity of those levees, Windell decided to take a gamble that put him at odds with his partners in the Army Corps. He decided that the best thing he could do to protect his community was to go rogue and build his levees as tall as possible as quickly as possible, without federal permission.On today's show, what the story of Windell's levee can teach us about how the federal government calculates and manages the risk of natural disasters, and how those calculations can look a lot different to the people staring straight into the eye of the storm.This episode was hosted by Alexi Horowitz-Ghazi and Mary Childs. It was produced by Emma Peaslee and edited by Jess Jiang. It was fact checked by Sierra Juarez and engineered by Valentine Rodriguez Sanchez. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
George Soros vs. the Bank of England with full AI transcript and summary
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Update: 2024-12-04
Duration: 00:30:40
Shownotes: As people learn more about Donald Trump's pick for Treasury Secretary, Scott Bessent, one story comes up over and over: a legendary trade that he
Duration: 00:30:40
Shownotes: As people learn more about Donald Trump's pick for Treasury Secretary, Scott Bessent, one story comes up over and over: a legendary trade that he
played a small part in while he worked at George Soros' hedge fund in the 1990s. In 1992, Soros' fund set its sights on the British pound, betting that some time in the fall of that year, the pound would plummet in value. Opposing them in this trade was the Bank of England, which was determined to keep its currency stable. The financial battle that followed was intense and proved to be a watershed moment in the balance of power between markets and governments.On today's show, we speak to Robert Johnson, a former managing director at Soros' fund, for a blow-by-blow account of those fateful days in 1992. This episode was hosted by Keith Romer and Alex Goldmark. It was produced by Willa Rubin and edited by Martina Castro. It was fact-checked by Sierra Juarez and engineered by Cena Loffredo. Alex Goldmark is Planet Money's executive producer. Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Always free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
How useful, really, are the steps you can take after a data breach? with full AI transcript and summary
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Update: 2024-12-03
Duration: 00:20:09
Shownotes: The dreaded data breach notification... It tells you your personal data's been compromised and suggests steps you can take to minimize the potential harm. On
Duration: 00:20:09
Shownotes: The dreaded data breach notification... It tells you your personal data's been compromised and suggests steps you can take to minimize the potential harm. On
today's episode, Kenny Malone pulls out a data breach letter he received and goes over what it recommends with Amanda Aronczyk. Amanda recently did a show about the legal and illegal markets for data and tells us how useful these steps actually are. It's news you can use to protect yourself, whether or not you've been part of a data breach.This normally would be a bonus episode just for Planet Money+ listeners. With this being the season of giving though, we're sharing this one with everyone! To hear more bonus content like this, regular episodes sponsor-free, and support the work of NPR, sign up for Planet Money+ at plus.npr.org. Related links:Data Breach Response: A Guide for Business (FTC)Have you been affected by a data breach? (FTC)Your Technology Is Tracking You. Take These Steps For Better Online Privacy (Life Kit)What happens after you get scammed? Can you get your money back? (Planet Money)Firewalls Don't Stop Dragons (cybersecurity and privacy podcast) Experian (credit bureau)TransUnion (credit bureau) Equifax (credit bureau) Always free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Why you bought your couch with full AI transcript and summary
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Update: 2024-11-27
Duration: 00:26:15
Shownotes: You probably own a chair or a table or a sofa. And you probably think you know why you bought it. Because it was comfy.
Duration: 00:26:15
Shownotes: You probably own a chair or a table or a sofa. And you probably think you know why you bought it. Because it was comfy.
Or blue. Or the right price. But what if the style, the color, the cost, maybe even whether you would like it, were choices made for you years before you even thought about buying that piece of furniture.Today on the show: The city that makes or breaks the furniture world. We travel to High Point, North Carolina and meet the people who make the bets – on whether or not you'll want that comfy blue couch.This episode was hosted by Amanda Aronczyk and Erika Beras. It was produced by James Sneed with help from Willa Rubin. It was edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Title Pirates with full AI transcript and summary
Update: 2024-11-23
Duration: 00:25:30
Summary: In this episode of Planet Money titled 'Title Pirates,' hosts Erika Beras and Jeff Guo explore the alarming vulnerabilities within the U.S. real estate system
Duration: 00:25:30
Summary: In this episode of Planet Money titled 'Title Pirates,' hosts Erika Beras and Jeff Guo explore the alarming vulnerabilities within the U.S. real estate system
through the experience of Gina Leto, a developer who unknowingly purchased a property with a fraudulent title. This unsettling incident reveals significant risks in property transactions, where decentralized registries do not certify ownership, and title insurance, while intended to protect buyers, failed to prevent fraud. As the term 'Title Pirates' emerges to describe criminals exploiting these system weaknesses, the episode underscores the complexities and dangers inherent in the real estate market.
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Shownotes: A couple years ago, Gina Leto, a real estate developer, bought a property with her business partner. The process went like it usually did: Lots
of paperwork; a virtual closing. Pretty cut-and-dry. Gina and her partner started building a house on the property.But $800,000 into the construction process, Gina got a troubling call from her lawyer. There was something wrong. At first, Gina thought the house had burned down. It turned out that the situation was... maybe worse.On today's show: Buying land seems pretty secure, right? There's so much paperwork and verification along the way. But a messy system of how titles are sold, transferred and documented makes a perfect entry point for a new kind of criminal: Title Pirates.Today's episode was hosted by Erika Beras and Jeff Guo. It was produced by Sam Yellowhorse Kesler. It was edited by Liza Yeager. Fact-checking by Sarah McClure. Engineering by Valentina Rodríguez Sánchez. Planet Money's executive producer is Alex Goldmark.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
The long view of economics and immigration (Two Indicators) with full AI transcript and summary
Update: 2024-11-21
Duration: 00:15:58
Summary: In this episode of Planet Money, the historical context of U.S. immigration policies is explored, particularly focusing on the Chinese Exclusion Act of 1882. This
Duration: 00:15:58
Summary: In this episode of Planet Money, the historical context of U.S. immigration policies is explored, particularly focusing on the Chinese Exclusion Act of 1882. This
law, originally intended to bolster the U.S. economy, led to significant reductions in the Chinese labor supply and had unintended negative consequences for both Chinese immigrants and white U.S.-born workers. The discussion emphasizes the multifaceted contributions of immigrants to economic growth, including their roles in filling labor shortages, driving innovation, and enhancing public finances. The episode underscores the need for careful consideration of immigration policies and highlights the overall positive impact of immigrants on the economy.
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Shownotes: Mass deportations. What would actually happen—economically—if the President-elect follows through on promises to deport millions of people from America.We don't have to guess.Today we have
two stories from Planet Money's daily podcast, The Indicator. First, the story from another time the US cracked down on immigration with the expressed intent of helping the economy. We look at how that worked out. And then we distill 20 years of research on immigrants and economic growth. What does immigration do for an economy? What types of immigration help? And who benefits?Our most recent newsletter goes into more depth on some of this. Part one of two here. Subscribe to our newsletter here.This episode is hosted by Adrian Ma, Darian Woods, and Wailin Wong. These episodes of The Indicator were originally produced by Cooper Katz McKim and Julia Ritchey, and engineered by Kwesi Lee and Maggie Luthar. They were fact-checked by Angel Carreras and Sierra Juarez. Kate Concannon is The Indicator's Editor.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
The great German land lottery with full AI transcript and summary
Update: 2024-11-16
Duration: 00:28:55
Summary: In this episode of NPR's Planet Money titled 'The great German land lottery,' hosts Erika Beras and Emma Peaslee explore the Osingverlosung, a centuries-old tradition
Duration: 00:28:55
Summary: In this episode of NPR's Planet Money titled 'The great German land lottery,' hosts Erika Beras and Emma Peaslee explore the Osingverlosung, a centuries-old tradition
in Germany where farmers randomly reassess communal farmland every decade. This unique lottery aims to promote fairness and minimize conflicts within the farming community, as demonstrated through the experiences of participants like Friedrich Neuser. The episode captures the emotional stakes involved, the inefficiencies of the process, and the subsequent trading that follows the lottery to enhance land productivity, highlighting the delicate balance between fairness and efficiency in resource allocation.
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Shownotes: Every ten years, a group of German farmers gather in the communal farm fields of the Osing for the Osingverlosung, a ritual dating back centuries.
Osing refers to the area. And verlosung means "lottery," as in a land lottery. All of the land in this communal land is randomly reassigned to farmers who commit to farming it for the next decade.Hundreds of years ago, a community in Germany came up with their own, unique solution for how to best allocate scarce resources. For this community, the lottery is a way to try and make the system of land allotment more fair and avoid conflict.Today on the show, we go to the lottery and follow along as every farmer has a shot at getting the perfect piece of land — or the absolute worst piece of land! And we see what we can learn from this living, medieval tradition that tries to balance fairness and efficiency.This episode was hosted by Erika Beras and Emma Peaslee. It was produced by Emma Peaslee. It was edited by Jess Jiang. Reporting help from Sofia Shchukina. It was fact checked by Sierra Juarez. It was engineered by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
The strange way the world's fastest microchips are made with full AI transcript and summary
Update: 2024-11-13
Duration: 00:26:42
Summary: This episode of Planet Money explores the groundbreaking technology of extreme ultraviolet lithography, developed by the Dutch company ASML, which enables the precise etching of
Duration: 00:26:42
Summary: This episode of Planet Money explores the groundbreaking technology of extreme ultraviolet lithography, developed by the Dutch company ASML, which enables the precise etching of
billions of circuits on silicon wafers necessary for modern microchips, including those used in AI. The narrative traces the technology's origins and the skepticism faced during its development, the importance of significant investments from U.S. tech companies, and the transition of commercialization to ASML amid geopolitical tensions and national security concerns surrounding microchip exports to China.
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Shownotes: This is the story behind one of the most valuable — and perhaps, most improbable — technologies humanity has ever created. It's a breakthrough called
extreme ultraviolet lithography, and it's how the most advanced microchips in the world are made. The kind of chips powering the latest AI models. The kind of chips that the U.S. is desperately trying to keep out of the hands of China.For years, few thought this technology was even possible. It still sounds like science fiction: A laser strong enough to blast holes in a bank vault hits a droplet of molten tin. The droplet explodes into a burst of extreme ultraviolet light. That precious light is funneled onto a wafer of silicon, where it etches circuits as fine as a strand of DNA. Only one company in the world that can make these advanced microchip etching machines: a Dutch firm called ASML.Today on the show, how this breakthrough in advanced chipmaking happened — and how it almost didn't. How the long-shot idea was incubated in U.S. nuclear weapons laboratories and nurtured by U.S. tech giants. And, why a Dutch company now controls it.This episode was hosted by Jeff Guo and Sally Helm. It was produced by Willa Rubin and edited by Jess Jiang. It was fact-checked by Dania Suleman, and engineered by Patrick Murray. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
What markets bet President Trump will do with full AI transcript and summary
Update: 2024-11-09
Duration: 00:26:37
Summary: In the Planet Money episode titled 'What markets bet President Trump will do,' hosts analyze the stock market's reaction to Donald Trump's election as the
Duration: 00:26:37
Summary: In the Planet Money episode titled 'What markets bet President Trump will do,' hosts analyze the stock market's reaction to Donald Trump's election as the
47th president. The discussion focuses on how financial markets responded, with major indices hitting record highs based on Trump's promise to cut corporate taxes. Key sectors such as banking, cryptocurrency, and technology surged due to anticipated deregulation, while tariffs raised concerns for businesses reliant on imports. The episode also highlights the treasury bond market's response, predicting higher inflation and interest rates as a result of potential tax cuts and government spending under Trump's leadership.
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Shownotes: On the day after the election, Wall Street responded in a dramatic way. Some stocks went way up, others went way down. By reading those
signals — by breaking down what people were buying and what they were selling — you can learn a lot about where the economy might be headed. Or at least, where people are willing to bet the economy is headed.On today's show, we decode what Wall Street thinks about the next Trump presidency — what it means for different parts of the economy, and what it means for everyone. Does the wisdom of the market think President Trump will actually impose new tariffs and lift regulations? What about taxes and spending? And will inflation ultimately go up or down?What markets bet President Trump will do. That's today's episode.This episode was hosted by Jeff Guo, Sally Helm, Erika Beras, and Keith Romer. It was produced by Sam Yellowhorse Kesler and Willa Rubin. It was edited by Martina Castro and fact-checked by Sierra Juarez. Engineering by Gilly Moon. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Moving to the American dream? (update) with full AI transcript and summary
Update: 2024-11-07
Duration: 00:23:59
Summary: In this episode of NPR's Planet Money, the hosts examine a 1990s federal experiment by HUD that explored whether moving low-income families from high-poverty to
Duration: 00:23:59
Summary: In this episode of NPR's Planet Money, the hosts examine a 1990s federal experiment by HUD that explored whether moving low-income families from high-poverty to
low-poverty neighborhoods could enhance economic outcomes. Initial findings were unexpected, indicating that while relocation didn't significantly impact education or earnings, it did yield benefits in health, particularly for girls. New insights from IRS data reveal that children moving at a younger age can expect better future outcomes, emphasizing the importance of neighborhood quality in achieving upward mobility and reshaping housing policies across the U.S.
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Shownotes: Back in the 90s, the federal government ran a bold experiment, giving people vouchers to move out of high-poverty neighborhoods into low-poverty ones. They wanted
to test if housing policy could be hope – whether an address change alone could improve jobs, earnings and education.The answer to that seems obvious. But it did not at all turn out as they expected.Years later, when new researchers went back to the data on this experiment, they stumbled on something big. Something that is changing housing policy across the country today.Today's episode was originally hosted by Karen Duffin, produced by Aviva DeKornfeld, and edited by Bryant Urstadt. The update was hosted by Amanda Aronczyk, produced by Sean Saldana and fact checked by Sierra Juarez. Our supervising executive producer is Alex Goldmark.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
The veteran loan calamity with full AI transcript and summary
Update: 2024-11-02
Duration: 00:36:48
Summary: In this episode of Planet Money, NPR explores the challenges military veterans faced with the VA loan forbearance program during the COVID pandemic. The struggle
Duration: 00:36:48
Summary: In this episode of Planet Money, NPR explores the challenges military veterans faced with the VA loan forbearance program during the COVID pandemic. The struggle
of Ray and Becky Queen illustrates how mismanagement within the VA system left veterans at risk of foreclosure after the promised temporary relief did not materialize. The episode highlights systemic failures in veterans' financial support mechanisms, contrasting their experiences with protections afforded to other homeowners, and raises concerns about the adequacy of economic support systems in times of crisis.
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Shownotes: Ray and Becky Queen live in rural Oklahoma with their kids (and chickens). The Queens were able to buy that home with a VA loan
because of Ray's service in the Army. During COVID, the Queens – like millions of other Americans – needed help from emergency forbearance. They were told they could pause home payments for up to a year and then pick up again making affordable mortgage payments with no problems.That's what happened for most American homeowners who took forbearance. But not for tens of thousands of military veterans like Ray Queen.On today's show, we follow two reporters' journey to figure out what went wrong with the VA's loan forbearance program. How did something meant to help vets keep their houses during COVID end up stranding tens of thousands of them on the brink of foreclosure? And, once the error was spotted, did the government do enough to make things right?Today's episode was produced by James Sneed. It was edited by Meg Cramer. And fact-checked by Dania Suleman. Engineering by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
So your data was stolen in a data breach with full AI transcript and summary
Update: 2024-10-31
Duration: 00:28:59
Summary: In this episode of NPR's "Planet Money," hosts Amanda Aronczyk and Keith Romer examine the consequences of the Ticketmaster data breach, where personal information of
Duration: 00:28:59
Summary: In this episode of NPR's "Planet Money," hosts Amanda Aronczyk and Keith Romer examine the consequences of the Ticketmaster data breach, where personal information of
potentially millions of consumers was compromised. Attorney Jim Francis discusses legal notification requirements following data breaches, emphasizing the importance of understanding the risks associated with different types of personal information. The episode highlights the pervasive nature of stolen data markets, the legal sale of personal information, and the inadequate privacy regulations in the U.S. Amid growing digital threats, listeners are prompted to reflect on the vulnerability of their information and the implications of credit monitoring services.
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Shownotes: If you... exist in the world, it's likely that you have gotten a letter or email at some point informing you that your data was
stolen. This happened recently to potentially hundreds of millions of people in a hack that targeted companies like Ticketmaster, AT&T, Advance Auto Parts and others that use the data cloud company Snowflake.On today's show, we try to figure out where that stolen data ended up, how worried we should be about it, and what we're supposed to do when bad actors take our personal and private information. And: How our information is being bought, sold, and stolen.This episode was hosted by Amanda Aronczyk and Keith Romer. It was produced by Sam Yellowhorse Kesler and edited by Meg Cramer. It was engineered by Ko Takasugi-Czernowin with an assist from Kwesi Lee, and fact-checked by Dania Suleman. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Why do hospitals keep running out of generic drugs? with full AI transcript and summary
Update: 2024-10-26
Duration: 00:26:27
Summary: In this episode of Planet Money, hosts Sally Helm and Alexi Horowitz-Ghazi explore the ongoing crisis of generic drug shortages in U.S. hospitals. Jared Sibbitt,
Duration: 00:26:27
Summary: In this episode of Planet Money, hosts Sally Helm and Alexi Horowitz-Ghazi explore the ongoing crisis of generic drug shortages in U.S. hospitals. Jared Sibbitt,
an emergency nurse, discusses the daily challenges faced due to frequent unavailability of essential generic medications like dextrose and epinephrine. Despite their low costs, issues such as manufacturing problems, factory closures, and the complexities of the healthcare market contribute to these shortages. The lack of financial incentives for manufacturers and hospitals exacerbates the situation, leading to a reliance on workarounds that compromise patient care. The episode seeks to understand the market dynamics that have led to this pervasive issue and the potential solutions to improve drug supply chains.
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Shownotes: There's something strange going on in hospitals. Cheap, common drugs that nurses use every day seem to be constantly hit by shortages. These are often
generic drugs that don't seem super complicated to make, things like dextrose and saline (aka sugar water and salt water).So what's going on? The answer, as with anything in healthcare, is complicated.On today's show: why hospitals keep running out of generic drugs. The story behind these shortages tells us a lot about how these drugs are made, bought and sold–and, it shows us how these markets can falter without the proper care.This episode was hosted by Sally Helm and Alexi Horowitz-Ghazi. It was produced by Willa Rubin, with help from James Sneed and Sam Yellowhorse Kesler. It was edited by Martina Castro. Fact-checking by Dania Suleman. Planet Money's executive producer is Alex Goldmark.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Romance on the screen and on the page: Two Indicators with full AI transcript and summary
Update: 2024-10-24
Duration: 00:17:28
Summary: In this episode of Planet Money, hosts delve into the business of romance, exploring the rise of holiday romantic comedies on networks like Hallmark and
Duration: 00:17:28
Summary: In this episode of Planet Money, hosts delve into the business of romance, exploring the rise of holiday romantic comedies on networks like Hallmark and
the evolution of romance novels into a commercially successful genre. They discuss the mechanics behind Hallmark's production strategies, the role of tax incentives in Canada, and the challenges of modernizing scripts. Additionally, the episode highlights the significant income growth for romance authors due to digital self-publishing and the creation of supportive networks among writers, showcasing how both the film and literary markets have changed the landscape of romance media.
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Shownotes: On today's show, we have two stories from The Indicator, Planet Money's daily podcast. They just launched Love Week, a weeklong series exploring the business
and economic side of romance.First, hosts Wailin Wong and Adrian Ma fire up the gas logs and pour a mug of cocoa to discuss the made-for-TV rom-com machine, and how television executives learned to mass produce seasonal romance.Then, Wailin and host Darian Woods discuss another romance medium: the romance novel. Once relegated to supermarket aisles, these books are now mainstream. And authors, an often-maligned group within publishing, have found greater commercial success than many writers in other genres. We find out how romance novelists rode the e-book wave and networked with each other to achieve their happily-for-now status in the industry.This episode is hosted by Erika Beras, Wailin Wong, Adrian Ma, and Darian Woods. These episodes of The Indicator were originally produced by Julia Ritchey and engineered by Kwesi Lee. They were fact-checked by Sierra Juarez. Kate Concannon is The Indicator's Editor.You can listen to the rest of the series at The Indicator's feed, or at npr.org/loveHelp support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
The Subscription Trap with full AI transcript and summary
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Update: 2024-10-19
Duration: 00:30:55
Shownotes: Over the past two decades, there's been a sort of tectonic economic shift happening under our feet. More and more companies have switched from selling
Duration: 00:30:55
Shownotes: Over the past two decades, there's been a sort of tectonic economic shift happening under our feet. More and more companies have switched from selling
goods one by one to selling services, available as a subscription. These days everything from razor blades to meal kits to car washes have become subscriptions. But all that convenience has also come with a dark side – some companies have designed their offerings to be as easy as possible to sign up for and also as difficult as possible to cancel. Many consumers are now paying for way more subscriptions than they even know about.On today's show, we discover how we all fell into this subscription trap – who is winning and who is losing in this brave new subscription based world – and what both the government and the free market are doing to try and fix it.This episode was hosted by Alexi Horowitz-Ghazi and Jeff Guo. It was produced by James Sneed. It was edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Valentina Rodriguez Sanchez. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
We asked 188 economists. And the survey says... with full AI transcript and summary
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Update: 2024-10-16
Duration: 00:21:23
Shownotes: (For our story on this year's Nobel in Economics, check out our daily show, The Indicator!)Let's face it. Economics is filled with terms that don't
Duration: 00:21:23
Shownotes: (For our story on this year's Nobel in Economics, check out our daily show, The Indicator!)Let's face it. Economics is filled with terms that don't
always make sense to the average person. Terms that sometimes mean what you think they mean, but sometimes not at all. Not even close.We surveyed 188 economists. And we asked them: What are the most misunderstood terms in the field of economics?On today's show, their answers! Hear stories about near recessions, a problem with insurance, econ at your local movie theater, and... an economics term that will make undergrads blush. Strap in, and bring your popcorn!This episode was hosted by Amanda Aronczyk and Alexi Horowitz-Ghazi. It was produced by Sam Yellowhorse Kesler with help from Sean Saldana. It was edited by Jess Jiang, engineered by Valentina Rodríguez Sánchez and fact-checked by Sierra Juarez. Alex Goldmark is our executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
So imPORTant: Bananas, frogs, and... Bob's?? with full AI transcript and summary
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Update: 2024-10-12
Duration: 00:25:51
Shownotes: Even in our modern world with planes and jets and drones, the vast majority of goods are moved around the planet in cargo ships. Which
Duration: 00:25:51
Shownotes: Even in our modern world with planes and jets and drones, the vast majority of goods are moved around the planet in cargo ships. Which
means our ports are the backbone of our global economy. The longshoremans' strike closed the eastern ports for only three days, but those three days raised a lot of questions.Like - why is a discount furniture store the fourth largest importer on the East Coast? How come so many bananas come through Wilmington, Delaware? Why do we need live frogs delivered into the US six times a month? And... how do we even keep track of all of these imports? On today's episode, we get into #PortFacts!This episode was hosted by Kenny Malone and Amanda Aronczyk. It was produced by Sam Yellowhorse Kesler. It was edited by Audrey Quinn, and fact-checked by Dania Suleman. Engineering by Cena Loffredo and Kwesi Lee with an assist from Valentina Rodriguez Sanchez. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Can cap and trade work in the US? with full AI transcript and summary
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Update: 2024-10-10
Duration: 00:24:05
Shownotes: Recently, the state of Washington embarked on an ambitious new plan to combat climate change. Taking a page from economics textbooks, the state instituted a
Duration: 00:24:05
Shownotes: Recently, the state of Washington embarked on an ambitious new plan to combat climate change. Taking a page from economics textbooks, the state instituted a
statewide "cap and trade" system for carbon emissions. The state establishes a cap on the total amount of carbon pollution it is willing to allow each year, and then gives away or auctions off carbon emission permits that add up to that total. Companies can then trade those permits on the open market.Economists love cap and trade plans because they establish a limit on carbon emissions while letting the market find the most efficient way for decarbonization to occur. But cap and trade has had a hard time catching on, especially in the U.S.The stakes are high for Washington's new plan. If it succeeds, it could convince other states to implement their own versions, but if it fails, it might serve as a cautionary tale. On today's show, we take a look at how Washington's grand experiment with cap and trade is faring.This episode was hosted by Keith Romer and Kenny Malone. It was produced by Emma Peaslee and edited by Emily Siner. It was fact checked by Sierra Juarez and engineered by Valentina Rodriguez Sanchez. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
What's up with all the ads for law firms? with full AI transcript and summary
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Update: 2024-10-05
Duration: 00:18:54
Shownotes: The lawyer commercial is almost an art form unto itself. Learned practitioners of the law doing whatever it takes to get your attention, from impressive
Duration: 00:18:54
Shownotes: The lawyer commercial is almost an art form unto itself. Learned practitioners of the law doing whatever it takes to get your attention, from impressive
dirt bike stunts to running around half naked. All so when you land in trouble, you don't have to think hard to remember their name. Odds are you can name one or two right now.This world of law ads did not exist fifty years ago. Then, lawyers were not allowed to advertise. Not by law, by the exclusive organization that decides who gets to be a lawyer: state bars.On today's episode, how that changed. How a couple of lawyers placing an ad in a local newspaper led to the inescapable world of law firm ads we know today. And, how the right to advertise got put on the same level as some of the most important, fundamental rights we have.This episode was hosted by Nick Fountain and Jeff Guo. It was produced by Sam Yellowhorse Kesler with help from Sean Saldana. It was edited by Jess Jiang. It was fact-checked by Sierra Juarez and engineered by Valentina Rodríguez Sánchez. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
How Venezuela imploded (update) with full AI transcript and summary
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Update: 2024-10-03
Duration: 00:23:09
Shownotes: (Note: A version of this episode originally ran in 2016.)Back in 2016, things were pretty bad in Venezuela. Grocery stores didn't have enough food. Hospitals
Duration: 00:23:09
Shownotes: (Note: A version of this episode originally ran in 2016.)Back in 2016, things were pretty bad in Venezuela. Grocery stores didn't have enough food. Hospitals
didn't have basic supplies, like gauze. Child mortality was spiking. Businesses were shuttering. It's one of the epic economic collapses of our time. And it was totally avoidable.Venezuela used to be a relatively rich country. It has just about all the economic advantages a country could ask for: Beautiful beaches and mountains ready for tourism, fertile land good for farming, an educated population, and oil, lots and lots of oil.But during the boom years, the Venezuelan government made some choices that add up to an economic time bomb.Today on the show, we have an economic horror story about a country that made all the wrong decisions with its oil money. It's a window into the fundamental way that money works and how when you try to control it, you can lose everything.Then, an update on Venezuela today. How it went from a downward spiral, to a tentative economic stabilization... amidst political upheaval.This original episode is hosted by Robert Smith and Noel King. It was produced by Nick Fountain and Sally Helm. Today's update was hosted by Amanda Aronczyk, produced by Sean Saldana, fact checked by Sierra Juarez, and engineered by Neal Rauch. Alex Goldmark is our Executive Producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
What's THAT got to do with economics? with full AI transcript and summary
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Update: 2024-09-28
Duration: 00:25:59
Shownotes: "Wanna see a trick? Give us any topic and we can tie it back to the economy."That is the bold promise in Planet Money's tagline.
Duration: 00:25:59
Shownotes: "Wanna see a trick? Give us any topic and we can tie it back to the economy."That is the bold promise in Planet Money's tagline.
And we believe the show does live up to it. Over the last year, we've told stories about breakdancing, rum, pagers, buffets, colors, and heartbreak.But then one host wondered: what if we really held ourselves to that promise? What if we challenged ourselves to find economic meaning in the most esoteric and far-flung topics imaginable?That's when we turned to you, our listeners. And boy did you deliver. You sent in ideas so obscure, so banananas, so guaranteed to stump and bamboozle that our host maybe started to regret her life choices...but she was resolved to give it a try. This episode was hosted by Sally Helm and Keith Romer. It was produced by James Sneed. It was edited by Molly Messick and fact-checked by Sierra Juarez. Engineering by Kwesi Lee. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Veep-onomics with full AI transcript and summary
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Update: 2024-09-26
Duration: 00:25:05
Shownotes: Next week, JD Vance and Tim Walz will face off in the only confirmed vice presidential debate ahead of the election. As voters look ahead
Duration: 00:25:05
Shownotes: Next week, JD Vance and Tim Walz will face off in the only confirmed vice presidential debate ahead of the election. As voters look ahead
to what their economic policies might be, we look back to see what they have said and done, and how it turned out.Planet Money's newsletter author Greg Rosalsky has spent some time combing through the economic records of Vance and Walz, and has some knowledge to share. Why does Walz support universal free school lunches, and why do some criticize him for it? Why have some called Vance a "Khan-servative?" And, how much do these candidates represent a break from the past?This episode was hosted by Nick Fountain and Greg Rosalsky. It was produced by James Sneed and Emma Peaslee. It was edited by Meg Cramer. Sierra Juarez fact-checked it, and it was engineered by Valentina Rodríguez Sánchez. Alex Goldmark is Planet Money's Executive Producer. Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
How to save 10,000 fingers with full AI transcript and summary
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Update: 2024-09-21
Duration: 00:24:28
Shownotes: Table saws are extremely dangerous. The government estimates that injuries from table saws send something like 30,000 people to the emergency room every year. 3,000
Duration: 00:24:28
Shownotes: Table saws are extremely dangerous. The government estimates that injuries from table saws send something like 30,000 people to the emergency room every year. 3,000
of those end in amputations. The costs of those injuries are enormous. Are they also avoidable?In 1999, inventor Steve Gass had a realization: Humans conduct electricity pretty well; Wood does not. Could he develop a saw that could tell the difference between the two?Steve invented a saw that can detect a finger and stop the blade in milliseconds. Then, he tried to license it to the big tool companies. He thought it was a slam dunk proposition: It would dramatically reduce the injuries, and the cost of medical treatments and lost wages associated with them.On today's episode: What does it take to make table saws safer? When someone gets hurt by a power tool, there are tons of costs, tons of externalities. We all bear the cost of the injury, in some way. So, it can be in society's best interest to minimize those costs. We follow Steve's quest to save thousands of fingers. It brought him face-to-face with roomfuls of power tool company defense attorneys, made him the anti-hero of the woodworking world, and cost the lives of many, many hot dogs.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Can money buy happiness? with full AI transcript and summary
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Update: 2024-09-19
Duration: 00:28:48
Shownotes: People often say that money can't buy you happiness. Sometimes, if you ask them to tell you more about it, they'll mention a famous 2010
Duration: 00:28:48
Shownotes: People often say that money can't buy you happiness. Sometimes, if you ask them to tell you more about it, they'll mention a famous 2010
study by Nobel Prize winners Daniel Kahneman and Angus Deaton. That study found that higher household income correlates with greater emotional well-being, but only up to around $75,000 a year. After that, more money didn't seem to matter.This was a famous study by two famous academics. The result stood for over a decade. And it feels good, right? Maybe the rich aren't so much happier than anyone else. But researchers have recently done a complete 180 on this idea. In 2021, psychologist Matt Killingsworth found nearly the opposite: That more money does correlate with more happiness. And that the relationship continues well beyond $75,000 per year.Today on the show: Does more money mean fewer problems? Two researchers with totally different takes come together to hammer out a better understanding of the relationship between money and happiness.This episode was hosted by Sally Helm and Nick Fountain. It was produced by Sean Saldana, Sam Yellowhorse Kesler, and Emma Peaslee. It was edited by Meg Cramer and fact-checked by Sierra Juarez. Engineering by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
99 Percent Invisible: The White Castle System of Eating Houses with full AI transcript and summary
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Update: 2024-09-16
Duration: 00:32:43
Shownotes: Today we have a guest episode from 99 Percent Invisible.It is about White Castle, the burger chain. Even if you haven't visited, you have tasted
Duration: 00:32:43
Shownotes: Today we have a guest episode from 99 Percent Invisible.It is about White Castle, the burger chain. Even if you haven't visited, you have tasted
its influence because, as we will learn in this episode, White Castle is really the proto-burger chain.Our friends at the excellent podcast 99 Percent Invisible bring us the origin story of White Castle and trace its influence on the business of fast food, and on American eating habits. The story is about one man who had an idea for a world where you could get a slider anywhere in the country and get the same tasty, onion-y quality each time. Think of this as a forebear of the modern global economy of sameness.This episode is hosted by Roman Mars and reported by Mackenzie Martin. It was produced by Jeyca Maldonado-Medina, and edited by Joe Rosenberg. Mix and sound design by Martín Gonzalez. Music by Swan Real with additional music by Jenny Conlee, Nate Query, and John Neufeld. Fact-checking by Graham Hacia. Kathy Tu is 99 Percent Invisible's executive producer. Kurt Kohlstedt is their digital director, and Delaney Hall is their senior editor.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Rate Expectations with full AI transcript and summary
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Update: 2024-09-14
Duration: 00:23:13
Shownotes: The Federal Reserve raised interest rates to get inflation under control. One side effect is that taking out a mortgage to buy a home has
Duration: 00:23:13
Shownotes: The Federal Reserve raised interest rates to get inflation under control. One side effect is that taking out a mortgage to buy a home has
gotten very expensive. That's especially a problem for some homeowners who managed to get a lower mortgage rate years ago. They have a sort of... champagne problem. Or, "golden handcuffs" as it's called.These homeowners may find they are "locked in" to their current home. In order to move to a new home, they have to take out a new mortgage at a much higher rate. It is one of the many problems plaguing the housing market right now.The Fed is expected to start cutting rates next week. Will the golden handcuff mess finally start to unlock? And what does it mean for people looking to buy their first home?On today's episode: We go deep into the golden handcuff problem and why it matters for everyone (including non-homeowners). We have FOMO about a big economic symposium in Jackson Hole, Wyoming. And we contemplate how to pronounce one of the most important interest rates in the economy: The IORB.This episode was hosted by Kenny Malone and Alexi Horowitz-Ghazi. It was produced by Sean Saldana. It was edited by Jess Jiang and fact-checked by Sierra Juarez. Engineering by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Is AI overrated or underrated? with full AI transcript and summary
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Update: 2024-09-12
Duration: 00:18:50
Shownotes: Are the promises made by AI boosters all hype, or are we actually under-appreciating the transformative potential of AI?Can artificial intelligence make humans more productive,
Duration: 00:18:50
Shownotes: Are the promises made by AI boosters all hype, or are we actually under-appreciating the transformative potential of AI?Can artificial intelligence make humans more productive,
unlock hidden potential and remake work as we know it? Or, should it not even be called intelligence at all, artificial or otherwise.On today's episode, we take sides. Two reporters flip a coin to see who argues which point: is AI overrated or underrated? They bring research, real world examples, expert opinions and warm blooded human insight. You decide who makes the best case.If you're interested in learning more, check out Greg's article 10 reasons why AI is overrated. It includes all sorts of reporting we couldn't fit into the episode. And while you're there, subscribe to the Planet Money newsletter.Today's episode was hosted by Darian Woods and Greg Rosalsky. These episodes of the Indicator were originally produced by Corey Bridges and they were edited by Paddy Hirsch. They were engineered by Valentina Rodríguez Sánchez and Neal Rauch and they were fact checked by Sierra Juarez. Kate Concannan is the Indicator's editor.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Summer camp capitalism with full AI transcript and summary
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Update: 2024-09-07
Duration: 00:33:32
Shownotes: Summer camp is a classic rite of passage in the U.S. It's a place of self-discovery, where kids come to make new friends and take
Duration: 00:33:32
Shownotes: Summer camp is a classic rite of passage in the U.S. It's a place of self-discovery, where kids come to make new friends and take
on new challenges. But what if it were ALSO a place where children came to learn how to survive in a free market economy?That's part of the idea behind a summer camp at JA BizTown, in Portland, Oregon. Kids at the camp run tiny fake businesses in a tiny fake town. There are retail stores and restaurants, insurance companies and power utilities. As camp begins, a gaggle of child CEOs take out business loans from their peers in the tiny fake banking industry – and they spend the day racing to run their businesses profitably enough to get out of debt before pickup time. On today's show, Planet Money takes a romp through capitalism summer camp. Will the children of BizTown be able to make ends meet and pay back their loans to the banks? Or will a string of defaults send this dollhouse economy into financial collapse? It's Shark Tank meets Lord of the Flies.This episode was hosted by Alexi Horowitz-Ghazi and Sally Helm. It was produced by James Sneed, and edited by Jess Jiang. It was fact-checked by Sierra Juarez and engineered by Gilly Moon. Planet Money's executive producer is Alex Goldmark.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Bingo! (Presidential debate edition) with full AI transcript and summary
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Update: 2024-09-05
Duration: 00:29:14
Shownotes: Campaigns can be a jargony slog. And this year, we are seeing a lot of economic terms being thrown around, many of which... aren't entirely
Duration: 00:29:14
Shownotes: Campaigns can be a jargony slog. And this year, we are seeing a lot of economic terms being thrown around, many of which... aren't entirely
straightforward.In this episode, we try to make the mess of words that accompany a presidential campaign into something a little less exhausting: A game of bingo.Follow along as we dig into five terms that we expect to hear in the upcoming presidential debate, along with some others we hope to hear.You can play along, too, at npr.org/bingo. Play online or print cards to play with friends on debate night!This episode was hosted by Nick Fountain and Erika Beras. It was produced by Sam Yellowhorse Kesler with help from Emma Peaslee. It was edited by Meg Cramer. It was fact-checked by Sierra Juarez and engineered by Cena Loffredo. Alex Goldmark is our executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
How to fix a housing shortage with full AI transcript and summary
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Update: 2024-08-31
Duration: 00:23:29
Shownotes: When Cody Fischer decided to get into real estate development, he had a vision. He wanted to build affordable, energy efficient apartments in Minneapolis, not
Duration: 00:23:29
Shownotes: When Cody Fischer decided to get into real estate development, he had a vision. He wanted to build affordable, energy efficient apartments in Minneapolis, not
far from where he grew up.His vision was well-timed because, in 2019, Minneapolis's city council passed one of the most ambitious housing plans in the nation. One aim of that plan was to alleviate the city's housing shortage by encouraging developers like Cody to build, build, build.But when Cody tried to build, he ran into problems. The kinds of problems that arise all over the country when cities confront a short supply of housing, and try to build their way out.Today on the show, NIMBYism, YIMBYism and why it's so hard to fix the housing shortage. Told through the story of two apartment buildings in Minneapolis.This episode was hosted by Amanda Aronczyk and Kenny Malone. It was produced by Emma Peaslee and Sofia Shchukina, and edited by Molly Messick. It was engineered by James Willets and fact-checked by Sierra Juarez. Alex Goldmark is Planet Money's executive producer. Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Summer School 8: Big ideas and life lessons from Marx, Keynes and Smith and more with full AI transcript and summary
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Update: 2024-08-29
Duration: 00:32:48
Shownotes: Take the 2024 Planet Money Summer School Quiz here to earn your personalized diploma!Find all the episodes from this season of Summer School here. And
Duration: 00:32:48
Shownotes: Take the 2024 Planet Money Summer School Quiz here to earn your personalized diploma!Find all the episodes from this season of Summer School here. And
past seasons here. And follow along on TikTok here for video Summer School. We are assembled here on the lawn of Planet Money University for the greatest graduation in history – because it features the greatest economic minds in history. We'll hear from Adam Smith, Karl Marx, John Maynard Keynes, and some surprising guests as they teach us a little bit more economics, and offer a lot of life advice. But first, we have to wrap up our (somewhat) complete economic history of the world. We'll catch up on the last fifty years or so of human achievement and ask ourselves, has economics made life better for us all? This series is hosted by Robert Smith and produced by Audrey Dilling. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Sofia Shchukina. Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
The trade fraud detective with full AI transcript and summary
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Update: 2024-08-24
Duration: 00:26:43
Shownotes: When David Rashid took over US autoparts maker Plews and Edelmann, the company was losing business to its Chinese rival, Qingdao Sunsong. Both companies make
Duration: 00:26:43
Shownotes: When David Rashid took over US autoparts maker Plews and Edelmann, the company was losing business to its Chinese rival, Qingdao Sunsong. Both companies make
power steering hoses, but Sunsong was offering its hoses to retailers at a much lower price.Then, in 2018, the Trump administration threw companies like Rashid's a lifeline, by announcing tariffs on a range of Chinese goods, including some autoparts. Rashid thought the tariffs would finally force Sunsong to raise its prices, but, somehow, the company never did.It was a mystery. And it led Rashid to take on a new role – amateur trade fraud investigator. How could his competitor, Sunsong, absorb that 25% tax without changing its prices? And why had all of Sunsong's steering hoses stopped coming from China and started coming from Thailand?On today's episode, the wide gulf between how tariffs work in theory... and how they actually work in practice. And David Rashid's quest to figure out what, if anything, he could do about it. It's a quest that will involve international detectives, forensic chemists, and a friendship founded on a shared love for hummus.This episode was hosted by Keith Romer and Jeff Guo. It was produced by Emma Peaslee and edited by Molly Messick. It was fact-checked by Sierra Juarez and engineered by Ko Takasugi-Czernowin. Alex Goldmark is our executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Summer School 7: The Great Depression, the New Deal and how it changed our economy with full AI transcript and summary
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Update: 2024-08-22
Duration: 00:35:29
Shownotes: Find all the episodes from this season here. And past seasons here. And follow along on TikTok here for video Summer School. When we last
Duration: 00:35:29
Shownotes: Find all the episodes from this season here. And past seasons here. And follow along on TikTok here for video Summer School. When we last
left the United States of America in our economic telling of history, it was the early 1900s and the country's leaders were starting to feel like they had the economic situation all figured out. Flash forward a decade or so, and the financial picture was still looking pretty good as America emerged from the first World War. But then, everything came crashing down with the stock market collapse of 1929. Businesses closed, banks collapsed, one in four people was unemployed, families couldn't make rent, the economy was broken. And this was happening all over the world. Today we'll look at how leaders around the globe intervened to turn the international economy around, and in the process, how the Great Depression rapidly transformed the relationship between government and business forever.This series is hosted by Robert Smith and produced by Audrey Dilling. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Sofia Shchukina.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Always free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
The hidden world behind your new "banking" app with full AI transcript and summary
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Update: 2024-08-17
Duration: 00:21:12
Shownotes: You might have seen ads for online banking services that seem to offer a lot of great stuff — accounts you can open in minutes
Duration: 00:21:12
Shownotes: You might have seen ads for online banking services that seem to offer a lot of great stuff — accounts you can open in minutes
and without a minimum balance or monthly fees. The ads seem to say: "These aren't your parents' boring old banks." But the truth is: Even though they might resemble banks, they aren't.These "bank-like" companies are a type of "fintech" or financial technology company. And this is a story about the potential risks of putting your money into these apps.Banks go through a whole regulatory gauntlet in order to exist. But, in the past several years, there has been a rise in fintechs that skirt regulations. And many of these pose a real threat to even the most savvy of depositors.When a little known tech company filed for bankruptcy a few months ago, thousands of people couldn't access the millions of dollars they saved. On today's show, we meet some of the people affected and learn what the fintech industry reveals about banking regulation.Today's show was hosted by Erika Beras and Sally Helm. It was produced by Sam Yellowhorse Kesler and Sofia Shchukina with help from James Sneed. It was edited by Jess Jiang and fact-checked by Kevin Volkl. It was engineered by Valentina Rodríguez Sánchez with help from James Willetts. Alex Goldmark is our executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Summer School 6: China, Taiwan and how nations grow rich with full AI transcript and summary
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Update: 2024-08-15
Duration: 00:36:24
Shownotes: Episodes each Wednesday through labor day. Find all the episodes from this season here. And past seasons here. And follow along on TikTok here for
Duration: 00:36:24
Shownotes: Episodes each Wednesday through labor day. Find all the episodes from this season here. And past seasons here. And follow along on TikTok here for
video Summer School. In the middle of the twentieth century, China and its neighbors in East Asia were poor, mostly rural economies. China had been wrecked by a brutal civil war. Taiwan became the home of people fleeing from that conflict. Japan and Korea were rebuilding after their own wars. And then in the later half of the twentieth century, they started their comeback. The governments made some explicit choices that unleashed the power of individual incentives and free market forces and lifted millions of people out of poverty. We focus specifically on China and Taiwan during this time, when they showed a burst of economic progress rarely seen on this globe. Why then? Why there? Can other nations copy that? We'll try to find out. This series is hosted by Robert Smith and produced by Audrey Dilling. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Sofia Shchukina. Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Will the Olympics break breakdancing? with full AI transcript and summary
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Update: 2024-08-10
Duration: 00:25:48
Shownotes: For some sports, picking the winner is simple: It's the athlete who crosses the finish line first, or the side that scores the most goals.
Duration: 00:25:48
Shownotes: For some sports, picking the winner is simple: It's the athlete who crosses the finish line first, or the side that scores the most goals.
But for the new Olympic sport of breaking (if you want to be cool, don't call it breakdancing), the criteria aren't quite that straightforward. How do you judge an event whose core values are dopeness, freshness, and breaking the rules? That was the challenge for Storm and Renegade, two legendary b-boys who set out to create a fair and objective scoring system for a dance they say is more of an art than a sport. Over the years, their journey to define the soul of breaking led them to meetings with Olympics bigwigs, debates over the science of dopeness, and a battle with a question many sports — from figure skating to gymnastics — have tried to answer: Can art and sport coexist? This episode was hosted by Jeff Guo and Alexi Horowitz-Ghazi. It was produced by Emma Peaslee and edited by Jenny Lawton. It was fact checked by Sierra Juarez and engineered by Valentina Rodríguez Sánchez with help from James Willets and Cena Loffredo. Alex Goldmark is Planet Money's executive producer. Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Summer School 5: 250 years of trade history in three chapters with full AI transcript and summary
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Update: 2024-08-08
Duration: 00:36:59
Shownotes: Episodes each Wednesday through labor day. Find all the episodes from this season here. And past seasons here. And follow along on TikTok here for
Duration: 00:36:59
Shownotes: Episodes each Wednesday through labor day. Find all the episodes from this season here. And past seasons here. And follow along on TikTok here for
video Summer School. Trade has come up in all of the episodes of Summer School so far. An early use of money was to make trade easier. Trade was responsible for the birth of companies and the stock market. And trade was the lifeblood of the early United States.Today's episode covers 250 years of trade history in three chapters. We start with one of the founding texts of economics, Wealth of Nations, in which Adam Smith argues a country's true value is not measured in gold and silver, but by its people's ability to buy things that enhance their standard of living. Then we'll watch American politicians completely ignore that argument in favor of protecting domestic industries – until one congressman makes a passionate case for free trade as the means to world peace. And finally we'll follow the trade debate up to the modern day, where the tides of American politics have turned toward regulation.This series is hosted by Robert Smith and produced by Audrey Dilling. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Sofia Shchukina. Subscribe to Planet Money+ for sponsor-free episode listening in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
What to do when you're in a class action with full AI transcript and summary
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Update: 2024-08-03
Duration: 00:25:34
Shownotes: Maybe you got a boring slip of paper in the mail. Maybe you got a spammy-looking email promising you money. Surprise! You're in a class
Duration: 00:25:34
Shownotes: Maybe you got a boring slip of paper in the mail. Maybe you got a spammy-looking email promising you money. Surprise! You're in a class
action. If you've done any commerce in the last decade, there's a good chance that someone somewhere was suing on your behalf and you have real money coming your way... if you know what to do.Class action settlements are on the rise. And, on today's show, we're helping decipher the class action from the perspective of the average class member. How do class actions work? Why are these notices sometimes undecipherable? And, what do you stand to gain (or lose) by responding? This episode was hosted by Kenny Malone and Nick Fountain. It was produced by James Sneed with help from Sam Yellowhorse Kesler. It was edited by Jess Jiang and fact-checked by Sierra Juarez. Engineering by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney. Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Summer School 4: Banker vs president and the birth of the dollar with full AI transcript and summary
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Update: 2024-08-01
Duration: 00:36:48
Shownotes: Episodes each Wednesday through labor day. Find all the episodes from this season here. And past seasons here. And follow along on TikTok here for
Duration: 00:36:48
Shownotes: Episodes each Wednesday through labor day. Find all the episodes from this season here. And past seasons here. And follow along on TikTok here for
video Summer School. Planet Money Summer School has arrived at the birth of the United States and the chance to set up a whole new economy from scratch. Should there be a centralized bank? Should there be a single currency? We'll travel to two moments in the country's early history when the founders said "nope" to these questions and see what happened. First we'll witness one of the great economic battles in U.S. history – the president of the United States versus the president of the Bank of the United States – and see how the outcome ushered in an age of financial panics. Then we'll drop in on a time before the U.S. dollar existed as we know it, when you could buy things using one of about 8,000 forms of money circulating in the country. We watch as the Civil War leads to the first standard currency. Along the way, we'll learn why the cycle of economic booms and busts persists to today despite efforts to centralize America's economy throughout history. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Sofia Shchukina. Subscribe to Planet Money+ for sponsor-free episode listening in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Summer School 3: The first stock and perpetual life with full AI transcript and summary
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Update: 2024-07-27
Duration: 00:34:14
Shownotes: Episodes each Wednesday through labor day. Find all the episodes from this season here. And past seasons here. And follow along on TikTok here for
Duration: 00:34:14
Shownotes: Episodes each Wednesday through labor day. Find all the episodes from this season here. And past seasons here. And follow along on TikTok here for
video Summer School. Once upon a time, every business was a small business. It was run by the owner, maybe the spouse and the kids. Maybe they borrowed money from friends and relatives, but there was only so big it could get. Then came what can only be described as the big bang of economics. Over the span of a few decades, people figured out a way for businesses to sell ownership shares – otherwise known as stocks – and let people trade those shares. There was suddenly money to buy machines and expand. Today, we head to the Netherlands around the year 1600. First, we'll visit the bridge in Amsterdam where some of the first stock trading took place. Then we track down the Dutch water company that's the source of the oldest "living" bond. It's the origin of stocks and bonds and the stock market and it leads directly to many of the financial innovations that we still have today. This series is hosted by Robert Smith and produced by Audrey Dilling. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Sofia Shchukina. Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
What Kamala Harris' economic agenda might look like with full AI transcript and summary
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Update: 2024-07-25
Duration: 00:18:10
Shownotes: Last weekend we were all thrown for a loop when President Joe Biden dropped out of the presidential race and endorsed Kamala Harris for the
Duration: 00:18:10
Shownotes: Last weekend we were all thrown for a loop when President Joe Biden dropped out of the presidential race and endorsed Kamala Harris for the
nomination. Just like everyone else, we are trying to quickly wrap our heads around what it means now that Harris is almost certainly going to be the Democratic nominee for president. We expect to see the Harris campaign come out with some official policy proposals in the coming weeks and months. But for now, all we've got are clues, little breadcrumbs that she has dropped throughout her career that might lead us to a rough idea of what economic policies she might support. Today on the show, we're going to visit three key moments from Harris' political career that might give us an idea of how her economic agenda might look. First, the 2019 presidential primary debates, where she laid out her own economic policies. Next, a vote in her Senate years that shows where she might fall on future trade agreements. And finally, a fight with some of the country's biggest banks from her very first year as Attorney General of California. This episode was hosted by Keith Romer and Nick Fountain. It was produced by Emma Peaslee, edited by Jess Jiang with help from Meg Cramer, and fact checked by Sierra Juarez and Sofia Shchukina. Engineering by Kwesi Lee. Alex Goldmark is Planet Money's executive producer. Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
The color monopoly with full AI transcript and summary
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Update: 2024-07-20
Duration: 00:22:03
Shownotes: In 2022, artist Stuart Semple opened up his laptop to find that all his designs had turned black overnight. All the colors, across files on
Duration: 00:22:03
Shownotes: In 2022, artist Stuart Semple opened up his laptop to find that all his designs had turned black overnight. All the colors, across files on
Adobe products like Photoshop and Illustrator, were gone. Who had taken the colors away? The story of what happened begins with one company, Pantone.Pantone is known for their Color of the Year forecasts, but they actually make the bulk of their money from selling color reference guides. These guides are the standard for how designers pretty much anywhere talk about color.On today's show, how did Pantone come to control the language of the rainbow? We look back at the history of Pantone, beginning with the man who made Pantone into the industry standard. And, we hear from Stuart, who tried to break the color monopoly. Share your thoughts — What color should we choose to be Planet Money's color? This episode was hosted by Sam Yellowhorse Kesler and Jeff Guo, and produced by Willa Rubin with help from James Sneed. It was edited by Jess Jiang and fact-checked by Sierra Juarez. Engineering by Debbie Daughtry with help from Carl Craft. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Summer School 2: The golden ages of labor and looms with full AI transcript and summary
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Update: 2024-07-18
Duration: 00:32:49
Shownotes: Who has the power? Workers or bosses? It changes through the ages, though it's usually the bosses. Today, we look at two key moments when
Duration: 00:32:49
Shownotes: Who has the power? Workers or bosses? It changes through the ages, though it's usually the bosses. Today, we look at two key moments when
the power of labor shifted, for better and worse, and we ask why then? What does history have to say about labor power right now? We travel to Sicily, Italy in the year 1347, where the bubonic plague is about to strike. The horror known as the Black Death will remake European society in countless ways, but we'll focus on one silver lining: how economic conditions shifted for workers. Then we head about 500 years into the future, to an English factory at the dawn of the Industrial Revolution, where textile workers take up arms against the machines taking their jobs and show how rapidly labor supply and demand can change. This is the famed tale of the Luddites, now a byword for knee jerk anti-technology, but the true story has nuance and a desperate but rational violent rebellion. This series is hosted by Robert Smith and produced by Audrey Dilling. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Sofia Shchukina. Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Rooftop solar's dark side with full AI transcript and summary
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Update: 2024-07-13
Duration: 00:27:22
Shownotes: 4.5 million households in the U.S. have solar panels on their homes. Most of those customers are happy with it - their electricity bills have
Duration: 00:27:22
Shownotes: 4.5 million households in the U.S. have solar panels on their homes. Most of those customers are happy with it - their electricity bills have
just about disappeared, and it's great for the planet. But thousands and thousands of people are really disappointed with what they've been sold. Their panels are more expensive than they should be, and they say it is hard to get someone to come fix them when they break. It turns out this sometimes crummy customer experience is no accident. It ties back to how big, national solar companies built their businesses in the first place. To entice people to install expensive solar panels, companies developed new financing models which cut upfront costs for customers. And they deployed lots and lots of salespeople to grow their businesses. But in the drive to get more households installing solar panels, consumer costs went up and the focus seemed to shift away from making sure those panels actually worked. All of this left some consumers feeling like they've been sold a lie.On today's episode, we look into how the residential solar business model has turned some people sour on solar. And we'll try to figure out where the industry could go from here. Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
Summer School 1: An Economic History of the World with full AI transcript and summary
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Update: 2024-07-11
Duration: 00:34:05
Shownotes: Planet Money Summer School is back for eight weeks. Join as we travel back in time to find the origins of our economic way of
Duration: 00:34:05
Shownotes: Planet Money Summer School is back for eight weeks. Join as we travel back in time to find the origins of our economic way of
life. Today we ask surprisingly hard question: What is money? And where did it come from? We travel to a remote island in the Pacific Ocean for the answer. Then we'll visit France in the year 1714, where a man on the lam tries to revolutionize the country's entire monetary system, and comes impressively close to the modern economy we have today, before it all falls apart. Check out our Summer School video cheat sheet on the origins of money at the Planet Money TikTok.The series is hosted by Robert Smith and produced by Audrey Dilling. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Sofia Shchukina. Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy
How flying got so bad (or did it?) with full AI transcript and summary
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Update: 2024-07-06
Duration: 00:25:15
Shownotes: We often hear that air travel is worse than it's ever been. Gone are the days when airplanes touted piano bars and meat carving stations
Duration: 00:25:15
Shownotes: We often hear that air travel is worse than it's ever been. Gone are the days when airplanes touted piano bars and meat carving stations
— or even free meals. Instead we're crammed into tiny seats and fighting for overhead space. How did we get here? Most of the inconveniences we think about when we fly can be traced back to the period of time just after the federal government deregulated the airlines. When commercial air travel took off in the 1940s, the government regulated how many national airlines were allowed to exist, where they were allowed to fly, and how much they could charge for tickets. But the Airline Deregulation Act of 1978 swept all these restrictions aside – and stopped providing subsidies for the air carriers. Airlines had to compete on ticket prices. That competition led to a more bare-bones flying experience, but it also made air travel a lot more affordable. In this episode, we trace the evolution of air travel over the past century to discover whether flying really is worse today — or if it's actually better than ever. We'll board a plane from the "golden age" of air travel, hear the history of one of the original budget airlines and meet feuding airline CEOs. Along the way, we'll see how economic forces have shaped the airline industry into what it is today, and what role we, as consumers, have played. Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy