Demystifying the Economy: Kyla Scanlon on Finance, Human Connection, and Growth

Hello Monday with Jessi Hempel

Careers, Business

4.8 • 1.1K Ratings

🗓️ 30 September 2024

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

Have you ever felt intimidated or overwhelmed by conversations about economics and finance? Well you are certainly not alone! This week, Jessi sits down with economist and viral content creator Kyla Scanlon to demystify the economy and show us how it shapes our lives. Kyla is the founder of the financial education company Bread, and the author of the new book In This Economy? How Money and Markets Really Work. Kyla explains complex topics like the housing crisis and labor shortages in simple, digestible ways, empowering us to make informed choices in our personal and professional lives. She explains why shifting from a scarcity mindset to one of abundance is key to addressing economic challenges like renewable energy shortages and the housing crisis, creating more sustainable economies. She and Jessi discuss how the economy can even be beautiful: at its core, it’s built on trust, relationships, and human-to-human interactions. Subscribe to the Hello Monday newsletter to get episodes and insights delivered straight to your inbox every Monday!

Transcript

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0:00.0	LinkedIn News.
0:02.0	From the news
0:05.0	from the news team at LinkedIn, I'm Jesse Hemphill and this is Hello Monday.
0:12.0	And before we get started this week, I wanted to invite you to sign up for our newsletter. You can get
0:18.0	the highlights from every episode delivered straight to your inbox every
0:21.9	Monday morning. Find that newsletter and more on my
0:25.1	LinkedIn profile. There's only one class that I flat out failed in college.
0:34.0	Or rather, I guess since my college didn't really assign F's, I got a no credit.
0:39.0	Anyhow, that class was economics.
0:41.0	It was my junior year. I was an English major. I decided to sign up for
0:46.7	Econ 110 because I thought it would be good for me. You know, in the same way that you
0:52.0	decide to eat green beans because they're good for you.
0:54.8	I never liked green beans. Anyhow, I showed up to every lecture and I kind of felt lost a lot of the time. We talked about things like elasticity and
1:04.8	market efficiency and those terms were kind of meaningless to me. When it came time
1:10.0	to complete the final I remember that I chose to write an essay about why economics didn't make sense
1:16.8	Let me be clear writing an essay was not even an option for that final this was an answer to a math problem. So I guess it's no surprise that I received
1:27.1	no credit. That's exactly what I deserved. But fast forward a few years and I was in grad school studying journalism.
1:35.3	And I returned to economics this time through the lens of business reporting.
1:40.0	I began to understand that the very best stories, well they have lots of drama, right?
1:45.0	And most drama stems from one of two things, sex or money.
1:50.5	I realized that if I looked at economics as a language to decode, one that I could learn and then
1:56.7	use to tell a story, well, it started to make a whole lot more sense.
	...

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