SUMMER SCHOOL 2: GDP & What Counts

Planet Money

NPR

Business, News

4.6 • 29.8K Ratings

🗓️ 21 July 2022

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

What even is "the economy"? And how do you measure it? Our path out of the economic darkness and into the light has been guided in large part by one single statistic: GDP. This week: the origins, history, and problems with the economic indicator to rule them all. | At this Summer School, phones ARE allowed during class... Check out this week's PM TikTok! | Listen to past seasons of Summer School here.

Transcript

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0:00.0	This is Planet Money from NPR.
0:06.0	Welcome everybody to Planet Money Summer School.
0:10.0	This is season three.
0:12.0	And this season we are getting back to basics.
0:15.0	The big economic questions, aka macroeconomics.
0:19.0	Everyone stay through Labor Day, we call class indecession
0:22.0	and bring you one big idea per episode.
0:24.0	Patified inflation, how recessions happen, things like that.
0:27.0	We take a classic Planet Money episode and pair it with insights
0:30.0	from our esteemed professor guides.
0:32.0	And this semester they are, Kristen Brody,
0:35.0	economist with the Federal Reserve Bank of Chicago.
0:38.0	Hey Kristen, hi.
0:40.0	And Luigi's and Galeis, professor of finance at the University of Chicago's
0:44.0	Booth School of Business and host of the podcast, Capitalism.
0:48.0	Hey Luigi.
0:49.0	Hi.
0:50.0	So last week on Summer School we learned about the two major schools of thought
0:53.0	about economic booms and bus.
0:55.0	How they happen and what the government should do about it.
0:58.0	Go back and listen to that whenever you get the chance.
1:00.0	This week we look at something else that connects us
	...

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