SUMMER SCHOOL 2: Markets & Pickles

Planet Money

NPR

Business, News

4.6 • 29.8K Ratings

🗓️ 16 July 2020

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In our second class, we meet our old friends supply and demand and do graphs using only the power of the human voice. Then, we show you how markets can be created anywhere by telling the story of a food bank that had too many pickles and not enough pancake syrup. It's economics to the rescue. | Subscribe to our weekly newsletter here.

Transcript

Click on a timestamp to play from that location

0:00.0	Okay everyone, okay everyone this is NPR, phones down, eyes forward.
0:07.8	Hello and welcome to Planet Money Summer School.
0:17.4	The sweetest course in economics since that failed lemonade stand.
0:20.8	You have a kid.
0:22.2	This is class number two, markets and pickles.
0:26.3	I'm Robert Smith.
0:27.5	Every Wednesday to Labor Day we are meeting here in your ears to learn the essential
0:32.2	principles of Econ 101.
0:34.8	And if you pay attention and pass our final exam, we'll put your name on a summer school
0:39.7	diploma.
0:40.9	That lawyers tell me is in no way to be considered a diploma.
0:44.9	Hopefully you've spent the last week after class one thinking like an economist, waving
0:49.6	your hand at past decisions and saying, sunk costs, get the behind me.
0:55.0	Today we are going to hear about how markets pop up in the most unlikely places.
0:59.8	Those are the most exciting places.
1:01.4	I count white to get a look in for them.
1:03.7	Listening along with us are professors extraordinaire from the University of Michigan, Justin Wolffers
1:09.0	and Betsy Stevenson.
1:10.4	Hey.
1:11.4	Hey.
1:12.4	Good to be here, mate.
1:13.4	Today's show is about how individuals with very different needs and priorities get what
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from NPR, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of NPR and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.