SUMMER SCHOOL 4: Inflation & Drinking Buddies

Planet Money

NPR

Business, News

4.6 • 29.8K Ratings

🗓️ 4 August 2022

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

Inflation can be one of the scariest forces in the economy. As prices rise and your dollar doesn't go as far, you feel poorer, and it's all out of your control. To better understand inflation, we turn to the story of Brazil, where, in the 90s, hyperinflation threatened to derail the whole economy until the country turned to a group of unlikely heroes: four drinking buddies. | Subscribe to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney. |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.
0:12.0	Hello and welcome to Planet Money Summer School.
0:14.0	You're one stop shop for learning about all things economic.
0:17.0	I'm Stacy Vanick Smith and climbing our way out of the caves of macroeconomics.
0:21.0	I'm joined by our two economics colonkers.
0:23.0	I don't know why I wrote it this way.
0:25.0	But I did.
0:26.0	Kristen Brody and Luigi Zengales.
0:28.0	Hey guys.
0:29.0	Hi there.
0:30.0	This is episode four of Summer School.
0:32.0	And today's topic is one that is very familiar to most of us.
0:37.0	Prices.
0:38.0	How much stuff costs?
0:39.0	And this might not sound like such a big deal, kind of small potatoes.
0:43.0	But it is a really big deal.
0:45.0	Because if prices start rising or falling a lot,
0:48.0	it can create a spiral that can destroy a whole economy.
0:53.0	One of the big worries that economists and politicians have about the economy
0:57.0	is always inflation.
0:59.0	But you just prices rising across an economy.
1:02.0	But specifically, people worry about an inflationary spiral.
	...

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