SUMMER SCHOOL 6: Trade & The Better Life

Planet Money

NPR

Business, News

4.6 • 29.8K Ratings

🗓️ 17 August 2022

⏱️ 33 minutes

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Summary

International trade is the web of cross-border relationships that binds economies together. Because of trade we have access to cheaper, higher-quality goods, and we get to benefit from other countries' cultures. Economics tells us trade makes society, overall on average, better off, but that doesn't mean everyone wins. Today, the good and bad of trade through the eyes of workers in developing economies who make the things sold around the world. We follow them as they navigate the ever-shifting international trade environment. |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.
0:07.0	Hello and welcome to Planet Money Summer School.
0:15.5	The supply for your intellectual demand.
0:18.2	I am Stacy Vannex-Mitt.
0:20.4	So far this season we have learned about inflation, the jobs market, the business cycle, all
0:25.6	things macroeconomic.
0:27.7	But today we are going super macro.
0:31.2	We are macroing out because today we are looking not just in a country's whole economy, but
0:36.6	how a country's whole economy interacts with other countries' whole economies.
0:42.0	I am talking of course about trade.
0:47.0	Trade is a very powerful economic force.
0:50.0	It has shaped our jobs, our lives, what we see on our store shelves in countless ways.
0:55.8	It has created this economic web that binds us all together.
1:00.8	Everybody on the planet links our fates.
1:03.2	So here to parse this tangled web with us are two of my very favorite economists in the
1:08.8	world, Sumea Keynes and Chad Bound.
1:11.5	Hey guys.
1:12.5	Hi Stacy.
1:13.5	Hi Stacy.
1:14.5	Sumea, let's start with you.
1:15.8	So I am an economist currently on the Britain Economics Editor at the Economist.
1:22.2	And so I spend my time thinking about trade, productivity, growth, which is a lot of
	...

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