Planet Money Turned Everyday Annoyances Into an Economics Book
Quotes & Clips
5 clipsHidden economic forces dictate our daily lives
“One of the through lines that I think we share between all thoughts and Planet Money is this idea that like, there are all these hidden economic forces that basically dictate the way we live totally. I mean there's been especially the you know, the less I mean, it's always the case, right, but especially in the last several years, which is just the sort of the invisible becoming divisible.”
The book functions as an economic field guide
“And so one of the early ideas we had was to think of this book as a field guide. You can imagine like leaving your house in the morning and tucking it under your arm to help you as you experience the economic forces outside your door.”
Strategic division of labor enables complex projects
“Well, this one's easy for me because I did almost no work. Alex did all of the book work, and so that's what I would recommend in terms of division of labors, to not do the work. It's good advice, I think, so just have a friend who's a long time contributor.”
Global crises turn citizens into economic experts
“Right, we all became supply chain experts during COVID, we became trade experts during twenty twenty five, and now we're all going to become commodity experts given the Iran situation as well. Without further ado, we do have the perfect guest.”
Childhood nostalgia often masks government commodity marketing
“So, speaking of formative life experiences and growing up in hidden economic forces, one of the things I learned from this book is that when I was performing as a California Raisin at the age of six, I was actually participating in a government like psyop. Basically explain that.”
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Episode Description
There are a lot of things to be annoyed about in modern life. The high cost of food and housing and childcare. Dating apps that don't seem to work. The fear of AI replacing you at your job. These are all common complaints and concerns, and each of them can be traced to a specific economic phenomenon or market structure issue. Once you start thinking about the world in this way, you can't unsee it. In this episode, we speak with Planet Money co-host Mary Childs, and contributor to the podcast, Alex Mayassi. They've just written a book called Planet Money: A Guide to the Economic Forces That Shape Your Life. We discuss how one of Tracy's childhood memories was a reflection of the commodity trap, what Baumol's cost disease tells us about daycare, and why -- despite all these frustrations -- there are still many reasons to be optimistic about economic progress. Read more: Australia Secures Fertilizer From Indonesia to Meet Crop Needs Kerrygold Butter Maker Sees Iran War Costs Hitting Consumers Only http://Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots Subscribe to the Odd Lots Newsletter Join the conversation: discord.gg/oddlots See omnystudio.com/listener for privacy information.