If you’re a fan of economics, storytelling, and learning how the world really works, “Planet Money” is a podcast you can’t miss. With a knack for breaking down complex topics in fun and accessible ways, this NPR podcast covers everything from global financial crises to the economics of everyday life. Having listened to practically every episode of the show, here are what I think are some of the top episodes of Planet Money.
NOTE: Many of Planet Money’s older episodes are now only available via the NPR website.
For Richer or… Richer
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Assortative mating has been growing in the U.S. for several decades. This refers to the tendency for people with similar backgrounds—such as income and education levels—to increasingly marry one another. Economist Branko Milanovic calls this phenomenon “homogamy” and believes its causes, including the increase in female workforce participation, are something to celebrate. However, there’s also evidence that assortative mating is contributing to rising inequality and social division between high-income families and the rest of society.
The Measure of a Tragedy
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The Venezuelan economy has fallen apart. Decades of poor economic management and an intensifying political crisis have plunged the country into a recession that’s almost unprecedented in recent history. However, conveying the extent of the disaster is difficult because typical economic indicators have reached staggering levels — like 25,000% inflation — making them hard to fully grasp. To help illustrate the severity of the crisis, Harvard economist Ricardo Hausmann, who hails from Venezuela, has developed his own measure that captures the shocking scale of the collapse.
Police Unions And Police Violence
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Police unions stand apart from typical unions. While most unions exist to give workers collective bargaining power, police officers already possess authority that other workers do not. This episode examines data on police unions and how their presence might be linked to increased incidents of police-related fatalities. Additionally, it explores why many unions are distancing themselves from police unions. Today’s show is brought to you by The Indicator, a sibling podcast that offers daily, bite-sized stories about the economy in under ten minutes.
All You Can Eat Economics
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You might expect to find economic concepts in an economics textbook, but do you know where you can really see these principles in action? Buffets. At Planet Money, they think there’s a lot of economics happening at an all-you-can-eat buffet, hidden among the piles of brisket and bowls of mashed potatoes. From well-known ideas like adverse selection, sunk costs, and diminishing marginal returns, to more unusual concepts like flat rate pricing bias. In today’s episode, the podcast heads to Las Vegas, where the modern buffet may have originated. Their goal? To devour all the economics we can at the buffet, with guidance from an economist and buffet enthusiast who shares his strategic approach for getting the most out of the experience.
What is Temu?
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Few e-commerce companies experience the rapid success that Temu has seen. Launched in the fall of 2022, the company has dominated the U.S. advertising market, purchasing significant ad space across platforms like Facebook and Snapchat. According to market intelligence firm Sensor Tower, Temu is now one of the most downloaded iPhone apps in the U.S., with around 50 million active users each month. In today’s episode, the focus is on Temu: how it operates, how it achieved such swift growth in the U.S., and what it may reveal about the future of retail. Additionally, the show features an interview with a U.S. Representative—an avid cyclist—who is working to close a loophole that has been instrumental in Temu’s rapid rise.
Planet Money Makes a T-Shirt
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An epic tale of how Planet Money set out to make a t-shirt from scratch. Detours from cotton fields in America to factories in Indonesia take you on a wild journey.
Why The Price of Coke Didn’t Change for 70 Years
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Prices usually rise, and sometimes they fall. But for 70 years, the cost of a bottle of Coca-Cola stayed the same. From 1886 to the late 1950s, a bottle of Coke was priced at just five cents. In this episode, Planet Money explores why this happened. The story involves half a million vending machines, the idea of a 7.5-cent coin, and a company president who simply wanted to get some lawyers out of his office.
When Subaru Came Out
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In the early 1990s, Subaru was having a hard time distinguishing itself in the competitive car market. At a pivotal moment, the company found an unexpected source of support: the lesbian community.
Planet Money Buys Oil
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Oil is all around us, found in almost everything — from our phones to our food and medicine. It has fueled industrial advancements but has also played a significant role in air pollution and climate change. Despite being so pervasive, oil often goes unnoticed. Planet Money wanted to bring it into focus. So, they purchased 100 barrels of oil and traced its journey from extraction, through the refinery, and finally into someone’s gas tank.
Episode 555: Why is The Milk in The Back of The Store
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This podcast episode explores the curious placement of milk in grocery stores, typically situated in the farthest corner from the entrance despite its popularity. The hosts present two contrasting theories to explain this phenomenon, each reflecting distinct perspectives on business strategy and consumer behavior. One common explanation suggests that this arrangement is deliberately designed to compel shoppers to traverse the entire store, potentially increasing their purchases along the way. However, the hosts question the viability of a business model that intentionally inconveniences its customers.
Episode 792: The Ransom Problem
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Venturing to Somalia to cover a humanitarian emergency, Amanda Lindhout was an experienced journalist who had previously worked in high-risk nations like Iraq and Afghanistan. However, shortly after her arrival in Somalia, she fell victim to abduction by a group of criminals who appeared to have connections with extremist organizations. The kidnappers promptly contacted her mother, demanding a substantial sum of money for her release.
Planet Money Buys a Super Hero
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Planet Money embarks on a mission to acquire a genuine, classic superhero character. Their goal is to breathe new life into an overlooked, dormant hero by creating fresh adventures, including comic books, merchandise, and potentially even films. The possibilities seem limitless.
The series dives into the high-stakes realm of superhero intellectual property, exploring the intricate world of licensing and negotiations. These processes transform dated, two-dimensional characters in capes and peculiar attire into lucrative franchises. The team aims to construct their own miniature superhero empire under the Planet Money banner, with the acquisition of a vintage superhero as their starting point.
Episode 216: How Four Drinking Buddies Saved Brazil
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Merely twenty years ago, hyperinflation gripped the nation so severely that supermarkets were forced to update their price tags daily. Customers would dash ahead of store employees to snatch items at the previous day’s lower costs. Multiple administrations attempted unsuccessfully to curb the rampant inflation. One leader implemented a price cap, while another froze citizens’ financial accounts. Eventually, the government turned to four economists who had long discussed strategies to resolve Brazil’s monetary crisis. Their innovative solution: Introduce a virtual currency.
Episode 618: The Square Deal
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At the dawn of the 20th century, the Endicott Johnson Corporation in upstate New York dominated U.S. shoe production. This industrial giant, producing 52 million pairs annually and supplying the military during both World Wars, was renowned not only for its footwear but also for its progressive labor practices. Under President George F. Johnson’s leadership, the company pioneered the 8-hour workday in the shoe industry and offered superior wages and working conditions.
Episode 752: Eagles vs. Chickens
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After inheriting his family’s industrial farm, Will Harris initially followed conventional practices, using pesticides and hormones to maximize profits. However, his perspective shifted as he observed the negative impacts on animal health and soil quality. Inspired to create a more sustainable farm, Harris transitioned to organic methods, introducing free-range chickens to naturally fertilize the land for his cattle. This eco-friendly approach aimed to appeal to health-conscious consumers. However, an unexpected challenge arose when eagles began preying on his chickens, threatening his new organic farming model.
Advanced Fairness At The Marathon
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The New York City Marathon faces an annual economic challenge: distributing limited race slots among numerous eager participants. This scarcity issue mirrors similar allocation problems in various sectors, from education to housing. While there’s no universally accepted “fairest” method for such distributions, the marathon organizers have devised an innovative approach to manage the expectations of thousands of competitive runners, balancing fairness with practicality.
Planet Money Goes To Space
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The cosmos has become increasingly accessible, promising to revolutionize terrestrial existence. Corporations are investing vast sums in miniature orbital devices, cutting-edge propulsion systems, and Earth observation technologies. To grasp the intricacies of this emerging industry, the podcast team decides to immerse themselves in the field. They take ownership of a charming mini-satellite, explore the market for launch vehicles, and attempt to devise a strategy for monetizing their modest venture in the contemporary space industry.
Bell Wars
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In a small town, two rival companies produce identical products, hinting at a shared history. This tale revolves around Jake Malta, once the lead engineer at Schulmerich, the sole handbell manufacturer in the area. Jake’s passion for bells made it his dream job until new management arrived. Clashing with the new leadership, Jake departed, determined to create a superior handbell that would surpass his previous work at Schulmerich.
Hear us out: We ban left turns and other big ideas
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In this installment, we present a trio of innovative economic concepts for your contemplation – proposals that could potentially enhance our economic landscape and boost overall efficiency. We begin by exploring the implications of prohibiting vehicular left turns. Next, we consider the prospect of endowing each newborn with a financial nest egg. Finally, we examine the potential consequences of abolishing the current system of U.S. congressional districts.
The hidden world behind your new “banking” app
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Recent years have seen a surge in fintech companies offering bank-like services with appealing features such as quick account setup and zero fees. However, these entities often lack the rigorous regulatory oversight applied to traditional banks. This discrepancy can pose significant risks to depositors, as illustrated by a recent case where a tech company’s bankruptcy left thousands unable to access their savings. This episode explores the implications of this growing fintech trend and its impact on banking regulation, featuring stories from affected individuals.
Episode 694: The Gun That Wouldn’t Shoot
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Colt, a legendary American firearms manufacturer known for revolutionary designs like the revolver and the M16 rifle, faced financial turmoil in the 1990s due to increasing gun-control advocacy and legal challenges. In 1994, Donald Zilkha emerged as an unexpected potential rescuer, proposing to revitalize the company by developing a groundbreaking “smart gun” that would only function for authorized users, aiming to combine innovation with enhanced safety.
Episode 657: The Tale Of The Onion King
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Vince Kosuga, a successful onion farmer in the 1930s, wanted more than just farming success—he loved betting on crops. One day, he decided to gamble on the crop he knew best: onions. Today’s episode covers how Kosuga made millions with the greatest onion trade ever. His scheme to corner the market got so extreme that it led to onions flooding the Chicago River. The onion industry has never been the same.
Episode 421: The Birth Of The Dollar Bill
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Before the Civil War, there were around 8,000 different types of currency in the United States. Individual banks issued their own paper money, and, unlike now, a $1 bill didn’t always hold the same value. Some accepted bills at face value, others at a discount (a $1 bill might be worth only 90 cents), and certain bills were outright rejected. In today’s episode, the show explores how this system functioned and how the Civil War—and the Union’s demand for funds—transformed it all.
Episode 723: The Risk Farmers
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A visit to one of Lesotho’s top apple farmers revealed his hesitation to fully commit to apple farming, despite his success. This highlights a common challenge in the developing world: farmers often don’t focus on their most profitable crops. Why? Two economists, both experts in poverty reduction, offered different explanations and set out to determine which one was correct.
Episode 510: The Birth of the Minimum Wage
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For much of U.S. history, there was no minimum wage. Although lawmakers made several attempts to introduce one, the Supreme Court repeatedly blocked those efforts. In today’s episode, the show explores how the U.S. ultimately established a minimum wage. It’s a tale involving bakery explosions, a blue eagle, and a man who may or may not have been intoxicated.
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