In some ways, starting a bank is a lot like starting any other business. Who will you hire? Where will you be located? What color will the couches be? But it's also way more complicated. There are tons of regulations on banks–and you can understand why. Lots of new businesses fail. But if a bank fails, it can have ripple effects for the entire economy.
Today on the show, a baby bank is born. We go along for the ride from idea to ribbon cutting as a community bank gets off the ground.
This episode of Planet Money was produced by Emma Peaslee and edited by Katie Mingle. It was fact-checked by Sierra Juarez and engineered by Cena Loffredo. Alex Goldmark is our executive producer.
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Music: NPR Source Audio- "Numbers Game," "Smoke and Mirrors," and "Lets Start A Movement"
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Planet Money - The Parable of Peanut the Memecoin
Memecoins are having a moment. Everyone from Hawk Tuah to President Donald Trump to animal influencers like Moo Deng the pygmy hippo have been turned into cryptocurrency. But what are the costs of all the hype?
On today's show — a modern parable. How an orphaned baby rodent became a world famous animal influencer, became a political martyr, and was finally transmuted into a billion dollar cryptocurrency. It's a tale about how a chance encounter can lead to fame and fortune. But also how all that can spin wildly out of control in this brave, new – kind of terrifying – attention economy we're all living in.
This episode was hosted by Alexi Horowitz-Ghazi and Nic Neves. This episode was produced by James Sneed. It was edited by Jess Jiang. Fact-checked by Sierra Juarez. And engineered by Jimmy Keeley. Alex Goldmark is Planet Money's executive producer.
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On today's show — a modern parable. How an orphaned baby rodent became a world famous animal influencer, became a political martyr, and was finally transmuted into a billion dollar cryptocurrency. It's a tale about how a chance encounter can lead to fame and fortune. But also how all that can spin wildly out of control in this brave, new – kind of terrifying – attention economy we're all living in.
This episode was hosted by Alexi Horowitz-Ghazi and Nic Neves. This episode was produced by James Sneed. It was edited by Jess Jiang. Fact-checked by Sierra Juarez. And engineered by Jimmy Keeley. Alex Goldmark is Planet Money's executive producer.
Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.
Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.
Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
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Hayek Program Podcast - Shruti Rajagopalan and Chris Coyne on War, Conflict, and the Quest for a Stable Peace
On this special crossover episode, Ideas of India podcast host, Shruti Rajagopalan, interviews Christopher J. Coyne on the economics of conflict and peace, the history of the U.S. security state, the US intervention in Afghanistan, domestic consequences of militarism abroad, and much more!
For the full length transcript and for more episodes like this, check out the Ideas of India podcast page.
Shruti Rajagopalan is a Senior Research Fellow at the Mercatus Center and a Fellow at the Classical Liberal Institute at New York University School of Law. She leads the India political economy research program and Emergent Ventures India at Mercatus and hosts the Ideas of India podcast.
Christopher J. Coyne is Associate Director of the F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics, Professor of Economics at George Mason University, and Director of the Initiative for the Study of a Stable Peace (ISSP).
If you like the show, please subscribe, leave a 5-star review, and tell others about the show! We're available on Apple Podcasts, Spotify, Amazon Music, and wherever you get your podcasts.
Virtual Sentiments, a podcast series from the Hayek Program, is streaming. Subscribe today and listen to season three, releasing now!
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CC Music: Twisterium
The Economics of Everyday Things - 82. Chain Restaurant Recipes
A fast-food burger has to taste the same — and cost the same — thousands of times a day at restaurants across the country. Zachary Crockett mans the fryer.
- SOURCES:
- John Karangis, vice president of culinary innovation at Shake Shack.
- Walter Zuromski, owner and chief culinary officer of the Chef Services Group.
- RESOURCES:
- "How Shake Shack’s New Test Kitchen Is Shaping the Future of the Brand," by Stefanie Tuder (Eater, 2018).
- EXTRAS:
- "Truffles," by The Economics of Everyday Things (2023).
Planet Money - The Memecoin Casino
What do Moo Deng the pygmy hippo, social media sensation Hawk Tuah, and the President of the United States all have in common? They've all inspired highly valuable, highly volatile memecoins.
The humble memecoin began as a sort of satirical send up of speculation in the crypto world. But it was a joke that soon became very real. In the decade since the launch of Dogecoin in 2013, a series of cultural shifts and technological leaps enabled an explosion in the number of new memecoins. And this memecoin explosion has not only minted millionaires but also led to hordes of unlucky investors and untold scams.
On today's show, what's in a memecoin? How they went from a one-off joke to a speculative frenzy worth tens of billions of dollars? And who are the winners and losers in this brazen new market? wow such tease many listens
Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.
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The humble memecoin began as a sort of satirical send up of speculation in the crypto world. But it was a joke that soon became very real. In the decade since the launch of Dogecoin in 2013, a series of cultural shifts and technological leaps enabled an explosion in the number of new memecoins. And this memecoin explosion has not only minted millionaires but also led to hordes of unlucky investors and untold scams.
On today's show, what's in a memecoin? How they went from a one-off joke to a speculative frenzy worth tens of billions of dollars? And who are the winners and losers in this brazen new market? wow such tease many listens
Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.
Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.
Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
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Planet Money - The controversy over Tyson Foods’ hiring of asylum seekers
Last year, Tyson Foods shuttered a meat processing plant in Perry, Iowa. The company said it made the decision because the plant was old and inefficient. But the closure was devastating for the residents of Perry. The plant had employed some 1200 workers in a town with a population of only 8000.
At the same time, Tyson was also busy hiring workers elsewhere. It was working with a non-profit group that helps connect companies with asylum seekers and refugees looking for work. Tyson ultimately hired hundreds of new workers through this partnership.
Was this just a coincidence? Or were these two stories actually one story - a story about one of the country's biggest meat processors forcing out American workers and replacing them with migrants? On today's show we take a look at the controversy surrounding Tyson's hiring moves and how things look from the perspective of the workers themselves.
Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.
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At the same time, Tyson was also busy hiring workers elsewhere. It was working with a non-profit group that helps connect companies with asylum seekers and refugees looking for work. Tyson ultimately hired hundreds of new workers through this partnership.
Was this just a coincidence? Or were these two stories actually one story - a story about one of the country's biggest meat processors forcing out American workers and replacing them with migrants? On today's show we take a look at the controversy surrounding Tyson's hiring moves and how things look from the perspective of the workers themselves.
Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.
Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.
Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
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The Economics of Everyday Things - Used Golf Balls (Replay)
American golfers lose 300 million balls a year — and all those bad swings are someone else’s business opportunity. Zachary Crockett hits the links.
- SOURCES:
- Todd Hutchinson, president and owner of BallHawker.
- Lashan Wanigatunga, founder of Two Guys With Balls.
- RESOURCES:
- "BallHawker, Challenge Enterprises Turn Wayward Golf Shots Into Successful Endeavor," Natalie Gilstrap (Clay Today, 2023).
- "Temecula Golf Ball Diver Nets $100,000 a Year," by Jeff Zevely (CBS8, 2022).
- "Golf’s Recycled Ball Market is Big Business," by Erik Matuszewski (Link, 2021).
- "The Inside Story of What the Original Titleist Pro V1 Launch Was Really Like," Andrew Tursky (Golf Digest, 2020).
- "Head of Golf Ball Retrieval Company Sentenced for Manslaughter After Diving Death at Wales Golf Course," by Alex Myers (Golf Digest, 2017).
- "Man Dies While Illegally Diving for Golf Balls," by Alex Myers (Golf Digest, 2015).
- EXTRAS:
- "Greg Norman Takes On the P.G.A. Tour," by People I (Mostly) Admire (2023).
Planet Money - The rise and fall of Long Term Capital Management
There's this cautionary tale, in the finance world, that nearly any trader can tell you. It's about placing too much confidence in math and models. It's the story of Long Term Capital Management.
The story begins back in the 90s. A group of math nerds figured out how to use a mathematical model to identify opportunities in the market, tiny price discrepancies, that they could bet big on. Those bets turned into big profits, for them and their clients. They were the toast of Wall Street; it looked like they'd solved the puzzle of risk-taking. But their overconfidence in their strategy led to one of the biggest financial implosions in U.S. history, and destabilized the entire market.
On today's show, what happens when perfect math meets the mess of human nature? And what did we learn (and what did we not learn) from the legendary tale of Long Term Capital Management?
This episode of Planet Money was hosted by Mary Childs and Jeff Guo. It was produced by Sam Yellowhorse Kesler and edited by Jess Jiang. It was fact-checked by Sierra Juarez and engineered by Robert Rodriguez. Alex Goldmark is our executive producer.
Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.
Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.
Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
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The story begins back in the 90s. A group of math nerds figured out how to use a mathematical model to identify opportunities in the market, tiny price discrepancies, that they could bet big on. Those bets turned into big profits, for them and their clients. They were the toast of Wall Street; it looked like they'd solved the puzzle of risk-taking. But their overconfidence in their strategy led to one of the biggest financial implosions in U.S. history, and destabilized the entire market.
On today's show, what happens when perfect math meets the mess of human nature? And what did we learn (and what did we not learn) from the legendary tale of Long Term Capital Management?
This episode of Planet Money was hosted by Mary Childs and Jeff Guo. It was produced by Sam Yellowhorse Kesler and edited by Jess Jiang. It was fact-checked by Sierra Juarez and engineered by Robert Rodriguez. Alex Goldmark is our executive producer.
Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.
Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.
Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
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Planet Money - Can the president override Congress on spending?
So the president can't spend more money than Congress has agreed and voted to spend. But can the president spend less money than Congress wants?
It all comes down to something called "impoundment" and the Impoundment Control Act of 1974, which controls when and how a president can take away money Congress has appropriated.
President Trump followed the Impoundment Control Act rules back in 2018. But now, in his second term, he's saying he thinks that law is unconstitutional.
On this episode: the history of impoundment, from Thomas Jefferson to Richard Nixon and Bill Clinton. And what constitutional scholars and judges are saying after Trump attempted to dismantle a federal agency and freeze trillions in federal funding that goes to states for everything from new school buses to public health research.
We've got more about impoundment in the latest Planet Money newsletter.
Check out The Indicator's episodes on the gutting of USAID and how American farmers are affected in USAID cuts. And, our previous episode on the big government money pipe that's being closely watched right now.
Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.
Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.
Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
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It all comes down to something called "impoundment" and the Impoundment Control Act of 1974, which controls when and how a president can take away money Congress has appropriated.
President Trump followed the Impoundment Control Act rules back in 2018. But now, in his second term, he's saying he thinks that law is unconstitutional.
On this episode: the history of impoundment, from Thomas Jefferson to Richard Nixon and Bill Clinton. And what constitutional scholars and judges are saying after Trump attempted to dismantle a federal agency and freeze trillions in federal funding that goes to states for everything from new school buses to public health research.
We've got more about impoundment in the latest Planet Money newsletter.
Check out The Indicator's episodes on the gutting of USAID and how American farmers are affected in USAID cuts. And, our previous episode on the big government money pipe that's being closely watched right now.
Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.
Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.
Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
Learn more about sponsor message choices: podcastchoices.com/adchoices
NPR Privacy Policy
Hayek Program Podcast - Jordan Lofthouse and Zane Willard on the Political Economy of Visibility and Drag Races
On this episode, Jordan Lofthouse chats with Zane Austin Willard about interdisciplinary scholarship and using political economy to study LGBTQ plus issues. Zane explains his academic background in economics and communication studies and discusses power dynamics, queer culture and Rupaul’s Drag Race, the paradox of visibility, and the strengths and weaknesses of polycentric governance explored through the #MeToo movement.
Zane Austin Willard is a doctoral student in the Department of Communication at the University of South Florida and Visiting Assistant Professor of Communication and Media Studies at The University of Tampa. Zane’s research and teaching interests are in critical cultural and media studies, surveillance studies, and queer theory and gender and sexuality studies. Zane is an alum of the Mercatus Don Lavoie Fellowship, Frédéric Bastiat Fellowship, and Elinor Ostrom Fellowship.
If you like the show, please subscribe, leave a 5-star review, and tell others about the show! We're available on Apple Podcasts, Spotify, Amazon Music, and wherever you get your podcasts.
Virtual Sentiments, a podcast series from the Hayek Program, is streaming. Subscribe today and listen to season three, releasing now!
Follow the Hayek Program on Twitter: @HayekProgram
Learn more about Academic & Student Programs
Follow the Mercatus Center on Twitter: @mercatus
CC Music: Twisterium