The Indicator from Planet Money - How Magic Johnson’s Starbucks created new neighborhood businesses

There's been a lot of research showing how third spaces — a place that isn't the home nor the workplace — have brought communities together, even catalyzed revolutions. New research shows that coffee shops in particular could be key to sparking new businesses, too.

Today on the show, caffeine-fueled entrepreneurship. We go back a few decades for the story of how Magic Johnson partnered to build Starbucks cafes in Black and Latino neighborhoods, and how new research has shed light on how Magic's plan changed entrepreneurship in those communities.

Related Episodes:
Oil gluts, Russian bucks, and Starbucks
Magic Johnson on basketball, business, and being the face of HIV

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Audio Mises Wire - Why People Pay Higher Prices for Some Goods Relative to Others

One of the important points made by Carl Menger in his 1871 Principles is that people ordinally rank their preferences, valuing some things more than others. While this seems to be a common-sense principle, it actually has important implications for economic theory.

Original article: Why People Pay Higher Prices for Some Goods Relative to Others

 

 

Audio Mises Wire - Kamala Harris’s Price-Fixing Scheme Would Lead to Food Shortages

Kamala Harris claims that she simply wants food prices to be lower. However, her de facto price fixing scheme would create food shortages and raise the real price of food. Of course, when that happens, Harris simply will blame capitalism.

Original article: Kamala Harris’s Price-Fixing Scheme Would Lead to Food Shortages