The economy, explained, with stories and surprises. Imagine you could call up a friend and say, "Meet me at the bar and tell me what's going on with the economy." Now imagine that's actually a fun evening. That's what we're going for at <em>Planet Money</em>. People seem to like it.
December 26th, 2012
Episode 545 of 922 episodes
Gift-giving makes economists crazy. It's so inefficient!So we wondered: Is there a way to make the holiday season both more efficient and more joyful?On today's Planet Money, we try to answer that question by conducting a wildly unscientific experiment. We go into a seventh-grade classroom and give a bunch of kids some small gifts — candy, raisins, fig newtons.Then we ask them how much they value what they got, and if they can think of a way to make everyone better off, without buying any more gifts. They quickly arrive at a solution: trade.Behold, the power of economics!