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.
August 15th, 2012
Episode 504 of 902 episodes
In spite of the drought, many U.S. farmers will do just fine this year. They are, after all, covered by crop insurance — a program that costs U.S. taxpayers $7 billion a year. On today's show, we travel to Fairbury, Illinois. We meet three generations of farmers who tell us that, even without government-subsidized crop insurance, their farms would survive the drought. So why does the government spend so much on crop insurance programs? We talk to an ag economist who has a surprising answer.