The shocks of the pandemic economy gave us a bunch of enormous natural experiments, which helped to prove or disprove conventional economic thinking.
Take, for example, the bullwhip effect, the idea that the further away from the customer you are in the supply chain, the more volatile your orders are likely to be.
This theory played out at an enormous scale, in the pandemic. Consumers and companies overreacted to the risk of shortages by ordering more products and hoarding them, causing massive shifts in the supply chain – just like the theory says.
And the pandemic gave us a lot of natural experiments like this. So, on this special live edition of Planet Money, we looked for other big economic lessons from the past three years, and we took this information and turned it into... a gameshow! It's Two Truths and a Lie: Econ Edition. We get into questions about the workforce and labor market during the pandemic, and how it affected how economists view the world.
Additional reading, from Lise Vesterlund:
...from Pavlina Tcherneva:
...and from Gbenga Ajilore:
This episode was hosted by Mary Childs. It was produced by Dave Blanchard, and edited by Jess Jiang. It was engineered by Josh Newell with help from Robert Rodriguez. Original music by Jesse Perlstein.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
Always free at these links: Apple Podcasts, Spotify, Google Podcasts, NPR One or anywhere you get podcasts.
Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.
Music: Universal Production Music - "Rubbery Bounce"
2024-12-25 21:582953 view
2024-12-25 20:462450 view
2024-12-25 20:441671 view
2024-12-25 20:41460 view
2024-12-25 20:30847 view
2024-12-25 20:25652 view
California lawmakers pass nearly 1,000 new lawseach year. How do they know whether they are working?
It has been nearly 40 years since a new prison or jail opened in Hawaii, and the leader of the state
DOVER, Del. (AP) — A computer repairman at the center of a controversy over Hunter Biden’s laptop ha