The United States economy has experienced slow but steady growth since the 2007-2009 recession. Historically, one result of an improving economy should be an increase in the overall level of prices – inflation. This has not been the case, however, and inflation has stayed low. Inflation has remained low in part because most people don’t worry about it rising, and they aren’t rushing to buy products before they go up in price. Listen to this story from Planet Money and hear what low inflation sounds like, and how your behavior can directly affect whether prices rise or fall.
Story Length: 3:49
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During the Great Depression, high unemployment affected millions of Americans. In this audio story, people who lived through the depression as young people share their experiences of being out of work and hungry, and depending on relatives or strangers for food. The lack of any government safety net for the unemployed meant that people who could not find work were on their own, and many had to resort to begging to survive.
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Outsourcing happens when a company in the U.S. stops hiring American workers and hires workers in foreign countries instead. The benefit for the U.S. company is that workers in other countries make much less money than American workers, so the company saves money. In the early 2000s, more Americans began to protest against outsourcing because it created unemployment in the U.S. This public radio story introduces a man who built a business around helping companies outsource, and who stands by the practice despite its controversial aspects.
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To lower dependency on fossil fuels, some Americans have installed solar panels on their homes to produce their own clean energy. This decision involves a cost-benefit analysis of cost value and environmental impact. In some regions this cost-benefit ratio has been upset by fracking, and the cheap natural gas that it produces. How does supply and demand impact the cost of energy? How does the cost of energy impact people seeking alternatives such as solar energy? Listen to learn how one family has dealt is dealing with this shifting energy landscape.
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Before the European Renaissance (14th–17th centuries), loaning money, or usury, was considered sinful and strictly prohibited by the Catholic Church. Nonetheless, the banking industry flourished. In time, the idea started that one could pay for salvation. “Sinners” began donating money and artworks to the Church as a way of gaining favor with both the Church and God. As these indulgence flooded in, the Church didn’t protest. The massive influx of wealth to the church provided the fertile ground for the birth of the Renaissance. In this audio story, learn about the birthplace of banking and how many of today’s banking terms come from 14th century Florence.
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