Back in March 2020, when the COVID-19 pandemic was just beginning and the shelter-in-place orders brought the economy to a screeching halt, a quirky-but-clever idea to save the economy made its way up to some of the highest levels of government. Congresswoman Rashida Tlaib proposed an ambitious relief bill to keep the country’s metaphorical lights on: recurring payments to people to help them stay afloat during the crisis. And the way Congress would pay for it? By minting two platinum $1 trillion coins. (You read that right).
In this episode, we take a jaunt through the evolution of our currency, from the gold-backed bills of the 19th century, to the most powerful computer at the Federal Reserve. And we chase an idea that torpedoes what we thought was a fundamental law of economics. Can we actually just print more money?
This episode was reported by Becca Bressler and was produced by Becca Bressler and Simon Adler.
Special thanks to Carlos Mucha, Warren Mosler, David Cay Johnston, Alex Goldmark, Bryant Urstadt, and Amanda Aronczyk.
To learn more about these ideas check out:
Stephanie Kelton's book The Deficit Myth
Jacob Goldstein's book Money: The True Story of a Made-Up Thing and the Planet Money podcast
Betsey Stevenson's podcast Think Like an Economist
This website for more about #MintTheCoin
And for a fun quick read, check out this WIRED article about the surprising origin of the trillion dollar coin.
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Radiolab is on a curiosity bender. We ask deep questions and use investigative journalism to get the answers. A given episode might whirl you through science, legal history, and into the home of someone halfway across the world. The show is known for innovative sound design, smashing information into music. It is hosted by Lulu Miller and Latif Nasser.
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Folge vom 15.01.2021More Money Less Problems
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Folge vom 13.01.2021Sight UnseenAs the attacks were unfolding on the Capitol, a steady stream of images poured onto our screens. Photo editor Kainaz Amaria tells us what she was looking for--and seeing--that afternoon. And she runs into a dilemma we've talked about before. In December of 2009, photojournalist Lynsey Addario, in was embedded with a medevac team in Afghanistan. After days of waiting, one night they got the call - a marine was gravely wounded. What happened next happens all the time. But this time it was captured, picture by picture, in excruciating detail. Horrible, difficult, and at times strikingly beautiful, those photos raise some questions: Who should see them, who gets to decide who should see them, and what can pictures like that do, to those of us far away from the horrors of war and those of us who are all too close to it? Episode Notes: To hear Kainaz Amaria talk more about the filter, check out: this post on ethical questions to consider around the sharing of images of police brutality and her interview on On The Media about the double-standard in many U.S. newsrooms when it comes to posting graphic images. Special thanks to Chris Hughes and Helium Records for the use of Shift Part IV from the album Shift Support Radiolab by becoming a member today at Radiolab.org/donate.
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Folge vom 23.12.2020A Terrible Covid Christmas SpecialThis year was the worst. And as our staff tried to figure out what to do for our last episode of 2020, co-host Latif Nasser thought, what if we stare straight into the darkness … and make a damn Christmas special about it. Latif begins with a story about Santa, and a back-room deal he made with the Trump administration to jump to the front of the vaccine line, a tale that travels from an absurd quid-pro-quo to a deep question: who really is an essential worker? From there, we take a whistle-stop tour through the numbers that scientists say you need to know as you wind your way (or preferably, don’t wind your way) through our COVID-infested world. Producer Sarah Qari brings us her version of the Christmas classic nobody ever dreamt they’d want to hear: The Twelve Numbers of COVID. You can check out Martin Bazant’s COVID “calculator” here. This episode was reported by Latif Nasser and Sarah Qari, and was produced by Matt Kielty, Sarah Qari, and Pat Walters. Special thanks to Anna Weggel and Brant Miller, Catherine, Rohan, and Finn Munro, Noam Osband, Amber D’Souza, Chris Zangmeister, John Volckens, Joshua Santarpia, Laurel Bristow, Michael Mina, Mohammad Sajadi, James V. Grimaldi, Stephanie Armour, Joshuah Bearman, Brendan Nyhan And for more on the proposed Santa vaccine deal, see Julie Wernau and her colleagues' reporting at the Wall Street Journal here. Original art for this episode by Zara Stasi. Check out her work at: www.goodforthebees.com. Support Radiolab by becoming a member today at Radiolab.org/donate.
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Folge vom 18.12.2020The Ashes on the LawnA global pandemic. An afflicted, angry group. A seemingly indifferent government. Reporter Tracie Hunte wanted to understand this moment of pain and confusion by looking back 30 years, and she found a complicated answer to a simple question: When nothing seems to work, how do you make change? This episode was reported by Tracie Hunte, and produced by Annie McEwen and Tobin Low. Fact-checking by Diane Kelly. Support Radiolab by becoming a member today at Radiolab.org/donate.