Planet Money: Buybacks And Bailouts

Slavko — Sun, 10 May 2020 22:53:58 +0000

Who wins and who loses?

A viral exchange between CNBC’s Scott Wapner and venture capitalist Chamath Palihapitiya has now been watched more than 10-and-a-half million times on Twitter alone. Palihapitiya calls for some of his billionaire brethren to be placed in the metaphorical guillotine. Wapner pushes back. National debate ensues.

And, yes, it’s really, really satisfying to hear a billionaire say that those other billionaires should fail. But, maybe a bigger reason this clip went viral is that this one TV moment asks a deep question that’s been simmering since the last financial crisis: Who deserves to be saved and who deserves to fail?

Today on the show, we dissect this viral video and gaze lovingly at the financial guts inside.

First aired on Planet Money.

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Planet Money: Modern Monetary Theory

Slavko — Sat, 02 Nov 2019 15:42:23 +0000

Some ideas seem too good to be true. Like this one. It comes from a 13-year-old listener named Amy. She says she knows the government has trouble finding enough money to pay for stuff like schools and hospitals. And she wondered if it has considered just printing more money. She asked us: Can the government do that? Just make more money to pay for stuff?

Fiscal hawks say, ‘no way!’ We’d have crazy inflation! But there’s a group of economists that says, ‘yes, we can create way more money, without disaster. And pay for lots of stuff we want.’ They are the proponents of what’s called Modern Monetary Theory, or MMT.

Today, we try to understand a school of thought that is flipping economic theory on its head. If you buy it, the whole idea of government spending, taxes, the nature of money changes, and, according to the theory, all we have to do is just open our eyes.

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Planet Money: Buybacks And Bailouts

Who wins and who loses?

Planet Money: Modern Monetary Theory