Archive for the ‘scarcity’ Tag

The Less Deadly Catch   Leave a comment

less deadlyLink: http://www.npr.org/sections/money/2015/11/04/454698093/episode-661-the-less-deadly-catch

Summary: The Planet Money team investigates a regulation the Alaskan government implemented to make fishing less frantic and more efficient.

Original Air Date: November 4, 2015

Length: 18 minutes 11 seconds

Money Trees   Leave a comment

money treesLink: http://www.npr.org/sections/money/2015/11/13/455941812/episode-663-money-trees

Summary: The Planet Money team investigates ‘carbon offsetting’ and the good it does for the environment as well as the pros and cons that accompany it.

Original Air Date: November 16, 2015

Length: 17 minutes 52 seconds

Your Organs, Please   Leave a comment

your organsLink: http://www.npr.org/sections/money/2015/10/28/452655987/episode-518-your-organs-please

Summary: The Planet Money team investigates organ donation and how it has become more popular over time.

Original Air Date: October 30, 2015

Length: 19 minutes 48 seconds

Free Money   Leave a comment

free moneyLink: http://www.npr.org/blogs/money/2014/11/07/362060876/episode-581-free-money

Summary: This podcast discusses arbitrage (free money), using the example of used textbooks. Arbitrage (free money) is a risk-free way to buy low and sell high. You can find one thing that’s selling for two different prices, and exploit the mistake.

Original Air Date: November 7, 2014

Length: 14 minutes 29 seconds

Prompt: Imagine you find an opportunity like the one discussed in the podcast. Write an outline of how you would go about this discovery, and what your plan of action would be.

Discussion Question: A woman in the podcast said their practice was immoral. Do you agree or disagree? Is what these two men are doing wrong? Use economic thinking in your discussion.

How Do You Decide Who Gets Lungs?   1 comment

ashleyLink: http://www.npr.org/blogs/money/2012/05/18/153004617/how-do-you-decide-who-gets-lungs

Summary: This podcast outlines the organ market or rather the non-existent, scarce organ market that doctors unfortunately have to face when they put their patients on an organ waiting list.

Original air date: May 18, 2012

Length: 15:11 min

Discussion Prompt (1): Consider the ten principles of economics that Mankiw discussions in Chapter 1.  How do they relate to the situation in this podcast?

Discussion Prompt (2): This podcast gives examples of how different systems for allocating lungs create incentives (for doctors, for patients) and thus impact choice.  How do you see that incentives, choices and outcomes are impacted if they allocation is based on: whoever is sickest? What if they allocation system is based on who is on the waiting list first?  What if the system was a market-based system based on ability to pay? Use examples from the podcast or your own thinking that expands beyond the podcast content.

Follow-up Prompt: You all make some good observations here and lead me to think that it is also important to think about the goal of the system – is the goal to be fair? is the goal for patients not to have to wait? is the goal to have the most number of patients live ? Is the goal to save the sickest?  How do you think that understanding the ‘goal’ helps us to see the problems and options for allocation?

Written Assignment Prompt: The podcast mentions doctors signing up patients for lung transplants before they need or are sick enough for them. What are the ethical issues associated with such a decision? Why don’t we see markets at work in this scenario? How might you create an alternate system for allocating this precious item?

How Fear Turned a Surplus into Scarcity   3 comments

A woman in India harvesting riceLink: http://www.npr.org/blogs/money/2011/11/04/142016962/the-friday-podcast-how-fear-turned-a-surplus-into-scarcity

Summary: Story of the origins of the 2008 global rice shortage “that wasn’t”.

Original Air Date: November 4, 2011

Length: 24:33

Main story content begins: 2:12