It’s a big day for Ryan and Bridget. They’re hosting their first ever live call-in radio show to answer listeners’ questions. After some awkward stumbles in the studio, they’ll explain how the economy works, why we use money, why some stores give out coupons and why the symbol for dollars ($) is an S with a line through it.
All good questions! It’s going to be a jam-packed episode!
After you listen to the episode, here are some questions you can ask your kid listener to see how much they learned:
What’s one big reason we use the type of money we do?
Have you ever used coupons to buy a product? If so, what did you buy and how much money did you save? Did you buy that item again at its non-discount price?
Based on how your at-home economy feels, how do you think the broader U.S. economy is doing?
*Bonus* Not-So-Random Question: If you could design a new symbol for money, what would it look like?
For listeners who want to keep learning more about the economy, we’ve got ideas!
To learn more about where money comes from, check out our very first episode of Million Bazillion.
If you want to learn about the origins of the American dollar and the influence of the Spanish silver dollar, check out this history (with pictures!) of U.S. currency from the U.S. Currency Education Program at the Federal Reserve.
And if you want to dive deeper into dollar and coin symbols, take a look at this episode of “Million Bazillion” in which Bridget and Ryan travel to Washington, D.C., to figure out why different countries use different currencies.
In this episode, we learned that stores give discount coupons to customers in the hope that they’ll eventually buy the product at full price. If you want to start couponing to save money, check out this beginner’s guide from NerdWallet.
Thanks for listening to this episode! We’re always accepting more questions for future “live call-in”😉shows. Send us the questions your young listeners want answered using this online form.
This episode is sponsored by Greenlight. Get one month free and earn $10 today when you sign up for Greenlight at greenlight.com/million.
COLD OPEN:
SFX: PAPERS SHUFFLING
SFX: BUTTONS CLICKING
SFX: MIC STANDS ADJUSTMENT
ENGINEER: Bridget, Ryan — you’re on air in one minute.
RYAN: [NERVOUS] We’re pod-casters Bridget. I’m not used to this whole broad-casting thing … I don’t know if we should’ve agreed to a live radio show. It’s just not our lane!
BRIDGET: Ryan, we can’t turn down an opportunity this big! It’s Financial Literacy month and we’re taking over this radio broadcast to help celebrate. This is going to be huge for us, we’ll reach a national audience!
RYAN: “Financial Literacy”? I’ve barely mastered Regular Literacy! What if I run out of things to say? Plus you know what happens when I get nervous … I start speaking in that British accent.
BRIDGET: No, that only happened one time, there’s no way you’re gonna start talking in the British accent again! You’re gonna be great! How hard can being on the radio even be?
SFX: BUMP INTO MICROPHONE
BRIDGET: Oops, oh gosh, I just dropped the microphone! Hold on, I can fix it!
RYAN: [GASPS] Bridget! I’m not wearing my lucky socks! I knew I was missing SOMETHING … well I guess that does it … we’ll have to postpone … I can’t go on mic without my lucky socks.
BRIDGET: We go on air in 30 seconds, Ryan! What lucky socks are you even talking about? They can’t be that important if I’ve never heard of them …
RYAN: I was wearing them the day I met Skimbleshanks and I haven’t washed them since! They’ve never let me down! Not even once!
BRIDGET: Ugh, haven’t you had Skimbleshanks for like 9 years?
ENGINEER: You’re live in 10 seconds… (COUNTING DOWN OVERALAPPING IN BACKGROUND OVER THE FOLLOWING DIALOGUE) 10, 9, 8, 7, 6, 5, 4, 3, 2…)
BRIDGET: Copy that! [TO RYAN] Ryan, you need to pull it together. Socks or no socks, the show must go on.
RYAN: [VOLUME GOING UP AND DOWN] CHECK CHECK check check CHECK.
BRIDGET: Stop touching that knob!
RYAN: CHECK check CHECK.
BRIDGET: I’m not ready!
RYAN: OK, nobody panic, all right. I’m not panicking!!
ENGINEER: One.
–Theme Music–
BRIDGET: Hey everyone, I’m Bridget! Thanks for tuning in to Million Bazillion’s first ever call-in radio show … I’m here with my co-host Ryan-
(SFX: PAPERS SHUFFLING)
RYAN: (BRITISH ACCENT THROUGH END) Uhhh hey everybody! Cheers mate — I’m Ryan … We’re Million Bazillion and we help dollars make more sense. We’re coming to you live from the Marketplace World Headquarters in sunny Los Anglel-les! There’s a lot of buttons here in the studio … Oy .. kinda hard not to press ‘em. Bekah … I can take it from here …
(SFX: SOUNDBOARD ELEPHANT SOUND FX, PRESSED REPEATEDLY)
ENGINEER: Oh brother … this is going to be a train wreck.
BRIDGET: [FRANTIC, WHISPERS] What are you doing??? Don’t touch those sound effect buttons! Just stick to the script. [ANNOUNCING AGAIN] We’re going to be taking your calls and answering some questions. Our phone lines are open and we have our first call!
STELLA: Um, hi, my name is Stella and I’m in Austin Texas.
RYAN: Hi Stella, you’re live and on the air! What’s your question for Million Bazillion?
STELLA: My question is, why do we use money so much, it’s just some paper?
BRIDGET: Ooh, I got this one! We use money, whether it’s made out of paper or not, because we trust that it has value, that we can be paid in money, and then use it to buy the things we need. And paper bills are pretty easy to use, they’re lightweight to carry, you can put ‘em in your pocket.
(SFX: LOUD BUMP AGAINST MIC)
RYAN: Ouch. Whoops, I just bumped my head on my mic nodding in agreement. Go on.
BRIDGET: We’ve got a whole episode about it, and why money was invented. I’ll put it on our website, marketplace.org/million.
RYAN: Alright Stella, we hope that answers your question, thanks for calling!
STELLA: Peace!
RYAN: Okay, I’m feeling better about this! Yes, let’s keep things easy breezy with a nice, simple question from a kid. I’m just gonna take a little sip of water.
BRIDGET: Next caller! You’re on Million Bazillion live … What’s your question?
Francisco: Hi, My name is Francisco I’m calling from Placentia, California …
RYAN: Hey, Francisco … what’s your question?
FRANCISCO: I want to know, how does the economy work?
RYAN: (SPIT TAKE) What? Francisco?! Come on, my man!
BRIDGET: What? That’s a great question! … I mean, it’s a BIG one, but very relevant.
RYAN: Yeah, great, let’s tackle: “what’s the meaning of life?” next.
BRIDGET: So, “how does the economy work? … Huh …we’ve never answered that question before and this is when we turn to our very well researched and well plotted storytelling idea to help illustrate the answer to the question, but now I’m realizing (INCREASED PANIC) We’re actually live right now and we don’t have any of that! Uh, Ryan, start by telling us what the economy is!
RYAN: Yes, well, hmm, you see the economy is … well it’s this really big thing … you’re in it … I’m in it …
BRIDGET: Wait, I have an idea! We can look up the definition of ‘economy’ in the dictionary … There’s gotta be one around the office somewhere, Ryan, you’re in charge! I’ll be right back
(SFX: DOOR SWING AND SHUT)
RYAN: Um, you know the thing about the economy is sometimes it’s like this…
(SFX: SOUNDBOARD “AAWOOOGA” CAR HONK)
RYAN: And other times, it’s a little more like this…
(SFX: SPRING “BOING”)
RYAN: But if you ask the experts about it, they’ll probably say…
(SFX: KID SAYING “I REALLY LIKE CORN”)
RYAN: Or maybe even…
(SFX: JOHN TRAVOLTA SAYING THE WICKEDLY TALENTED, ONE AND ONLY, ADELE DAZEEM”)
(SFX: DOOR SWING AND SHUT)
BRIDGET: BREATHING HEAVILY
BRIDGET: [OUT OF BREATH] I got the dictionary!
(SFX: BOOK THUMPS ON DESK)
RYAN: Ow, my thumb.
BRIDGET: Sorry.
RYAN: I’m ok.
(SFX: PAGES TURNING]
BRIDGET: Alrighty … looking for ‘E’ … E-C-O-N-O-M-Y. Here it is! Economy. Noun.
(BEAT)
RYAN: Alright! Francisco … you ready to hear the answer to your question? … (BEAT) Francisco? You still there? Can you hear me?
(END CALL SFX)
(SFX DIAL TONE)
BRIDGET: Oh no! It sounds like the call dropped. We lost Francisco …
(SFX: SOUNDBOARD SAD TROMBONE, BOOS, DRAMATIC MUSIC SNAKING UP)
RYAN: No! Francisco, call us back, okay! Does anyone have Francisco’s number? If you know a Francisco out there, tell him to get back on the line with Million Bazillion! We’ve never lost a caller and we’re not starting today!! !
BRIDGET: Oh man. Okay, we better take a quick break. We’re gonna make sure our phones are working properly and we’re gonna have even better answers to your money questions! Right after this.
–Asking Random Kids NOT SO Random Questions–
ANNOUNCER: And now it’s time for Asking Random Kids Not So Random Questions. Today’s question is: If you could design a new symbol for money, what would it look like?
RANDOM KIDS: “If I had a new symbol for money, it would be a M with an X over it.” “It would be an oak tree because they live a long time, and I want my coin to last.” “A hat with a line in it! “A baseball.” “A quill pen. I think that would look good on money.” “I’d want it to look like a beach ball because beach balls are colorful, and I want money to be more colorful.”
ANNOUNCER: That was Cornelius in Spokane, Washington. Lesley in Toronto. Omi and Theodore in California. Willa in Minnesota. And Elena in Texas. This has been Asking Random Kids Not So Random Questions.
Part 1:
(SFX: PHONES RINGING)
RYAN: Annnnnd we’re back! It’s Million Bazillion live on air!
(SFX: CALL SOUNDS)
BRIDGET: Thanks for listening everybody! It looks like we’re getting a ton of calls. Let’s hear from our next caller. Eliza in Boise.
RYAN: Hey there, Eliza! You’re on Million Bazillion. What’s your question?
ELIZA: Hi, is this Turkey Confidential? I need help making a gluten-free roux for my gravy.
BRIDGET: Oh no, uh sorry. This is Million Bazillion. We don’t know anything about roux. Bye!
RYAN: Good luck with your gravy!
(SFX: PHONE HANGS UP)
BRIDGET: Pssh, how did they mix Million Bazillion up with Turkey Confidential? Weird … okay moving on … You’re live on Million Bazillion. What’s your name and where are you calling us from?
MAX: My name is Max from New York City and my question is: why do some stores give out coupons? Thank you!
RYAN: Oh I like this question! Coupons are the best. Cool story- Once I used a coupon to get 25 pounds of canned lima beans for a mere $3!
BRIDGET: Oh wow, that sounds like a great deal. I didn’t realize you liked lima beans so much!
RYAN: Thing is- I don’t! But it was such a good deal, I couldn’t pass it up! Speaking of which, good deal for me, but seems like a bad deal for stores. Why would the grocery store want to sell me something so desirable as canned lima beans for so little money?
BRIDGET: That’s a good point! Let’s call up someone who might know the answer (DIALING) Like Franklin Shaddy (PHONE RINGING) Marketing professor at UCLA.
SHADDY: Hello!
(SFX: SOUNDBOARD TRUMPET FANFARE)
BRIDGET: Hi Franklin, it’s Bridget and Ryan from Million Bazillion. We are so glad you answered your phone, we’re on LIVE radio, answering some questions and we need your help!
SHADDY: Yeah, of course.
RYAN: We’ve got Max here on the line …and he wants to know … Why do stores give away coupons?
SHADDY: So basically, stores will give out coupons to their customers when they want their customers to buy more of something. Maybe you have too many of a certain product, and if you give people a coupon to give them a bit of a discount, then they’re more likely to buy it.
RYAN: Hmm, so you’re saying lima beans may not have been flying off the store shelves? And that’s actually why the stores were giving me the coupon? Interesting. Huge if true.
SHADDY: Another situation that is pretty common is stores will offer coupons on new products. So if you’re introducing a new flavor of something, a new flavor of juice, and you want to encourage people to try it–
RYAN: Oh, I get it, you make it cost less, that’ll really lure those On-The-Fence-Oscars to try something new! But wait, it kinda feels like stores are giving away free money …
SHADDY: The reason why they’re, quote un quote “giving away free money” is because they know consumers in general like saving money and so they’re sort of like, hey, I’m going to give you a discount, isn’t that nice, that puts you in a good mood. And their goal is now that you will continue to buy that product and pay full price for that once we take away the coupon.
RYAN: Oh! That reminds me of how I found my favorite local Thai restaurant. They left a coupon outside my door a few months back and I decided to try it. And it turns out, they make a mean Tom Yum soup. I actually go there for dinner once a week now.
(RYAN AS GRUFF MAN’s VOICE ONSOUNDBOARD- GRUFF MAN SAYING “MMMM, TASTY SOUP!” WITH METALLIC SLAM)
BRIDGET: Okay, so I guess, the answer to Max’s question is, it’s all about trying to convince customers to buy a certain item that they wouldn’t try out, if the price wasn’t a little lower. I guess if this didn’t work, companies just wouldn’t do it!
RYAN: Thanks for calling in such a great question, Max! I love your streamer, by the way. Now, we’re need to pause for a short break. When we come back … more answers to your questions!
(SFX: SOME KIND OF MUSIC TO THROW TO BREAK)
[LIVE MIC MOMENT]
RYAN: (OFF-MIC) Bridget … I think I’m getting the hang of this … I don’t feel like I’m just gonna BARF over the entire studio anymore!
BRIDGET: Uh … Ryan …
RYAN: (OFF-MIC) You know, one time, I barfed so much on the school bus, the school had to sell that bus. They could no longer use that entire bus anymore. Isn’t that wild?
BRIDGET: You know our mics are still live…
RYAN: (OFF-MIC) Oh, right! I knew that …
— Midroll —
Part 2:
(PHONES RINGING)
BRIDGET: Hey everyone! Bridget and Ryan here. We’re back with more Million Bazillion live!
RYAN: It sounds like we’re still getting a TON of calls. Let’s dive right in and take another question from a caller. It’s Andre in Richmond, Virginia … Andre! What’s your question?
ANDRE: Hey! My green bean casserole never comes out soggy enough. What should I do?
BRIDGET: Ugh sorry, Andre! This is actually Million Bazillion. I think you might be looking for Turkey Confidential? Do you have any questions about the economy?
ANDRE: Oh … sorry, no. Just casserole problems. Thanks.
RYAN: Sorry about that Andre! But may I suggest adding more crispy French onions on top? Gives it a little more crunch and creates a contrast with the mush underneath. Anyways, bye.
(SFX: PHONE HANGS UP)
BRIDGET: Another Turkey Confidential caller?? How are people mixing us up? Wait a second, what’s the number for Turkey Confidential?
RYAN: Let’s see…. (READING) 555-27 (MUMBLES) Hmm, it appears to be just one digit off from OUR number!
BRIDGET: GAHHH, Sorry about that, folks. Let’s take our next call. It’s Silas in Berkeley, California. Hey Silas! You’re on Million Bazillion. What’s your question?
Silas: Why is the dollar sign have an S with a line through it?
RYAN: Great question! And right to the point! Silas is asking about the symbol for the U.S. dollar. A capital S with a vertical line through it … honestly I’m not sure how it got that way. Is “S” richer than the other letters in the alphabet? Maybe we need to get another expert on the line for some help?
BRIDGET: Oh, oh! I have an idea! There’s a money expert at the Smithsonian, and we’ve talked to her a few times about why money looks the way it does. Let me see if I can pull up her contact info … hold on, Ryan, press a button or something.
RYAN: Oh yes, we don’t want the dreaded DEAD AIR. That’s the worst thing that can happen on radio. Absolute and pure silence!
(SFX: SOUNDBOARD – ECHOEY EVIL SKELETON LAUGHTER)
RYAN: Ahhh, the soundboard just made the situation even scarier. Wait, I got it! Here’s a joke from one of our young listeners.
KID JOKE: Why did the boy eat his cash? Because it was his lunch money!
(SFX: SOUNDBOARD – LAUGHTER AND ARENA LEVEL APPLAUSE. JAZZY TALK SHOW STYLE STING)
BRIDGET: Ahhh okay, here’s that number! Dr. Ellen Feingold. She’s the curator of the National Numismatic Collection at the Smithsonian. She studies coins and other types of money. I’m sure she can help us answer Silas’ question. Calling now!
(SFX: PHONE RINGING)
RYAN: Oh thank goodness, I’m out of buttons!
(SFX: PHONE PICKS UP)
BRIDGET: Hey Ellen! It’s Bridget from Million Bazillion. I’m here with my co-host Ryan.
RYAN: [CUTS IN] Hi Ellen!
ELLEN: Hey, guys, great to hear from you. What are you up to?
BRIDGET: We’re doing a Million Bazillion show live on the radio now … and we’re hoping you can help us answer a question about the history of the dollar symbol, live, on air! Now! With people listening!
RYAN: Our loyal listener and longtime fan, Silas, wants to know why the dollar symbol is an S with a line through it.
ELLEN: That’s such a great question. I think we really don’t know exactly where it came from.
RYAN: Are you kidding me, Ellen??
ELLEN: And that has left a lot of space for people to develop various theories about the origins of the dollar sign, and what sort of colonial connections the modern dollar might have.
BRIDGET: Oh cool! It’s like a money mystery! So, what are the theories?
ELLEN: The first theory is that the peso, the Spanish silver coin—
RYAN: Wait a second, we’re talking about the AMERICAN dollar…why would Spanish dollars have anything to do with anything?
ELLEN: When American colonists first came to America, they didn’t have like an American currency. They used whatever they could that was in the colonies in the Americas. So that could be beaver pelts, Native American wampum. Nails, cannon balls, I mean, really, anything that could be useful in exchange became part of the colonial economy.
RYAN: Wow, what a free for all, anything could be used as money if someone was willing to accept it!
ELLEN: But one of the most important currencies of the colonial economy in the Americas was the Spanish silver dollar. It’s also known as the peso, or piece of eight, eight rial coin. This became the world’s first global currency. It was used around the world and it was incredibly significant in driving the colonial economy and other economies at that time, The silver dollar, the Spanish peso, would have been considered a very desirable currency.
RYAN: Wow, the world’s first global currency! Or a celebrity currency if you will!
ELLEN: So our first American silver dollars minted in the Philadelphia Mint in 1794, were based on the Spanish Silver Dollar, similar weight, similar size. It’s very easy when you look at the two objects next to each other to see that the US system is based on this Spanish coin.
RYAN: Okay, so the first American dollars were basically like, playing dress up as Spanish Silver Dollars. That’s a twist!
ELLEN: So, the Spanish silver coin –the peso is abbreviated P S, and that the P and the S sort of merge into one symbol, which is eventually the dollar sign, so the S is clear, and then the P kind of loses its top loop, right, but it keeps the straight line.
RYAN: Huh I see … like if you smush an S and P together … and squint … it sorta looks like a dollar sign. So we wanted the dollar sign to look like the peso sign. Got it.
ELLEN: The second theory is that because Spanish silver dollars were worth eight reales, the number eight is seen as potentially the origin for the S curve of the dollar sign,
BRIDGET: Oh, right, reals being the currency of Colonial era Mexico. Mexico at this time. Okay, the S with a line through it is supposed to be a weird looking eight, that’s a fine theory.
ELLEN: And then the third theory, which is my personal favorite theory, is that the dollar sign comes from the design on the Spanish silver dollar.
BRIDGET: Hang on, I’m Googling the Spanish silver dollar now and yeah, okay, I guess I see it. There’s this column or pillar on either side, and there’s like a ribbon sort of snaking down and it sort of looks like an S … Yeah, okay, totally, okay, I see it. It’s like I always say … money is art.
RYAN: Yeah, and I don’t collect either.
(SFX: SOUNDBOARD SAD TRUMPET WOMP WOMP)
BRIDGET: Well, I think that answers Silas’ question. Thank you so much Dr. Feingold. We’ll talk soon!
ELLEN: You’re welcome. Always great to talk to you. Have a great day!
(SFX: PHONE HANGS UP)
BRIDGET: That was great! Ryan, this is so much fun, we should do this every season!
(SFX: HOWARD DEAN’S “YEAAHHH” SCREAM)
RYAN: Couldn’t agree more! And I just discovered a whole new panel of soundboard buttons …
(SOUNDBOARD SFX: AIRHORN, KID SAYING “CHARLIE BIT MY FINGER”, GW BUSH SAYS, “FOOL ME CAN’T FOOLED AGAIN”, “AAAAOOOGA!” CAR HORN)
BRIDGET: Alright, alright. Cool it with the sound effects. But we’re running out of time and it looks like we have two more callers!
RYAN: OH thank time, I’m almost all broadcasted out for the day! Honestly. The next caller is Haley in Paris, Texas. Hey there, Haley! You’re on Million Bazillion. What’s your question?
HALEY: Oh, umm … What’s Million Bazillion? My question is- if I wish on the wishbone and lose, does the opposite of my wish come true or does just nothing happen? Is this you, Francis?
RYAN: [SIGHS] Not Francis. You have the wrong number.
HALEY: What? Uh, okay, thanks I guess?! Bye.
(SFX: WOMP, WOMP, WOMP SOUNDBOARD)
BRIDGET: If we ever do a live radio show again, we are NOT having it on the same day as any other notable public media live call-in shows whose phone numbers are one digit off from our own!
RYAN: Well, at least now we just have one caller left … Francisco … Wait, Francisco, is that you??? OUR Francisco?
FRANCISCO: Hello … are you there? Are you gonna answer my question “how does the economy work? I’ve been waiting for like, the whole show.”
RYAN: FRANCISCO?!? You’re still on the line?
(SFX: PHONE HANGS UP)
BRIDGET: Oh my gosh, Ryan, I think you had Francisco on HOLD for practically the whole show! [LAUGHS NERVOUSLY] Francisco, I am SO sorry! How embarrassing for us…
RYAN: Well, we didn’t actually get to answer Francisco’s question the first time around, so let’s do it.
BRIDGET: Yeah, to be fair, it was early, we weren’t warmed up! And you know, we were still getting the lay of the land here in the studio … I think we’re ready to tackle the question now Maybe we need to phone a friend for this one too?
RYAN: Well, we are at the Marketplace World Headquarters … Someone in this office must know a thing or two about the economy
BRIDGET: Oh, yess. Let’s get OUT of the booth, and see who here at Marketplace World Headquarters can answer this for us! Grab your microphone, Ryan!
[SFX: PICKING UP ITEMS, FOOTSTEPS, DOORS OPENING]
RYAN: Ok, hopefully these cords will stretch through the entire office.
BRIDGET: OK, we’re walking down the halls of Marketplace.
VO: [URGENTLY] I need the latest numbers for the S&P, stat!
VO 2: [URGENTLY] I’ll have it to you in five minutes!
RYAN: Wow, everyone’s working so fast!
VO 3 (OFF MIC): Hey, who took my sandwich?
(SFX: SABRI DOING THE NUMBERS)
BRIDGET: Okay, they’re busy in there…
(SFX: CLIP FROM CRYPTO EPISODE, RYAN DOING SHOCK JOCK IMPRESSION)
RYAN: What are they even doing in there?
BRIDGET: No idea, but the energy in this place is just thrilling!
SFX:VO: (WHISPER OVERNIGHT VOICE) I’m Paul Peanut, and who’s Yellen now…(DESSA YELLEN SONG)
BRIDGET: Ah, these membership drives are really getting weird.
RYAN: Ooo, here’s the trophy shelf with all the awards Marketplace shows have won. Oh wow, every show has won a Teddy award. Except us. I thought that was supposed to just be an award for kids show. Fine, let’s move on.
BRIDGET: Around this corner, ahhh!
KAI: Can I help you two?
BRIDGET: [FLUSTERED] Oh, hi! Omg, wow it’s Kai Ryssdal! Host of Marketplace.
RYAN: Sorry to bother you, Mr. Ryssdal. We don’t want to interrupt your power walking or anything … That sandwich you’re holding looks really tasty by the way … But we’re doing a live broadcast of Million Bazillion and we need some help answering a question about the economy. Can you help us out with that?
KAI RYSSDAL: Sure … but you gotta walk with me because I go live in 2 minutes and I still have to print scripts …
BRIDGET: Ok, one of our listeners wants to know how the economy works. In two minutes or less, how would you answer that?
KAI RYSSDAL: So look, when people say “the economy” what they really mean is…PEOPLE! Specifically, all of the people making things and all of people buying and selling those things.
RYAN: So like, people making, for instance, delicious-looking artisan sandwiches, for example …and the guy running the store that sells the artisan sandwiches. And then the people who end up buying those artisan sandwiches!
(SFX PRINTER)
KAI RYSSDAL: Exactly. And those ‘things’ can be either goods like the sandwiches you mentioned … or this printer … or they can be services like a haircut or skiing lessons. All of that making, and buying and selling together makes up a country or region’s economy.
RYAN: Fascinating. By the way, Sir, has anyone ever told you that you kinda sound like Federal Reserve Chair Jay Powell?
BRIDGET: Okay, but how does the economy work?
ENGINEER: 30 SECONDS, Kai.
KAI RYSSDAL: Sorry, that’s my cue … gotta go… but hey Amy’s in the office today … you may wanna ask her.
AMY SCOTT: Ask me what?
BRIDGET: Amy Scott! Longtime Marketplace Senior Correspondent and Host! It’s good to see you …
RYAN: Hi Amy, a listener wants to know how the ecomony works- I mean, how the wakandame works- I mean, how the economy works.
AMY: Well, I’m on my way out actually but I can tell you on my way to the elevator … So … One way to understand the economy is to look at the way households spend money. Households are basically another way to say a group of people who live together and share money and money decision making. Households are actually small pieces of the larger economy.
RYAN: Like a mini economy?
AMY: Yeah. Like that.
RYAN: See? I get this stuff too. I’m smart too.
(SFX: ELEVATOR BELL DING, DOORS CLOSE)
(SFX: SOFT ELEVATOR IN BACKGROUND)
AMY: Each household has money they earn and money they spend. A parent might go to work to earn money (SFX: WOMAN: Goodbye!) … and then they use that money to buy food or pay a pet sitter (SFX: WOOF) or other things the family needs … and the kids might do chores around the house (SFX: LAWNMOWER) and in exchange they earn an allowance (SFX: COINS JANGLING)… and when all those individual actions add up together, it gives us a bigger picture of what the economy as a whole is doing and why.
BRIDGET: Oh, okay, so it’s that movement, that flow of all that money, and goods and services, those individual choices we’re all making with our money, that’s the economy.
AMY: Yeah, exactly. Does that help answer your question?
RYAN: Yes, it does!
BRIDGET: Thank you for your help, Amy! And Ryan, we better get back to the studio to wrap up our live show now. Bye!
(SFX: ELEVATOR DOOR OPENS, HELICOPTER STARTING UP)
RYAN: Wait a minute! The elevator goes to a rooftop helipad?! Since when does Marketplace have a helicopter?
AMY: (LOUD) I’m headed to Vegas to cover a big economic conference … see you later! Take her up, Blaze!
(SFX: HELICOPTER FLYING AWAY)
RYAN: Wait! No fair! How come we’ve never gotten to use the helicopter?
BRIDGET: I think it’s reserved for radio people. Not podcast people.
RYAN: Awww. Nuts!
BRIDGET: Let’s get back in the elevator…
BRIDGET: (SNIFFS) Hey, what’s that smell?
RYAN: My lucky socks! They were here this whole time! Okay Bridget, I feel ready to answer a thousand money questions, bring ‘em on!
BRIDGET: Ooh, well actually, it’s time to end the show!
RYAN: Already?
BRIDGET: So, Ryan, what did we learn?
RYAN: Well, dead air is nothing to be afraid of, live radio involves a lot of buttons, and there are a lot of good money questions out there, you just have to ask ‘em.
BRIDGET: (SENTIMENTAL) Awww, that’s a great summation, Ryan.
(SFX: SOUNDBOARD CLICK)
(SFX: SOUNDBOARD: “AND BOOM GOES THE DYNAMITE!”)
BRIDGET: Alright alright, hit that theme music!
(SFX: “MONDAY NIGHT FOOTBALL” THEME)
BRIDGET: No! Our theme!
-Theme Music-
BRIDGET: That’s it for this live broadcast of Million Bazillion! Thanks for listening! Make sure to check out the tip sheet linked in the show notes if you want to learn more about the questions we talked about during the show
RYAN: We’ll be back next week to answer another money question, but in a totally normal podcast, my heart can’t take another one of these live shows right away!
BRIDGET: You can send us the money questions you want answered at marketplace.org/million.
RYAN: Wait, wait I have the perfect sound effect cued up for this … hold on …
(SFX: AUDIENCE APPLAUSE)
RYAN: And Million Bazillion is brought to you by Marketplace, from American Public Media. This episode was written by Courtney Bergsieker and Marissa Cabrera, with additional writing and hosting by me, Ryan Perez and Bridget Bodnar.
BRIDGET: Special thanks to everyone who helped us answer our questions today! Ellen Feingold, curator of the National Numismatic Collection at the Smithsonian, Franklin Shaddy at UCLA, Kai Ryssdal and Amy Scott at Marketplace.
RYAN: Also thank you to some extra voicing talent: Bekah Wineman, Courtney Bergsieker, David Escobar, Alice Wilder, Kai Ryssdal, Sabri Ben Achour and Amy Scott.
BRIDGET: Jasmine Romero is our editor. Courtney Bergsieker is our producer. Marissa Cabrera is our senior producer. Thalia Menchaca is our intern. Our sound designer is Chris Julin. And Bekah Wineman mixed this episode.
RYAN: Our theme music was created by Wonderly. Bridget Bodnar is the Director of Podcasts at Marketplace. Francesca Levy is the Executive Director of Digital. Neal Scarbrough is the VP and General Manager.
BRIDGET: Million Bazillion is funded in part by the Sy Syms Foundation, partnering with organizations and people working for a better and more just future since 1985. And special thanks to The Ranzetta Family Charitable Fund and Next Gen Personal Finance for providing the start-up funding for this podcast, and continuing to support Marketplace in our work to make younger audiences smarter about the economy.
RYAN: If Million Bazillion is helping your family have important conversations about money, consider making a one-time donation today at marketplace.org/givemillion, and thanks for your support.
-POST CREDIT SCRIPT-
RYAN: Phew! Glad we made it through that!
BRIDGET: Oh, yeah, wasn’t sure we were gonna make it.
(SFX: CAT PURR)
RYAN: Oh, come on in Skimbleshanks. Daddy’s all done with his broadcasting for the day. You want some food? Oh, here you go. Ok, come on little guy, one for you, one for me…
(SFX: RYAN CHEWS)
BRIDGET: Um, Ryan, are you eating cat food?
RYAN: Oh, yeah. I like the taste- so Skimbleshanks sometimes lets me have some of his food. But don’t let anyone know- I’d be really embarrassed to be known as Ryan, the guy who eats cat food.
BEKAH: Uhhh, you two are still on the air.
RYAN: What!
BRIDGET: I didn’t know!
RYAN: Come on! You gotta let me know these things
BRIDGET: The lights off!
The Ranzetta Family Charitable Fund and Next Gen Personal Finance, supports Marketplace’s work to make younger audiences smarter about the economy. Next Gen Personal Finance is a non-profit that believes all students benefit from having a financial education before they cross the stage at high school graduation.
Greenlight is a debit card and money app for kids and teens. Through the Greenlight app, parents can transfer money, automate allowance, manage chores, set flexible spend controls and invest for their kids’ futures (parents can invest on the platform too!) Kids and teens learn to earn, save, spend wisely, give and invest with parental approval. Our mission is to shine a light on the world of money for families and empower parents to raise financially-smart kids. We aim to create a world where every child grows up to be financially healthy and happy. Today, Greenlight serves 5 million+ parents and kids, helping them learn healthy financial habits, collectively save more than $350 million to-date and invest more than $20 million.
The Sy Syms Foundation: Partnering with organizations and people working for a better and more just future since 1985.
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