Prompt Cast
Economist Raj Chetty's Impact on Education and Economic Inequality
TLDR Economist Raj Chetty's research highlights the influence of kindergarten teachers on future earnings and the decline in the likelihood of 30-year-olds earning more than their parents due to rising inequality. The episode also discusses behavioral economics strategies to tackle excessive Twitter usage and the sunk cost fallacy.
Timestamped Summary
00:00
The episode introduces a segment called "Can't Let It Go" where the hosts share their personal obsessions, including an economist named Raj Chetty.
02:57
Raj Chetty's research shows the significant impact of kindergarten teachers on students' future earnings and the decline in the likelihood of 30-year-olds earning more than their parents, attributing it to rising inequality.
05:26
The economist Raj Chetty appreciates being compared to Beyoncé and aims to make economic science accessible and relatable to the public.
08:35
People find comfort in routine and control during uncertain times, like enjoying a familiar meal every day.
12:18
Katie Milkman, a behavioral economist, offers advice on using commitment devices and giving each other advice to help curb excessive Twitter usage.
14:58
A discussion on the sunk cost fallacy and how it can help people let go of things that no longer make sense, like continuing to watch a TV show out of obligation rather than enjoyment.
17:55
Listeners are encouraged to share what they can't let go of with the Planet Money podcast team, as the current host announces their departure and invites applications for a new host.
