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Jan 19, 2021

Rigging a game of Monopoly to illustrate economic inequality

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An academic study featuring the board game shows that random success goes to our heads, with implications for widening economic inequality. Plus, Biden's pick to lead the Consumer Financial Protection Bureau. And, Janet Yellen's confirmation hearing to become the next secretary of the treasury begins.

Segments From this episode

Janet Yellen begins her confirmation hearing in the Senate to become the next secretary of the treasury

"Her prepared testimony is basically a pitch for the $1.9 trillion stimulus proposed by President-elect Biden last week," said Christopher Low, chief economist at FHN Financial. "So she will be in the Senate chamber, pitching this new stimulus, which, of course, is partly COVID relief, but also a down payment on the incoming president's vision for spending in his first term." Low also said Yellen is on the side of expansive spending right now. "And the reasoning is that even though we have a fairly large deficit, interest rates are so low, it makes sense to spend money now," Low said. "Which, interestingly enough, right, is a message that we've also heard from officials at the Fed."

Why rich people tend to think they deserve their money

Jan 19, 2021
A psychology experiment using a rigged Monopoly game reveals how inequality replicates itself.
A psychology experiment using a rigged Monopoly game reveals how inequality replicates itself.
Alex Wong/Getty Images

Music from the episode

Stressed Out Twenty One Pilots

The team

Nicole Childers Executive Producer
Victoria Craig Producer, BBC
Stephen Ryan Producer, BBC
Jonathan Frewin Producer, BBC
Daniel Shin Producer
Jay Siebold Engineer
Brian Allison Engineer
Alex Schroeder Digital producer
Meredith Garretson Producer
Erika Soderstrom Producer/Director