We asked 188 economists. And the survey says...

By Amanda Aronczyk,

Alexi Horowitz-Ghazi, Jess Jiang, Sam Yellowhorse Kesler

Published October 16, 2024 at 10:55 AM EDT

Let's face it. Economics is filled with terms that don't always make sense to the average person. Terms that sometimes mean what you think they mean, but sometimes not at all. Not even close.

We surveyed 188 economists. And we asked them: What are the most misunderstood terms in the field of economics?

On today's show, their answers! Hear stories about near recessions, a problem with insurance, econ at your local movie theater, and... an economics term that will make undergrads blush. Strap in, and bring your popcorn!

This episode was hosted by Amanda Aronczyk and Alexi Horowitz-Ghazi. It was produced by Sam Yellowhorse Kesler with help from Sean Saldana. It was edited by Jess Jiang, engineered by Valentina Rodríguez Sánchez and fact-checked by Sierra Juarez. Alex Goldmark is our executive producer.

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Music: Universal Production Music - "Let It Slide," "Cool Summer Groove," "Anyone But You," and "Prime Time"

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Amanda Aronczyk

Amanda Aronczyk (she/her) is a co-host and reporter for Planet Money, NPR's award-winning podcast that finds creative, entertaining ways to make sense of the big, complicated forces that move our economy. She joined the team in October 2019.

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Alexi Horowitz-Ghazi

Alexi Horowitz-Ghazi is a host and reporter for Planet Money, telling stories that creatively explore and explain the workings of the global economy. He's a sucker for a good supply chain mystery — from toilet paper to foster puppies to specialty pastas. He's drawn to tales of unintended consequences, like the time a well-intentioned chemistry professor unwittingly helped unleash a global market for synthetic drugs, or what happened when the U.S. Patent Office started granting patents on human genes. And he's always on the lookout for economic principles at work in unexpected places, like the tactics comedians use to protect their intellectual property (a.k.a. jokes).

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Jess Jiang

Jess Jiang is the producer for NPR's international podcast, Rough Translation. Previously, Jess was a producer for Planet Money. In 2014, she won an Emmy for the team's T-shirt project. She followed the start of the t-shirt's journey, from cotton farms in Mississippi to factories in Indonesia. But her biggest prize has been getting to drive a forklift, back hoe, and a 35-ton digger for a story. Jess got her start in public radio at Studio 360—though, if you search hard enough, you can uncover a podcast she made back in college.

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Sam Yellowhorse Kesler

Sam Yellowhorse Kesler is an Assistant Producer for Planet Money. Previously, he's held positions at NPR's Ask Me Another & All Things Considered, and was the inaugural Code Switch Fellow. Before NPR, he interned with World Cafe from WXPN. He graduated from the University of Pennsylvania, and continues to reside in Philadelphia. If you want to reach him, try looking in your phone contacts to see if he's there! You'd be surprised how many people are in there that you forgot about.

See stories by Sam Yellowhorse Kesler