‘Two Truths and a Lie’, Planet Money Game Show: Planet Money : NPR

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The Planet Money team hosted a special evening of music, clothing, and economics at the Warren Miller Center for the Performing Arts in Big Sky, Montana.

Josh Newell/NPR

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Josh Newell/NPR

The Planet Money team hosted a special evening of music, clothing, and economics at the Warren Miller Center for the Performing Arts in Big Sky, Montana.

Josh Newell/NPR

The economic shock of the pandemic has provided us with a large number of natural experiments that help prove or refute conventional economic thinking.

for example, Bullwhip effectthat is, the farther away from the customer in the supply chain, the greater the volatility of orders.

The bullwhip effect can send shockwaves through the supply chain. A small change in consumer habits can cause a huge swing for a brewer at the other end of the supply chain.

Joanna Pawlowski/NPR

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Joanna Pawlowski/NPR

The theory has been applied on a large scale during the pandemic, as consumers and businesses overreacted to the risk of shortages by ordering more products and stockpiling, leading to a massive shift in supply chains — just as the theory suggests.

The pandemic has given us many of these natural experiments. So, in this special live edition of Planet Money, we looked for other important economic lessons from the past three years and turned that information into… a game show! It’s Two Truths and a Lie: Economic Edition. We explore labor and labor market issues during the pandemic, and how it’s affecting how economists think about the world.

Additional reading by Lise Vesterlund:

…from Pavlina Tcherneva:

…and Gbenga Ajilore:

This show is hosted by Mary Childs. It is produced by Dave Blanchard and edited by Jess Jiang. Josh Newell designed the show with help from Robert Rodriguez. Jesse Perlstein composed the original music.