Hear us out: We ban left turns and other big ideas
Jan 24, 2024
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This podcast discusses three big economic ideas: banning left turns at intersections to improve safety, addressing wealth inequality with baby bonds, and exploring the negative impact of US democracy on the economy. The episode introduces Vakash Gaya's idea for improving downtown areas and previews a daring rescue at sea in the next episode.
Banning left turns on roads can reduce overall travel time and decrease accidents.
Implementing baby bonds could help bridge the racial wealth gap by providing assets and opportunities to children from wealth-poor families.
Deep dives
Ban Left Turns on the Road
One big idea from the podcast episode is to ban left turns on the road. According to Vakash Gaya, a civil engineer, left turns are risky and often lead to accidents. By eliminating left turns, the overall travel time for everyone would be reduced, even though some individuals may have to travel slightly longer distances. UPS drivers already avoid left turns as part of their delivery routes. Implementing this idea would require changes to traffic regulations, such as designating certain times for no left turns.
Baby Bonds to Close the Racial Wealth Gap
Economist Derek Hamilton proposes the idea of baby bonds as a solution to the racial wealth gap. Baby bonds would create a trust account for every newborn, with varying amounts based on the economic circumstances of the family. Over time, additional funds would be added to the account, allowing children from wealth-poor families to accumulate assets. By the age of 18, these funds could be used for purposes like down payments on homes, college tuition, starting a business, or investment. This would help address the disparity in wealth between white households and non-white households.
Replacing Congressional Districts with Proportional Representation
Economist Daron Acemoglu suggests replacing the current winner-takes-all system of congressional elections with a proportional representation system. Under this new system, voters would no longer vote for individual candidates but for political parties. Each party would have a list of candidates, and the number of seats a party gets in Congress would be based on the percentage of votes they receive. This would ensure that a wider range of views is represented in Congress, as opposed to the current winner-takes-all system that often leaves a significant portion of the population without representation.
On today's episode, we have three big economic ideas for your consideration – ideas that could potentially improve the economy and make us more efficient.
First, what if we ban left turns on roads? Then, what if we gave every new baby ... a trust fund? And lastly, what if we completely got rid of U.S. congressional districts?
That's all on today's episode.
This show was hosted by Sarah Gonzalez. It was produced by Willa Rubin and Emma Peaslee with help from Sam Yellowhorse Kesler. It was edited by Dave Blanchard and engineered by Robert Rodriguez. It was fact-checked by Sierra Juarez. Alex Goldmark is Planet Money's executive producer.