The Indicator from Planet Money Why are veterinarian bills getting so ruff on the wallet?
40 snips
Oct 20, 2025 Veterinary bills have surged by 40% since 2020, leaving many pet owners struggling to afford necessary care. A veterinarian shares insights into the rising costs and the economic theories that explain this trend. The episode delves into how inflation impacts pet healthcare and discusses the broader implications on pet ownership. Tune in for a look at the economic forces affecting our furry friends' well-being!
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Theory And Practice Fueled The Scientific Revolution
- Joel Mokyr argues that marrying propositional (theory) and prescriptive (practice) knowledge drove major technological improvements.
- This feedback loop made products like steam engines far more efficient by applying scientific laws to practical tests.
Explanations Reduce Resistance To Change
- Explanations make new practices more persuasive and easier to adopt.
- Mokyr notes that knowing germs exist made handwashing far less controversial and more widespread.
Institutions Determine Whether Innovation Wins
- Openness of institutions is a crucial ingredient for sustained technological growth.
- Mokyr argues political structures that give broader groups a voice help new technologies diffuse despite vested opposition.
