The Indicator from Planet Money

Beach reads with a side of economics

5 snips
Aug 12, 2024
Dive into summer reading with thrilling picks that explore deep themes. Discover the magical realism of migration in 'Exit West' and how economic systems shape lives. Unpack the significance of Bayesian statistics through relatable examples and the value of generalist skills in a specialized world. Engage in a humorous take on learning instruments while tackling the sunk cost fallacy. It’s a delightful mix of literature and economics that inspires both thought and joy!
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ANECDOTE

Exit West

  • In Exit West, a couple escapes a conflict-torn city through magical doors.
  • These doors transport people to different locations, highlighting migrant experiences.
INSIGHT

Migration and Economics

  • Exit West explores economic systems' reactions to mass migration.
  • It examines how access to desirable destinations becomes controlled and how migrants build new communities.
ANECDOTE

Bayesian Statistics and COVID Tests

  • Darian Woods discusses Bayesian statistics, a way of incorporating prior knowledge into probability calculations.
  • He gives an example of how a COVID test's accuracy changes depending on the infection rate in an area.
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