Oxford College Principles of Microeconomics Course

Planet Money: Big Government Cheese


Listen Later

From Planet Money:
In 1976, Jimmy Carter made a campaign promise: I'm giving dairy farmers a break. And after he won, he set out to raise the price of milk. But that's easier said than done. The government couldn't just buy milk. They had to buy something storable that used a lot of milk. So the government started buying up as much cheese as people wanted to sell at the new price.

The government wound up spending a lot of cheddar on a lot of cheddar, billions of dollars. Eventually, they bought so much cheese, they had to rent caves to store it all. And when they started giving it away, they unintentionally created a cultural phenomenon: ""Government cheese"" shows up in comedy sketches, songs, even a cooking show by Martha Stewart and Snoop Dogg.

Today on the show, how a well-intentioned program to help out farmers turned into a slow-moving economic trainwreck... and some pretty tasty cheese.
...more
View all episodesView all episodes
Download on the App Store

Oxford College Principles of Microeconomics CourseBy Professor Daniel Ludwinski

  • 4.5
  • 4.5
  • 4.5
  • 4.5
  • 4.5

4.5

13 ratings


More shows like Oxford College Principles of Microeconomics Course

View all
Freakonomics Radio by Freakonomics Radio + Stitcher

Freakonomics Radio

32,061 Listeners

The Daily by The New York Times

The Daily

111,929 Listeners

Up First from NPR by NPR

Up First from NPR

56,595 Listeners

Chasing Life by CNN Podcasts

Chasing Life

8,188 Listeners