David Kestenbaum

David Kestenbaum is a correspondent for NPR, covering science, energy issues and, most recently, the global economy for NPR's multimedia project Planet Money. David has been a science correspondent for NPR since 1999. He came to journalism the usual way — by getting a Ph.D. in physics first.

In his years at NPR, David has covered science's discoveries and its darker side, including the Northeast blackout, the anthrax attacks and the collapse of the New Orleans levees. He has also reported on energy issues, particularly nuclear and climate change.

David has won awards from the American Association for the Advancement of Science, the American Physical Society and the Institute of Electrical and Electronics Engineers.

David worked briefly on the show This American Life, and set up a radio journalism program in Cambodia on a Fulbright fellowship. He also teaches a journalism class at Johns Hopkins University.

David holds a bachelor's of science degree in physics from Yale University and a doctorate in physics from Harvard University.

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Planet Money
5:03 am
Thu April 9, 2015

CEO Describes What It's Like When Investors Bet Against You

Originally published on Thu April 9, 2015 12:29 pm

The online furniture company Wayfair is now one of the most shorted stocks. Our Planet Money team talks to its CEO about what it's like to be running a company when some investors are betting on your fall.

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

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Planet Money
4:32 pm
Wed April 1, 2015

On April Fools' Day, Planet Money Tries Out Economics Jokes

Originally published on Wed April 1, 2015 8:00 pm

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

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Planet Money
5:36 am
Thu February 26, 2015

Greek Finance Minister Gets A Chance To Fix Beleaguered Economy

Originally published on Thu February 26, 2015 7:52 am

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

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Planet Money
5:06 pm
Fri February 20, 2015

Bakers And The Birth Of The Minimum Wage

Originally published on Fri February 20, 2015 10:43 pm

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

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On January 1, 20 states raise their minimum wage and several states have additional increases planned in the coming months. Yesterday, we learned that Walmart will raise its base pay to $9 an hour this April.

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Planet Money
3:36 am
Thu August 21, 2014

Typewriters, Underwater Hotels And Picturephones: The Future, As Seen From 1964

General Motors

Originally published on Fri August 22, 2014 4:56 pm

The 1964 World's Fair showcased jet packs and new miracles of science. There was an entire house made of Formica. You could wipe it clean with a sponge!

The people who put the fair together tried to imagine how the future would look. Here are a few predictions, and how they actually turned out.

1. We had picture phones back then?

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Business
7:02 am
Fri August 1, 2014

Everyone Goes To The Store To Get Milk. So Why's It Way In The Back?

Originally published on Fri August 1, 2014 7:14 am

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

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Planet Money
5:12 am
Thu June 12, 2014

Volatility Index Indicates Wall Street Is Bored

Originally published on Thu June 12, 2014 9:40 am

An economic indicator commonly called the VIX, volatility index, is also known as the fear index. Whatever you call it, the index is hitting lows not seen since before the financial crisis.

Planet Money
5:05 am
Thu May 22, 2014

On The Internet, A Penny Is Nothing To Sneeze At

Originally published on Thu May 22, 2014 9:18 am

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

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Around the Nation
4:00 pm
Wed May 14, 2014

The Mystery Of Tappan Zee: Why Build A Bridge Where The River's Wide?

Originally published on Wed May 14, 2014 7:59 pm

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Now, there's a curious fact about the Tappan Zee Bridge that President Obama was standing next to today. It's located at a spot where it seems to make the least economic sense to place a bridge - one of the widest parts of the Hudson River. Three years ago, David Kestenbaum of our Planet Money team dug into this. Here's an encore presentation of his report.

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Economy
4:44 pm
Fri May 2, 2014

The History Of Light, In 6 Minutes And 47 Seconds

Originally published on Wed September 17, 2014 11:57 am

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

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And now, 4,000 years of economic growth in seven minutes. This story comes, of course, from our Planet Money team. David Kestenbaum and Jacob Goldstein bring us the history of light and how the world came what it is today.

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Health Care
5:03 pm
Thu April 24, 2014

How One State Convinced Its 'Young Invincibles' To Get Health Insurance

A 2008 ad trying to convince uninsured Massachusetts residents to get signed up for health insurance.
Sawyer Miller Advertising

Originally published on Fri April 25, 2014 12:45 pm

Buying insurance doesn't always feel like it makes economic sense, especially for young healthy people. So why are they still willing to pay?

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

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Planet Money
4:59 am
Fri April 4, 2014

New Web Addresses Provide Alternatives To Crowded Domains

Originally published on Fri April 4, 2014 8:22 am

Transcript

STEVE INSKEEP, HOST:

On a Friday it's MORNING EDITION from NPR News. Good morning. I'm Steve Inskeep.

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Planet Money
3:39 am
Fri January 17, 2014

The Birth Of The Minimum Wage In America

Franklin D. Roosevelt Libarary

Originally published on Fri January 17, 2014 4:46 pm

In 1895, legislators in New York state decided to improve working conditions in what at the time could be a deadly profession: baking bread.

"Bakeries are actually extremely dangerous places to work," says Eric Rauchway, a historian at the University of California, Davis. "Because flour is such a fine particulate, if it gets to hang in the air it can catch fire and the whole room can go up in a sheet of flame."

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Planet Money
5:22 am
Thu January 2, 2014

A Bet, Five Metals And The Future Of The Planet

James Cridland Flickr

Originally published on Wed January 8, 2014 11:24 am

This famous bet — between a biologist and an economist — was over population growth. It started three decades ago, but it helped set the tone for environmental debates that are still happening today.

The biologist at the heart of this bet was Paul Ehrlich at Stanford. He wrote a best-selling book in 1968 called The Population Bomb. It was so popular he appeared on The Tonight Show with Johnny Carson.

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Planet Money
3:53 pm
Wed December 11, 2013

We Found This 20-Year-Old T-Shirt In Kenya. The Internet Found The Original Owner

Tshirt
Quoctrung Bui

Originally published on Thu December 12, 2013 12:46 am

We recently published a story about how used clothes that get donated in the U.S. often wind up for sale in markets in Africa. As part of the story, we published some photos of used T-shirts we found in a couple of markets in Kenya.

One shirt in particular caught our eye:

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Planet Money
3:00 am
Fri November 22, 2013

A Bitcoin Insider On Crime, Congress And Satoshi Nakamoto

This is not a bitcoin.
eagleapex's posterous Flickr

Originally published on Fri November 22, 2013 11:48 am

For more on what Bitcoin is and how it works, see our story "What Is Bitcoin?"

Gavin Andresen is chief scientist at the Bitcoin Foundation. I first talked with him about Bitcoin, the virtual currency, back in 2011. I checked back in with him this week, because so much has been going on with Bitcoin lately.

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Planet Money
3:06 am
Fri November 15, 2013

What's A Bubble?

Robert Shiller and Eugene Fama shared this year's Nobel Memorial Prize.
AP

Originally published on Sun November 17, 2013 1:58 pm

Robert Shiller was surprised when he got the call telling him he'd won the Nobel Memorial Prize in economics — surprised that he'd won (of course), but also surprised that he was sharing the award with Eugene Fama.

"He and I seem to have very different views," Shiller told me. "It's like we're different religions."

In particular, they have very different views about economic bubbles.

"The word 'bubble' drives me nuts, frankly," Fama told me.

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Planet Money
3:29 am
Fri October 25, 2013

What Happens When You Just Give Money To Poor People?

Bernard Omondi got $1,000 from GiveDirectly.
Jacob Goldstein NPR

Originally published on Fri October 25, 2013 10:34 am

For more of our reporting on this story, please see our work in The New York Times Magazine and on This American Life.

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Planet Money
3:00 am
Thu October 10, 2013

What A U.S. Default Would Mean For Pensions, China And Social Security

iStockphoto.com

Originally published on Thu October 10, 2013 12:38 pm

What would happen if Congress doesn't raise the debt ceiling and the U.S. defaults on its debt later this month? The broad economic implications are unpredictable, but a default could cause huge trouble for the global economy.

But whatever happens to the global economy, one thing is clear: People all over the world who have loaned the U.S. government money won't get paid on time.

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The Two-Way
1:55 pm
Tue October 8, 2013

An Aerogramme From Professor Higgs, Nobel Winner

Letter from Peter Higgs
David Kestenbaum NPR

Originally published on Tue October 8, 2013 6:02 pm

Well, it's happened. British scientist Peter Higgs has won a Nobel Prize for proposing the Higgs boson particle as part of a mechanism that explains how things in the universe came to have mass.

Higgs seems to be lying low today so far — a colleague told The New York Times that Higgs had "gone off by himself for a few days without saying where" and that a reporter seeking an interview recently had been "sent away with a flea in his ear."

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Planet Money
3:36 am
Mon September 30, 2013

One Key Thing No One Knows About Obamacare

Getty Images

Originally published on Mon September 30, 2013 7:44 am

Tuesday is a big day for Obamacare. The online marketplaces where people can shop for health insurance are supposed to open for business.

No one really knows who is going to sign up — not the Obama administration, not the insurance industry, not the president's critics. Yet the success of the law hangs on this question: Will the right mix of people sign up? In particular, will healthy people buy health insurance?

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Planet Money
3:24 am
Fri August 23, 2013

The Charity That Just Gives Money To Poor People

Bernard Omondi got $1,000 from GiveDirectly.
Jacob Goldstein NPR

Originally published on Fri August 23, 2013 1:41 pm

For more of our reporting on this story, please see our recent column in the New York Times Magazine, and the latest episode of This American Life.

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Planet Money
10:03 pm
Thu July 4, 2013

Why Doesn't Everybody Buy Cheap, Generic Headache Medicine?

Same pills. Lower price.
Paul Sancya AP

Originally published on Fri July 5, 2013 9:03 pm

Why does anyone buy Bayer aspirin — or Tylenol, or Advil — when, almost always, there's a bottle of cheaper generic pills, with the same active ingredient, sitting right next to the brand-name pills?

Matthew Gentzkow, an economist at the University of Chicago's Booth school, recently tried to answer this question. Along with a few colleagues, Gentzkow set out to test a hypothesis: Maybe people buy the brand-name pills because they just don't know that the generic version is basically the same thing.

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Planet Money
3:46 am
Fri June 28, 2013

Economists Have A One-Page Solution To Climate Change

CX Matiash AP

Originally published on Fri June 28, 2013 10:45 am

Climate change seems like this complicated problem with a million pieces. But Henry Jacoby, an economist at MIT's business school, says there's really just one thing you need to do to solve the problem: Tax carbon emissions.

"If you let the economists write the legislation," Jacoby says, "it could be quite simple." He says he could fit the whole bill on one page.

Basically, Jacoby would tax fossil fuels in proportion to the amount of carbon they release. That would make coal, oil and natural gas more expensive. That's it; that's the whole plan.

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Planet Money
3:03 am
Thu June 20, 2013

A Surprising Barrier To Clean Water: Human Nature

Rodan Gatia gets water from a spring. A chlorine dispenser is behind her.
Jacob Goldstein NPR

Originally published on Mon June 24, 2013 10:38 am

In many parts of the developing world, drinking a glass of water can be deadly — especially for young children, who can die of diarrheal diseases contracted from dirty water.

So getting clean water to people in the developing world has been a top priority for aid groups for a long time. But it's been a surprisingly hard problem to solve.

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Planet Money
3:30 am
Thu April 25, 2013

Lady Gaga Writing A New Song Is Like A Factory Investing In A New Machine

But is it GDP?
Charles Sykes AP

Originally published on Fri April 26, 2013 2:46 am

I spoke yesterday with Dan Sichel, a Wellesley economist and a Lady Gaga fan. Both of these facts are relevant for this story.

The U.S. government is about to tweak the way it measures the economy, and some of the biggest changes will affect the entertainment industry.

Under the current system, Sichel told me, Lady Gaga's sales of concert tickets, online songs and CDs all count toward gross domestic product. But the value of the time she spends in the studio working on new songs isn't counted. That's about to change.

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Planet Money
3:41 am
Thu March 28, 2013

When A Famous Hospital Didn't Want An Expensive New Drug

Andrei Tchernov iStockphoto.com

Originally published on Thu March 28, 2013 10:03 am

Last year, a new drug called Zaltrap was approved as a kind of last-chance therapy for patients with colorectal cancer. Studies suggested Zaltrap worked almost exactly as well as an existing drug called Avastin. In fact, the main difference between the two drugs seemed to be the price.

"I was rather stunned," Dr. Leonard Saltz, who specializes in colorectal cancer, told me.

Zaltrap costs about $11,000 per month — about twice as much as Avastin, Saltz said.

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Planet Money
3:05 am
Thu February 21, 2013

Three Ways To Totally Transform U.S. Immigration Policy

Immigrants wait for their citizenship interviews at the U.S. Citizenship and Immigration Services on Jan. 29.
John Moore Getty Images

Originally published on Thu February 21, 2013 10:42 am

With immigration policy in the news again, I asked three economists, "Dream big: If you could create any immigration policy for the U.S., what would it be?" Here's what they said.

1. The Best And The Brightest

Dean Baker of the Center for Economic and Policy Research would give out more visas to highly skilled workers: scientists, engineers, computer programmers and doctors.

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Planet Money
3:34 am
Thu February 7, 2013

'Give Me The Money Or I'll Shoot The Trees'

Pay up, or the bird gets it. (A hoatzin perches on a branch in Yasuni National Park.)
Pablo Cozzaglio AFP/Getty Images

Originally published on Thu February 7, 2013 3:07 pm

Ecuador's Yasuni National Park is one of the most diverse ecosystems on Earth. But there's a complication: The park sits on top of the equivalent of millions of barrels of oil.

This creates a dilemma.

Ecuador prides itself on being pro-environment. Its constitution gives nature special rights. But Ecuador is a relatively poor country that could desperately use the money from the oil.

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Planet Money
3:38 am
Fri February 1, 2013

An International Battle Over One Of The Most Boring Things In Finance

Jeremy O'Donnell Getty Images

Originally published on Tue February 12, 2013 11:26 am

This week saw the end of a years-long, international, multi-billion-dollar battle over one of the most boring things in finance: savings accounts.

At the center of the battle was Iceland, a tiny country where the banks grew into international behemoths during the credit bubble.

The banks got so big partly by convincing foreigners to open up online savings accounts. In particular, lots of people in England and Netherlands opened up "ICESAVE accounts" with a bank called Landsbanki. During the financial crisis, the bank collapsed.

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