Asking for money is awkward. Like super awkward. But today is Giving Tuesday, an international day of generosity, so here we are, asking for your support.
You see, we in public media depend on charitable contributions from our audience. This is especially the case now. As you probably know, public media lost federal funding this year, and that has opened up a can of worms for NPR’s business model.
That can of worms can more precisely be called the free-rider problem. The free-rider problem is a core concept from economics. It describes a predicament that arises when people can consume a good or service without having to pay for it.
NPR
Why people would fork over money for something when it’s free has long puzzled economists. Old-school economic theory assumed people were selfish and hyperrational. If you believe that’s true, then giving doesn’t make a whole lot of sense. The theory predicts that the free-rider problem — which arises when the provision of a good or service depends on voluntary contributions — will lead to free goods or services being underprovided or maybe even being destroyed.
No, don’t let the free-rider problem destroy us! Help us!
Whoa, sorry. That was a little alarmist. Maybe a little too desperate…
Anyways, we love providing our stuff for free. It’s the whole spirit of public media. And, now that we’re operating without federal support, we depend on charitable donations more than we used to. The free-rider problem looms larger.
Here’s the good news we’re telling ourselves right now: people do voluntarily give. And modern economic research, which rejects old-school models of human behavior, tells us why. For example, according to studies by the University of Chicago economist John List, a lot of people give because it makes them feel good. List refers to it as “warm-glow altruism.”
So why should you support public media? Because the detailed reporting and thought-provoking analysis that you love from the team here at Planet Money depends on it. In a rapidly changing world, we’re doing our best to keep you informed about the economy and society. Heck, we even try to entertain you while we do all that. So make a donation today and help power everything you get from us and so much more.
So give. Please. If not for us, maybe for that warm glow. You can donate here.
P.S. If you want a little more than just warm fuzzy feelings for supporting public radio, you can also sign up for NPR+! When you join NPR+, you’ll get access to all sorts of perks across more than 25 of NPR’s podcasts. From just Planet Money, you get bonus episodes, curated playlists, shop discounts, and behind-the-scenes looks at projects we’re working on -- including a chance to watch and give feedback on a new video pilot from The Indicator. If you’re already an NPR+ supporter, keep an eye on the Planet Money feed this Friday for details on this sneak peek. If not, now is the time to sign up! Check it out NPR+ here.
Subscribe to Planet Money+ for bonus episodes with behind the scenes takes, extended interviews, and extra facts we couldn’t fit into the main show. Plus, it’s ad free. You’ll get The Indicator and Planet Money Summer School too - all while supporting our nerdy, ambitious journalism. Learn more at Plus.npr.org/PlanetMoney and start with a free 30-day trial by using the code "freemonth".
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