Inside a BOOK auction
3/21/202643 min
In the age of TikTok and Polymarket, it can be easy to overlook the humble book. But books are one of the most influential technologies ever invented. From “The Wealth of Nations” to “Das Kapital,” books have the power to shape whole economic systems… and everything else in our world. The market for books can determine which ideas make it to the masses.
So when Planet Money was approached to make its own book, not only did it present an opportunity to spread the gospel of whimsical economic infotainment to new audiences everywhere, but it also presented an opportunity to get a rare peek behind the curtain of the notoriously opaque world of publishing.
On today’s episode, the first chapter in our series on the making of a book: Planet Money sets out to land a book deal. We enter the high stakes, high school drama of the publishing industry, where literary agents try to woo powerful book editors. And we learn what happens when lofty artistic ideals meet the cold logic of the market. It’s a courtship dance with millions of dollars potentially on the line. There will be whale fights, corporate speed dating, and a literary shotgun wedding.
Live event info and tickets here.
Pre-order the Planet Money book and get a free gift. / Subscribe to Planet Money+
Listen free: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.
Facebook / Instagram / TikTok / Our weekly Newsletter.
This episode was produced by Willa Rubin with production help from Sam Yellowhorse Kesler. It was edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Robert Rodriguez. Alex Goldmark is our executive producer.
Music: NPR Source Audio - “Run Baby Run,” “Lay It Down,” and “Lazy Ringer.”
To manage podcast ad preferences, review the links below:
See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.
Learn more about sponsor message choices: podcastchoices.com/adchoices
Clips
Transcript preview
First 90 secondsSpeaker 00:00
This message comes from Greenlight. Ready to start talking to your kids about financial literacy? Meet Greenlight, the debit card and money app that teaches kids and teens how to earn, save, spend wisely, and invest. Start your risk-free trial at greenlight.com/npr.
Alexi Horowitz-Ghazi· Host0:15
This is Planet Money from NPR. For a long time, whenever I entered the cozy refuge of an independent bookstore, I couldn't help but suspect that there was this whole hidden world, this whole economy lurking behind the bookshelves. And I know in the era of TikTok and Polymarket and video podcasting, it can be easy to overlook the humble book. But it is undeniable, books are one of the most influential technologies ever. From The Wealth of Nations and Das Kapital to The Art of the Deal or Dreams From My Father, books can make us all lean in one day, or suddenly everyone you know is finding life-changing magic in tidying up. Even if you haven't picked up a book in years, the forces that shape the marketplace for books have the power to shape everything else in your life. They shape the ideas that make it to the masses. So last year, when my boss informed the team in an editorial meeting that the Planet Money book, which had been in the works for a while, was now hurtling toward publication, I found myself leaning in. The question on my boss's mind was this: Would anyone on the team