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.

Pages

Planet Money
4:04 am
Thu November 15, 2012

Why Coke Cost A Nickel For 70 Years

An oilcloth sign advertising Coca-Cola from 1905.
The Coca-Cola Company

Originally published on Mon November 19, 2012 2:04 pm

Prices change; that's fundamental to how economies work.

And yet: In 1886, a bottle of Coke cost a nickel. It was also a nickel in 1900, 1915 and 1930. In fact, 70 years after the first Coke was sold, you could still buy a bottle for a nickel.

Three wars, the Great Depression, hundreds of competitors — none of it made any difference for the price of Coke. Why not?

Read more
Planet Money
4:16 pm
Tue November 6, 2012

A Hidden Safety Net, Made Visible By The Storm

Shopping carts full of food damaged by Sandy await disposal at Fairway.
Seth Wenig AP

Originally published on Thu November 8, 2012 4:54 pm

The Fairway supermarket in Red Hook, Brooklyn is the sort of place New Yorkers, accustomed to cramped spaces, talk about with amazement. It's an actual, full-size supermarket, right at the edge of New York Harbor.

It's a beautiful setting, but one that was diastrous last week, when Sandy came through.

"There were five feet of water throughout the store," Bill Sanford, the president of the company told me. "Everything was submerged."

They had to throw out dumpsters worth of food. Chicken, fish, vegetables.

Read more
Planet Money
4:19 am
Fri October 26, 2012

Energy Independence Wouldn't Make Gasoline Any Cheaper

Friedemann Vogel Getty Images

Originally published on Fri October 26, 2012 4:05 pm

Just about every president since Richard Nixon has set energy independence as a goal, and both major candidates have brought it up the current campaign.

As it turns out, there is a place, not so far from here, that has achieved energy independence: Canada.

Canada produces far more oil than it consumes. They're not dependent on the Middle East! They've got all the oil they need!

I called Stephen Gordon, a professor of economics at Université Laval in Quebec City, to ask him about what energy independence means for his nation.

Read more
Planet Money
3:19 pm
Thu October 4, 2012

The Accountant Who Changed The World

Summa de Arithmetica, Geometria, Proportioni et Proportionalita." href="/post/accountant-who-changed-world" class="noexit lightbox">
A page from Pacioli's math encyclopedia, Summa de Arithmetica, Geometria, Proportioni et Proportionalita.
via Jane Gleeson-White

Originally published on Fri October 5, 2012 4:04 pm

The story of the birth of accounting begins with numbers. In the 1400s, much of Europe was still using Roman numerals, and finding it really hard to easily add or subtract. (Try adding MCVI to XCIV.)

But fortunately, Arabic numerals (1, 2, 3, 4, etc.) started catching on, and with those numbers, merchants in Venice developed a revolutionary system we now call "double-entry" bookkeeping. This is how it works:

Read more
Planet Money
3:25 am
Fri September 28, 2012

He Won't Tell You His Name, But He'll Help You Hide Your Money

Meet Adam Wolf*, your asset protection adviser. (*Not his real name.)
via Global Wealth Protection

Originally published on Sat September 29, 2012 7:11 pm

We set up our shell companies. Then we wondered: What do people actually do with shell companies?

One popular use, it turns out, is what professionals call "asset protection." Ordinary people call this "hiding money."

Maybe you're a surgeon worried a patient might sue you and take everything you have. Or you want to hide money from your ex (or your soon-to-be ex).

Read more
Planet Money
3:32 am
Thu September 20, 2012

Insurance Companies Send Out Rebate Checks; Economists Get Nervous

iStockphoto.com

Originally published on Thu September 20, 2012 5:41 pm

Nearly 13 million Americans have gotten, or will soon be getting, rebates from their health insurance companies. This is because of a provision in the Affordable Care Act (aka Obamacare) that's supposed to force insurance companies to run better.

But while the idea of getting a check from your health insurance company may sound great, some economists worry this rule could actually make health insurance more expensive.

Read more
Planet Money
2:50 pm
Fri September 14, 2012

Even If You're All-Powerful, It's Hard To Fix The Economy

This guy lives in a computer. Can you get him a job?
Walt Disney Pictures The Kobal Collection

Originally published on Tue September 18, 2012 2:43 pm

The world inside Mark Zandi's computer model feels pretty familiar. It's full of people who are worried about the economy. Their homes are being foreclosed on. They're paying more for gas. Something like 13 million of them can't find jobs.

Read more
Planet Money
3:42 pm
Mon August 27, 2012

A Father Of High-Speed Trading Thinks We Should Slow Down

Thomas Peterffy, shown here in 2010
Brendan Smialowski Getty Images

Originally published on Tue August 28, 2012 3:54 pm

First, three stories from Thomas Peterffy's life as a trader:

Story #1:

When Peterffy was a kid growing up in communist Hungary in the 1950s his buddy went to Austria and brought back a pack of Juicy Fruit gum. Peterffy bought the pack, broke the sticks of gum up into little pieces, and sold them at a profit. The principal at his school was not amused. "Where's your communist conscience?" the principal asked.

Not surprisingly, given story #1, Peterffy moved to the U.S. as a young man.

Story #2:

Read more
Planet Money
4:24 pm
Fri July 27, 2012

Losing With LIBOR: One Trader's Story

London-based Barclays Bank agreed to pay a $453 million fine over charges it manipulated the London Interbank Offered Rate — LIBOR — a key global interest rate.
Oli Scarff Getty Images

Originally published on Fri July 27, 2012 6:02 pm

We've been talking a lot lately about what's been dubbed the "LIBOR rate fixing scandal," where some of the biggest banks in the world have been accused of manipulating a key global interest rate.

Read more
Planet Money
3:06 am
Thu July 5, 2012

The Farmer And The Commerce Clause

The U.S. Supreme Court, 70 years after rejecting Roscoe Filburn's bid to limit the federal government's power to regulate commerce.
Chip Somodevilla Getty Images

Originally published on Thu July 5, 2012 10:25 pm

Last week's Supreme Court ruling on the health care law might have made Roscoe Filburn a little happier.

Filburn was an Ohio dairy farmer who had a beef with the federal government, one he took to the U.S. Supreme Court in 1942. He lost.

Read more

Pages