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Planet Money
Planet Money

Baby's first market failure

Feb 3, 2023 · 23m
AI Summary
  • Day care market suffers from information asymmetry and price controls: parents can't access costs upfront and long waitlists indicate prices are too low
  • Paradox of affordability: 60% of families can't afford quality day care while owners struggle to stay operational
  • Explores structural problems causing simultaneous burden on parent budgets and worker underpayment in the day care industry

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