Why are veterinarian bills getting so ruff on the wallet?

This podcast episode from "The Indicator from Planet Money" discusses the Economics Nobel Prize awarded to Joel Mokyr, Philippe Aillon, and Peter Howart for their work on growth and innovation, focusing specifically on Mokyr's economic history of the European Enlightenment. The hosts, Darian Woods and Greg Wrozowski, explain Mokyr's theory that sustained economic growth began when "prescriptive knowledge" (practical know-how) and "propositional knowledge" (scientific theory) merged during the scientific revolution, exemplified by figures like Francis Bacon. They also highlight Mokyr's emphasis on the importance of societal openness to change for technological progress, noting that institutions are not guaranteed to become more open over time. The episode concludes with Mokyr's perspective on the fragility of technological progress and its dual nature, capable of both construction and destruction, while stressing the necessity of innovation to address global challenges like climate and demographic change.