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The Price Tag Hasn't Always Existed, It Had To Be Invented

Most people are used to prices that don't change. You go into a store to buy some Quaker Oats, and they're going to cost the same for you as they will for whoever tries to buy them next.

But for a long time, that's not how it worked at all.

For most of human history, you had to haggle over prices before you could buy something. The Quakers were among the first people to commit to fixed prices — and they did it because it was good morals. Turned out, it was also good business. This is the strange story of the long journey of that little piece of paper.

Listen to the original Planet Money podcast episode here! Subscribe to our video series here — and, while you're at it, subscribe to our podcast.

Copyright 2021 NPR. To see more, visit https://www.npr.org.

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Bronson Arcuri is a Senior Producer on NPR’s visuals team. In that role, he focuses on developing new video formats and producing original documentary projects for the network's digital platforms and news programs.