35 | Trust
Trust is the willingness to make oneself vulnerable to another person. Economic interactions, especially market interactions, tend to be based on various forms of mutual trust.
Trust cannot be underrated as an important source of growth and economic development. Here is a look at what we know. Lesson: culture really matters!
Trust cannot be underrated as an important source of growth and economic development. Here is a look at what we know. Lesson: culture really matters!
In the early seventies, Chile, under Marxist President Salvador Allende, was plagued by inflation, shortages, and a crushing deficit. After a violent coup in 1973, the economy became the military's problem.
The power of institutions illustrated. But what causes institutions? Can we change institutions?
This episode of Planet Money explores the self-inflicted implosion of Venezuela's economy.
In 1978, a group of farmers in a Chinese village called Xiaogang wrote a secret contract and hid it in the roof of a mud hut.
A 70-year-old man with a bad cold and many mistresses, a nation that's ambivalent about a central bank, and a secret meeting on an island. Today on the show: The origin story of the Federal Reserve.
Chile is one of the wealthiest, most stable economies in South America. But to understand how Chile got here--how it became the envy of neighboring countries --you have to know the story of a group of Chilean students who came to study economics at the University of Chicago. A group that came to be known as the Chicago Boys.