Episode 505: A Locked Door, A Secret Meeting And The Birth Of The Fed
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.
For much of the 70s inflation was bad. Prices rose at over 10 percent a year. Nothing could stop it — until one powerful person did something very unpopular. Today's show: How we beat inflation.
Episode 505: A Locked Door, A Secret Meeting And The Birth Of The Fed
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.
Fractional reserve banking is a banking system in which only a fraction of bank deposits are backed by actual cash on hand and are available for withdrawal.
Prof. Steve Horwitz addresses the common belief that the world is running out of natural resources. Instead, there are economic reasons why we will never run out of many resources
Episode 906: The Chicago Boys, Part II - Planet Money
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.
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.
