AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
5min chapter
SUMMER SCHOOL 4: Inflation & Drinking Buddies
Planet Money
The Real Currency
Four economists created a new currency that was stable, dependable and trustworthy. They called it a virtual currency - the unit of real value didn't exist. People would still use cruseros, the local currency, but everything would be listed in u r vs. The amount of cruseros what you actually handed to the clerk would change, but the price in u rvs would not. One store would be selling milk for one ur v, and eventually all the stores would too. And then when we are satisfied that prices were relative in good synchrony, we declare, well, from this day, the virtua currency becomes a real currency.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode