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History 7: The Great Depression, the New Deal and how it changed our economy

Planet Money Summer School

CHAPTER

Understanding Fiat Currency and Keynesian Economics

This chapter explores the nature of fiat currency and its dependence on public trust in government, rather than physical assets. It also introduces Keynesian economics, highlighting the importance of government intervention to stabilize the economy, while teasing an upcoming episode that will creatively summarize 50 years of economic thought.

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