The Cost of Energy

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I wrote my PhD on that topic, you know, 15 years ago. It's so interesting to unpack this in real time with you because we don't know each other. I think it is a fantastic concept conceptually that we can create money, but we can't create energy and the energy has a cost in biophysical terms not in dollar terms. To try and make decisions on it and use it as a fine laser digit that a 10 to one year lie is better than an eight-to-one lies is fraught with peril.

On this episode, financial historian Edward Chancellor joins Nate to give a meta-history of interest rates and human societies. With recent news of global financial turmoil in response to rising interest rates, taking a look at our history could help us interpret our present and plan for the future. How deeply entangled is this financial predicament that we’ve gotten ourselves into? Can we learn from the past to reshape a more stable monetary policy in the future, or are inflating financial bubbles (and popping them) simply in our human nature?

About Edward Chancellor:

Edward Chancellor is a financial historian, journalist, and investment strategist. He is the author of Devil Take Hindmost: A History of Financial Speculation and his latest book, The Price of Time, where he explains the story of capitalism is really the story of interest: the price that individuals, companies and nations pay to borrow money. He is currently a columnist for Reuters Breakingviews and a contributor to the Wall Street Journal, MoneyWeek, the New York Review of Books and Financial Times.

For Show Notes and More visit: https://www.thegreatsimplification.com/episode/67-edward-chancellor

To watch this video episode on Youtube → https://youtu.be/q5PWaYw6h5k