David McWilliams on The Story of Money—and Why It Matters for Markets | #610
The Meb Faber Show - Better Investing
Gutenberg's Hustle and the Church Market
David recounts Gutenberg's background, his incentive to print indulgences, and the church's demand for cheaper letters.
Today’s guest is David McWilliams, an economist, podcast host and author. David worked at the Central Bank of Ireland, UBS and BNP Paribas and is the founder of the Kilkenomics Festival, a unique blend of economics and stand-up comedy. His book is called The History of Money: A Story of Humanity, which is my favorite book from 2025.
In today’s episode, David walks through the evolution of money over the last 5,000 years. He explains why money is a foundational social technology that is central to every aspect of our civilization, from the political to the artistic. He delves into historical anecdotes—from clay tablets in Mesopotamia to Gutenberg’s printing press to Martin Luther’s disruptive influence on the church. Throughout the episode, he emphasizes that economists need to do a better job helping people understand money and its role in navigating modern economic principles.
(0:00) Starts
(1:26) David explains the Kilkenomics Festival
(3:41) David McWilliams on "Money, The History of Money, A Story of Humanity"
(9:55) Evolution and trust in money throughout history
(26:28) Impact of the Gutenberg printing press and Martin Luther
(36:42) Historical perspectives on speculation and losing money
(43:18) Future of economics, storytelling, and equity culture differences
(49:18) Educating youth on finance and investing
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Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.
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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
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