How long were there ever monetary regimes where there was very low interest rates, or no interest rates? I don't know a lot about that. Some societies had like, rules where you could charge ten % interest for seven years,. which means your paying back twice what you borrowed, essentially, and that was it. Other societies had jubilees periodically, were all that would be cancelled because a lot of these traditional societies understood that expediential growth can't continue. Now it's kind of built in. It's acted. Although for many years, i actually never taught my students about inflation, because we went about 20 years without really much worry about it.
Show Summary:
On this episode we meet with ecological economist and Professor in Community Development & Applied Economics and Public Administration, Josh Farley.
Money. What is it? Where does it come from? How is it created? How is it tethered to our biophysical balance sheet? What is on the horizon with our monetary system? How might we create and use money differently in the future during a source and sink contained system? Josh Farley explains it all - and explains how the links between money, energy, and the economy will become more central in our lives.
Click here to listen to Josh and Nate’s first conversation.
About Josh Farley:
Joshua Farley is an ecological economist and Professor in Community Development & Applied Economics and Public Administration at the University of Vermont. He is the President of the International Society for Ecological Economics.
For Show Notes and Transcript visit: https://www.thegreatsimplification.com/episode/29-josh-farley