New Books in Economics Richard Duncan, "The Money Revolution: How to Finance the Next American Century" (John Wiley & Sons, 2022)
Oct 6, 2025
Richard Duncan, an economist and author with a robust background in investment strategy and global finance, presents his vision for America's economic future. He discusses the importance of massive government investment in technology to foster a new revolution that enhances U.S. wealth and geopolitical standing. Duncan also explores the creation and role of the Federal Reserve, the factors behind the 2021 inflation surge, and offers insights on the dollar standard's resilience amid trade deficits. His pragmatic approach to economic policy challenges conventional dogma.
AI Snips
Chapters
Books
Transcript
Episode notes
Education In Asian Booms And Crises
- Richard Duncan describes his path from Kentucky to decades working in Asia and at the World Bank and ABN AMRO.
- He uses his firsthand experience in Thailand's 1990s boom-and-bust to explain how he learned about financial bubbles.
Fed's Origin And Unintended Consequences
- The Fed was created after the 1907 panic to act as lender of last resort and prevent banking panics from spreading.
- World War I and later policy choices expanded credit massively, fueling the Roaring Twenties then contributing to the 1930s collapse.
Why Massive QE Became The Default
- Post-2008 and COVID, the Fed combined massive QE with fiscal deficits to avoid a repeat of the 1930s depression.
- Those interventions worked but produced a much larger Fed balance sheet and higher government debt, with inflationary side effects.
