Armchair Expert with Dax Shepard David McWilliams (on the history of money)
68 snips
Jan 14, 2026 
David McWilliams, a journalist and economist known for his accessible insights, shares his fascinating view on the history and role of money. He discusses how his upbringing influenced his understanding of economics and critiques the idea that anyone truly controls the economy. David compares money to fire as a transformative technology, explaining its alternatives to violence and its function in fostering trust and specialization in complex societies. He also explores the historical dynamics of credit and its significant implications on civilizations.
AI Snips
Chapters
Books
Transcript
Episode notes
Credit Lets Societies Travel In Time
- Credit lets societies 'travel in time' by spending tomorrow's profits today through loans and mortgages.
- Interest rates price risk for that time-travel and shape expectations about the future.
Rome: An Empire Built On Credit
- McWilliams describes Rome as a credit empire that taxed even urine and ran speculative cycles like modern economies.
- He links Roman monetary breakdowns and speculation to the empire's eventual collapse.
Money's Absence Driven The Dark Ages
- When coinage disappeared in Western Europe, culture, innovation, and mobility declined under feudal constraints.
- McWilliams argues money's absence gummed up urban life and hereditary immobility returned.
