Library of Mistakes
EP 21: War and Gold (with Kwasi Kwarteng)
Dec 1, 2023
Financial historian Kwasi Kwarteng discusses the significance of fiscal policy in times of war, the revolution of Dutch finance, the role of money, debt, and protectionism, the creation of the Euro, wartime economics and the use of paper currency, and the impact of government bonds and the power of the bond market.
39:49
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Quick takeaways
- Government spending and taxation are central to citizen's lives and play a key role in political debates regarding public spending.
- Debt has historically driven economies and shaped the development of stock markets, with the influx of gold and silver from the New World playing a crucial role.
Deep dives
The Role of Fiscal Policy in shaping economies
The podcast explores the importance of fiscal policy in relation to monetary policy and its role in shaping the context for monetary decisions. It highlights how government spending and taxation are central to the lives of citizens and play a key role in political debates, particularly regarding public spending.
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