Economist Podcasts

Debasement all around: lessons from 16th-century inflation

7 snips
Dec 28, 2022
Callum Williams, a senior economics writer, dives into the historical context of inflation, particularly the tumultuous 16th century under Henry VIII, highlighting societal unrest and its modern echoes. Charlie McCann, covering Southeast Asia, shares insights on the Baduy people who struggle to maintain their traditional lifestyle amid encroaching modernity. The conversation also touches on how media shapes dog breed popularity, revealing surprising cultural trends linked to canine adoptions across different countries.
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INSIGHT

Inflation's Recurrence

  • Soaring inflation after periods of price stability is a recurring historical phenomenon.
  • Studying these instances offers valuable lessons for understanding current economic challenges.
INSIGHT

Unexpected Surge

  • The 16th-century inflation surge was unexpected because prices had been stable for generations.
  • This stability made the subsequent sustained inflation even more shocking.
ANECDOTE

16th-Century Inflation Debate

  • In 16th-century France, Jean Bodin and Jean Charier debated inflation's causes.
  • Like modern economists, they argued over demand-side versus supply-side factors.
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