TED Radio Hour

Listen Again: A Century Of Money

Apr 16, 2021
In this insightful discussion, journalist Kathleen Day, who studies financial crises, joins financial advisor Tammy Lally, who shares her journey through financial hardship. Writer Elizabeth White sheds light on the economic struggles faced by older adults, while filmmaker Abigail Disney critiques corporate practices and highlights economic inequality. They explore the emotional toll of financial struggles, the historical cycles of optimism, and the pressing need for corporate responsibility, advocating for a more dignified financial future for all.
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ANECDOTE

Roaring 20s Excess

  • The 1920s, post-war and pandemic, saw a cultural shift towards consumerism.
  • Americans, flush with war bond repayments, embraced credit and spending.
INSIGHT

1929 Crash

  • The 1929 stock market crash stemmed from excessive borrowing and risky investments.
  • The Federal Reserve, fearing a bubble burst, inaction worsened the situation.
INSIGHT

FDR's Impact

  • FDR's response to the Depression included a bank holiday and deposit insurance.
  • Deposit insurance restored confidence and ended bank runs, stabilizing the economy.
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