Richard Sylla

In this discussion, Richard Sylla, Professor Emeritus of Economics and former President of the Economic History Association, delves into the evolution of financial systems in the U.S. Following independence, he explains the formation of a currency union and the essential elements for a successful financial revolution. Sylla highlights the influence of early banking practices and the monumental challenges faced during the Revolutionary War. He also connects modern financial systems to economic growth, drawing parallels with historical examples and emphasizing governance's pivotal role.

Richard Sylla, a Professor emeritus of economics and co-author of A History of Interest Rates, delves into America’s staggering $37 trillion debt and the implications of rising interest rates. He discusses the challenges of reforming national spending amidst political gridlock, while also exploring the U.S.’s strengths in the global market and concerns over its reserve currency status. Sylla offers insights on navigating bond investments in a changing economy, emphasizing strategies suitable for today’s fiscal landscape.

NYU Stern finance professor Richard Sylla, co-author of A History of U.S. Interest Rates, discusses 6,000 years of interest rate history. Topics include Hammurabi's debt relationship, Roman collateral, medieval French credit, today's negative rates in Europe, and the cyclical nature of interest rates.