The history of the modern monetary economy
In this podcast episode, we look at the development of our modern monetary system and clarify the most important questions about money, gold backing, interest rates, banks and central banks.
The 4th episode of HSG Research Insight focusses on the development and functioning of our modern monetary system. The two guests Prof Dr Johannes Binswanger and Dr Carolin Güssow describe in their book ‘Journey into the modern monetary economy’ how we ended up where we are today using an ideal-typical, fictitious village called Econville.
Why was money introduced in the first place? How has it evolved over time? Is interest necessary? Why were banks and eventually central banks invented and what influence do they have on economic development? In this episode, we want to clarify the central questions about our monetary system based on the history of Econville.
