Daily: The Million Dollar Question - How Does Money Work?

Money makes the world go round, but how does it actually work? With economies across the globe in flux, understanding cash, currencies and crypto has never been more important. Gavin Jackson, lead writer for the Financial Times, joins Ahir Shah to talk about his new book Money in One Lesson: How it Works and Why, which covers the most important questions about money and how it shapes our societies.

• “Money is something we all believe in, but we’re not entirely sure why.”
• “We didn’t start with barter, the first money was actually made out of clay tablets.”
• “Hyperinflation only happens when a government decides something is more important than stopping hyperinflation.”
• “Bitcoin is an attempt to opt-out of the banking system we’ve become used to.”
• “Deflation, when prices fall, is actually a lot worse than inflation as our debts don’t change.”
• “If you’re interested in people, you should be interested in money. It tells us so much about who we are.”

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Presented by Ahir Shah. Group Editor: Andrew Harrison. Lead Producer: Jacob Jarvis. Producers: Jacob Archbold, Jelena Sofronijevic and Alex Rees. Audio production by Jade Bailey. THE BUNKER is a Podmasters Production

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