Podcast appearances and mentions of Barry Eichengreen

NATO leaders are gathering in the Netherlands for their annual summit at the same time a fragile ceasefire in the Israel-Iran war appears to be holding. Can diplomacy succeed if the ceasefire survives? Among the leaders urging that path is Canada's Prime Minister Mark Carney. Christiane sat down with the Prime Minister in the Netherlands today.  Also on today's show: EU Foreign Policy Chief Kaja Kallas; Barry Eichengreen, Professor of Economics and Politics, U.C. Berkeley  Learn more about your ad choices. Visit podcastchoices.com/adchoices

Barry Eichengreen joins Alan Dunne for a clear-eyed look at a system losing its anchors. The dollar's standing, long insulated by trust and habit, now faces a different kind of test... one shaped less by challengers abroad than by fractures at home. They explore how rising debt, political entropy, and institutional strain are converging in ways that markets are only beginning to price. From the quiet retreat of safe haven flows to the uneasy future of central bank independence, this is a conversation about slow shifts with fast consequences, and what happens when credibility, not currency, becomes the liability.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Follow Barry on Twitter.Episode TimeStamps: 00:09 - Introduction to Barry Eichengreen03:51 - The Future of the Dollar: Concerns and Predictions14:29 - Fiscal Challenges and Policy Responses33:04 - Analyzing Economic Policies and Their Impacts49:18 - Global Economic Perspectives: Trade Wars and Currency Alternatives56:46 - The Future of Global Currency SystemsCopyright © 2024 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3...

Did you know that all of the growth in federal spending as a percentage of the national income is due to the growth of "uncontrollables"? In this interview, we discuss the following: ►What are "uncontrollables"? Why are they 'mandatory'? ►What are entitlements? How are they treated differently than discretionary budget spending? ►What was the Budget Resolution Process that was introduced in the 1970s? ►How did Pres. Cleveland, Roosevelt (FDR), Reagan and Clinton control government budget? ►Which president reduced our entitlement programs the most? ►What was FDR's biggest mistake, the consequences of which still impacts us? ►What are the 3 requirements for reducing the budget deficit? ►How would my guest advise a U.S. president in reducing our budget deficit?

Barry Eichengreen, professor of economics at the University of California, Berkeley, talks about why the gyrations in the value of the US dollar matter. Courtney Rawlings and Alex Jordan, hosts of Always at War, a new show from the Quincy Institute, explain why the US is always buying more weapons and bombing people. Behind the News, hosted by Doug Henwood, covers the worlds of economics and politics and their complex interactions, from the local to the global. Find the archive online: https://www.leftbusinessobserver.com/radio.html

Behind the News, 5/15/25 - guests: Barry Eichengreen on the dollar • Courtney Rawlings and Alex Jordan on why the US is always at war - Doug Henwood

Fundraising special: Barry Eichengreen on why the gyrations in the value of the US dollar matter • Courtney Rawlings and Alex Jordan, hosts of Always at War, on why the US is always buying more weapons and bombing people The post Fundraising special: wobbly dollar, perpetual wars appeared first on KPFA.

Trump's MAGA Economy Driven by Greed, Stupidity and Cowardice | Will Trump's Weakening of the Dollar Lead to a New Global Reserve Currency? | The Hollow Nature of Trump's Promise of Gain After the Pain backgroundbriefing.org/donate twitter.com/ianmastersmedia bsky.app/profile/ianmastersmedia.bsky.social facebook.com/ianmastersmedia

As conversation swirls around how the U.S. is going to pay back its $30 trillion debt, old concerns about public debt have been raised once again.Barry Eichengreen is a professor of economics at UC Berkeley and one of the leading experts on international currency markets and their history. His books include Globalizing Capital: A History of the International Monetary System, The Populist Temptation: Economic Grievance and Political Reaction in the Modern Era, and most recently, In Defense of Public Debt. Barry and Greg delve into the pros and cons of public debt, the mechanisms ensuring sovereign debt repayment, and the potential risks of inflation, and put modern debt levels into perspective by looking back at other major financial events in history. They also discuss the impact of political polarization on long-term financial decisions.**This episode was recorded in 2021.** *unSILOed Podcast is produced by University FM.*Show Links:Recommended Resources:Napoleonic WarsCorporation of Foreign BondholdersForeign Bondholders Protective CouncilMario DraghiRicardian Equivalence Anne Osborn KruegerArgentine Debt CrisisGuest Profile:Faculty Profile at UC BerkeleyProfessional Profile on XHis Work:In Defense of Public DebtThe Populist Temptation: Economic Grievance and Political Reaction in the Modern EraGlobalizing Capital: A History of the International Monetary SystemHall of Mirrors: The Great Depression, the Great Recession, and the Uses-and Misuses-of History Exorbitant Privilege: The Rise and Fall of the Dollar and the Future of the International Monetary SystemGolden Fetters: The Gold Standard and the Great Depression, 1919-1939Episode Quotes:The political capacity to issue public debt goes hand in hand with financial development31:25: If you go back and look at the history, you see the value to financial markets of sovereign debt—that as sovereigns' and states' debts begin to be recognized as safe and liquid with political checks and balances, they become safe. With the development of markets in them, they become more liquid. They're then used as collateral for other borrowing and lending, and you accelerate the development of private financial markets. So, I think the political capacity to issue public debt goes hand in hand with financial development, and financial development, historically, is an important component of economic development.Public debt as a lifeline in times of crisis02:58: Public debt has been critically important in history. To enable states to meet emergencies—so, if you look at the history, it has been issued typically in wartime to defend the realm. Admittedly, states and rulers have issued it to fight offensive as well as defensive wars, but also to meet threats, pandemics, natural disasters, and other national emergencies.Why public debt levels depend on politics and time34:50: I don't think economic science is advanced to the point where we can identify an optimal or uniquely sustainable level of public debt. I think politics impinges on this as well. So, if you ask a German politician and an American politician what an appropriate or optimal level of public debt is, they'll give you very different answers. Economic circumstances change over time as well. So, public U.S. public debt in the hands of the public has basically tripled since the turn of the century. Debt service—interest paid on that debt as a share of GDP—hasn't budged. Interest rates have come down, and they've been trending downward for the better part of 30 or 40 years. That has made it easier to sustain a heavier level of public debt.

From Colombia to Vietnam and beyond the US dollar is the currency in which much of international business is conducted and which many people outside the US use as a means of exchange and a store of value. So how did a country with just over 4 percent of the world's population come to dominate global banking and trade? When the position of the US dollar as the linchpin of global commerce was confirmed at the end of the Second World War, not everyone was happy with this state of affairs: the French soon spoke of the Americans having an ‘exorbitant privilege'. Did they have a point? And what of the more recent efforts to replace the Greenback with other currencies? Iszi Lawrence follows the history of the US dollar from its origins to today with H W Brands Jr., Professor of history at the University of Texas at Austin; Barry Eichengreen, Professor of economics and political science at the University of California, Berkeley; Carola Frydman, Professor of finance at the Kellogg School of Management, Northwestern University in Evanston; Perry Mehrling, Professor of international political economy at the Pardee School of Global Studies, Boston University and World Service listeners.[Photo: A roll of US dollar notes. Credit: Getty Images]

Barry Eichengreen, Professor of Economics and Political Science at the University of California, Berkeley, is a former senior policy adviser at the International Monetary Fund. He is the author of many books, including ‘In Defense of Public Debt' (Oxford University Press, 2021). In this podcast, we discuss the inflation regime, which central banks are most independent, whether Trump can influence the Fed, and much more.    Follow us here for more amazing insights: https://macrohive.com/home-prime/ https://twitter.com/Macro_Hive https://www.linkedin.com/company/macro-hive

►My guest claims that Mr. Musk's compensation is $0! How is this possible? ►What are the different components of a CEO's pay package? ►Why have CEO salaries stayed constant for decades? ►Why did CEO stock options significantly increase in the 1990s? ►Why did CEO pay for performance dramatically increase after 2006? ►Who determines CEO pay? And how? The answer and the story behind it are more complex than you might think. ►Who is driving the push to regulate CEO pay? Politicians or shareholders? My guest is intimately familiar with Mr. Musk's pay package. Not only is he an expert on executive compensation, but he also testified in Mr. Musk's Delaware trial on behalf of Telsa.

In this episode, show host Gene Tunny explores the influential theories of economists Alvin Hansen, the “American Keynes", and Evsey Domar. The episode was inspired by a first edition copy of Hansen and Perloff's 1944 book “State and Local Finance in the National Economy” that Gene was gifted. It includes a handwritten inscription from Hansen to Domar, his student at Harvard. Key topics include the Keynesian IS-LM model, the secular stagnation hypothesis, and the Harrod-Domar growth model. The episode provides a rich historical context and examines the relevance of these theories to today's economic challenges.If you have any questions, comments, or suggestions, please email us at contact@economicsexplored.com  or send a voice message via https://www.speakpipe.com/economicsexplored. What's covered in EP245Book by Alvin Hansen and Harvey Perloff on State and Local Finance in the National Economy. (0:00)Alvin Hansen's contributions to economics, including popularizing Keynes's theory and teaching influential students such as Paul Samuelson and Evsey Domar. (5:06)IS-LM model. (11:13)Keynesian economics and secular stagnation hypothesis. (17:42)Fiscal policy and its impact on the economy. (25:28)Domar's life and growth model. (32:29)Harrod-Domar model and its implications for economic policy. (39:00)Economic growth models and their limitations. (45:22)TakeawaysSecular Stagnation Hypothesis: Hansen's theory suggesting that mature economies could face prolonged periods of low growth due to structural factors.IS-LM Model: Developed by Hansen and Hicks, this model became a foundational tool in macroeconomics for analyzing the effects of fiscal and monetary policy.Fiscal Perversity Hypothesis: Hansen and Perloff's analysis showing that state and local fiscal policies can sometimes exacerbate economic downturns.Harrod-Domar Growth Model: An important Keynesian model that emphasizes the relationship between investment and economic growth, though not fully explaining long-term growth.Legacy and Influence: Both Hansen and Domar significantly shaped the development of economic theory and policy, influencing key areas such as social security and public investment strategies.Links relevant to the conversationInscription from Hansen to Domar on Gene's copy of State and Local Finance in the National Economy:https://drive.google.com/file/d/167cJbNhxBJpsKRwSYGHxbjupX1Q3Iacx/view?usp=sharingWilliam Easterly's paper on the Harrod-Domar model:https://papers.ssrn.com/sol3/papers.cfm?abstract_id=11020Fiscal perversity papers:Fabrizio Carmignani's article “Can public expenditure stabilize output? Multipliers andpolicy interdependence in Queensland and Australia”:https://www.sciencedirect.com/science/article/abs/pii/S0313592615300242?via%3DihubTamim Bayoumi and Barry Eichengreen's paper “Restraining Yourself: The Implications of Fiscal Rules for Economic Stabilization”:https://www.elibrary.imf.org/view/journals/024/1995/001/article-A002-en.xmlAn abridged version of Skidelsky's three-volume biography of Keynes:https://www.penguin.com.au/books/john-maynard-keynes-9780143036159Lumo Coffee promotion10% of Lumo Coffee's Seriously Healthy Organic Coffee.Website: https://www.lumocoffee.com/10EXPLOREDPromo code: 10EXPLORED Thanks to Obsidian Productions for mixing the episode and to the show's sponsor, Gene's consultancy business www.adepteconomics.com.au. Full transcripts are available a few days after the episode is first published at www.economicsexplored.com.

Stefan Link, a 2023-24 CASBS fellow, chats with Barry Eichengreen, a 1996-97 CASBS fellow and world renowned for his expertise at the nexus of international economics and economic history. They discuss some of Eichengreen's most prominent works — including "The European Economy Since 1945," which emerged from his CASBS experience, and "Golden Fetters," his most cited book — interrogating their durability and applicability to contemporary industrial, financial, and monetary policy challenges and governance.BARRY EICHENGREEN: UC Berkeley faculty page | Homepage & CV | on Wikipedia | STEFAN LINK: CASBS bio | Dartmouth faculty page | Mentioned in the episode:Eichengreen's talk on "Steering Structural Change" (session 2) at the Peterson Institute for International Economics (16 April 2024)Eichengreen & Temin NBER paper on "The Gold Standard and the Great Depression" (June 1997)Select Eichengreen booksElusive Stability: Essays in the History of International Finance 1919-1939 (Cambridge Univ. Press, 1990)Golden Fetters: The Gold Standard and the Great Depression 1919-1939 (Oxford Univ. Press, 1992)International Monetary Arrangements for the 21st Century (Brookings Institution, 1994)Globalizing Capital: A History of the International Monetary System (Princeton Univ. Press, 1994)European Monetary Unification: Theory, Practice, and Analysis (MIT Press, 1997)Toward a New International Financial Architecture: A Practical Post-Asia Agenda (Peterson Institute for International Economics, 1999)Financial Crises and What to Do About Them (Oxford Univ. Press, 2002)Capital Flows and Crises (MIT Press, 2004)Global Imbalances and the Lessons of Bretton Woods (MIT Press, 2006)The European Economy Since 1945: Coordinated Capitalism and Beyond (Princeton Univ. Press, 2006)Exorbitant Privilege: The Rise and Fall of the Dollar and the Future of the International Monetary System (Oxford Univ. Press, 2012)Hall of Mirrors: The Great Depression, the Great Recession, and the Uses — and Misuses — of History (Oxford Univ. Press, 2015) Stefan Link bookForging Global Fordism: Nazi Germany, Soviet Russia, and the Contest over the Industrial Order  (Princeton Univ. Press, 2020)Winner of the Stuart L. Bernath Book Prize, Society for Historians of American Foreign Relations, as well as the Herbert Baxter Adams Prize, American Historical Association  Center for Advanced Study in the Behavioral Sciences (CASBS) at Stanford UniversityExplore CASBS: website|Twitter|YouTube|LinkedIn|podcast|latest newsletter|signup|outreach​Human CenteredProducer: Mike Gaetani | Engineer & co-producer: Joe Monzel |

Many countries have faced harrowing debt burdens, and reducing the national debt is usually a lasting challenge. But in just five years, the Jamaica reduced its debt-to-GDP ratio by 40 percentage points, something only a handful of other countries have done in that time frame. On this episode of the BPEA podcast, Peter Blair Henry of Stanford and UC Berkeley's Barry Eichengreen join Brookings Senior Fellow Gian Maria Milesi-Ferretti to discuss their new BPEA paper on the unique factors that enabled Jamaica's success. Show notes and transcript The Brookings Podcast on Economic Activity is part of the Brookings Podcast Network. Subscribe and listen on Apple, Spotify, or wherever you listen to podcasts. Send feedback email to podcasts@brookings.edu.

Dr. Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science at University of California, Berkeley, joins Forward Guidance alongside Joseph Wang, CIO of Monetary Macro and writer at FedGuy.com, to discuss his paper at the Federal Reserve's 2023 Jackson Hole symposium, “Living with High Public Debt.” Professor Eichengreen also shares his findings on the U.S. dollar's role as a global reserve currency (“dollar dominance”), financial repression, and central bank digital currencies (CBDCs), and he also shares his views on Modern Monetary Theory (MMT). Filmed on November 28, 2023. Dr. Eichengreen's 2023 Jackson Hole paper, “Living With High Public Debt”: https://www.kansascityfed.org/Jackson%20Hole/documents/9749/Living_With_High_Public_SA_Sep_2_2023.pdf Complete agenda for 2023 Jackson Hole Symposium: https://www.kansascityfed.org/research/jackson-hole-economic-symposium/jackson-hole-economic-policy-symposium-structural-shifts-in-the-global-economy/ More information on Dr. Eichengreen's work: https://eml.berkeley.edu/~eichengr/ __ Use code FG20 to get 20% off Blockworks' Digital Asset Summit in March: https://blockworks.co/event/digital-asset-summit-2024-london __ Follow Dr. Barry Eichengreen on Twitter https://twitter.com/B_Eichengreen Follow Joseph Wang on Twitter https://twitter.com/FedGuy12 Joseph's writings can be found at https://fedguy.com/ Follow Jack Farley on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow Blockworks on Twitter https://twitter.com/Blockworks_ __ Timestamps: (00:00) Introduction (01:33) High Levels of Debt Relative to GDP Are Problematic (06:07) Ways By Which Debt-to-GDP Ratios Can Be Lowered (14:08) Will Artificial Intelligence (AI) Lead To A Productivity Miracle? (19:58) How Bad Does It Have To Get Before A Global Reserve Currency Gets Dethroned? (26:31) Central Banks Are Buying More Gold (30:31) What Could Erode Dollar's Dominant Position In The World (40:39) Dr. Eichengreen's Views On Modern Monetary Theory (MMT) (46:05) Is Central Bank Independence Something That's Here To Stay? (49:16) Central Bank Digital Currencies (CBDCs) (59:49) Dr. Eichengreen's Future Work On China's Economic Slowdown __ Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Barry Eichengreen, professor of economics and political science at the University of California, Berkeley, and Chima Simpson-Bell, economist in the African Department at the International Monetary Fund, joined Taylor Pearce, senior economist at OMFIF, to discuss the rise of gold as a central bank reserve asset. OMFIF's Global Public Investor 2023 report revealed a resurgence in demand for traditional reserve assets, including gold. The podcast explores the structural trends behind the increase in gold accumulation and offers insight into emerging markets' motivations for acquiring it. It also examines the findings of the IMF publication on central banks' post-financial crisis gold reserve growth.

Tune in for this week's trend following conversation with Alan Dunne, where we discuss Barry Eichengreen's paper on living with high public debt and how the high level of debt can be addressed, the relationship between interest rates and GDP, how Forex trading have evolved over time and why it is having a renaissance at the moment. We also discuss return expectations in markets and diversified strategies and Alan reports what he experienced from a recent investor event in Paris.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Episode TimeStamps:00:57 - What has been on Alan's radar recently?04:55 - Industry performance update08:16 - Living with high public debt20:27 - Other investors' view on the high level of debt24:10 - How the trading of FX markets have evolved32:58 - Do you need specialists to trade markets?37:45 - China imposing trading restrictions?40:36 - Where returns may go from here?48:49 - High interest rates not beneficial for high leverage strategies?51:05 - Inside knowledge from Paris Investor event59:11 - Alan to host upcoming Systematic Investor episodes01:00:29 - Thanks for listening Copyright © 2023 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things

Barry Eichengreen, Professor of Economics and Political Science at the University of California, Berkeley, is a former senior policy adviser at the International Monetary Fund. He is the author of many books, including most recently “In Defense of Public Debt”. He was also a presenter at the Fed's 2023 Jackson Hole Economic Symposium. In the podcast, we talk about the rise of debt around the world, how the structure of debt has changed, financial repression, and much more.   Follow us here for more amazing insights: https://macrohive.com/home-prime/ https://twitter.com/Macro_Hive https://www.linkedin.com/company/macro-hive

Donald Trump, Brexit, Covid-19: for a little while it seemed like nothing could stop the march of globalisation. But as tussels between the US and China come more sharply to the fore, will it finally have met its match? Barry Eichengreen, economist and professor at the University of California, Berkeley, joins Alan Rusbridger to discuss whether free trade and global markets can endure in the face of growing geopolitical rivalries. Hosted on Acast. See acast.com/privacy for more information.

The 16th Finance Commission is expected to be set up by November. So, this week on Puliyabaazi we discuss how vertical and horizontal devolution is decided based on the formula set by the Finance Commission, why some redistribution is inevitable, and Pranay's three ideas to incentivize better fiscal performance in the states. वित्त आयोग की फार्मूला के अनुसार केंद्र और राज्यों के बीच टैक्स का बंटवारा कैसे होता है? इस आवंटन में क्या बदलाव किये जा सकते है ताकि राज्यों के वित्तीय कामकाज में सुधार हो? इसी पर प्रणय देते है कुछ सुझाव इस पुलियाबाज़ी में। तो सुनियेगा ज़रूर। *****   useful links  ***** Let the Fiscal Federalism Games Begin by Pranay Kotasthane https://publicpolicy.substack.com/p/227-looking-ahead-looking-back#%C2%A7india-policy-watch-let-the-fiscal-federalism-games-begin Why the south-vs-north debate is a flawed way to analyse the 15th finance commission formula by Pranay Kotasthane https://theprint.in/opinion/why-the-south-vs-north-debate-is-a-flawed-way-to-analyse-the-15th-finance-commission-formula/44706/ India's Debt Dilemma by Barry Eichengreen, Poonam Gupta and Ayesha Ahmed https://www.ncaer.org/wp-content/uploads/2023/07/Paper-I-Barry-Poonam.pdf Fifteenth Finance Commission Reports for 2021-2026 https://fincomindia.nic.in/ShowContent.aspx?uid1=3&uid2=0&uid3=0&uid4=0 *****   more Puliyabaazi on Public Finance   ***** सरकार का पैसा आख़िर जाता कहाँ है? Understanding India's Public Finance ft. Avani Kapur https://puliyabaazi.in/episode/srkaar-kaa-paisaa-aakhhir-jaataa-khaa-hai-understanding-indias-public-finance-ft-avani-kapur हमारी शहरी सरकारें इतनी कमजोर क्यों है? The state of India's Municipal Finances https://puliyabaazi.in/episode/hmaarii-shhrii-srkaare-itnii-kmjor-kyo-hai-the-state-of-indias-municipal-finances ***************** Website: https://puliyabaazi.in Write to us at puliyabaazi@gmail.com Hosts: @‌saurabhchandra @‌pranaykotas @‌thescribblebee Puliyabaazi is on these platforms: Twitter: @‌puliyabaazi Instagram: https://www.instagram.com/puliyabaazi/ Subscribe & listen to the podcast on iTunes, Google Podcasts, Castbox, AudioBoom, YouTube, Spotify or any other podcast app.See omnystudio.com/listener for privacy information.

In recent years, the absolute level of government debt around the world has risen dramatically. The Covid emergency unleashed a huge wave of public-sector spending in 2020 and beyond. Meanwhile, spending remains high for other reasons, including public investment on climate and energy-related issues. So what does that mean for policy going forward? What does it mean for central banks tasked with controlling inflation? University of California at Berkeley economist Barry Eichengreen presented a paper on exactly this topic at this year's Jackson Hole Economic Symposium. On this episode, we speak with Eichengreen about his research, why it's of importance to central bankers, and what history says about the prospects for fiscal consolidation.See omnystudio.com/listener for privacy information.

University of California at Berkeley economist Barry Eichengreen presented a paper on ballooning government debt at this year's Jackson Hole Economic Symposium. On this bonus content episode of the Odd Lots podcast, Joe and Tracy speak with Eichengreen about his research, why it's of importance to central bankers, and what history says about the prospects for fiscal consolidation.See omnystudio.com/listener for privacy information.

Join Tom Keene, Jonathan Ferro and Lisa Abramowicz, live From the 2023 Jackson Hole Symposium with esteemed guests including Mohamed El-Erian of Queens' College Cambridge, Tracy Alloway of Bloomberg Odd Lots, Patrick Harker of the Philadelphia Fed, Kristalina Georgieva of the IMF and Barry Eichengreen of UC Berkeley.Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance See omnystudio.com/listener for privacy information.

Sovereign debt history of empires, city-states, early republics & parliaments, and democracies. On August 1, Fitch Ratings downgraded America's credit ratings from AAA to AA6+, which means that Germany, Luxembourg, Netherlands, Sweden, Switzerland and Denmark now have a better credit rating than we do. Fitch Ratings' stated reason for this month's downgrade is "erosion of governance" in the U.S., which makes sense. Back in June, we were on the brink of a national default - thanks to our politicians who were playing political chicken with our nation's debt. And if you recall, back in 2011, during another debt-ceiling standoff between the Congress and the White House, Standard and Poor's downgraded the U.S. government credit rating one notch below the top grade. (WSJ, 8/1/23). But does this Fitch Rating's downgrade really matter? Just last week, Greg Ip, the Chief Economics Commentator at The Wall Street Journal, a senior financial reporter whom I've followed and read for many years, asked the same question. And then, answered it. Yes, it does matter. The risk has to do with rising deficits and interest rates. (WSJ 8/9/2023). The Congressional Budget Office estimates that we'll continue to run a federal budget deficit, which it projects will reach 11.1% in the next 30 years. (WSJ, 7/27/23). The CBO also estimates that by 2029, the federal government will spend more on paying interest on our national debt than it will spend on our national defense. (NYTimes, 7/5/2023). So, is public debt a bad thing, something to entirely get rid of? Not exactly! To better public debt, its history and its useful implementations, I read Dr. Barry Eichengreen's book, In Defense of Public Debt, and invited him to our program. In this conversation, Dr. Eichengreen tells us when government borrowing started and for what purpose. Hint: the prime purpose of government borrowing in the past was war! Most of this discussion with Dr. Eichengreen, as you will note, takes place in the historical context of European countries. This is because Europeans borrowed more frequently than countries in Asia and Africa. Naturally, my follow-up question is why. The answer, once again, has to do with war! In this episode, we also talk about the role of central banks. Here, things get complicated. Dr. Eichengreen also answers this question: do democracies demand more debt? He also tells us how a democracy, such as ours, can run a surplus and eventually solve its public debt problem. To learn more about Dr. Eichengreen (UC Berkeley Economics), you can visit his academic homepage. Listen to Dr. Eichengreen's episode about the U.S. dollar & cryptocurrency. Of course, we cannot talk about America's public debt without also addressing our hemorrhaging entitlement programs. Dr. John Cogan (Stanford University and the Hoover Institution), tells the history of America's entitlement programs, including describing how Americans in the upper half of the income distribution receive humungous entitlement benefits and anecdotes such as Civil War pension still being paid in 2020! Click here to listen. I hope you enjoy these episodes. Adel Host of the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠History Behind News⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ podcast Watch my guests & I ⁠⁠⁠⁠⁠on YouTube⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠SUPPORT⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Click here⁠ and join⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ our other supporters in the news peeler community. Thank you.

How would she feel about the first-ever U.S. default? How does she feel about high inflation? My guest, Jon Hilsenrath, a senior correspondent of the Wall Street Journal, tells us exactly how Secretary Yellen feels about inflation (a stain on her record), and would feel about the first-ever U.S. default (heart attack!). And he also explains how she was compelled to take this job — a job she initially declined. “These are fucking people!” shouted Janet Yellen as she pounded the table. But it was not vulgarity. It was passion about the plight of people, people who are more than numbers, people who deserve better policies. Secretary Yellen has been worried about a potential U.S. default for at least two years now. And she is determined to get inflation under control. But Janet Yellen has been here before — speaking about and dealing with America's economy. So her story, as told by Mr. Hilsenrath, is really the story of America's economy and its economic thoughts and policies. And in this story, her husband, Dr. George Akerlof, who is a recipient of a Nobel Prize in economics, plays a big role (as she does in his professional life). Yellen, Akerlof and their son, who also has a doctorate in economics, talk shop “all the time” at home. They live and breathe economics. In this episode, Mr. Hilsenrath tells us the many sides of Yellen's personality, and explains how they have in the past and may now influence her decisions — decisions with profound impacts on our economy. You'll hear about (1) Yellen's compulsive preparation (which, at least once, got in the way of swift decision-making), (2) her transition from the regimented and methodical approaches of the Fed to the hustle and bustle and politics of being a member of the U.S. President's cabinet, (3) her and her husband's moral purpose, (4) their desire, from early in their lives, to solve the unemployment issue, (5) their humilities versus the hubris of economists in general, (6) her legacy, and (7) her desire to do good, to do the right thing, in a town in which right and fairness aren't easily defined or attainable. You will also learn and laugh about many important figures in the U.S. economy, and their quirks. You will hear about a family who talks economics all the time — at the kitchen table and on vacation. You can learn more about Mr. Hilsenrath by clicking this link. And here is an Amazon link to his recent book, Yellen: The Trailblazing Economist Who Navigated an Era of Upheaval, which we discuss in this episode. Also, to about the history of the US dollar and its dominance, you can listen to my conversation with Dr. Barry Eichengreen of U.C. Berkeley here: HbN-S2E26. I hope you enjoy these episodes. Adel Host of the ⁠⁠⁠⁠⁠⁠⁠⁠⁠History Behind News⁠⁠⁠⁠⁠⁠⁠⁠⁠ podcast ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠SUPPORT⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠: ⁠⁠⁠⁠⁠⁠⁠⁠⁠Click here⁠ and join⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ our other supporters in the news peeler community. Thank you.

In this special IPR lecture, Professor Barry Eichengreen joins us to discuss his latest co-authored book, In Defense of Public Debt, which explores the origins, management, and uses and misuses of sovereign debt through the ages. This event took place on 24 April 2023. It forms part of the IPR's 'Polycrisis!' lecture series.

Join us for a thought-provoking conversation with Professor Barry Eichengreen, Professor of Economic and Political Science at University of California, Berkeley as we discuss what we can learn from economic history in the current volatile global macro environment. We discuss the uses and misuses of history and look at what history tells us about the policy response to the current strains in the banking system. We delve into Professor Eichengreen's work on the long term outlook for the US dollar, the exorbitant privilege that the dollar's reserve status bestows on the US and whether the Euro and the Chinese Renminbi are becoming credible alternatives to the dollar. We also discuss if rising public sector and private sector debt levels sustainable and whether the global economy has fully emerged from the period of secular stagnation which characterised the last decade.----------EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Cem on Twitter.Follow Barry on Twitter.Episode TimeStamps: 03:19 - Introduction to Barry Eichengreen 08:17 - A potential misuse of history 11:26 - A lesson forgotten? 14:25 - Are things starting to break? 16:49 - A lesson learned 18:44 - Should we be concerned? 22:19 - Are crises inevitable? 24:32 - Is the dollar under threat? 30:10 - The need for safe assets 36:02 - The state of the Euro 39:39 - Making alliances 43:17 - A change in approach...

In Episode 294 of Hidden Forces, Demetri Kofinas speaks with Distinguished Professor of Economics and Professor of Political Science at UC Berkeley, Barry Eichengreen. In his first appearance on this podcast nearly five years ago, Dr. Eichengreen discussed the legacy of the Great Moderation, a multi-decade period of low inflation and positive economic growth that lasted between the mid-1980s and the onset of the Great Financial Crisis. Since then, developed economies have experienced a period of lackluster growth known as “secular stagnation,” characterized by historically low-interest rates, persistently low inflation, and growing levels of social and political instability. The question that Dr. Eichengreen and Demetri wrestle with in this conversation is whether the current period of higher inflation and rising interest rates is a temporary phenomenon or if we are entering a new economic paradigm where sovereign debt levels become unmanageable, multilateral cooperation breaks down, and state power grows at the expense of capital and labor. Their conversation includes a discussion about the future of the US dollar, the potential internationalization of the Chinese Yuan, the crisis brewing in the Japanese bond market, and the role of gold and other commodities as potential reserve assets in a world where fiat-based collateral comes increasingly under stress. You can subscribe to our premium content and gain access to our premium feed, episode transcripts, and Intelligence Reports at HiddenForces.io/subscribe. If you want to join in on the conversation and become a member of the Hidden Forces genius community, which includes Q&A calls with guests, access to special research and analysis, in-person events, and dinners, you can also do that on our subscriber page. If you still have questions, feel free to email info@hiddenforces.io, and Demetri or someone else from our team will get right back to you. If you enjoyed listening to today's episode of Hidden Forces you can help support the show by doing the following: Subscribe on Apple Podcasts | YouTube | Spotify | Stitcher | SoundCloud | CastBox | RSS Feed Write us a review on Apple Podcasts & Spotify Subscribe to our mailing list at https://hiddenforces.io/newsletter/ Producer & Host: Demetri Kofinas Editor & Engineer: Stylianos Nicolaou Subscribe & Support the Podcast at https://hiddenforces.io Join the conversation on Facebook, Instagram, and Twitter at @hiddenforcespod Follow Demetri on Twitter at @Kofinas Episode Recorded on 01/17/2023

As of October 2022, the U.S. national debt stood at over $31 trillion. That amounts to nearly $90,000 of debt per citizen. But is there an upside to a government spending more than its tax revenues? How much should we worry about debt of this magnitude? Does history offer lessons for today? Barry Eichengreen joins EconoFact Chats to discuss these issues. Barry is the George C. Pardee and Helen N. Pardee Professor of Economics and Political Science at the University of California at Berkeley. He has served as a senior policy advisor at the International Monetary Fund. His latest book is In Defense of Public Debt.

As of October 2022, the U.S. national debt stood at over $31 trillion. That amounts to nearly $90,000 of debt per citizen. But is there an upside to a government spending more than its tax revenues? How much should we worry about debt of this magnitude? Does history offer lessons for today? Barry Eichengreen joins EconoFact Chats to discuss these issues. Barry is the George C. Pardee and Helen N. Pardee Professor of Economics and Political Science at the University of California at Berkeley. He has served as a senior policy advisor at the International Monetary Fund. His latest book is "In Defense of Public Debt."

Former US House Speaker Paul Ryan and Professor Barry Eichengreen join Governors Bredesen and Haslam for an informative conversation about our $31 Trillion national debt. Ryan, now a guest lecturer at Notre Dame and Visiting Fellow with the American Enterprise Institute, says our debt burden is a serious risk, both to our currency and ability to provide for future needs. UC Berkeley's Eichengreen suggests that some debt is “good” and may be a necessity in times of war or pandemics.

Hey there Newspeelers, Tune in this Friday for an exciting conversation with Dr. Barry Eichengreen of UC Berkeley Economics about the U.S. dollar. This episode will be available at 6 am ET, Aug. 17th. Talk to you guys then. Adel Host of the History Behind News podcast HIGHLIGHTS: get podcast highlights in your inbox. SUPPORT: please click here and join our other supporters in the news peeler community. Thank you.

In a stark display of their economic power following Russia's invasion of Ukraine, the United States and its allies deployed an array of sanctions aimed at curtailing Russia's access to …

In a stark display of their economic power following Russia's invasion of Ukraine, the United States and its allies deployed an array of sanctions aimed at curtailing Russia's access to …

Barry Eichengreen, professor at University of California at Berkeley, a foremost expert on economics and international finance, joins Kopi Time. We begin with the war in Ukraine, where he is calling for rebuilding to begin even before the conflict is over, led by a consortium that supersedes multilateral institutions like the IMF/World Bank. We also delve into the demonstration effect of the sanctions imposed on Russia on other potential antagonists. In relation to that, the reach and scope of the weaponisation of the USD is discussed. We then move on to the issues of the moment, global inflation spike direction of Fed policy, recession risks, and debt overhang, with an interlude on digital currencies. A tour de force. See omnystudio.com/listener for privacy information.

Public debts have exploded to levels unprecedented in modern history as governments responded to the Covid-19 pandemic and ensuing economic crisis. Their dramatic rise has prompted apocalyptic warnings about the dangers of heavy debts―about the drag they will place on economic growth and the burden they represent for future generations. In Defense of Public Debt (Oxford University Press, 2021) offers a sharp rejoinder to this view, marshaling the entire history of state-issued public debt to demonstrate its usefulness. Authors Barry Eichengreen, Asmaa El-Ganainy, Rui Esteves, and Kris James Mitchener argue that the ability of governments to issue debt has played a critical role in addressing emergencies―from wars and pandemics to economic and financial crises, as well as in funding essential public goods and services such as transportation, education, and healthcare. In these ways, the capacity to issue debt has been integral to state building and state survival. Transactions in public debt securities have also contributed to the development of private financial markets and, through this channel, to modern economic growth. None of this is to deny that debt problems, debt crises, and debt defaults occur. But these dramatic events, which attract much attention, are not the entire story. In Defense of Public Debt redresses the balance. The authors develop their arguments historically, recounting two millennia of public debt experience. They deploy a comprehensive database to identify the factors behind rising public debts and the circumstances under which high debts are successfully stabilized and brought down. Finally, they bring the story up to date, describing the role of public debt in managing the Covid-19 pandemic and recession, suggesting a way forward once governments―now more heavily indebted than before―finally emerge from the crisis. Javier Mejia is an economist teaching at Stanford University, whose work focuses on the intersection between social networks and economic history. His interests extend to topics on entrepreneurship and political economy with a geographical specialty in Latin America and the Middle East. He received a Ph.D. in Economics from Los Andes University. He has been a Postdoctoral Associate and Lecturer at New York University--Abu Dhabi and a Visiting Scholar at the University of Bordeaux. He is a regular contributor to different news outlets. Currently, he is Forbes Magazine op-ed columnist. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

Public debts have exploded to levels unprecedented in modern history as governments responded to the Covid-19 pandemic and ensuing economic crisis. Their dramatic rise has prompted apocalyptic warnings about the dangers of heavy debts―about the drag they will place on economic growth and the burden they represent for future generations. In Defense of Public Debt (Oxford University Press, 2021) offers a sharp rejoinder to this view, marshaling the entire history of state-issued public debt to demonstrate its usefulness. Authors Barry Eichengreen, Asmaa El-Ganainy, Rui Esteves, and Kris James Mitchener argue that the ability of governments to issue debt has played a critical role in addressing emergencies―from wars and pandemics to economic and financial crises, as well as in funding essential public goods and services such as transportation, education, and healthcare. In these ways, the capacity to issue debt has been integral to state building and state survival. Transactions in public debt securities have also contributed to the development of private financial markets and, through this channel, to modern economic growth. None of this is to deny that debt problems, debt crises, and debt defaults occur. But these dramatic events, which attract much attention, are not the entire story. In Defense of Public Debt redresses the balance. The authors develop their arguments historically, recounting two millennia of public debt experience. They deploy a comprehensive database to identify the factors behind rising public debts and the circumstances under which high debts are successfully stabilized and brought down. Finally, they bring the story up to date, describing the role of public debt in managing the Covid-19 pandemic and recession, suggesting a way forward once governments―now more heavily indebted than before―finally emerge from the crisis. Javier Mejia is an economist teaching at Stanford University, whose work focuses on the intersection between social networks and economic history. His interests extend to topics on entrepreneurship and political economy with a geographical specialty in Latin America and the Middle East. He received a Ph.D. in Economics from Los Andes University. He has been a Postdoctoral Associate and Lecturer at New York University--Abu Dhabi and a Visiting Scholar at the University of Bordeaux. He is a regular contributor to different news outlets. Currently, he is Forbes Magazine op-ed columnist. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

Public debts have exploded to levels unprecedented in modern history as governments responded to the Covid-19 pandemic and ensuing economic crisis. Their dramatic rise has prompted apocalyptic warnings about the dangers of heavy debts―about the drag they will place on economic growth and the burden they represent for future generations. In Defense of Public Debt (Oxford University Press, 2021) offers a sharp rejoinder to this view, marshaling the entire history of state-issued public debt to demonstrate its usefulness. Authors Barry Eichengreen, Asmaa El-Ganainy, Rui Esteves, and Kris James Mitchener argue that the ability of governments to issue debt has played a critical role in addressing emergencies―from wars and pandemics to economic and financial crises, as well as in funding essential public goods and services such as transportation, education, and healthcare. In these ways, the capacity to issue debt has been integral to state building and state survival. Transactions in public debt securities have also contributed to the development of private financial markets and, through this channel, to modern economic growth. None of this is to deny that debt problems, debt crises, and debt defaults occur. But these dramatic events, which attract much attention, are not the entire story. In Defense of Public Debt redresses the balance. The authors develop their arguments historically, recounting two millennia of public debt experience. They deploy a comprehensive database to identify the factors behind rising public debts and the circumstances under which high debts are successfully stabilized and brought down. Finally, they bring the story up to date, describing the role of public debt in managing the Covid-19 pandemic and recession, suggesting a way forward once governments―now more heavily indebted than before―finally emerge from the crisis. Javier Mejia is an economist teaching at Stanford University, whose work focuses on the intersection between social networks and economic history. His interests extend to topics on entrepreneurship and political economy with a geographical specialty in Latin America and the Middle East. He received a Ph.D. in Economics from Los Andes University. He has been a Postdoctoral Associate and Lecturer at New York University--Abu Dhabi and a Visiting Scholar at the University of Bordeaux. He is a regular contributor to different news outlets. Currently, he is Forbes Magazine op-ed columnist. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/public-policy

Public debts have exploded to levels unprecedented in modern history as governments responded to the Covid-19 pandemic and ensuing economic crisis. Their dramatic rise has prompted apocalyptic warnings about the dangers of heavy debts―about the drag they will place on economic growth and the burden they represent for future generations. In Defense of Public Debt (Oxford University Press, 2021) offers a sharp rejoinder to this view, marshaling the entire history of state-issued public debt to demonstrate its usefulness. Authors Barry Eichengreen, Asmaa El-Ganainy, Rui Esteves, and Kris James Mitchener argue that the ability of governments to issue debt has played a critical role in addressing emergencies―from wars and pandemics to economic and financial crises, as well as in funding essential public goods and services such as transportation, education, and healthcare. In these ways, the capacity to issue debt has been integral to state building and state survival. Transactions in public debt securities have also contributed to the development of private financial markets and, through this channel, to modern economic growth. None of this is to deny that debt problems, debt crises, and debt defaults occur. But these dramatic events, which attract much attention, are not the entire story. In Defense of Public Debt redresses the balance. The authors develop their arguments historically, recounting two millennia of public debt experience. They deploy a comprehensive database to identify the factors behind rising public debts and the circumstances under which high debts are successfully stabilized and brought down. Finally, they bring the story up to date, describing the role of public debt in managing the Covid-19 pandemic and recession, suggesting a way forward once governments―now more heavily indebted than before―finally emerge from the crisis. Javier Mejia is an economist teaching at Stanford University, whose work focuses on the intersection between social networks and economic history. His interests extend to topics on entrepreneurship and political economy with a geographical specialty in Latin America and the Middle East. He received a Ph.D. in Economics from Los Andes University. He has been a Postdoctoral Associate and Lecturer at New York University--Abu Dhabi and a Visiting Scholar at the University of Bordeaux. He is a regular contributor to different news outlets. Currently, he is Forbes Magazine op-ed columnist. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Public debts have exploded to levels unprecedented in modern history as governments responded to the Covid-19 pandemic and ensuing economic crisis. Their dramatic rise has prompted apocalyptic warnings about the dangers of heavy debts―about the drag they will place on economic growth and the burden they represent for future generations. In Defense of Public Debt (Oxford University Press, 2021) offers a sharp rejoinder to this view, marshaling the entire history of state-issued public debt to demonstrate its usefulness. Authors Barry Eichengreen, Asmaa El-Ganainy, Rui Esteves, and Kris James Mitchener argue that the ability of governments to issue debt has played a critical role in addressing emergencies―from wars and pandemics to economic and financial crises, as well as in funding essential public goods and services such as transportation, education, and healthcare. In these ways, the capacity to issue debt has been integral to state building and state survival. Transactions in public debt securities have also contributed to the development of private financial markets and, through this channel, to modern economic growth. None of this is to deny that debt problems, debt crises, and debt defaults occur. But these dramatic events, which attract much attention, are not the entire story. In Defense of Public Debt redresses the balance. The authors develop their arguments historically, recounting two millennia of public debt experience. They deploy a comprehensive database to identify the factors behind rising public debts and the circumstances under which high debts are successfully stabilized and brought down. Finally, they bring the story up to date, describing the role of public debt in managing the Covid-19 pandemic and recession, suggesting a way forward once governments―now more heavily indebted than before―finally emerge from the crisis. Javier Mejia is an economist teaching at Stanford University, whose work focuses on the intersection between social networks and economic history. His interests extend to topics on entrepreneurship and political economy with a geographical specialty in Latin America and the Middle East. He received a Ph.D. in Economics from Los Andes University. He has been a Postdoctoral Associate and Lecturer at New York University--Abu Dhabi and a Visiting Scholar at the University of Bordeaux. He is a regular contributor to different news outlets. Currently, he is Forbes Magazine op-ed columnist. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/politics-and-polemics

Public debts have exploded to levels unprecedented in modern history as governments responded to the Covid-19 pandemic and ensuing economic crisis. Their dramatic rise has prompted apocalyptic warnings about the dangers of heavy debts―about the drag they will place on economic growth and the burden they represent for future generations. In Defense of Public Debt (Oxford University Press, 2021) offers a sharp rejoinder to this view, marshaling the entire history of state-issued public debt to demonstrate its usefulness. Authors Barry Eichengreen, Asmaa El-Ganainy, Rui Esteves, and Kris James Mitchener argue that the ability of governments to issue debt has played a critical role in addressing emergencies―from wars and pandemics to economic and financial crises, as well as in funding essential public goods and services such as transportation, education, and healthcare. In these ways, the capacity to issue debt has been integral to state building and state survival. Transactions in public debt securities have also contributed to the development of private financial markets and, through this channel, to modern economic growth. None of this is to deny that debt problems, debt crises, and debt defaults occur. But these dramatic events, which attract much attention, are not the entire story. In Defense of Public Debt redresses the balance. The authors develop their arguments historically, recounting two millennia of public debt experience. They deploy a comprehensive database to identify the factors behind rising public debts and the circumstances under which high debts are successfully stabilized and brought down. Finally, they bring the story up to date, describing the role of public debt in managing the Covid-19 pandemic and recession, suggesting a way forward once governments―now more heavily indebted than before―finally emerge from the crisis. Javier Mejia is an economist teaching at Stanford University, whose work focuses on the intersection between social networks and economic history. His interests extend to topics on entrepreneurship and political economy with a geographical specialty in Latin America and the Middle East. He received a Ph.D. in Economics from Los Andes University. He has been a Postdoctoral Associate and Lecturer at New York University--Abu Dhabi and a Visiting Scholar at the University of Bordeaux. He is a regular contributor to different news outlets. Currently, he is Forbes Magazine op-ed columnist. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance

Public debts have exploded to levels unprecedented in modern history as governments responded to the Covid-19 pandemic and ensuing economic crisis. Their dramatic rise has prompted apocalyptic warnings about the dangers of heavy debts―about the drag they will place on economic growth and the burden they represent for future generations. In Defense of Public Debt (Oxford University Press, 2021) offers a sharp rejoinder to this view, marshaling the entire history of state-issued public debt to demonstrate its usefulness. Authors Barry Eichengreen, Asmaa El-Ganainy, Rui Esteves, and Kris James Mitchener argue that the ability of governments to issue debt has played a critical role in addressing emergencies―from wars and pandemics to economic and financial crises, as well as in funding essential public goods and services such as transportation, education, and healthcare. In these ways, the capacity to issue debt has been integral to state building and state survival. Transactions in public debt securities have also contributed to the development of private financial markets and, through this channel, to modern economic growth. None of this is to deny that debt problems, debt crises, and debt defaults occur. But these dramatic events, which attract much attention, are not the entire story. In Defense of Public Debt redresses the balance. The authors develop their arguments historically, recounting two millennia of public debt experience. They deploy a comprehensive database to identify the factors behind rising public debts and the circumstances under which high debts are successfully stabilized and brought down. Finally, they bring the story up to date, describing the role of public debt in managing the Covid-19 pandemic and recession, suggesting a way forward once governments―now more heavily indebted than before―finally emerge from the crisis. Javier Mejia is an economist teaching at Stanford University, whose work focuses on the intersection between social networks and economic history. His interests extend to topics on entrepreneurship and political economy with a geographical specialty in Latin America and the Middle East. He received a Ph.D. in Economics from Los Andes University. He has been a Postdoctoral Associate and Lecturer at New York University--Abu Dhabi and a Visiting Scholar at the University of Bordeaux. He is a regular contributor to different news outlets. Currently, he is Forbes Magazine op-ed columnist. Learn more about your ad choices. Visit megaphone.fm/adchoices

In the 133 edition of „bto 2.0 – der Ökonomie-Podcast mit Dr. Daniel Stelter“ Prof. Dr. Barry Eichengreen of the University Berkley of California and one of the authors of In Defense of Public Debt discusses the implications of public debt. When is it useful, when should it be restricted, how should governments deal with too high debt levels. For daily new analyses, commentaries and assessments of the economic and financial situation, visit www.think-bto.com. You can reach the editors at podcast@think-bto.com. We welcome your opinions, suggestions and criticism.

Will a host of privately minted cryptocurrencies displace the U.S. dollar? Professor Eichengreen tells us about a period in which private American banks issued their own notes. It was a chaotic time that ended with the Civil War. Why does this matter? Because not only is cryptocurrency all the rage with investors but also the U.S. government is getting into the game. The Federal Reserve had been studying digital dollars, and President Biden recently issued a cryptocurrency executive order. Our guest, Mr. Barry Eichengreen, is a Distinguished Professor of Economics and Professor of Political Science at the University of California, Berkeley, and he is a Research Associate of the National Bureau of Economic Research (Cambridge, Massachusetts) and Research Fellow of the Centre for Economic Policy Research (London, England). Prof. Eichengreen is the author of Exorbitant Privilege: The Rise and Fall of the Dollar and the Future of the International Monetary System (see Amazon). His latest article is "Digital Currencies - More than a Passing Fad?" In this episode, he answers questions like what is cryptocurrency? What is it used for and are there different types? What percentage of world trade is conducted in U.S. dollars and will cryptocurrency endanger the dollar's dominance? Why are countries such as Iran, China and Venezuela interested in cryptocurrency? And what about El Salvador? Is it a joke that they want to harness the power of a volcano to mint Bitcoins? I hope you enjoy this episode and gain some perspective about the history of the U.S. dollar, its dominance and the rise of the digital dollar. Adel Host of ThePeel.news podcast U.S. Economy Series SUPPORT: To continue our free podcast program, we depend on our listeners' support. So please click this link https://anchor.fm/the-peel-news/support and join our other supporters in the news peeler community. Thank you.

Behind the News, 3/17/22 - guests: Lily Geismer on market-friendly New Democrats; Barry Eichengreen on sanctions and dollar supremacy - Doug Henwood

The unprecedented fiscal spending that many governments unleashed in response to the COVID-19 crisis has fueled an increasingly heated debate over the risks posed by public debt. But the debate is far from new, and history holds important lessons that should inform it. See acast.com/privacy for privacy and opt-out information.

What does the future of international and reserve currencies look like? Will the US dollar remain supreme or will we see the ascendance of the euro or renminbi? What role will digital currencies play and what does it all mean for emerging markets? In this episode, Paul Mackel, Global Head of FX Research at HSBC Global Research hosts Barry Eichengreen, Professor of Economics and Political Science at the University of California, Berkeley, in a fascinating and wide-ranging discussion on the changing nature of central banks, digital currencies and emerging markets. This episode is part of our Access Emerging Markets miniseries. It is an abridged version of a webinar that was originally held on 5 October 2021 as part of HSBC's Global Emerging Markets Forum 2021. Hosted on Acast. See acast.com/privacy for more information.

…from the rest of coastal East Asia when looked at in comparative context:Today Noah Smith & Brad DeLong talk about China, the Taiwan Semiconductor Manufacturing Corporation, Wilhelmine Germany before WWI, & other topics. The key insights are: (1) we need to get Dan Wang on this podcast; (2) in the context of coastal East Asia after WWII, it does not look as though China has any special economic development sauce—it’s just so huge—(3) China’s land-policy slowdown of migration to the coast has made its economic development significantly slower, (4) Barry Eichengreen with his theories of middle-income growth slowdown looks very wise, and (5) hexapodia!Regional Income Levels in China Today:The Coast-Interior Divergence:China Not That Special in Coastal East-Asian Context—Except for Being Very Large Indeed:If anything, it is distinguished by its late takeoff:The Three Chinas: A 50-Million Malaysia, a 300-Million Thailand, and a 1-Billion Vietnam All Mashed Together:References:Kathrin Hille: TSMC: How a Taiwanese Chipmaker Became a Linchpin of the Global Economy Barry Naughton: Growing Out of the Plan: Chinese Economic Reform 1978-1993 Noah Smith: China Is Very 20th Century Noah Smith: China Just Isn’t Very Popular Noah Smith: Invincible Empire?: ‘Can China’s Neighbors Resist Its Overwhelming Power? Joe Studwell: How Asia Works: Success & Failure in the World’s Most Dynamic Region TSMC: TSMC &:Vernor Vinge: A Fire Upon the Deep (Remember: You can subscribe to this… weblog-like newsletter… here: There’s a free email list. There’s a paid-subscription list with (at the moment, only a few) extras too.) Get full access to Brad DeLong's Grasping Reality at braddelong.substack.com/subscribe

The US unleashed what it calls its "toughest ever" sanctions against Iran. The Trump administration reinstated all sanctions removed under the 2015 nuclear deal, targeting both Iran and states that trade with it. They will hit oil exports, shipping and banks - all core parts of the economy.But what difference will they actually make? Ed Butler hears from Professor Jeffrey Sachs of Columbia University, an outspoken policy advocate who thinks Trump's America First policies are endangering the very status of the dollar as the world's chosen reserve currency. And to explain how a reserve currency works, Ed hears from Barry Eichengreen, a well-known currency expert and professor of economics at Berkeley in California. And the programme considers whether China's renminbi, or the euro, could ever take over from the mighty dollar.Producer: Laurence Knight(Picture: An Iranian protester burns a dollar banknote; Credit: Majid Saeedi/Getty Images)