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Airs every Wednesday through Labor Day. Find All episodes of this season here. and Past Seasons. and Follow the video Summer School on TikTok.
Planet Money Summer School takes place at the dawn of the American Republic, and is an opportunity to build an entirely new economy from scratch. Should there be a central bank? Should there be a single currency? We will look back at two moments in the early days of the United States when the founders said “no” to these questions and see what the outcome was.
First, we will witness one of the greatest economic struggles in American history – between the President of the United States and his former president. bank The rise of the United States – and see how the result led to an era of financial panic. We’ll then look back to the era before the dollar, when you could buy things with one of the approximately 8,000 currencies in circulation in the United States. We see the Civil War lead to the creation of the first standard currency. Along the way, we’ll learn why, despite the United States’ historical efforts to centralize the economy, the cycle of economic boom and bust continues to this day.
We cover:
- Financial panic
- Boom and bust cycles are also called business cycles
- Lender of last resort
The series is hosted by Robert Smith and produced by Audrey Dilling. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Sofia Shchukina.
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