Ep.41 Know Nothing About The Economy? This Episode's For You.
Working Hard with Grace Beverley
sophie@grace-beverley.com
4.2 • 901 Ratings
🗓️ 15 May 2023
⏱️ 52 minutes
🧾️ Download transcript
Summary
Rupal Patel is a senior economist at the Bank of England and co-author of the best-selling pop-economics book Can’t We Just Print More Money, the Bank of England’s first book in its over 325 year history. Today, Rupal advises governors at the Bank of England on their policy decisions and is passionate about improving economic literacy amongst young women.
Rupal makes sure there is no stupid question left unanswered, from what actually is money, why aren’t Freddos 10p anymore to why shouldn't I hoard all my money under the mattress? Rupal is on a mission to make economics more accessible, giving us a fully comprehensive crash course.
- how Rupal became Senior Economist at the Bank of England
- how are the governors of the Bank of England appointed?
- why should we know about economics?
- what actually is money?
- why shouldn’t I hoard my money under the mattress?
- does my money actually exist in the bank?
- what stops a bank losing all its money?
- what you need to know about cryptocurrency
- why should we care we could go into a recession?
- how should I prepare for a recession?
- what jobs are at risk in a recession?
- why do we need to grow our economy?
- why can’t we just print more money?
- how do we have a cost of living crisis?
- what is cryptocurrency?
- why does my house fluctuate in price?
- what resources can I use to be in the know about the economy?
- how do you get a pay rise?
- what is a mortgage?
- what are interest rates and how do they affect us?
- what is the stock market?
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Transcript
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| 0:00.0 | It's the first customer of the day. |
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| 0:29.6 | . |
| 0:30.6 | More than half of the population say they don't understand economics basic principles, which is one of the reasons |
| 0:37.9 | that I really wanted to do this episode today. I think one of the most terrifying things for young |
| 0:42.9 | people is constantly being told, we're in a recession, there's this crash. You know, the economy's |
| 0:47.6 | been hit quite a bit and we might fall into recession, might not. Crypto is very different |
| 0:53.1 | to kind of money. |
| 0:54.4 | It might be worth five pounds today, |
| 0:56.3 | but also 50 pounds next week, |
| 0:57.7 | and you never be sure if you can't pay it back, |
| 1:00.8 | the bank can take away your house. |
| 1:02.7 | Is there a time that is statistically best |
| 1:05.3 | to get a mortgage? |
| 1:06.7 | Why can't we just print more money? |
| 1:08.8 | Why do I need to use a bank? It helps explain loads of questions that some people might be asking themselves now. |
| 1:14.6 | That is astounding. I love a fun fact. |
| 1:16.6 | Right, sit down, get your notepad out. Today's episode is a little bit different. I've been listening to the news lately. My alarm is radio four. I know sophisticated. I know intimidating. I know sorry. I'm so sophisticated. It actually hurts. But I've just been thinking about like how complicated it is all the time, |
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