Lessons of the Great Depression
Against the Rules: The Big Short Companion
Pushkin Industries
4.6 • 9.8K Ratings
🗓️ 11 November 2025
⏱️ 38 minutes
🧾️ Download transcript
Summary
Andrew Ross Sorkin writes the business and policy newsletter DealBook for the New York Times and is co-anchor of Squawk Box on CNBC. He also has a historical bent, and has a new book out about the causes and consequences of the Great Depression in the 1930s. Sorkin speaks with Michael Lewis about how that crisis differed from the financial crash of 2008, and what we can learn by comparing the two eras.
For more, check out Sorkin’s book 1929: Inside the Greatest Crash in Wall Street History, and How it Shattered a Nation.
See omnystudio.com/listener for privacy information.
Transcript
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| 0:00.0 | This is an IHeart podcast. |
| 0:06.9 | Hey there, it's Michael Lewis. |
| 0:08.8 | Did you know that you can listen to the Big Short companion series on the Against |
| 0:12.4 | the Rules podcast on Amazon music, along with your other favorite podcasts. |
| 0:17.6 | To start listening, just download the Amazon music app, search for Against the Rules, and click Follow to keep up with new episodes. |
| 0:26.7 | You could also ask Alexa. Alexa, play against the rules on Amazon Music. |
| 0:31.8 | For Amazon Music Unlimited members, Audible is now included in your membership, and you can also listen to the big short audiobook in the app. |
| 0:40.1 | So you have your podcasts, your audiobooks, and your music, all in one place. Pushkin. |
| 1:02.4 | I'm Lydia Jean-Cott. |
| 1:04.1 | And I'm Michael Lewis. |
| 1:05.6 | And this is our big short companion series on Against the Rules. |
| 1:08.8 | Michael, the other day you were telling me when you were talking about this episode, how you were thinking about your days in college when you studied |
| 1:16.4 | art history. Tell me about that. Why are you thinking about that? One of the things that happens |
| 1:21.5 | when you're studying art history is professors, as just a teaching tool, often they'll just throw up two |
| 1:25.9 | pictures side by side and ask you to compare and contrast. |
| 1:30.6 | And you just look at a Rembrandt painting differently if it's next to a Rubens. |
| 1:35.5 | And you start thinking about what are the differences? |
| 1:38.2 | Like, what are the similarities? What are the differences? |
| 1:40.4 | It's just a tool for forcing your mind to move. |
| 1:43.9 | And as a tool for forcing our mind to move. And as a tool for forcing our mind to move about the 2008 financial crisis, I can't really |
| 1:51.0 | think of a better event than the 1929 crash and the slow rolling depression that occurred |
| 1:59.2 | after it. |
... |
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