Perry Mehrling Explains Why "The Money View" Is Key To Understanding Financial Markets
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 27 January 2020
⏱️ 51 minutes
🧾️ Download transcript
Summary
Even to this day, there are economists who don't understand money or don't think that money is an important aspect of the economy. They see the world as still operating essentially under a barter system, with money only there as a means of lubricating transactions. But this is precisely the opposite way you should be looking at things, according to this week's guest. Perry Mehrling is a Professor of International Political Economy at the Pardee School of Global Studies, Boston University, and he's known for advocating what he calls "The Money View." In his framework, money is front and center (not something to be abstracted away). In our discussion, he explains how this view helps explain the financial crisis, the repo blowup, and the weaknesses of post-crisis regulations.
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| 0:00.0 | On December 4th and 5th, against the backdrop of the United Nations Climate Change Conference, |
| 0:05.2 | Bloomberg Green will convene the foremost leaders in business, finance, policy, academia, |
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| 0:25.1 | battle against climate change. Register at Bloomberg Live.com slash B Green Radio. Hello and welcome to another episode of the Oddbots Podcast I'm Joe Wiesenthall. |
| 0:45.0 | Joe Wiesenthall. |
| 0:47.0 | Joe, we like to talk about money on this show, don't we? |
| 0:50.0 | We sure do. |
| 0:52.0 | Both sort of things that are implicitly about money which is everything and then |
| 0:57.3 | also explicitly about money which is what it what is it where does it come from what are some different theories of how it exists |
| 1:05.2 | definitely i would say it's uh... one of our favorite topics |
| 1:08.6 | yeah and we also like to talk about the repo market |
| 1:12.4 | and one other thing we like to talk about the repo market and one other thing we like to talk about is the inadequacies of |
| 1:17.1 | traditional economic models so what if we were going to talk about all three of those in one big episode? |
| 1:25.0 | Ooh, I like that, like a true trifecta. |
| 1:27.6 | Like we had a recent episode on the repo market with the Holton Postar. That was great. We talked to Lord Skidelski recently on the failure of traditional |
| 1:40.6 | in traditional economists to understand money and as you mentioned we talk about money all the time |
| 1:46.3 | so I agree with that if we could sort of combine all of these themes |
| 1:50.9 | economist failures money, all these things, that would be a very |
| 1:56.5 | satisfying discussion. |
| 1:57.5 | All right, well, I have a feeling you are in for a satisfying discussion because our guest today is funny that you should |
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