The Economics of the Merchant of Venice: Lessons from an Empire of Trade

The David McWilliams Podcast

David McWilliams

News & Politics

4.6 • 643 Ratings

🗓️ 13 February 2025

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

What can a city built on water teach us about the economics of the 21st century? In this episode, we dive into the economics of Venice, how a tiny republic with no natural resources became one of the most powerful trading hubs in history. From their financial innovations, like double-entry bookkeeping and reserve currency, to their mastery of diplomacy and soft power, the Venetians thrived for centuries by being nimble, opportunistic, and always thinking ahead. What led to their decline? And are there parallels between their story and modern Ireland’s role in global trade? Join us as we walk the eerie alleyways of Venice, explore its hidden economic history, and ask: what does it take to stay ahead when the world is constantly changing?

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Transcript

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0:00.0	How did the dog sneak out?
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1:00.8	To understand the economy, you have to understand human nature.
1:08.9	This podcast is powered by ACAST.
1:14.2	How you doing there?
1:15.5	It is time for the podcast.
1:18.0	And today, the podcast comes to you, courtesy of a couple of podcast fans that I just met in an Irish pub where I was watching the rugby. And they said to me,
1:31.0	look, look who's walked through the door? You should do a podcast on the economics of this wonderful
1:35.9	city, John, Venice. So, David and Jessica, for suggesting you should do a podcast from here.
1:41.8	Thank you very much. Love you to meet you in that Irish
1:44.2	bar in Venice watching the rugby. And here you are. So we're going to do a podcast today on the
1:50.4	economics of Venice, maybe even the economics of the merchant of Venice, John, because I'm staying.
	...

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