September 12, 2016

Macro Musings 23: Michael Bordo on Anna Schwartz, Financial Crises, and Life as a Monetary Historian

Hosted by David Beckworth of the Mercatus Center, Macro Musings is a new podcast which pulls back the curtain on the important macroeconomic issues of the past, present, and future.

Michael D. Bordo is a professor of economics and the director of the Center for Monetary and Financial History at Rutgers University, a Distinguished Visiting Fellow at the Hoover Institution, and a research associate at the National Bureau of Economic Research. He has also been a visiting scholar at numerous central banks across the world.

Michael, a prolific scholar, joins the show to discuss a long career in monetary economics, including his research with the legendary Anna Schwartz. He shares his thoughts on the Great Recession and how it compares with the Great Depression. Additionally, he challenges the notion that financial crises like the 2007-2009 crisis are necessarily followed by slow recoveries. David and Michael also chat about the history of American banking law and how restrictions on interstate-branch banking until the 1990s hindered economic growth. Finally, Michael gives some advice about how to be a successful monetary historian!