The Controversial Rise of Central Banking

Central banks are the supposed champions of both price stability and financial stability....

But, have prices and finance really been very stable? or was the world of money actually more stable before central banking was invented?

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5 BOOKS THAT INSPIRED THIS CHANNEL

SOURCES:

Timestamps:
0:00 - introduction
0:35 - South European Banks
4:08 - Bank of Amsterdam
9:38 - Channel plug
10:03 - Sveriges Riksbank
13:18 - Bank of England

Attribution:
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Narrated and produced by Dr. Joeri Schasfoort (University of Groningen)

[MoneyMacro]

If you make strong claims that are contradicted by data, such as central banking is one big conspiracy and inflation only happened after central banking, please provide me with credible sources (e.g. data / historical sources / academic papers) and I will consider them as well :)

Oh and scammer in the comments!!! I will NEVER ask you to contact me by phone.

[tubewoodycool]

Finally some talk about riksbanken. Another fun fact is that it was the first central bank to introduce a negative interest rate. Maybe a potential topic for a future video?

[erikengheim]

You are doing such a good job presenting this material. This channel really has the potential to get quite big. I think a lot of people are interested in getting thorough and engaging analysis of all these economic topics. Economics is a subject which can be both extremely exciting and interesting but also bone dry. In high school economics was my most hated subject. It was just so incredibly boring. Not because of theory, because I have been into physics, chemistry, math etc for quite some time, but all these Bob and Alice setup a Lemond stand examples ruin economics as a subject.

Despite the Wealth of Nations being a long read, it was among the first economics books which got me engaged. The same can be said about Freaconomics or the Undercover Economists. I believe economics is best taught when paired with interesting real world history and analysis of our society. So many school books seem to want to get to the point so fast, that they rip out all the parts which provide spicy to the story. They think by making the page count half as long, people will read and grasp the material in half the time. Yet it becomes 4x more boring, so you spend 4x the time just slogging through. A short unengaging text is "longer" than a longer engaging text.

[leponpon]

Loved that episode debunking EE and other economic myths and giving truth a place to exist in here : ) Thank you and please make more educational informative like these

[adaslesniak]

It's so interesting because you provide wide background - how banking was connected to wider economy and individual interests... that would be unbelievable if there was no corruption. And your videos allow to understand other aspects of history better. Thank you.

[JohnCooganPlus]

I love this channel so much! Keep up the amazing work!

[Danny_Handford]

Excellent research work Joeri! Many thanks for doing this and making it available on YouTube. I learned a lot of things that I was not aware of. We can always make some rules on how we should do business and then give the participate that agree to the rules names such as merchants, manufactures, farmers, consumers, bankers, along with many other types participants. The rules can always be changed to try to improve things or make things easier or to make things more secure. Whether the transactions are made with gold and silver coins or other items that the participants agree too or by a hand shake or by documenting items in ledgers does not really matter as long as the participants are honest and trustworthy and follow the rules they have agreed to. It really does not matter what money and financial system is used as long as the participants are honest and trustworthy and follow the rules! The problems and issues that have plagued money and financial systems throughout history is that there are always a considerable number of participants that are not honest and trustworthy and engage in corrupt and criminal activities for personal gain and for power and glory. Not really sure if coming up with new rules and systems will ever solve this problem. Perhaps with the advancing computer and internet technologies the corrupt and criminal activity can be kept under control much better.

[altaica]

Just came across this channel just now and wow, I love this content, the research and your presentation. Dat ik jullie nog niet kende!

[inferno]

I am glad that your channel has provided a well-articulated explanation of the history of the Central Bank.

[benjamintreitz]

Teaching a Money & Banking class these days. Some of the elaborations in this video will be very helpful. Thank you very much!

[hasanchoudhury]

I am so glad I found your educational video just when things look most confusing and contradictory. Thanks !

[Benjaminimal]

Very, VERY glad I found this channel. Towards the tail end of my Economics BSc, I felt so confused and frustrated about the 'novelty' having worn off for me. In my university, the teaching was incredibly dry and not very inspiring, and left me wondering if I even cared for economics at all. I thought maybe I'd chosen the wrong path.

On a whim, I signed up for a master's program that taught innovation economics and all sorts of heterodox economic theory. And by complete accident, I discovered Joeri's channel around the same time. This has totally rekindled the fire for me! Great videos, keep it up:-)

[hoponasu]

Thank you for posting - at times like our right now this background information is vital for everyone to understand what is at stake .

[eanerickson]

"A central bank provides financial services to the government." That is an understatement.

[eanerickson]

If a central bank cannot grow an economy, it has no right to devalue its notes. It's like a beekeeper who takes too much honey and kills the hive.

[josecarlos]

Amazing content!! Happy to see the channel growing :)

[korakys]

Great video, looking forward to part two.

[PotatisenSimme]

Your animations got a lot more interesting and well done lately! Keep up the great work!

[theclawyaww]

Swede here and I had no idea about Riksbanken role in all of this. Great video!

[bdz_]

Mega quality in these videos! I'm loving your stuff!!