Ask ChatGPT
- Podcasts
- The Story of Money
- Introducing: The Story of Money
In short
The episode introduces “The Story of Money” from the Financial Times, arguing that understanding financial history helps predict modern events (e.g., AI bubbles, market crashes). It highlights recurring patterns in money and debt systems, from American frontier “wildcat banks” viewed as con men and hard to join, to ancient debt cancellation: Hammurabi reportedly wiped out debts when taking the throne, and lenders sometimes broke loan tablets to erase obligations.
Key claims
financial history repeats; past forces shape today’s financial world.
Notable examples
frontier banking; Hammurabi’s debt cancellation; breaking loan tablets.
Guests
Gillian Tett and Robin Wigglesworth (hosts).
Written by AI. May contain mistakes.
Ask about this episode
Get the gist, explore an idea or ask about something said.
ClaudeOn The Story of Money, what are the key points of this episode?
Searching your listeningTranscript
Automatic transcript. May contain errors.
0:00Gillian Tett: So they say that money runs the world.
0:02Robin Wigglesworth: But the story of money itself, well, that's where things get really interesting.
0:05Gillian Tett: From wildcat banks on the American frontier.
0:08Robin Wigglesworth: It was about as difficult to become a banker as it was to become a bricklayer. Many people viewed them as con men. The ancient rulers wiping out debts thousands of years ago.
0:19Gillian Tett: When a king came to the throne, and Hammurabi did this himself, one of the very first things he did was to cancel everyone's debts. Lenders really did break the tablets on which the loans were recorded. people were free. History, but especially financial history, has an uncanny way of repeating itself.
0:35Robin Wigglesworth: How, you might ask? Well, we've got a brand new podcast that explains exactly how. The story of money from the Financial Times.
0:43Gillian Tett: Hosted by me, Gillian Tett.
0:44Robin Wigglesworth: And me, Robin Wigglesworth. Each week, we go back in time to understand what the forces are that really shaped the financial world we live in today.
0:53Gillian Tett: Because whether it's artificial intelligence bubbles or the next big market crash.
0:58Robin Wigglesworth: Chances are it's all happened before.
1:01Gillian Tett: And if you don't understand the past,
1:03Robin Wigglesworth: well, you just might lose money in the future.
1:05Gillian Tett: So follow the story of money from the Financial Times, launching April the 22nd, new episodes every week, wherever you get your podcasts.
1:26Robin Wigglesworth: Calculating and filing accurately and audit defensively. Avalara, agentic AI tax and compliance with confidence. Investing with Schwab is like spending a Saturday at a great farmer's market. You can fill your reusable tote with a bit of everything. Maybe you go for some free-range, self-directed investing. Or perhaps you pick up a few farm-fresh trades while you peruse. You can even get help from a dedicated advisor. That's full-service wealth management. Mix, match, and change your mind whenever you want. Because at Schwab, you can invest your way. No matter your goals or appetite for investing, Schwab has everything you need, all in one place.
2:05Robin Wigglesworth: Visit schwab.com to learn more.
From the publisher
The economist John Kenneth Galbraith once quipped that “there can be few fields of human endeavour in which history counts for so little as in the world of finance.” This show sets out to prove the opposite. Each week, FT columnist Gillian Tett and FT Alphaville editor Robin Wigglesworth dig into the ideas, personalities and institutions that have shaped global finance. From unregulated banking in 19th-century frontier America to institutionalised debt jubilees in ancient Mesopotamia, and from the birth of credit derivatives to the great market meltdowns of the past, Robin and Gillian uncover the story of money because time and again, the same manias and mistakes resurface. Tune in and you might just understand where the next financial opportunities and disasters could be hiding.
Subscribe to The Story of Money wherever you get your podcasts and watch the show on YouTube.
Find out more about Gillian Tett here and Robin Wigglesworth here
Follow FT Alphaville here
Hosts: Gillian Tett and Robin Wigglesworth
Producers: Lulu Smyth and Michela Tindera
Executive Producers: Flo Phillips and Manuela Saragosa
Original music and sound engineering: Breen Turner
Podcast Development: Laura Clarke
Global Head of Audio: Cheryl Brumley
Hosted on Acast. See acast.com/privacy for more information.
More from The Story of Money
All episodesWe use cookies.They keep VO running smoothly and help us improve it. Privacy policy