Today’s guest is Edward Chancellor, financial historian, author of Devil Take the Hindmost, and previously part of GMO’s Asset Allocation team. He’s out with a new book yesterday called The Price of Time: The Real Story of Interest, which is equal parts history, financial education and philosophy.
In today’s episode, Edward walks through how interest, debt and money printing are related to things we’ve seen in society today and the past few years: zombie companies, bubbles, and massive amounts of paper wealth.
Then he narrows in on current day and shares why he believes low interest rates are causing the slow growth environment the world’s been stuck in over recent times, along with the bad kind of wealth inequality.
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