35 thoughts on “James Grant: “The Forgotten Depression of 1921: The Crash That Cured Itself” | Talks at Google

  1. I have never experienced central banking laid out as clear. Illuminating. It is time to make the effort to understand and act.

  2. Wait what? The geniuses at Google actually invited an Austrian economist? … Maybe there is hope for reason after all.

  3. Jim, for God's sake, you were about 20 minutes in before you even started to get to the point. Take some acting classes, get a good script writers, whatever, but learn to put yourself out there a bit better.

  4. 4:40 I hope that by "a different kind of contribution" the esteemed speaker is referring to the atom bomb.

    5:20 It's not so clear that progress in the physical sciences is cumulative either. Good papers are forgotten as TT string-theory jobs crowd out other approaches. Check physics professor job postings; it's not a beautiful world either.

  5. Google invited on an austrian economist… that gives me hope for the future 🙂 Seemingly, there are so many intelligent people supporting and believing in keynesian and what the world is doing and I found it confusing and disturbing. Now I think there are more Austrian minded people around than I thought, just maybe not as vocal =)

  6. this is really interesting , how high were levels of debt in 1921? , what caused those levels of debt low interest rates post ww1 ?

  7. The stealing periods that the ruling class pulled off from time to time has always fascinated me. But are not surprising. It's what a system based on stealing does!
    Blind faith in human abstractions though…
    can and will kill you!

  8. He missed the whole point of the Fed. It;s not about the currency but the price tool at the "other end" …. the price tool which now supports debt-free economic trades in the real economy

  9. Money is now, what it has always been, no matter if the tokens were wood, metal or paper. Its entries in a ledger at a bank. The ledger & token scam has been run for millennia now.

  10. He gave no reasons and shallow evidence for his basis that "measured money" is superior to fiat. I keep seeking a good alturnive argument to Mondern Money Theory, but these guys keep simply stating that gold standard is better and they do not dive deep into the mechanics. The proponents of MMT go to great lengths to describe the system how it does work and how it should work. You come away really having learned somthing and a great mental conception of the ideas. If you know of someone that really dives deep into this stuff I will again try to understand.

  11. Modern economists/neo-classical economists simply have no clue as to how the real economy works (it's a complex system!!! and it must be understood within the context of complexity theory!)

  12. @46:45 is he teary-eyed at the end of his quote?? I'm moved and confused all at the same time. Wow. It's actually quite beautiful.

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