September 7, 2021

EP. 121 — The Future of Money with Eswar Prasad 

With the rise of mobile payment services and cryptocurrencies, money is at a moment of profound transformation. What is happening to money now, and where is it headed? On the show this week is Senior Professor of Trade Policy at Cornell University Eswar Prasad. You can check out his book, The Future of Money: How the Digital Revolution is Transforming Currencies and Finance, at


FACT-121-20210917-Prasad-RCv02-DYN.mp3 Speaker 1 [00:00:22] Hello and welcome to Factually. I’m Adam Conover, thank you for joining me once again as I talked to an incredible expert about all the amazing shit that they know that I don’t know and that you probably don’t know too. My mind is going to be blown. Your mind is going to be blown. We’re going to have a hell of a time together. Let’s start with this fun fact: did you know that nobody really knows what money is? Seriously. We’re all carrying it in our pockets, but none of us know what the hell it actually is. We know what we can do with it, but we don’t really know how to define it. I’ve listened to a lot of podcast episodes, I’ve read books, I’ve read articles that tried to explain it. If you corner economists, they will tell you that they know it has something to do with value and they know that something to do with trust and they know that debt plays some kind of rol

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