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GOLDSTEIN: He says everybody has to use paper money, you know, upon pain of death. Like, you're a merchant, and somebody walks into your store and gives you a piece of paper that says it's from, like, the Waupun Bank in Waupun, Wis., and there's a picture of Santa Claus on it. So it used to be the case that banks printed their own bank notes. And we know this in part from Marco Polo, from other travelers. And then those receipts started turning into money. Just a moment while we sign you in to your Goodreads account. And you know what? Behold all the good things I've got to say about this book. You won’t find a paywall here.

So it used to be the case that banks printed their own bank notes. GOLDSTEIN: You know, I mean, one way to think about it is - what are the alternatives to money, you know? You know, it's like having to use pennies to do your grocery shopping or something. Got back to using... KING: This is my favorite part of the book - literally, my favorite part of the book. Well, you could be a really, really small, like, sort of clan-type self-sufficient society, right? What is it, and how does that fit in? Be the first to ask a question about Money. Iran Policy: Is America Safer Under Trump? And we know this in part from Marco Polo, from other travelers. Money only works because we all agree to believe in it; that's the reality of one of humanity's strangest inventions. However I felt that it lacked some of the punchiness. Jacob Goldstein, who co-hosts NPR's Planet Money, has spent years fixated on that question. KING: I was going to say, this is largely an optimistic book. It's a thing that societies create to solve some set of problems. NPR’s Planet Money co-host JACOB GOLDSTEIN discusses his new book, Money: The True Story of a Made-Up Thing, which was recorded at a live, virtual Radio Times event last Thursday. Want a digest of WHYY’s programs, events & stories? The final discussion in the book is on the theory of the moment – Modern Monetary Theory (MMT). But, ultimately, I guess what I'm asking you is - is money a good thing? Jacob Goldstein, the co-host of NPR's Planet Money, charts the evolution of money from coins to paper to virtual currencies in his new book Money: The … For example I had not been aware of a serious debate that has been undergoing about whether to disaggregate banks’ business.

Jacob Goldstein, who co-hosts NPR's Planet Money, has spent years fixated on that question. NPR’s Planet Money co-host JACOB GOLDSTEIN discusses his new book, Money: The True Story of a Made-Up Thing, which was recorded at a live, virtual Radio Times event last Thursday. GOLDSTEIN: Yeah, it's a real place, but you don't know that.

In Money, economics columnist, Jacob Goldstein shows how money is a useful fiction that has shaped societies for thousands of years, from the rise of coins in ancient Greece to the first stock market in Amsterdam to the emergence of shadow banking in the 21st century. Thanks. Jacob Goldstein, who co-hosts NPR's Planet Money, has spent years fixated on that question. (SOUNDBITE OF THE O'JAYS SONG, "FOR THE LOVE OF MONEY") Transcript provided by NPR, Copyright NPR.

The contents are divided into five parts: II – the Murderer, the Boy King, and the Invention of Capitalism. GOLDSTEIN: So that's pretty much off the table. GOLDSTEIN: Shared fiction. Thank you! If you can spend another couple of minutes making a pledge of as little as $5, you’ll feel like a superhero defending democracy for less than the cost of a month of Netflix. People started using just the receipts to buy stuff so that they didn't have to schlep the iron coins around. I’ve been a regular listener of Planet Money for a number of years and I like the short, punchy, irreverent but informative take on economic issues of the day. So what you do is you subscribe to these special periodicals called bank note reporters that exist just to tell merchants, like, what bank notes are real, first of all - because there's a lot of counterfeiting, obviously. However I’ve found that the main difficulty of arriving at a cogent view is cutting through the partisan noise surrounding these issues. Sometimes lots of people get better off for a long time, and then things get worse, and everybody gets poorer. It was the latter half of the book on modern money that really kept my interest. In Money, economics columnist, Jacob Goldstein shows how money is a useful fiction that has shaped societies for thousands of years, from the rise of coins in ancient Greece to the first stock market in Amsterdam to the emergence of shadow banking in the 21st century. In his new book, "Money: The True Story Of A Made-Up Thing," he writes that money is a shared fiction. WHYY thanks our sponsors — become a WHYY sponsor. These are important questions that any educated person needs to be able to answer. Summer is coming up. Money is indeed a useful store of value and a more easily transportable token than a gold bar (for example), but it’s the significance given to money from a central taxing authority that catapults money into the 21st Century. Goldstein gives an entertaining account of key shifts in money's history and his story telling craft has been honed fine by this time. KING: Jacob Goldstein, author of the book "Money: The True Story Of A Made-Up Thing." We all agree to believe that a paper $20 bill or the numbers in …


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