Jeff Snider, Head of Global Investment Research for Alhambra Investments with Emil Kalinowski, angling to be the central figure in the next royal baccarat scandal. Artwork by David Parkins.
36.1 Progress and Poverty: The Long, Silent Depressions
What can the late-19th century Long Depression (1873-96) tell us about the early-21st century Silent Depression (2008-2?)? We turn to Henry George, the author of the most popular economics book of all time to learn what he got right, got wrong and how it applies to the present.
00:57 Is the late-19th century Gilded Age relevant to today’s early-21st century moment?
02:04 Did the world’s first recognizably modern worldwide depression start in 1872 or 1873?
03:25 By 1877, a riotous labor strike ended in bloodshed and military occupation of Scranton
05:12 Who was responsible for the depression? Many groups were identified but nobody was sure
07:45 Who is Henry George? Did he write THE MOST POPULAR economics book of all time!?
09:43 George believed the misallocation of land was the impediment to exchange, thus depressions
13:00 George however did not assign overarching importance to money itself, it was merely a chip
The Economic Emergency In 2020 and Beyond Won’t Be Covid: https://bit.ly/332eI0R
Progress and Poverty by Henry George, fifth edition (1881): https://bit.ly/390ZjBH
Alhambra Investments Blog: https://bit.ly/2VIC2wW
RealClear Markets Essays: https://bit.ly/38tL5a7