Exploring America's Economic History

Planet Money Summer School has launched a new season, delving into the foundational economic decisions made during the birth of the United States. The series examines critical moments in early American history, particularly the debates surrounding the establishment of a single currency. Through these explorations, listeners will gain insight into the economic challenges faced by the nation’s founders. The program highlights a significant historical conflict between the President of the United States and the President of the Bank of the United States, a clash that ultimately led to a series of financial panics. This episode serves as a reminder of the complexities involved in shaping a national economy and the repercussions of those early decisions on future financial stability. Additionally, the series takes a look at a time before the U.S. dollar was standardized, when a staggering 8,000 different forms of currency circulated throughout the country. The narrative progresses to the Civil War era, which marked the introduction of the first standard currency, illustrating how historical events have shaped the current economic landscape. Throughout the season, the program aims to explain the persistent cycle of economic booms and busts in America, despite various attempts to centralize the economy. The episodes are produced by Planet Money's Executive Producer Alex Goldmark and are fact-checked by Sofia Shchukina, ensuring a high standard of accuracy and engagement for listeners.