In this episode of the Saturday Morning Muse, Andrew Temte discusses the evolution of money, emphasizing the critical role of trust and confidence in economic systems. He explores how governments have historically been involved in issuing money to enhance trust, referencing the Code of Hammurabi as an early legal framework. The conversation also touches on the U.S. dollar's status as a reserve currency and the implications of the US national debt on global trust in the currency.
--------
11:02
Those that Fail to Learn from History...
In this episode of Saturday Morning Muse, Andrew Temte emphasizes the importance of financial literacy and understanding the history of trade and economics. He discusses the Smoot-Hawley Act of 1930, its implications on modern economic policies, and the lessons that can be learned from it. Temte highlights the significance of stability, consumer confidence, and the interconnectedness of the global economy, urging listeners to consider the historical context of current economic challenges.
--------
9:29
Money and the Origins of Debt
In this episode of Saturday Morning Muse, Andrew Temte reflects on Memorial Day and discusses the history and functions of money, focusing on credit transactions. He explains how credit transactions emerged from the need for trade in ancient economies and highlights the importance of understanding credit and debt in today's consumer-driven economy. Temte emphasizes the historical context of credit and debt, noting the unsustainable levels of national and household debt in the U.S.
--------
8:51
The History of Money
Summary
In this episode of Saturday Morning Muse, Andrew Temte explores the evolution of money, starting from the limitations of the barter system to the introduction of coinage and modern perspectives on cryptocurrencies like Bitcoin. He discusses the essential functions and properties of money, the historical context of trade, and the ongoing debate about what constitutes money in today's economy.
--------
11:44
How Trade Shaped the Modern World
In this episode of Saturday Morning Muse, Andrew Temte explores the evolution of trade from barter systems to modern currency. He discusses the inefficiencies of barter, such as the double coincidence of wants and the challenges of measuring value. Temte highlights the historical advancements that arose from the need to improve trade, including the development of writing, measurement systems, and currency. He emphasizes the importance of trade in human history and its role in fostering cooperation and economic growth.
Welcome to the Saturday Morning Muse and Andy’s Financial Literacy Lessons! Start to your weekend by investing 7-10 minutes of your time to explore topics that are designed to support your journey of personal and professional continuous improvement with a focus on improving financial literacy and financial decision-making.
Dr. Andrew Temte, CFA, is the former CEO of Kaplan Professional and is the author of Balancing Act: Teach, Coach, Mentor, Inspire, and The Balanced Business: Building Organizational Trust and Accountability through Smooth Workflows. He also hosts The Balancing Act Podcast, and The Saturday Morning Muse.
Dr. Temte earned his doctorate in finance from the University of Iowa with a concentration in international finance and investment theory. He holds the CFA designation and has over 15 years of university teaching experience.
An accomplished musician and leader of the rock band, The Remainders, he’s proud to announce the release of the band’s first original album, Feel Something New, which is available on all major music streaming platforms.
To learn more, visit www.andrewtemte.com.
USA