For this post I am again reaching way back into the archives because this episode is really Planet Money at its best, at least if you are a really big nerd like me.
This podcasts also represents one of the most important mental exercises one can embark on, asking why. It turns out there is a very good reason why gold was the basic building block of global finance for centuries and why it continues to hold such a high value. However, that is not always the case. Some of the institutions we take for granted today exist simply because of an accident. My next post is going to be about the rise of the Pop Up add. The fact that the internet is largely free and paid for almost exclusively through ad revenue wasn’t a forgone conclusion. More on that tomorrow.