Why does the interest you pay on your credit card or your mortgage rate go up and down? What’s the Bank of England got to do with it all? In this episode, Tim Harford explains why the banks need to charge you interest when you borrow money and explains why the Bank of England might put interest rates up. Economic historian Victoria Bateman tells us why the Bank of England first lent money to the government. Spoiler alert…. it was to wage war.
Everything you need to know about the economy and what it means for you. This podcast will cut through the jargon to bring you clarity and ensure you finally understand all those complicated terms and phrases you hear on the news. Inflation, GDP, Interest rates, and bonds, Tim Harford and friends explain them all. We’ll ensure you understand what’s going on today, why your shopping is getting more expensive or why your pay doesn’t cover your bills. We’ll also bring you surprising histories, from the war-hungry kings who have shaped how things are counted today to the greedy merchants flooding Spain with silver coins. So if your eyes usually glaze over when someone says ‘cutting taxes stimulates growth’, fear no more, we’ve got you covered.
Guest: Richard Davies, Professor of Economics at Bristol University
Producer: Phoebe Keane
Researchers: Drew Hyndman and Marianna Brain
Editor: Clare Fordham
Theme music: Don’t Fret, Beats Fresh Music
A BBC Long Form Audio Production for BBC Radio 4
The US Election: 5. Becoming President
The US Election: 4. The General Election
The US Election: 3. The TV Debates
The US Election: 2. The Campaign Trail
The US Election: 1. Primaries, Caucuses and the National Conventions
Israel and the Palestinians: 5. The USA and Iran
Israel and the Palestinians: 4. The neighbours
Israel and the Palestinians: 3. Hamas
Israel and the Palestinians: 2. Israel
Israel and the Palestinians: 1. The Palestinians
Tech and AI: 10. Can we control AI?
Tech and AI: 9. Will AI take my job?
Tech and AI: 8. The Algorithm
Tech and AI: 7. Where is AI working already?
Tech and AI: 6. What is AI?
Tech and AI: 5. Big Data
Tech and AI: 4. Cryptocurrency, Blockchain and the Web version 3.0
Tech and AI: 3. VR, AR and the Metaverse
Tech and AI: 2. The Cloud
Tech and AI: 1. How do you get connected?
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