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
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?
Welcome to Understand: Tech and AI
The Economy: 15. Energy market
The Economy: 14. Bankruptcy and insolvency
The Economy: 13. National Debt
The Economy: 12. Credit
The Economy: 11. Pricing and discounting
The Economy: 10. Inequality
The Economy: 9. International Trade and Currency Markets
The Economy: 8. Pensions
The Economy: 7. Jobs and Unemployment
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