David McWilliams on The Story of Money—and Why It Matters for Markets | #610
Today’s guest is David McWilliams, an economist, podcast host and author. David worked at the Central Bank of Ireland, UBS and BNP Paribas and is the founder of the Kilkenomics Festival, a unique blend of economics and stand-up comedy. His book is called The History of Money: A Story of Humanity, which is my favorite book from 2025. In today’s episode, David walks through the evolution of money over the last 5,000 years. He explains why money is a foundational social technology that is central to every aspect of our civilization, from the political to the artistic. He delves into historical anecdotes—from clay tablets in Mesopotamia to Gutenberg’s printing press to Martin Luther’s disruptive influence on the church. Throughout the episode, he emphasizes that economists need to do a better job helping people understand money and its role in navigating modern economic principles.
Key Points
- David McWilliams explains how money evolved as a social technology, enabling complex human collaboration and innovation throughout history.
- The birth of the printing press, driven by Gutenberg's entrepreneurial spirit and the Catholic Church's need for mass-produced indulgences, inadvertently set the stage for Martin Luther's Reformation.
- McWilliams emphasizes the importance of understanding economics and finance as a means to democratize wealth and inspire innovation, particularly in regions less familiar with equity ownership.
Follow David: Website; LinkedIn; X;
Resources: The David McWilliams Podcast; The History of Money: A Story of Humanity
Sponsor: Alpha Architect Learn more about Alpha Architect and important information about the fund: funds.alphaarchitect.com/aaua
Chapters
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Transcript
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