The mysteries of money

By Paul Walker 11/09/2012

John H. Cochrane and Harald Uhlig are interviewed by Gideon Magnus (Chicago PhD) at Morningstar. They talk about the foundations of money, fiscal theory, monetary policy, European debt problems, etc. About the video Cochrane writes

The video starts a little abruptly, as it left out Gideon’s thoughtful introduction (it’s in the Magazine) and framing question:

Gideon Magnus: I want to discuss the value of money and the idea that money is valued similarly to any other asset. Are there really assets backing money? If so, what are they? John, please explain.

[EC: I have been unable to get WordPress to embed this video from MorningStar. It is available here.]

The online version of the interview is here.