ABC: The lowdown on money, on The Money

When Richard Aedy and Kate Pearcy, the presenter and producer of ABC Radio National’s flagship business and economics programme The Money, asked their listeners what question they would most like to hear answered, they got a simple response:

What is money?

I was one of the people Richard and Kate interviewed in The lowdown on money in search of the answer – alongside the estimable Steve Keen of Kingston University and Mardi Dungey of the University of Tasmania.

It’s an excellently made programme, providing a very clear introduction to how the modern money and banking system works in under half an hour.

[PS In the programme, I explain that money is best thought of as a ‘social technology’.  I hasten to add that this useful description – which the presenters pick up on quite a bit – is not mine: it was coined by the Cambridge sociologist Geoffrey Ingham in his masterful book The Nature of Money – required reading for anyone interested in money, its history, and how it works.]

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