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Back to Basics Series: The Velocity of Money (with Ann Pettifor)
If you’ve ever wondered why the economy feels stuck, even when it seems like there's a lot more money in the system, this episode will blow your mind.
Political economist Ann Pettifor joins Nick and Goldy to explain why money isn't flowing like it used to, and why that matters. Over the last century, the velocity of money (how quickly a dollar circulates) has plummeted. Today, each dollar in circulation generates up to 70% less economic activity than it did just ten years ago, so it's not being circulated through the local economies, growing wages, and building small businesses with each…
The skinny
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