From trade policy to public debt, today’s economic debates echo those of 1776. The problem isn’t a lack of knowledge — it’s a failure to teach and apply enduring principles.

In this episode of The Economist Next Door, host Paul Mueller is joined by AIER colleagues Lydia Mashburn Newman and Pete Earle to discuss the 2008 financial crisis, from the collapse of Bear Stearns to the failure of Lehman Brothers and the emergency response to AIG.  They examine how shifting government actions created uncertainty during the crisis, and how the Federal Reserve’s response—near-zero interest rates, liquidity facilities, and large-scale asset purchases—transformed monetary policy and reshaped financial markets for the next decade. How do these monetary decisions and decimal points affect the everyday lives of Americans? Listen and find out!

A job’s wage is not a measure of dignity — it’s a reflection of economic value. Confusing the two leads to policies that undermine opportunity.