Where did money originate from? Were government Covid-19 policies effective? What do banks actually do? In this episode of the Marginal Babble Podcast Max sits down with Dr Lukas Altermatt out of the University of Essex to discuss the banking industry and how it has changed over time.Dr Lukas Altermatt:https://www.essex.ac.uk/people/alter16801/lukas-altermattReferences:1) Bank runs, deposit insurance, and liquidity, by Diamond, D W, & Dybvig, P H, 1983https://www.jstor.org/stable/18370952) Financial intermediation and delegated monitoring, by Diamond, D W, 1984https://www.researchgate.net/publication/4782653_Financial_Intermediation_and_Delegated_Monitor3) Home Price to Income Ratio (US & UK), by longtermtrends.nethttps://www.longtermtrends.net/home-price-median-annual-income-ratio/4) Median annual earnings for full-time employees in the United Kingdom from 1999 to 2022, by Statista, 2022https://www.statista.com/statistics/1002964/average-full-time-annual-earnings-in-the-uk/5) United Kingdom Interest Rate, by tradingeconomics.comhttps://tradingeconomics.com/united-kingdom/interest-rate6) Value of quantitative easing measures by the Bank of England (BoE) in the United Kingdom from November 2009 to November 2020, by Statistahttps://www.statista.com/statistics/1105570/value-of-quantitative-easing-by-the-bank-of-england-in-the-united-kingdom/7) Economic modelling of forced saving during the coronavirus (COVID-19) pandemic, Office for National Statistics, 2022https://www.ons.gov.uk/economy/nationalaccounts/uksectoraccounts/articles/economicmodellingofforcedsavingduringthecoronaviruscovid19pandemic/2022-06-068) Russia, China may be preparing new gold-backed currency, but expert assures US dollar 'safest' currency today, By Fox Business, 2022https://www.foxbusiness.com/economy/russia-china-may-be-preparing-new-gold-backed-currency-expert-assures-us-dollar-safest-currency-todayFurther Reading:The laureates explained the central role of banks in financial criseshttps://www.nobelprize.org/uploads/2022/10/popular-economicsciencesprize2022-2.pdfOn the Instability of Banking and Other Financial Intermediationhttps://papers.ssrn.com/sol3/papers.cfm?abstract_id=3599252Socials:Tiktok: https://www.tiktok.com/@maxwelldorey?lang=enInstagram: https://www.instagram.com/maxdorey96/Twitter: https://twitter.com/MaxDorey1LinkedIn: https://www.linkedin.com/in/maxwell-dorey-7958a4128/