The Economic History Podcast with Fexingo: Past Recessions, Booms, and Lessons from History

Lucas and Luna dive into the forgotten recession of 1937-38, a sharp economic contraction that interrupted the post-Great Depression recovery. They explore how premature fiscal tightening—including FDR's decision to cut spending and the Federal Reserve's doubling of reserve requirements—choked off growth and sent unemployment soaring back above 19%. The episode examines the political fallout, the...

Everyone knows the Great Depression of the 1930s. But few remember the 1920-21 depression — a vicious 18-month contraction that slashed GDP by nearly 9 percent, sent unemployment above 11 percent, and wiped out half the value of industrial stocks. In this episode, Lucas and Luna dig into why this forgotten downturn matters today. They explore how the Federal Reserve raised interest rates aggressiv...

In this episode of The Economic History Podcast, Lucas and Luna revisit the Panic of 1873 — a global depression triggered by a railroad bond default and a failed bank. They zero in on one specific consequence: the creation of the modern clearinghouse system. Lucas explains how New York City's banks, led by the New York Clearing House Association, issued loan certificates during the panic that effe...

Lucas and Luna launch The Economic History Podcast by examining the economic aftermath of the 1918 influenza pandemic. They focus on a striking number: the US economy shrank by roughly 10% during the pandemic but rebounded with over 20% growth in 1919. The hosts explore how wartime planning, pent-up demand, and public health infrastructure shaped the recovery, compared to the post-COVID-19 boom. T...