Aditi Sahasrabuddhe on the Role Central Banker Relationships Play in Economic Crises

阿迪蒂·萨哈斯拉布杜关于中央银行家关系在经济危机中扮演的角色

Macro Musings with David Beckworth

2025-08-18

59 分钟
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Aditi Sahasrabuddhe is a political scientist at Brown University and the author of the new book, Banker’s Trust: How Social Relations Avert Global Financial Collapse. In Aditi’s first appearance on the show, she discusses how central bankers’ relationships in the 1920’s impacted the global economy, how the ending of those relationships played a part in the Great Depression, how we can apply those principles to the Great Recession and the present, and much more. Check out the transcript for this week’s episode, now with links. Recorded on July 30th, 2025 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel  Timestamps 00:00:00 - Intro 00:00:50 - Aditi’s Intellectual Journey 00:03:57 - Louis Franck at the National Bank of Belgium 00:05:46 - Relationships and Crisis 00:11:07 - Central Bank Club 00:17:06 - Central Bankers and the Butterfly Effect 00:22:33 - Montagu Norman and Benjamin Strong 00:32:06 - Émile Moreau 00:34:48 - Japan 00:38:11 - Benjamin Strong and the Great Depression 00:48:55 - Great Financial Crisis 00:51:18 - India 00:55:25 - Jerome Powell the Central Banker 00:58:23 - Outro
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  • Welcome to Macro Musings,

  • where each week we pull back the curtain and take a closer look at the most important macroeconomic issues of the past,

  • present, and future.

  • I am your host, David Beckwith,

  • a Senior Research Fellow with the Mercatus Center at George Mason University,

  • and I'm glad you decided to join us.

  • Our guest today is Aditi Shahashrabude.

  • Aditi is the author of the new book titled Bankers Trust,

  • How Social Relations Avert Global Financial Collapse.

  • And she's a political scientist at Brown University.

  • Aditi joins us today to discuss how relationships among central bankers of the world are important when dealing with economic crisis.

  • Aditi, welcome to the program.

  • Thank you so much for having me.

  • Well, it's great to have you on.

  • I've been looking forward to this because as I read your book,

  • it really resonated with me the importance of human relationships,

  • the importance of people's ability to communicate and connect with others,

  • the importance of emotional intelligence, not just analytical intelligence.

  • And you really highlight this.

  • And this is something I think we take for granted or we just don't.