Has History Given Central Banks an Impossible Job?

Thank you to Mint Mobile for partnering with us on this video! And for a limited time, you can get 50% off an unlimited premium wireless plan from Mint by visiting https://mintmobile.yt.link/pmtDn7t. ------ Sign up for my FREE newsletter! - https://www.compoundeddaily.com/ ------ #HowHistoryWorks #History #bussiness Link To Our Other Channel: https://www.youtube.com/c/HowMoneyWorks Written By: Sam Video Created By: Svibe Multimedia Studio Editor: Cardan Media Gatherer: Andrea Rivas Footage Courtesy of: Getty Images Music Provided By: Epidemic Sound 📩 Business Inquiries ➡️ [email protected] ----- For as long as they have existed Central Banks have been the target of resentment from politicians, conspiracy theorists, OTHER banks, and regular people just trying to make their repayments. BUT a detailed look at their turbulent role throughout history does show that sometimes, this anger is not necessarily misplaced… In several cases a system that was supposed to make an economy more stable, actually just ended up creating a single point of failure that was simultaneously too big to fail and too big to bail… So then, why is today any different? These institutions have routinely been installed without much consideration to the people they will be “serving” and given a job they might not even really have the ability to do. Maximum employment and price stability are respectable goals, but have prices really been more stable and employment more consistent since these banks became a common feature of almost every economy in the world? It’s a simple critique that these institutions should have an answer for because on top of all of this they are once again coming under attack around the world for apparently not doing this “simple” job correctly… potentially even worse is that some governments (not looking at anybody in particular) are figuring out new ways to circumvent their influence entirely… for better or worse… but maybe the problem lies in the fact that… this was never really supposed to be their job in the first place, the early central banks (if you could even call them that) operated very differently to the banks of today and they were established to try and solve one simple problem…