How do governments create money out of thin air?
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Jonathan Smith |
TED-Ed
• July 2021
In March 2020, the COVID-19 pandemic rocked economies worldwide. Millions of people lost their jobs, and many businesses struggled to survive or shut down. Governments responded with some of the largest economic relief packages in history— the US alone spent $2.2 trillion on a first round of relief. So where did all this money come from? Jonathan Smith explores the strategy of quantitative easing. [Directed by Serin İnan, Kozmonot Animation Studio, narrated by Addison Anderson, music by Deniz Doğançay].