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b'Michael D. Bordo is a professor of economics and the director of the Center for Monetary and Financial History at Rutgers University, a Distinguished Visiting Fellow at the Hoover Institution, and a research associate at the National Bureau of Economic Research. He has also been a visiting scholar at numerous central banks across the world. Michael, a prolific scholar, joins the show to discuss a long career in monetary economics, including his research with the legendary Anna Schwartz. He shares his thoughts on the Great Recession and how it compares with the Great Depression. Additionally, he challenges the notion that financial crises like the 2007-2009 crisis are necessarily followed by slow recoveries. David and Michael also chat about the history of American banking law and how restrictions on interstate-branch banking until the 1990s hindered economic growth. Finally, Michael gives some advice about how to be a successful monetary historian! David\\u2019s blog: macromarketmusings.blogspot.com Michael Bordo\\u2019s homepage: https://sites.google.com/site/michaelbordo/ David\\u2019s Twitter: @davidbeckworth Related links: Michael Bordo in The Wall Street Journal: \\u201cFinancial Recessions Don\\u2019t Lead to Weak Recessions\\u201d http://www.wsj.com/articles/SB10000872396390444506004577613122591922992 \\u201cA Lesson from the Great Depression that the Fed Might have Learned: A Comparison of the 1932 Open Market Purchases with Quantitative Easing\\u201d http://www.frbsf.org/economic-research/files/S01_P1_Arunima-Sinha.pdf \\u201cA Fiscal Union for the Euro: Some Lessons from History\\u201d http://www.nber.org/papers/w17380 \\u201cUnder What Circumstances can Inflation be a Solution to Excessive National Debt: Some Lessons from History\\u201d http://docplayer.net/6583440-Under-what-circumstances-can-inflation-be-a-solution-to-excessive-national-debt-some-lessons-from-history.html'