This is an excellent episode! The best primer one can have on the essence of Finance!
I love this podcast and eagerly wait for all episodes. However, some are better than the other good ones. This is one of those! I am also glad that it’s a video podcast and not just audio. It adds a lot of connect to the conversation.
Our professor at IIM, Ahmedabad, Prof. Sebastian Morris used to spend a full class – the first session of his course – on the Economic history of the world through 5-6 centuries and across civilisations. It was the most amazing single session I ever attended. This episode was reminiscent of that class. There should be a (or maybe multiple) episode to build on this theme of Finance and talk about unnecessary financialisation of the world.
I would like to recommend the book “My life and work” by Henry Ford which is a must-read to understand place of Finance in building industries and companies. Henry Ford (the book was written in 1921) had correctly criticised Finance and Bankers and had warned that they should not run the business and they should only finance the business activities. I have gifted that book to many people and always recommend it whenever I get an opportunity. It’s the most underrated business book!
I disagree with Ajay on the point related to people’s inability to digest losses. The issue here is that often times the promoters indulge in mismanagement or excesses knowingly or willingly. Nobody is cribbing about possibility of an enterprise taking risk and going bust. But when there is siphoning of money, excess splurging by promoters/top management, reckless decision making which leads to a common stockholder losing his equity, that needs to be checked and punished.
ekoshapu 
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