In this episode, we first travel 700 years to the Mali Empire in West Africa. Mansa Musa, the ninth ruler of the Mali Empire, is the protagonist of our episode. In 1324, as a devout Muslim, Mansa Musa embarked on a pilgrimage to Mecca. On his way, he spent and gave away so much gold in Cairo that his actions disrupted the gold market's value there for at least 12 years.
His good deeds in foreign lands are among the first examples in History of how an altruistic idea can lead to adverse, unintended consequences. There are examples in our world today, particularly in foreign aid, where the generosity of wealthy nations and international organizations can have adverse effects on the impoverished communities they aim to help.
We will discuss this further at the end of the episode, after covering the events related to Mansa Musa. We will also discuss the California Gold Rush of the 19th century, as it will help us understand how a sudden influx of gold can create inflation, similar to what happened in Cairo in 1324.
Mansa Musa's generosity, the California Gold Rush, inflation, and foreign aid are the recipe ingredients for today's episode of The Cobra Effect Podcast.
For a full list of sources and other relevant links, please see the Full Transcript of this episode.
Thank you for listening. For additional information and social media links, you can visit https://www.thecobraeffectpodcast.com
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I would appreciate hearing your questions, comments, or suggestions for future topics. See you in two weeks for another episode of The Cobra Effect Podcast.
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