Yesterday’s video over at the One Minute Economics YouTube channel was about something that tends to give economists goosebumps: capital controls :)
1) What are capital controls?
2) Why should you care?
As far as question #1 is concerned, give me one minute (seriously) of your time by watching the video and you’ll find out.
When it comes to question #2… ask those who had to deal with the Cyprus banking crisis back in 2013 and they can give you many reasons, heh. Seriously, capital controls are one of those things nobody cares about until THEY have to deal with it, until it affects them and their families.
I’d strongly advise against waiting until the proverbial you-know-what hits the fan to find out what capital controls are. Good luck!