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In this episode of The Heartland Daily podcast, managing editor Jesse Hathaway talks with Mercatus Center senior research fellow Stephen Miller about the history of postal banking in the United States, and why supporters of the idea, like presidential candidate Bernie Sanders (D-VT), have failed to learn from the mistakes of history.
Like a zombie that keeps on coming back from the grave, the idea of postal banking—inserting the United States Postal Services, a quasi-governmental agency tasked with delivering mail, into the business of providing banking services to people—keeps on coming back, because supporters have not learned the lessons of economics and history.