Listen "Money and Prices"
Episode Synopsis
Many believe that if governments would just issue greater quantities of money then all problems would be solved. In truth that would create unsurmountable problems by lowering the purchasing power of each money unit. Money is the one good that is not made better by increasing its supply.Rothbard discusses how money originates. Products are originally merely exchanged between people. This is the barter system and it is based upon the double coincidence of wants. Very shortly, one or two commodities like wheat or tobacco emerge on the market as more marketable than others. Money is now a medium of exchange. Calculations and the process of accounting become possible when there is money. Gold and silver emerged over years as the best money. Metals were exchanged in measures of weight, like grams. The slippery slope was created when, instead of weights, names were used for money like francs or dollars.
More episodes of the podcast Economics 101
The Future of Austrian Economics
02/03/2004
Mises in One Lesson
01/03/2004
Capital, Interest, and Profit
01/03/2004
Labor
01/03/2004
Labor and Unions
01/03/2004
Conservation and Property Rights
01/03/2004
Banking and the Business Cycle
01/03/2004
Chicago Economics v. Austrian Economics
21/04/2004
ZARZA We are Zarza, the prestigious firm behind major projects in information technology.