28. Murray Rothbard, What Has Government Done to Our Money?, pt. 4

By | October 9, 2017

Murray Rothbard explains the origins of money, its use in a free society, and the obfuscation of the function of money by the government.  The free market creates money; government destroys it for its own ends.  Part 4 of 6.

Topics covered in this episode:

  • Government meddling with money
    • Taxation
    • Inflation
    • The Business Cycle
    • Government counterfeiting
    • Debasement
    • Legal tender laws
    • Suspension of specie payments

Murray N. Rothbard, What Has Government Done to Our Money?

Also mentioned in the episode:
Duryea, Scott N. “William Pitt, the Bank of England, and the 1797 Suspension of Specie Payments: Central Bank War Finance During the Napoleonic Wars. Libertarian Papers 2, no. 15 (2010): 1–17.

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Intro music: Ching by Glass Boy
Source of the text: Mises Institute


I mentioned in the episode that I would post some photos: from the end of the first World War to until the mid 1920s, Weimar Germany experienced a particularly nasty hyperinflation.

Where did I put my worthless ten billion mark bill?!



German marks make great kites!



…and blocks!



…and fuel to warm the house!