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
- The Business Cycle
- Government counterfeiting
- Legal tender laws
- Suspension of specie payments
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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.
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 fuel to warm the house!