11.08. The Determination of Prices: The Goods Side and the Money Side
From Man, Economy, and State, narrated by Jeff Riggenbach.
From Man, Economy, and State, narrated by Jeff Riggenbach.
Presented in Vienna, Austria, on 19 September 2011. Includes an introduction by Douglas E. French.
Presented in Vienna, Austria, on 21 September 2011. Includes an introduction by Douglas E. French.
There were firms and hierarchies before there were markets — and before there was money.
Banks can and do make clients shift from short-term deposits.
Unemployment, stagnant growth, and financial market convulsions can all be traced to a single decision.
Increases in money aren't sprinkled from the sky or distributed randomly throughout the population. They occur through the commercial banking system and the Federal Reserve. Those who receive the money first benefit at the expense of those receiving the money last.
The situation has become serious. Eurozone currencies will dissolve back into regional currencies.