The Origin of Money: Menger vs. Graeber
Bob explains the contributions of Menger and Mises to monetary theory. He then deals with the critique of David Graeber, who argues that the economists' story of the origin of money is bogus.
Bob explains the contributions of Menger and Mises to monetary theory. He then deals with the critique of David Graeber, who argues that the economists' story of the origin of money is bogus.
Money, what it is, where it came from, and why it is essential for just thriving society and economy.
Jason Purcell joins Bob to discuss his historical analysis of yield curves (in both UK and US) going back to the 1870s, which shows that central banks do indeed manipulate short-term interest rates.
Responding to economist Juan Ramón Rallo's critique of Ludwig von Mises's The Theory of Money and Credit in Una crítica a la teoría monetaria de Mises, Bagus demonstrates that Mises's supposed errors are not errors at all.
Bob continues his feud with George Selgin, explaining why the alleged free banking period in Scotland doesn't show that free-market banks would carry low reserve ratios.
Economics researcher Joakim Book joins Bob to discuss his recent article on the dollar's international dominance.
Mainstream economists claim money has purchasing power because the government issuing the money has so declared. That makes no sense.
Mainstream economists claim money has purchasing power because the government issuing the money has so declared. That makes no sense.
Since early 2023, full-time jobs have flatlined while part-time jobs have grown. Meanwhile, total number of employed workers has flatlined, too.