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Philipp Bagus Debates Franz Hörmann on Money

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07/20/2014

In this audio debate, Philipp Bagus, author of The Tragedy of the Euro, debates Franz Hörmann. Here is an interview with Hörmann to provide some additional context. The debate is in German, but Dr. Bagus provided a summary of the debate for us in English:

I explained why competition is good and leads to better and cheaper products; why interest is inherent to human action; why, without prices, economic calculation is impossible; why the market is the best instrument to reduce scarcity and a means of cooperation; why our monetary system is socialist, etc. Hoermann believes that scarcity is artificially induced by companies, and he thinks that everyone should do what he likes to do and the product of their labors can be transferred to other people who want it. Scarcity would end. No money for exchanges, interest, or prices is needed. He believes that the technology exists now to create the end of scarcity.

 

Regulierung VS Freiheit - Prof Hörmann VS Prof Bagus - Duell bei Tell 2014

Ryan McMaken (@ryanmcmaken) is the editor of Mises Wire and The Austrian. Send him your article submissions, but read article guidelines first. Ryan has degrees in economics and political science from the University of Colorado, and was the economist for the Colorado Division of Housing from 2009 to 2014. He is the author of Commie Cowboys: The Bourgeoisie and the Nation-State in the Western Genre.

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