When all you can do is exchange one good for another, life will be inconvenient when nobody has what you really want. Enter money. You exchange your good for money. That money can now be exchanged for what you desired. These indirect exchanges satisfy everyone. That's the power of money. This lecture by GP Manish was presented at "What Has Government Done to Our Money? A Seminar for High School Students," hosted by the Ludwig von Mises Institute in Auburn, Alabama, on 9 November 2012. Includes an introduction by Mark Thornton.
GP Manish is a Fellow of the Mises Institute and BB&T Professor of Economic Freedom within the Johnson Center for Political Economy at Troy University. He is a recipient of the Mises Institute's Douglas E. French Prize, George and Joele Eddy Prize, and the O.P Alford III Prize in Political Economy. He teaches a course on Advanced Austrian Economics in the Masters program at Troy University.