This book provides the intelligent layperson with a concise yet comprehensive overview of the theory, history, and practice of money and banking, with a focus on the United States. Although the author considers himself an Austrian school economist, most of the material in this book is a neutral presentation of historical facts and an objective description of the mechanics of money creation in today’s world.
The book is intended to be a reference for all readers, whether “Austrian” or not, and to bridge the gap by providing a crash course in the necessary theory and history while keeping the discussion tethered to current events.
— From the Introduction
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Robert P. Murphy is a Senior Fellow with the Mises Institute. He is the author of numerous books: Contra Krugman: Smashing the Errors of America’s Most Famous Keynesian; Chaos Theory; Lessons for the Young Economist; Choice: Cooperation, Enterprise, and Human Action; The Politically Incorrect Guide to Capitalism; Understanding Bitcoin (with Silas Barta), among others. He is also host of The Human Action Podcast and The Bob Murphy Show.
Joshua Mawhorter argues that slavery persisted largely due to government intervention rather than free-market mechanisms and highlights the inefficiencies and extensive costs associated with maintaining the institution.
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.
Dr. Jonathan Newman joins Bob to analyze Kamala Harris's proposals against price gouging, and how some mainstream economists defend Government price controls.
Robert P. Murphy
Published 2021 by the Mises Institute.
This work is licensed under the Creative Commons Attribution 4.0 International License (CC BY 4.0). http://creativecommons.org/licenses/by/4.0/
Mises Institute
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ISBN: 978-1-61016-740-6
