Man, Economy, and State: Money & Its Purchasing Power with Robert Murphy

08/21/2020 Jeff Deist Robert P. Murphy

Economist Robert Murphy joins the show to cover Rothbard's excellent treatment of money in Chapter 11 of Man, Economy, and State. Dr. Murphy and Jeff cover why "hoarding" money is socially beneficial; why the velocity of money (and the famous MV=PT equation) is a useless concept, and how new money in society is never neutral. How and why does money maintain purchasing power, and does the interest rate really show the "price" of money? Why do we want "hard" money anyway? This is the show you need to better understand Rothbard's landmark exposition of money in an Austrian framework.

Read the book free of charge in searchable HTML format here.

Use the code HAPOD for a discount on Man, Economy, and State from our bookstore: Mises.org/BuyMES

Additional Resources

Hans-Hermann Hoppe on Hutt's "The Yield from Money Held": Mises.org/HoppeHutt

Bob Murphy's study guide to Man, Economy, and State: Mises.org/StudyMES

Man, Economy, and State: Mises.org/MES

What is the Mises Institute?

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.

Become a Member