The Cultural and Political Consequences of Fiat Money
![Audio Mises Daily](https://cdn.mises.org/styles/responsive_4_3_650w/s3/static-page/img/Mises%20Daily_20140821_0.jpg.webp?itok=HX5j0Mze 650w,https://cdn.mises.org/styles/responsive_4_3_870w/s3/static-page/img/Mises%20Daily_20140821_0.jpg.webp?itok=7si7BCUy 870w,https://cdn.mises.org/styles/responsive_4_3_1090w/s3/static-page/img/Mises%20Daily_20140821_0.jpg.webp?itok=xLspfHof 1090w,https://cdn.mises.org/styles/responsive_4_3_1310w/s3/static-page/img/Mises%20Daily_20140821_0.jpg.webp?itok=yGSOJ_DF 1310w,https://cdn.mises.org/styles/responsive_4_3_1530w/s3/static-page/img/Mises%20Daily_20140821_0.jpg.webp?itok=JPh5-XGS 1530w)
Our global system of fiat moneys favors spenders and borrowers over savers. Low—and moderate—income households who wish to save for the future are at the greatest disadvantage, and this has led to profound cultural changes over the past century, writes Guido Hülsmann.
This audio Mises Daily is narrated by Keith Hocker.