Menger's Barter Theory of the Origin of Money Is Still Standing

Menger’s Barter Theory of the Origin of Money Is Still Standing

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Tags: Money and Banking, Value and Exchange

09/30/2025 Robert P. Murphy Georgy Ganev

Professor Georgy Ganev joins Bob to explain that, contrary to the claims of David Graeber and the MMTers, the barter origin of money has not been refuted. The anthropological evidence is consistent with the Mengerian story, and Mises’ regression theorem remains the only coherent explanation for money’s value.

Professor Ganev’s Paper, “Has the barter theory of the origins of money been rejected?”: Mises.org/HAP519a

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