Money

Dr. Sandy Klein walks through the origins and essential functions of money, showing how barter’s pitfalls led to the spontaneous emergence of money as a medium of exchange. She explains Menger’s and Mises’s insights into money’s evolution, why gold and silver prevailed, and how inflation and counterfeiting distort economies.

Recorded at the Mises Institute in Auburn, Alabama, on July 29, 2024.

Mises University is the world’s leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.