Money

Where does money come from? Sandy Klein walks through the Mengerian answer: not from a king’s decree or a social contract, but spontaneously, as traders gravitated to the most saleable good until one commodity became universally accepted. Along the way she shows why barter can’t sustain a real economy, why gold and silver kept winning out, and why—following Rothbard—there’s no such thing as an “optimal” money supply.

Recorded at the Mises Institute in Auburn, Alabama, on July 20, 2025.

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