Episode 20
1.17. Metals and Money, and especially of Gold and Silver
An Essay on Economic Theory · Mises Institute
December 1, 2014
Audio is streamed directly from the publisher (dts.podtrac.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Gold and silver were highly valued before they were used as money. They hold many advantages over other goods such as durability, divisibility, transportability, and homogeneity. These are the reasons which led gold, silver, and copper to be chosen as money, not “fancy” or common consent. When princes debase money or issue imaginary money, they hurt the economy.
From Part 1: Production, Distribution, and Consumption. Narrated by Millian Quinteros.
Topics
Monetary TheoryValue and Exchange