Episode 519
Menger's Barter Theory of the Origin of Money Is Still Standing
The Human Action Podcast · Mises Institute
September 30, 2025
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Show Notes
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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Topics
Money and BankingValue and Exchange