What has government done to our money?

The origin of money

Origin of money: Image of a shekel from the second temple period

This entry is part 2 of 6 in the series What has government done to our money?

This is part of our series on the book “What Has Government Done to Our Money?“. This post discusses one of the main concepts where the author of the book (Murray Rothbard) seems to disagree with what anthropologists tell us about the origin of money. Origin of money: per the author The author consistently refers […]

The free market

This entry is part 3 of 6 in the series What has government done to our money?

This is part of our series on the book “What Has Government Done to Our Money?“. This post discusses one of the main concepts where the author of the book (Murray Rothbard) uses the phrase “the free market” differently from how Adam Smith used it in his groundbreaking book “The Wealth of Nations“. The free […]

“Medium of exchange” is NOT the origin of money

What is money: Picture shows money of various nations in various denominations, bills and coins

This entry is part 4 of 6 in the series What has government done to our money?

This is part of our series on the book “What Has Government Done to Our Money?“. This post discusses two of the main concepts where the author of the book (Murray Rothbard) deviates from observed history. The first is the origin of money (which was NOT a “medium of exchange”, and the second is how […]

The supply of money vs the “price” of money

The supply of money: A chart showing currency, M1, and M2 within the US monetary supply from 1960 to about 2012

This entry is part 5 of 6 in the series What has government done to our money?

This is part of our series on the book “What Has Government Done to Our Money?“. This post discusses the supply of money, how free markets efficiently allocate improved standards from the fruits of capital investment, the use of two metals in coinage, and the suggestion that our banking system use a 100% reserve requirement. […]

Governments creating money out of thin air is counterfeiting?

Creating money out of thin air: Picture shows a sheaf of USD $100 bills

This entry is part 6 of 6 in the series What has government done to our money?

This is part of our series critiquing the book “What Has Government Done to Our Money?”. This post discusses the (I believe Libertarians’) belief that money creation should be done in a free market and governments creating money out of thin air is counterfeiting. The “Rothbard” mentioned below is Murry Rothbard, the author of the […]

Causes of hyperinflation? Excess government spending?

Causes of hyperinflation: Picture shows some 50 billion dollar Zimbabwean bank notes

This entry is part 7 of 6 in the series What has government done to our money?

This is part of our series critiquing the book “What Has Government Done to Our Money?“. This post discusses the federal government taking gold from people in 1933, the authors view causes of hyperinflation, the problems with fiat currencies, from his perspective, and the US money supply from 1815 to 1914.. The “Rothbard” mentioned below […]

Money Matters