By: Murray N. Rothbard - Read: October 28, 2024 - Rating: 8/10
A concise and insightful explanation of the fundamentals of money. Builds into an argument against government control of money through central banking.
Money is nothing but an ordinary commodity that starts to become a medium of exchange. All the other uses of money stem from this primary utility.
Rothbard suggests that free market forces are perfectly capable of maintaining a functional currency. Then, he shows us that governments have used subtle coercion over time to artifically control the money supply and give themselves power, using central banking, fiat currencies, and inflation.