The Intricacies of Yap Island's Stone Money

The Modern Monetary Theory (MMT) crowd prides itself on fidelity to actual history. But Murphy shows how leading MMT guru Randall Wray completely distorts his discussion of two historical episodes in his college lecture.

• Wray, "Modern Money Theory for Beginners": Mises.org/HAP496a
• The NBER Paper on Colonial Virginia's Money Regime: Mises.org/HAP496b
• NPR Planet Money, "A Giant Stone Coin At The Bottom Of The Sea": Mises.org/HAP496c
• Milton Friedman, "The Island Of Stone Money": Mises.org/HAP496d
• Bob's Article, "MMT and Treasury Debt Payoff": Mises.org/HAP496e

The Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

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