The "What is Money?" Show cover image

"Money: Free and Unfree" with George Selgin (WiM209)

The "What is Money?" Show

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How to Get by With Less Gold

After world war one, central banks inflated their money supplies dramatically. This has happened during a time when none of these currencies were convertible. One option was to try and get by with less gold - which turned out to be so dangerous. The problem with a system that relies so heavily on co operation by a few players is that if they don't co operate, it fails.

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