Macro Musings with David Beckworth cover image

Larry White on Gold, Fiat, and Bitcoin: Determining the Ideal Monetary Standard

Macro Musings with David Beckworth

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The Evolution of Money

Theory of how money was first introduced is a puzzle. It can't explain why we see gold and silver being used as coins. Some argue that traders didn't come up with it, but rather some central agency came up with this institution. That seems to be a much more plausible story.

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