
Understanding Money Mechanics with Bob Murphy (WiM397)
The "What is Money?" Show
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Understanding Money Mechanics
In this chapter, the hosts and the guest speaker discuss the nature and definition of money, including its role as a medium of exchange. They also explore the shortcomings of the US dollar as a widely accepted form of money and compare market money to political money. Additionally, they delve into the concepts of money supply, fiat currency, fiduciary media, fractional reserve banking, and the money multiplier effect.
Transcript
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