Randall Wray's MMT Lecture Distorts History
The Human Action Podcast
The Interplay of Money and Debt
This chapter examines the intrinsic value of fiat money, highlighting its dependence on state acceptance and the historical evolution of money linked to credit and debts. It critiques the notion that all money is inherently debt, using examples like POW camp currencies to illustrate alternative forms of exchange. The discussion also contrasts modern banking practices with historical monetary systems, revealing a complex relationship between money creation and debt repayment.
00:00
Transcript
Play full episode
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
