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Story and The Power of Control | The Stephan Kinsella Series | Episode 3 (WiM229)

The "What is Money?" Show

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The Importance of Property Rights in a Civilized Society

The credibility of one's control authority over their bodies or over resources they've justly acquired is largely determining whether they want to continue to invest or consume. If you have the expectation that your control authority over these resources is going to be violated at some point, well, then you have the incentive to just consume it. The saving strategy doesn't work in a world where someone's going to take your stuff basically. So you change the habits and the character of people and you impoverished the human race by having inflation in the first place.

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