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6min chapter
Money, Violence, and The State with Brent Johnson (WiM 032)
The "What is Money?" Show
The King Needed to Eat. And So the State Got Provisions
The state had to issue the money before it could be used by private people. The king needed food and shelter in exchange for building roads, so he would give them to farmers or peasants. But at the end of the year, they had to sell that grain and pay tribute back to him. That's how an economy developed as opposed to just a system of barter. This is where the austrian school comes into conflict with my own ideas about free market economics.
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