Escape Velocity with Lacy Hunt
The ACID Capitalist Podcast
00:00
Do You Accept That the Dollar Is Still the Reserve Currency of the World?
Economics is a science, it's evolving. Adam Smith said that price was determined by labor content. The demand curve was not developed until 1870 under William Stanley Jebbins. And it wasn't until 1900, when Marshall combined demand and supply the determined price. So basically, they've been a continuing saga of projections that the dollar would lose its reserve currency status.
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