4min chapter

The Rational Reminder Podcast cover image

What is Money? (plus Reading Habits w/ Dan Solin) (EP.207)

The Rational Reminder Podcast

CHAPTER

Is Bart Barter Inefficient?

The story of money comes from adam smith's well as the wealth of nations. In this telling, economic exchange was first accomplished through barter. But bart barter's inefficient because of the double coincidence of wants problem. So through market forces, and without any state intervention or legal intervention, self interested people naturally arrived at certain commodities as the generally accepted medium of exchange. And when that thing is arrived at, it becomes even more desirable. Once the market is agreed on what money is, that money becomes even more,. increases even more at that point.

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode