#19 – Logan Chipkin: Understanding Economics
Arjun Khemani Podcast
The History of Fiat Money
Fiat money is money imposed on a society by the government from the top down, by decree. Sound money is basically any money that the market freely chooses. The easiness or hardness of a money depends on its so-called stock-to-flow ratio. Inflation impedes our ability to error correct and wealth creation would be made easier with sound money.
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