5min chapter

The "What is Money?" Show cover image

Why Freedom Matters with Neil Oliver (WiM237)

The "What is Money?" Show

CHAPTER

The Legal Monopoly on Money Production

I don't think we ever fix human nature, but we can consciously engineer the incentive structures we inhabit. And that seems to move the needle a little bit. The only way money can be printed out of thin air is if there is a legal monopoly on money production. Outsiders get all the costs dumped on them and it's preserved by violence. How much worse of an institution could you imagine? I mean, I don't even, I can't think of it.

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