3min chapter

The "What is Money?" Show cover image

"Money: Free and Unfree" with George Selgin (WiM209)

The "What is Money?" Show

CHAPTER

The Long Run Tendency for Most Allfiot Currency Systems

When you go from slow iflation to rapid inflation, that actually starts to break down the division of labor, right? Shrinking the pie. So people in anticipation of that, at least as i've studied like the wymar hyper inflation, for instance, they hoarded cash as a means of protecting against uncertainty. Once it's clear that inflations accelerating, they start dumping the cash. And that seems to be, as you said earlier, the long run tendency for most allfiot currency system eh.

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