The "What is Money?" Show cover image

How to Think About the Economy with Per Bylund (WiM248)

The "What is Money?" Show

00:00

The Origins of Money

I'm really amazed when I think about the data compression that's occurring and that one price. It seems like almost the entirety of production and consumption decisions related to a commodity across most of history should be contained in that price. This means money works because we recognize it as such and therefore accept it in exchange. Money is largely a self-reinforcing social institution. But when we already have money, it will continue to be money for as long as people consider it to be money.

Transcript
Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app