Is Sound Money the Answer? with George Gammon (WiM268)
The "What is Money?" Show
Debasing the Currency
I would draw on the lesson from Henry Haslett's book Economics and One Lesson here. In a perfect world, you could be correct, right, where the price decreased exactly offsets the interest rate the saver had to forego because there was cheap credit afforded to the widget maker. I think when you introduce this element of non-consensual exchange is when things get messy. That's kind of the problem with government is they misallocate the capital because they're not earning it in consensual exchange.
00:00
Transcript
Play full episode
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
