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The Origin of Money: Menger vs. Graeber

The Human Action Podcast

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The Emergence and Evolution of Money

This chapter investigates the theoretical foundations of money's development, drawing on Menger's insights into liquidity and marketability. It discusses how certain commodities, particularly gold and silver, became universally accepted forms of money due to their favorable characteristics. The chapter also highlights Ludwig von Mises' contributions to monetary theory and explores the evolution of economic thought regarding the value and function of money.

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