Classical Stuff You Should Know cover image

230: The Gold Standard

Classical Stuff You Should Know

00:00

The Benefits of Bartering

With bartering, you don't need like a perfect storm of desire in order for the deal to go through. So if I want to buy something really expensive, I don't have to have say 20,000 chunks of iron. I can have a few hunks of gold. And that way I can buy whatever I need to. There are some downsides to this, to this, this system. But there are definitely benefits. You come back with gold that is, you know, you're a merchant in Italy and you sell whatever you want in Morocco and you come back with Moroccan gold. That's a useful thing with gold. It has that, it is slightly fungible in

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