How did money begin? asks Murray Rothbard. Clearly, Robinson Crusoe had no need for money. He could not have eaten gold coins. Neither would Crusoe and Friday, perhaps exchanging fish for lumber, need to bother about money. But when society expands beyond a few families, the stage is already set for the emergence of money. To explain the role of money, we must go even further back, and ask: why do men exchange at all?
In Part II of What Has Government Done to Our Money?: ‘Money in a Free Society,’ Rothbard addresses:
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- The Value of Exchange
- Barter
- Indirect Exchange
- Benefits of Money
- The Monetary Unit
- The Shape of Money
- Private Coinage
- The Proper Supply of Money
- The Problem of Hoarding
- Stabilize the Price Level?
- Coexisting Moneys
- Money-Warehouses
- Summary
Rothbard’s ‘Money in a Free Society’ is now available for podcast or free download, read by Jeff Riggenbach.
The latest print edition of the book — including a detailed reform proposal, ‘The Case for a 100 Percent Gold Dollar’ — is available in the Mises Store.
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