Where Did Money Come From?

Tags: Money and Banking, Money and Banks

10/09/2014 G. P. Manish

When all you can do is exchange one good for another, life will be inconvenient when nobody has what you really want. Enter money. You exchange your good for money. That money can now be exchanged for what you desired. These indirect exchanges satisfy everyone. That’s the power of money. This lecture by GP Manish was presented at “What Has Government Done to Our Money? A Seminar for High School Students,” hosted by the Ludwig von Mises Institute in Auburn, Alabama, on 9 November 2012. Includes an introduction by Mark Thornton.

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.