The Ethics of Money Production | Jörg Guido Hülsmann (Full Audiobook)

We are not used to thinking of money production as an industry like any other, but Jörg Guido Hülsmann shows that it can be studied with the customary tools of economics and rational ethics. He highlights the role of money within the market economy and discusses the ethical problems of competitive money production. The main focus of the book is on the social, cultural, and spiritual consequences of government-sponsored inflation. Hülsmann explains how such inflation vitiates the operation of national and international monetary systems and also causes numerous other problems such as the concentration of power and the decay of the family. He argues that the present-day forms of money production are contestable both on economic and ethical grounds, at any rate from a Christian point of view. Our monetary system creates unjust incomes, destroys wealth, subverts the moral foundations of society, and ultimately paves the way for hyperinflation and totalitarianism.

Jörg Guido Hülsmann is professor of economics at the University of Angers in France, and is the author of Mises: The Last Knight of Liberalism.

0:00:00 Preface
0:05:18 Introduction

Part 1: The Natural Production of Money
0:24:05 Monies
0:52:56 Money within the Market Process
1:10:23 Utilitarian Considerations on the Production of Money

Part 2: Inflation
1:51:50 General Considerations on Inflation
1:58:18 Private Inflation: Counterfeiting Money Certificates
2:16:19 Enters the State: Fiat Inflation through Legal Privileges
2:24:52 Legalized Falsifications
2:32:11 Legal Monopolies
2:48:11 Legal-Tender Laws
3:32:45 Legalized Suspensions of Payments
3:41:15 Paper Money
4:04:50 The Cultural and Spiritual Legacy of Fiat Inflation

Part 3: Monetary Order and Monetary Systems
4:34:45 Monetary Order
4:41:17 Fiat Monetary Systems in the Realm of the Nation-State
4:53:46 International Banking Systems, 1871–1971
5:14:30 International Paper-Money Systems, 1971–?

5:38:35 Conclusion

[MisguidedPolicyIsBurdensome]

It is a very common error.
The base status without money is NOT physical barter.
It is trust and social based credit. Your trade would be only with those you trusted or otherwise could influence. It is the ability to generally trust many people that enables these credit agreements to be formalized and standardized. These agreements do not necessarily have to be issued by governments especially when these govts are unable to create a money that is useful globally.

[rhanson]

You would probably get more views if you actually recorded yourself reading the book. Text readers are absolutely dull to listen to.