We just passed the largest stimulus bill in American history by a long shot. And while people may celebrate their $1,200 check or complain about the pending bailouts, I think it’s important to get to the basics of money and why government spending is an issue.
“The Keynesian prescription for unemployment rests on the persistence of a ‘money illusion’ among workers, i.e., on the belief that while, through unions and government, they will keep money wage rates from falling, they will also accept a fall in real wage rates via higher prices.”
–Murray Rothbard
Here are the topics we’ll cover today:
- What is money?
- Federal Reserve
- Fractional reserve banking
- Interest rate control
- Government influence on money
- Inflation
- Mis-signaling the market
What is money?
Money is a commodity like any other. The difference is that the purpose of money is to be a means of exchange. It is a good that is highly exchangeable and fractionable to make buying and selling easy.
Join the Conversation of Our Generation!!!
SUBSCRIBE to The Conversation of Our Generation’s Podcast now on iTunes!!
Subscribe to our email list for our Recommended Reading, reviews on books and other content that can grow your store of knowledge. New products will be coming soon, exclusively for subscribers.
If you would like to join me in the Conversation of Our Generation, follow me on Twitter @ConOfOurGen, Facebook Conversation of Our Generation Facebook Page and SteemIt @jamell
Also, you can find me on YouTube Conversation of Our Generation YouTube Channel.
Want to learn more, but don’t know what to read? Check out my Amazon Affiliate Page, and use those links to shop for books to help you learn and grow!
I am just trying to join the Conversation of Our Generation. Let’s get the dialogue going with comments, shares, questions- just say something!
