Short history of money from barter to modern fiat currencies and “plastic” money.
- Power of the ability to print money, which is currently dominated by state monopolies. I was writing about this in one of my blog posts: Thoughts on Decentralization of Money 1.
- Hyperinflation benefits debtors, provided that the debt is in the hyper-inflated currency.
- Wizard of Oz was not only a children’s novel, but also a political satire about changes in monetary politics. Dorothy represents American people, scarecrow represent farmers, tin man factory workers and lion represents cowardly William Jennings Brya.
Personal score: 6/10