The Cultural Upheaval of Loose Money | Jeffrey A. TuckerYouTube
May. 06, 2010
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This is my second favorite video I've seen of Jeffery Tucker who runs the Mises Institute, in this video he explains what money is, its history and its significance. He also talks about what happens when money 'no longer makes the world go round' because its value collapses. He talks of the Weimar republic and how while the government was running the printing press the economy was booming and price inflation was just a few percent a year, at the time no one really noticed it was a problem. Yet overnight basically the people realized their money was worthless and their currency suffered hyperinflation, their country collapsed, and next up they're under Hitler and invading sovereign nations for the glory of the fatherland. This video is extremely enlightening (and terrifying). - Chris
Presented by Jeffrey Tucker at "The Inflationary Path to Despotism," the Mises Circle in Phoenix, Arizona, 10 April 2010. Sponsored by James M. Rodney. Includes an introduction by Douglas E. French.