What do gold, salt, and seashells have in common? In this episode of Johan Norberg’s New and Improved, Norberg details the rich history and exciting future of money.
Money is durable, portable, and easily exchanged, enabling a doctor to buy food without having to find a new patient each time he wishes to trade for food. Money facilitates the trust, trade, and growth that drive the modern world.
The history of money is one of overcoming problems. Coins solved problems of standardization and durability. Paper money solved problems of portability and convenience. Today we face the regular threat of inflation. Will continued innovation provide a solution?