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Money and Monetary Integration: The Growth of Cities and the Globalization of Trade

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Manage episode 196581185 series 1332693
Content provided by Mises Institute. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mises Institute or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
The next element in human development is that of money and the growth of cities and trade. Why is there division of labor and why is there money? Hoppe covers why people do not remain in self-sufficient isolation even when they could and even if everybody hated everybody else. As long as every person wants to have more rather than less, division of labor occurs. Human action itself tends toward social cooperation in aiming toward his own welfare. Sympathy is not the cause of division of labor. Uruk was the first large city about six thousand years ago, growing to around 80,000 people. Rome at its peak had a population of a million. Cities, merchants and money create civilizations. Money puts the most marketable good in the hands of people who trade, eliminating the double coincidence of wants that was required in barter economies. A money is simply the common medium of exchange. Additionally, money permits us to engage in cross accounting. We can now determine whether we make profits or losses. Lecture 3 of 10 from Hans-Hermann Hoppe's Economy, Society, and History. Recorded May 31-June 4, 2004, at the Mises Institute in Auburn, Alabama.
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5246 episodes

Artwork
iconShare
 
Manage episode 196581185 series 1332693
Content provided by Mises Institute. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mises Institute or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
The next element in human development is that of money and the growth of cities and trade. Why is there division of labor and why is there money? Hoppe covers why people do not remain in self-sufficient isolation even when they could and even if everybody hated everybody else. As long as every person wants to have more rather than less, division of labor occurs. Human action itself tends toward social cooperation in aiming toward his own welfare. Sympathy is not the cause of division of labor. Uruk was the first large city about six thousand years ago, growing to around 80,000 people. Rome at its peak had a population of a million. Cities, merchants and money create civilizations. Money puts the most marketable good in the hands of people who trade, eliminating the double coincidence of wants that was required in barter economies. A money is simply the common medium of exchange. Additionally, money permits us to engage in cross accounting. We can now determine whether we make profits or losses. Lecture 3 of 10 from Hans-Hermann Hoppe's Economy, Society, and History. Recorded May 31-June 4, 2004, at the Mises Institute in Auburn, Alabama.
  continue reading

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