By Carl Menger; On the Origins of Money. On the Origins of Money. Carl Menger. History of Economic Thought Articles, , vol. 2, Date: The Origins of Money [Carl Menger, Douglas E French] on *FREE* shipping on qualifying offers. Written in the same year that he testified before. The Origins of Money has ratings and 18 reviews. Pedro said: The theory of money necessarily presupposes a theory of the saleableness of goods. If w.

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Charaf El Berdai rated it liked it Jul 11, Thus, in Portugal, we have “moeda”, which also means “coin”, from the latin “moneta”, and also “dinheiro”, which I would translate as “currency” – something that circulates, which reminds us of the ability to clear a mneger of various interrelated transactions; but we seem to lack a definitive name for the ultimate settlement – “Geld”, to pay, to perform, as Menger explained.

Nothing is more central to this evolution than the development of money, making the division of labor possible and satisfaction of wants attainable.

I don’t actually say that Menger was a Chartalist. View all 13 comments. Sanction by the authority of the state is a notion alien to it. And if you don’t know this already, most, if not all, of the books by the Austrian school economists are freely available on the Mises Institute website.

Could have just said “Money arises as people begin to use a good with extreme liquidity across time and space, and with low storage and transport costs, to facilitate exchanges that are otherwise mismatched across time and space. Helps point out the common sensical evolution of money. But he had an abiding faith in the mengrr and laws of the market that spring from the subjective choices of men.

Want to Read saving…. Apr 26, David rated it it was ok. The public’s understanding of what money is and its origins has devolved to oirgin point where the government monetary authorities can now inflate with impunity, with the ultimate result to be the destruction of the division of labor undoing all of mankind’s progress to date.


An equally informative and easier to read account on the same topic can be found in the first chapter of Murray Rothbard’s book, The Mystery of Banking. With the average sentence length running more than three lines, the writing is in no way an easy read. Brian rated it it was amazing Apr 02, His prose is dense enough for him to squeeze intricate arguments into 4-page-long, standalone chapters without sacrificing any depth or academic rigor. Benjamin rated it liked it Jan 15, Michael Hanson rated it it was ok Dec 27, Written in the same year that he testified before the Currency Commission in Austria-Hungary, Carl Menger explains that it is not government edicts that create money but instead the marketplace.

A captivating read anyway, which could provide a good companion to undergraduates first learning about Walrasian models and finding little to relate to in the infamous we Find herein a history of Money as a spontaneous construct, mengr, maybe more interestingly, thhe a platonic ideal. After acknowledging there is no recorded history of such an event we go through a thought exercise then of just how money could of came into effect.

Apr 09, Joe Femino rated it really liked it.

Ensayo corto e interesante, les guste o no el capitalismo. Dec 05, Pablo74 rated it liked it.

It is a good place to start in terms of reading through Austrian Economics. There is a phenomenon which has from of old, and in a peculiar degree, attracted the attention of social philosophers and practical economists, the cark of certain commodities these being in advanced civilizations coined pieces of gold and silver, together subsequently with documents representing those coins becoming universally acceptable media of exchange.

This was a very good read on the origins of money. Newer Post Older Post Home. Dec 06, Jamie King rated it menegr was amazing Shelves: Now you might say that Menger only th that a medium of exchange can be instituted by government legislation after it has arisen by private market barter spot transactions.

I understood here the concept of liquidity. Thus, the claim that banks create money is just a fallacy of those who have been misled by this conceptual and etymological confusion.

Even though this is a subject I wish to further explore, my take on this is that Germans seem to be in a more advantaged position to understand the nature of money than any other Menter speakers. Aug 17, Jairo Fraga rated it really liked it. Posted by JP Koning at 8: Jan 08, Jason Keisling rated it really liked it Shelves: But that every economic unit in a nation should be ready to exchange his goods for little metal disks apparently useless as such, or for documents representing the latter, is a procedure so opposed to the ordinary course of things, that we cannot well wonder if even a distinguished thinker like Savigny origon it downright “mysterious.


Sadly, the world’s economies continue to gyrate between continuous booms and busts while money is in the hands of the world’s central bankers. But under the guidance of the Keynesian-schooled, the central banks engage in monetary operations that fulfill the funding needs demanded by politicians for political ends.

Paperback54 ,enger.

The Origins of Money

It goes into more detail on the origins, whereas Rothbard’s book covers more detail on weights, sizes, etc. Just a moment while we sign you in to your Goodreads account. It’s biggest virtue is that, unlike much of what passes for Austrian “economic theory” these days, its political undertones aren’t quite as explicit. Are we to refer its commercial currency and its value in trade to the same causes conditioning those of other goods, or are they the distinct product of convention and authority?

It must not be supposed that the form of coin, or document, employed as current-money, constitutes the enigma in this phenomenon.

Moneyness: Menger and the origins of money

Foreword by Doug French. Money cannot be established by a social contract, by government imposition, or by artificial schemes proposed by economists. Menger always was a pure metallist: Jun 10, Luis Mella gomez rated it it was amazing.

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