The Cultural Consequences of Fiat Money [video lecture] J.G. Hülsmann
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The Cultural Consequences of Fiat Money [video lecture] J.G. Hülsmann
A fascinating video lecture by leading economist, J.G. Hülsmann which offers the thesis that the deeper substrate of neoliberal policy necessitates an examination of the link between economics>political economy>politics>social policy>cultural expression and behaviour. My own take-away from this lecture is that too often we get hung up on politics per se and the decisions made in the name of Politics. This examination of the substrate via an economic analysis offers the motivations, or the why of political choices, as opposed to simply examining the political decisions themselves or even the political decision-making process itself.

Here Hülsmann gives a good historical comparative overview of the era before Western governments' reliance upon fiat money. In essence, the creation of fiat money is rather at the root of some of our major cultural ills of today, from the astronomical defense spending in the USA, to our society's increased materialism and anciliary services (and by extension, increased dependence on immigration), to increased disingenuous philantropy.

It's about an hour long but well worth an attentive watch for a good perspective from an economics point of view of the cultural/societal ills that plague us today. If you can get through the drier parts (in the middle) I promise that he makes the necessary links by the last 10 minutes.

~Be the Virtuous Man or Woman you are meant to be.~
2015 Mar 21 22:11
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