Uploaded January 2021 | Updated September 2026, 2 weeks ago

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Money is an often misunderstood subject, especially because there are so many accidental things which grow up around it that are common and often mistaken for its substance. In this video I look at the history of how money develops as a medium for intermediating barter between people where only one person has something the other wants and how that develops into the sorts of monetary systems we have now. This also leads to what properties are essential to money and which are merely accidental, as well as what conditions are necessary for money to work and what conditions destroy money's utility.