Money
Try paying for a roof in moonwalk lessons. That's the problem money solves. Sandy Klein on why barter fails and how gold became money.
Source: Mises Institute
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DW NOTE
The Mises Institute uploads a July 2025 lecture in July 2026 and dates it to the upload, not the recording. The result: a primer on monetary theory appears during a quarter in which gold fell 24.6% from its January high, oil lost a quarter of its value despite a supply shock removing 10–14 million barrels a day, and the Fed's preferred inflation gauge ran at 4.1% — double the target. None of which invalidates Menger. All of which makes the upload timing unfortunate.