Understanding Economics - Lesson 4: Money & Banking (Part 2/6 The Functions of Money)

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Common sense economic lessons for the interested layman. How a free market economy works, from an Austrian School perspective.
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Lesson Four: Money & Banking

An overview of money and the financial system. A discussion of how money emerges out of an intersubjective consensus to solve the various problems associated with barter; the functions and utility of using money; how prices are determined with money; determining the value of money itself; a discussion of the various types and functions of banking; ending with a discussion of the current system of fractional reserve banking and its effects on an economy. Interspersed throughout the lesson are refutations of 7 major monetary fallacies most often committed that if left unchecked, lead to devastating misunderstandings and misuses of economics.

Part 1 - The Emergence of Money: http://www.youtube.com/watch?v=RZvYDBsBuSc
Part 2 - The Functions of Money: http://www.youtube.com/watch?v=kIzSFSpJEmA
Part 3 - Price Theory with Money: http://www.youtube.com/watch?v=kQmsmZlWjIY
Part 4 - The Money Relation: http://www.youtube.com/watch?v=_xlYHfbgyG0
Part 5 - Intro to Banking: http://www.youtube.com/watch?v=jQ5zrzzy5kw
Part 6 - Fractional Reserve Banking: http://www.youtube.com/watch?v=OWVuOEHw7xs

View All Lessons: http://www.youtube.com/view_play_list?p=8F83C5C589FEB5FD
Website: http://ryansafner.com/understanding-economics/

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• money
• banking
• economics
• Austrian
• free
• market
• prices
• fractional reserve
• inflation
• deflation
• emergence
• gold
• silver
• fiat
• currency