Understanding Economics - Lesson 4: Money & Banking (Part 3/6 Price Theory with 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/

Category:

News & Politics

Tags:

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

[zalida100]

Bugger!!! Sound disappeared around 17.55 in the video. At money fallacy 5

I was enjoying that too.

[Safnerism]

@zalida100 Oh no! That was one of my favorite fallacies; ah well. I put almost everything I said to refute the argument on the actual slide, but that is annoying :\ Damn powerpoint!

[trollwarlord3]

@Safnerism pls fix it!

[trollwarlord3]

17:55

[zalida100]

@Safnerism I think I'll probably sit and watch the last 5mins without sound. I'm currently watching the next part. You've done a very thorough job here I think. It's very enjoyable - Thanks V much.

Cheers