praxeology through price theory, lecture 5 with robert murphy - mises academy
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Mises AcademyAustrian Econ I:
Praxeology Through Price TheoryRobert P. Murphy
Spring 2011Lecture 5May 26
1st half Chapter 3
1. Direct vs. Indirect Exchange
II. Drawbacks of Direct ExchangeIII. Indirect Exchange the Solution
IV. Money and Its Origin A. Definition B. Marketability vs. Value V. The Unit of Money
I. Direct vs. Indirect Exchange
II. Drawbacks of Direct Exchange
II. Drawbacks (cont’d)
III. Indirect Exchange the Solution
IV. Money and Its Origin
A. Definition
Money is a
●medium of exchange
that is
●commonly accepted.
B. Marketability vs. Value
V. The Unit of Money
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