The grandaddy of all economic lies is known as the "barter myth". It sounds so innocuous. Yet it continues to do great damage.

At the core of mainstream academic economics, are economic models, known as "general equilibrium" models. At the very core of "general equilibrium" models lies the "barter myth".

This misleading myth prevents us from understanding the system we all participate in every day - the monetary system. This misleading myth has policy advisors whispering in the ears of our politicians, that "everyone gets the amount of money they deserve".

Meanwhile the "barter myth" is generally accepted as folk wisdom by the rest of us. It is one of those dangerous economic ideas that just wont die.

Anne & Kev speak with economist, Associate Adjunct Professor Steven Hail, and fellow economics student Danny Roberts, about the dangers of believing this myth, and about the true story of the origins of money.

Show Notes

Debt: The First 5,000 Years, by David Graeber (book)

Making Money: Coin, Currency, and the Coming of Capitalism, by Christine Desan (book)

‘Inflation, huh?’ Your ultimate dinner party survival guide to the economy, by Jessica Irvine (article, July 29, 2022)

How to write a Flintstones history of money, by Brett Scott (article)

My response to a myth of barter video, article by Jeff Epstein (host, Activist #MMT)

Theme Music

Pleading Ignorance, by Ed Kuepper, from the album Starstruck
 

Additional Audio

Too Many Things, by Ed Kuepper, from the album Starstruck

The Flintstones: Theme from the Classic Hanna-Barbera Cartoon Series (Instrumental) (Single)
℗ 2012 BSX Records
Released on: 2012-07-05
Composer: Hoyt Curtin