Bezant Denier
Bitcoin, Austrian Economics & Monetary History

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Salt is boring. But it still gives us quite a good example of how a commodity can evolve and then devolve as money; this consequently helps us better understand some of the proper frameworks for studying money. Historically, salt was often used to prolong the lifespan of food products, and so functioned as a vital hedge against periods of hunger....

In his 'Fiat Money Inflation in France', Cornell University co-founder Andrew Dickson White has given a detailed, chronological account of the rise and fall of the assignat paper money experiment in Revolutionary France. This experiment is not to be confused with the monetary mismanagement caused by John Law less than a century prior. It should...