Hans-Hermann Hoppe on Money and Economic Theory

„Economic theory has nothing to say as to what commodity will acquire the status of money. Historically, it happened to be gold. But if the physical makeup of our world would have been different or is to become different from what it is now, some other commodity would have become or might become money. The market will decide.“

Prof. Hans-Hermann HoppeHans-Hermann Hoppe explains how the market decides which commodity becomes money, historically mostly gold.
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Prof. Hans Hermann Hoppe is a libertarian philosopher and economist known for his works on political philosophy and anarcho-capitalism.

A philosophical reflection by Hans-Hermann Hoppe on the origin and definition of money from an economic theory perspective.


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Hans-Hermann Hoppe quote about money and economic theory

Hans Hermann Hoppe is a German-American philosopher and economist recognized for his libertarian and anarcho-capitalist theories. He has published numerous books and articles and is professor emeritus at the University of Nevada, Las Vegas. His works primarily focus on freedom, property, and the state.

Murray Rothbard quote about gold as the monetary standardCopyright © yoice.net – Quote Artwork
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"Gold was not selected arbitrarily by governments to be the monetary standard. Gold had developed for many centuries on the free market as the best money; as the commodity providing the most stable and desirable monetary medium." Murray Rothbard
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Murray Rothbard quote about gold as the best moneyCopyright © yoice.net – Quote Artwork
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"It is particularly odd that economists who profess to be champions of a free-market economy, should go to such twists and turns to avoid facing the plain fact: that gold, that scarce and valuable market-produced metal, has always been, and will continue to be, by far the best money for human society." Murray Rothbard
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Murray Rothbard quote about money, scarcity, and the effects of increasing the money supplyCopyright © yoice.net – Quote Artwork
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"Money is different from all other commodities: other things being equal, more shoes, or more discoveries of oil or copper benefit society, since they help alleviate natural scarcity. But once a commodity is established as a money on the market, no more money at all is needed. Since the only use of money is for exchange and reckoning, more dollars or pounds or marks in circulation cannot confer a social benefit: they will simply dilute the exchange value of every existing dollar or pound or mark." Murray Rothbard
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