Home Entertainment Inflation Is a Sin–Guido Hülsmann

Inflation Is a Sin–Guido Hülsmann

by admin
Inflation Is a Sin–Guido Hülsmann

Jun 19, 2018

It would not occur to most of us to imagine that monetary has a
moral component. Catholic prelates are as silent about matters like
fiat money, central banking and inflation and as are the secular
ethicists. But the production of currency is not just a matter for
the technocrats, and the Catholic tradition once had something to
say on the topic. Economist Guido Hülsmann has combined the
moral-economic analysis of the scholastics, particularly the
14th-century bishop Nicholas Oresme (who wrote that debauching the
currency is worse than either usury or prostitution), with the
insights of the Austrian school of economics in order to formulate
an authentically Christian Ethics of Money Production for
the modern age.


Guido Hülsmann’s website http://www.guidohulsmann.com/

Jörg Guido Hülsmann, The Ethics of Money Production:
Buy https://amzn.to/2lifyQT
or read for free https://mises.org/library/ethics-money-production

Thomas’s series of articles on Prof. Hülsmann’s book https://www.catholicculture.org/commentary/articles.cfm?id=694

Read Nicholas Oresme’s of Moneta for free


3:13 Interview with Guido

Part 1: Money and Banking

3:51 Silence of Catholic social teaching on money production;
using scholastic tradition, esp. Nicole Oresme, as a source

5:38 What is the “Austrian school” of economics and why would
the Catholic mind find it compelling?

10:58 Competing definitions of money: commodity or sign?

14:54 Origin and evolution of banking; from simple money
warehousing to fractional reserve

21:00 Varying origins of fractional reserve banking in

25:10 Absence of legal and contractual clarity throughout the
history of fractional reserve banking; attempts by states to keep
banks from going bankrupt leading to the creation of central

See also  Rotten Tomatoes Review of Glass Onion: A Knives Out Mystery

Part 2: Inflation and Its Consequences

34:53 Three unprecedented modern developments: the abandonment
of precious metals, the imposition of fiat money, constant

40:19 The first economist was a scholastic: Bishop Oresme on
inflation and the debasement of coinage

48:56 Render to Caesar: does all money belong to the government?
Oresme says governments may not alter previously existing moneys
without the consent of the entire community

50:54 Inflation worse than usury and prostitution according to
Oresme; deceptive practices by governments

54:01 Similar economic consequences of debasement of coinage and
modern inflation: Enrichment of earliest recipients of new money at
the expense of latest recipients

57:54 A uniquely modern recurrence: the business cycle as a
result of fractional reserve banking

1:00:43 Central banks incentivizing commercial banks to
irresponsible behavior leading to the 2008 financial crisis

1:08:26 Cultural consequences of inflation: a debt-based
economy, borrowing and investment prioritized over saving,
materialism and short-term thinking

1:12:45 This week’s excerpts: Aristotle,
Jean-Baptiste Say, Etienne Gilson

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy