Why humans invented money | Niall Ferguson and Lex Fridman

Lex Fridman Podcast full episode: • Niall Ferguson: Histor...
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Niall Ferguson is a historian at Hoover Institution, Stanford University. He is the author of 16 books on the history of money, war, power, and catastrophe.
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[@nickj.7876]

Love these vids Lex! Hope you keep em coming, thanks!

[@sagarpat311]

Excellent, excellent clip. Thank you both!!!!

[@carlotonydaristotile7420]

I learned something new today. They had crypto long long ago in the form of paper.

[@hrsjohnny]

Clay tablets in the ancient mesopotamia :) this man is a legend!

[@submariner6g]

What is his aspect in inflation based on these particular beliefs? Interest.

[@sicknado]

"We addict to territory, this is war. Our turf. Our land. Before agriculture, nobody had land, land was something you walked around on with your herd. We all do this. We are addicted to caffeine, outrageous caffeine addictions. Money, sugar, praise...television. Now this is the favorite one to talk about because television is the forerunner of very insidious drugs to come. It's just the crudest and the first." - Terence McKenna

[@JIMIB1980]

Sounds like Terrance was predicting smartphone/social media addiction. 🍄

[@CodCats]

ancient 5,000 years ago? crazy how the universe is only 13b years old compared to how long it will live

[@Shiyounin]

There are punctuated equilibria...

[@claytontucker8179]

Also for made for a weight to value of product exchange making prices similar or equal. Instead of barter undoing with another having short end of stick lol

[@frankyu6984]

I knew a guy who used to just throw his coins in the trash because he hated them in his pocket.

[@godblessCL]

To pay politicians

[@StabDaRasher84]

Quasi money, owned by many.

[@babydragon2047]

Social leverage

[@xithepooh]

It's not that. Listen to what he says, it's just credit and debt. It has not directly associated with social leverage

[@babydragon2047]

@@xithepooh righto

[@jackwachtel-scott8000]

The reason money was invented is so that I can buy a bag of apples and not have to pay for it with half a dozen bagels.

[@J4ww44d]

Completely untrue

[@jackwachtel-scott8000]

@@J4ww44d If you had a sense of humor you might see the grain of truth in my comment.

[@robinhylands69]

@@jackwachtel-scott8000 Or seed of truth. Since we're talking about apples+, not just bagels.

[@jackwachtel-scott8000]

@@robinhylands69 Seeing as we are talking about "dough" I think grain is appropriate.

[@elise9537]

@@jackwachtel-scott8000 hugs. cute comment! sometimes ppl like him make me feel lonely in the world :)

[@NorthwestNicholas]

Cash is for boomers, Bitcoin is the future.

[@nicholasdoyle7715]

Money has one function: Make progress too expensive.

[@SmoothHov24]

Double coincidence of wants

[@vonBottorff]

How about _The Descent of Money_ since robots, computers don't use money, rather, electrons? He keeps saying "creditor and debtor." There won't be creditors and debtors when most everything is automated. Yes, automation will be owned by "capitalists" for the near term -- and they'll want to play creditor-debtor games. But eventually that will have to go away (as the 1% becomes the 0.01% and the rioting can't be quelled) and the automation will simply be producing in the background, i.e., stuff for free. What remains of a traditional economics might be the really limited, choice things like seaside real estate; but that will be more merit-based, since money will no longer be around. Lex! You keep scrounging up these Austrian Schoolers! Aaagh!