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Chapter 7: Sound money and individual freedom
The author argues that the ability to create money funds large governments and wars without direct taxation, and that sound money would limit that power. He connects government money with the scale of 20th-century wars and with state influence over savings. These are political and historical arguments; readers should weigh them against other histories of the period.
Summary in our own words, not a quote from the book. The author's arguments, not investment advice. Book · Author's course
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Key ideas
- Money creation as a way to finance the state
- Sound money as a limit on power
- A political argument, open to debate
Check yourself
- How can money creation replace taxation, according to the author?
- What link does the chapter draw between money and war?
- What counter-arguments could a critic raise?