Money, Banking, & Public Finance – Intro to Political Economy


Introduction to Political Economy is a self-contained and nontechnical overview of the intellectual history of political economy, the logic of microeconomics, and the definitions used in macroeconomics. It introduces the notion of a political economy, emphasizing the moral and ethical problems that markets solve, and fail to solve. This lecture is taught by Richard Salsman, PhD.


  1. Money – functions & forms; metal, paper, plastic and bits; market-based versus fiat-based
  2. Banking financial intermediation types; depository, commercial, investment free banking versus central banking
  3. Public Finance funding of government spending taxing, borrowing and money-creation deficits, debts and unfunded entitlements fiscal rectitude versus fiscal profligacy