Studying Jörg Guido Hülsmann's latest book, The Ethics of Money Production, is a vastly enriching experience. After building his case for natural money on the inviolability of an individual's right to his own property, he then shows us how the state has spent the last 400 years usurping this right for the benefit of a privileged few through its protection of fractional-reserve banking, writes George F. Smith.

This audio Mises Daily is narrated by Floy Lilley.