Episode
Cantillon Effects and the Politics of Money Creation
- Podcast
- The Human Action Podcast
- Published
- Apr 2, 2026
- Processing state
not_requested
Actions
POST https://stenobird.com/v1/public/podcasts/the-human-action-podcast-1569402/episodes/cantillon-effects-and-the-politics-of-money-creation/transcription-requests
Idempotently request low-priority transcript generation for this episode.GET https://stenobird.com/podcast/the-human-action-podcast-1569402/cantillon-effects-and-the-politics-of-money-creation.md
Read the agent-friendly Markdown representation of this episode resource.
Summary
This week, Bob explains Cantillon effects: the insight that new money doesn't raise all prices equally or simultaneously, but flows through the economy in a sequence that benefits early recipients at the expense of everyone else. Then, he shows why this phenomenon is the foundation on which the entire Austrian theory of the business cycle is built. Related: Richard Cantillon, An Essay on Economic Theory: Mises.org/HAP544a The Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree