Philipp Bagus Debates Franz Hörmann on Money

In this audio debate, Philipp Bagus, author of The Tragedy of the Euro, debates Franz Hörmann. Here is
an interview with Hörmann to provide some additional context.

The debate is in German, but Dr. Bagus provided a summary of the debate for us in English:

I explained why competition is good and leads to better and cheaper products; why interest is inherent to human action; why, without prices, economic calculation is impossible; why the market is the best instrument to reduce scarcity and a means of cooperation; why our monetary system is socialist, etc.

Hoermann believes that scarcity is artificially induced by companies, and he thinks that everyone should do what he likes to do and the product of their labors can be transferred to other people who want it. Scarcity would end. No money for exchanges, interest, or prices is needed. He believes that the technology exists now to create the end of scarcity.

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