About this episode
The euro, Europe’s single currency, has an economic argument in its favor: It makes sense for people who are closely interconnected through the division of labor and who trade extensively with each other to calculate and conduct business in the same money. This approach is much simpler, less costly, and more transparent—compared to a situation where many different currencies are in use simultaneously. From this perspective, many people might be willing to approve the fact that 11 European states merged their currencies into a single currency, the euro, on January 1, 1999. Yet at the same time, it was precisely through this decision that political forces managed to achieve a thoroughly sinister goal: namely, to eliminate currency competition in Europe, to force a monopoly on money production into the hands of a supranational institution—the European Central Bank (ECB)—and to impose a single currency on the people —from which there is virtually no escape anymore, a money that has glaring economic and ethical defects. Recorded on February 2, 2026.
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| Immanuel Kant (1724–1804)
