What would happen if central banks didn’t price and issue money? Listen to the CATOtonics to hear that markets should control the price of money. Cool. Spend the day bargaining for the value of your money. Why not print your own instead? Or, how about barter? We are headed there, not because the government intervenes and makes market worse, but because governments abdicate and let markets worsen. A market is not a fact of nature, not even of human nature. Markets are similar to baseball, poker, even monopoly. They are not like gravity or photosynthesis. Until this is widely understood, then supply and demand will continue to fail to explain, and we will flail for understanding