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Posts Tagged: “paper money“
June 2, 2024
・Guest Commentaries
Why People Value Worthless Paper Money
Fiat money is intrinsically worthless and yet people still value it. Where does this value come from? Our guest commentator cites Austrian thinkers Menger and Mises. He traces the purchasing power of paper money back its historical root: real money, i.e. physical gold.
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