Home / Library / Paper Money Has Never Been Voluntary

Notable Quote

"Paper money has never been introduced through voluntary cooperation. In all known cases it has been introduced through coercion and compulsion, sometimes with the threat of the death penalty."

— Hülsmann, Jörg Guido event 2008

From The Ethics of Money Production

Context: On the historical origins of fiat currency — arguing that paper money is inherently a product of state force, never of free exchange

Topics

monetization_on Sound Money currency_exchange Monetary Theory trending_down Currency Debasement local_fire_department Inflation key Property Rights error Coercion