Home / Library / Money as Spontaneous Order

Notable Quote

"Money has not been generated by law. In its origin it is a social, and not a state institution. Sanction by the authority of the state is a notion alien to it."

— Menger, Carl

From On the Origin of Money

Context: On how money emerged naturally through voluntary exchange, not by government decree

Topics

currency_exchange Monetary Theory hub Spontaneous Order monetization_on Sound Money menu_book Austrian Economics