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backing theory

Digital Money, Economic History, Fiat Money

Backing, Shmacking

George Selgin/March 4, 2015June 19, 2022

I really ought to know better by now than to complain about the "backing" theory of money–the view that the value of, not just some sorts of money, but money of any sort, depends on the assets commanded by the money's suppliers. I've never been able to…

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