Fiat Money

Fiat money is a medium of exchange that derives its usage as such not from the voluntary value preference of individuals, but from aggression threatened by a government if it is not accepted in exchange transactions. A fiat money is thus called legal tender.

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• Community Activity

  • Kent Neal became a registered member September 3, 2010
  • Cory Shelton wrote a new blog post: Welcome to my new blog! September 3, 2010
  • Frederick Lawson wrote a new blog post: Whelan eager to make up for World Cup misery September 2, 2010
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• Recommended Books

  America's Great Depression

  The Anti-Capitalistic Mentality

  Atlas Shrugged

  Bureaucracy

  The Case Against the Fed

  Crash Proof

  Economics in One Lesson

  The Ethics of Liberty

  For a New Liberty

  The Fountainhead

  A History of Money and Banking in the United States

  Human Action

  Interventionism

  Liberalism

  The Little Book of Bull Moves in Bear Markets

  The Revolution: A Manifesto

  The Road Less Traveled, 25th Anniversary Edition : A New Psychology of Love, Traditional Values and Spiritual Growth

  Socialism

  The Theory of Money and Credit

  Universally Preferable Behaviour - A Rational Proof of Secular Ethics

  What Has Government Done to Our Money?

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