What is the difference between commodity money and fiat money? Which kind do we use?
While somewhat counterintuitive, a monetary system using fiat money is certainly feasible and is, in fact, used by most countries today. The adoption of fiat currency by many countries, from the 18th century onwards, made much larger variations in the supply of money possible. The hyperinflation in the Weimar Republic of Germany is a notable […]
What is the difference between commodity money and fiat money? Which kind do we use? Read More »