MMT Is Wrong about the History of the Origins of Money

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MMT Is Wrong about the History of the Origins of Money

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Proponents of Modern Monetary Theory (MMT) think that money is a “creature of the state.” They say that money is whatever the state says it is, and that this is instituted primarily through taxation. For them, money is “that which [the state] accepts at public pay offices (mainly, in…

This story appeared on mises.org, 2025-05-07 14:02:23.