TY  - CHAP
AB  - Abstract What role does government play in determining the medium of exchange? Economists weighing in on the issue have typically espoused one of two views. State theorists credit government with the emergence and continued acceptance of commonly accepted media of exchange. In contrast, spontaneous order theorists find little need for government, maintaining that money emerges and continues to circulate as a result of a decentralized market process. History suggests a more subtle theory is required. We provide a generalized theory of the emergence and perpetuation of money, informed by both approaches and consistent with recent theoretical and empirical advances in the literature.
VL  - 18
SN  - 978-1-78441-102-2/1529-2134
DO  - 10.1108/S1529-213420140000018008
UR  - https://doi.org/10.1108/S1529-213420140000018008
AU  - Salter Alexander W.
AU  - Luther William J.
PY  - 2014
Y1  - 2014/01/01
TI  - Synthesizing State and Spontaneous Order Theories of Money
T2  - Entangled Political Economy
T3  - Advances in Austrian Economics
PB  - Emerald Group Publishing Limited
SP  - 161
EP  - 178
Y2  - 2024/04/19
ER  -