Fiat money
Fiat money is a currency (a medium of exchange) made as money, often by government laws. Fiat money does not have value. It has value only because a government gives its value, or because parties are taking part in exchange agree on its value.[1] It was used as an alternative to commodity money.[2]
Fiat Money Media
Song dynasty Jiaozi, the world's earliest paper money.
References
- ↑ Lua error in Module:Citation/CS1/Identifiers at line 630: attempt to index field 'known_free_doi_registrants_t' (a nil value).
- ↑ Walsh, Carl E. (2003). Monetary Theory and Policy. The MIT Press. ISBN 978-0-262-23231-9.
