How did governments create a monopoly on money?
Basically just the title. Maybe there were historically some benefits to using government money, but I doubt that if there were a free market for different currencies, government money would be almost universally used, especially considering the inflation governments cause. Or maybe I’m just ignorant and there’s some reason why government-run currencies are much more desirable than alternatives for most people. At first, I thought that it’s probably more likely that, like many other things, governments used force to create this monopoly. But I don’t see how this can be the case. There’s nothing to stop you from using other forms of payment (aside from some minor opposition to anonymous currencies, like Bitcoin). So my question is, did government currencies become universally used because they were better (more trustworthy, reliable, etc.), or because government used force to create a monopoly? submitted by /u/throwaway0x56 [link] [comments]
Article from r/Libertarian: For a Free Society
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