Series IV · Card 7 of 21 · THE VIENNA SEMINAR
Money is not an invention of the state. It is not the product of a legislative act …
CARL MENGER · PRINCIPLES OF ECONOMICS · 1871
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Source
“Grundsätze der Volkswirthschaftslehre” (Principles of Economics, Vienna 1871), ch. VIII “Die Lehre vom Gelde”, § 1, footnote, p. 259
About the author
Austrian economist (1840–1921). Founder of the Austrian School and pioneer of marginal utility theory. His theory of the origins of money is still widely cited in discussions of Bitcoin.
The question on the back
How much did you choose for yourself what you pay with?