12∞ · Question 10.1.3
Why does a piece of paper or a number on a screen have value?
Because a government declares it valid for taxes and debts, and because everyone expects everyone else to honor it.
From the book 12∞ Twelve to Infinity by D.R. Davenport. The full answer is free to read with an iBelieve account.
Where it sits in the book
- Part
- 10: Money, Energy, Work, and Abundance
- Gate
- 10.1: What Money Is
- In print
- Page 324
- ← 10.1.2 · What is the difference between price and value?
- 10.1.4 → · What is credit?
- All of Part 10
Topics
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