Fiat money/Definition: Difference between revisions

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imported>Nick Gardner
(New page: <noinclude>{{Subpages}}</noinclude> money whose value is determined solely by government order, or "fiat" (as distinct from commodity money that has value because of its scarcity).)
 
imported>Nick Gardner
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money whose value is determined solely by government order, or "fiat" (as distinct from commodity money that has value because of its scarcity).
money whose value is determined solely by government order, or "fiat" (as distinct from commodity money that has value because of its scarcity or cost of production).

Latest revision as of 08:24, 30 November 2008

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Fiat money [r]: money whose value is determined solely by government order, or "fiat" (as distinct from commodity money that has value because of its scarcity or cost of production).