Re: von Mises and Money

[mosler@xxxxxxxx]

(snip)>
>George Selgin has a paper in the Nov(?) 1995 JMCB in which he uses
>Mises's regression theorem to argue that you can't launch a fiat
>currency without first tying it, somehow, to a commodity value.  He
>trots out an impressive list of cases.  I'm can't decide if I
>think George is right or wrong on this one.  But at the very
>least, his paper shows that there is life in the old theorem yet.
>
>Roger
>
>----------------------------------------------------------------------
>Roger Koppl
>Associate Professor
>Economics and Finance
>Fairleigh Dickinson University
>Madison, NJ 07940
>USA
>
>Internet: Koppl@xxxxxxxxxxxxxxx
>Phone:  (201) 443-8846
>Fax: (201) 443-8804
>----------------------------------------------------------------------
>
Is there anything in the pk literature that
recognizes taxes as the driver of a
fiat currency?  The government is the monopoly
issuer.  Therefore cannot tax liabilities only be met
after the government first spends, or otherwise
provides, its fiat currency?


>
>
Warren B. Mosler
Director of Economic Analysis
III Finance

See "Soft Currency Economics:"

http://inca.gate.net/~mosler/softecon.html