Macro Musings with David Beckworth cover image

Bryan Cutsinger and Louis Rouanet on the Politics and Dynamics of Hyperinflation in Revolutionary France

Macro Musings with David Beckworth

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The ASEAN's Case Study of Money

By 1792 and the Jacobins, the ASEANs were already used as money fairly widely. I'm not exactly sure they intended to create a money. And it strikes me at least that the ASEan's tend to support the state theory more. But maybe I'm wrong. What I do think it illustrates those, you know, fiat money has this sort of final period problem: Who is going to be willing to buy U.S. currency?

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