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Why does money have value?

Home ▸ Archive ▸ Politics ▸ Why does money have value?
FatHobbit's avatar

FatHobbit

Senior Member

8,651 posts
May 26, 2014 3:44 AM
Manhattan Buckeye;1618742 wrote:the value is in the government backing it up.
How exactly does the government back it up? What do they do?
May 25, 2014 11:44pm
M

Manhattan Buckeye

Senior Member

7,566 posts
May 26, 2014 7:15 AM
FatHobbit;1619649 wrote:How exactly does the government back it up? What do they do?
accept it as legal tender for public charges and debts (coinage act). As such American businesses also accept it. Private businesses don't have to accept paper dollar/coins, but the credit cards utilized for transactions are still based off of the dollar.
May 26, 2014 3:15am