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1. Hallå Kitteh (clacke@social.heldscal.la)'s status on Monday, 13-Nov-2017 04:48:21 UTC Hallå Kitteh
   @dtluna I read http://wiki.mises.org/wiki/Regression_theorem and it makes sense, but it doesn't have to be the sole explanation for why money has value. In fact, any single and definite explanation is likely to be wrong.
   
   The monopoly on force not beating you up has a pretty high value, they put a price tag on it that is probably lower than that value, and they require you to pay it in their currency. This is an excellent source of demand, and it is regulated based on your actual available resources and everybody else's, as a share of the economy. I don't see how that couldn't give it a pretty stable value unless you happen to be the world reserve currency, or you mess up by providing ridiculous supply -- then other factors become dominant.
   
   This guy is not the first guy to mention the idea that taxation creates value in money even without general legal tender laws, and just because it's not part of Mises's one explanation for the value of money doesn't mean it doesn't have a basis in reality.