> How is this different from money or the financial markets?
A big difference is that the sovereign requires you to pay taxes in a given currency at the threat of punishment. So long as everyone needs to pay the taxman, the currency that the tax man accepts is gonna have at least some value.
A big difference is that the sovereign requires you to pay taxes in a given currency at the threat of punishment. So long as everyone needs to pay the taxman, the currency that the tax man accepts is gonna have at least some value.