Banknote: Difference between revisions
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'''Banknote''' is also known as a bill, paper money or fiat money. Banknote is a note issued by [[government]] or bank, which is licensed by authorities and broadly accepted by [[market]] participants. | '''Banknote''' is also known as a bill, paper money or fiat money. Banknote is a note issued by [[government]] or bank, which is licensed by authorities and broadly accepted by [[market]] participants. Banknotes are called fiat money, as they are not backed by any commodity, as it used to be during the gold standard. | ||
==History of a banknote== | ==History of a banknote== | ||
Revision as of 18:41, 3 April 2022
Banknote is also known as a bill, paper money or fiat money. Banknote is a note issued by government or bank, which is licensed by authorities and broadly accepted by market participants. Banknotes are called fiat money, as they are not backed by any commodity, as it used to be during the gold standard.
History of a banknote
Characteristics of a banknote
References
- Wray L. R. (2012), Introduction to an Alternative History of Money. Levy Economics Institute, working paper No 717.
- Solomon D. and Spurling T. (2014), The Plastic Banknote: From Concept to Reality. CSIRO Publishing, Australia, Collingswood.
- Lannoye V. (2015), The History of Money for Understanding Economics, Vincent Lannoye.
Author: Nikita Shtemenko
