this post was submitted on 22 Sep 2023
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Work Reform

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A video explaining modern monetary theory and how with a little Marxism it can benefit everyone.

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[–] Bartsbigbugbag@lemmy.ml 3 points 1 year ago* (last edited 1 year ago)

Centralized, minted currencies definitely did not exist before states started using them. Minted currencies were invented multiple times independently across multiple cultures, but one of the biggest through lines between them is that they required a centralized state who held large reserves, and that they were, in every known case, used to support standing armies for those states.