Chartalism

In macroeconomics, chartalism is a heterodox theory of money that argues that money originated historically with states' attempts to direct economic activity rather than as a spontaneous solution to the problems with barter or as a means with which to tokenize debt,[1] and that fiat currency has value in exchange because of sovereign power to levy taxes on economic activity payable in the currency they issue.

  1. ^ Graeber, David (12 July 2011). Debt: The First 5000 Years. ISBN 978-1-933633-86-2.