We are confronted by the appearance of social institutions unintentionally created, vital for the welfare of society, which are not the result of reasoned planning

Money is not an invention of the state. It is not the product of a legislative act. Even the sanction of political authority is not necessary for its existence. Certain commodities came to be money quite naturally, as the result of economic relationships that were independent of the power of the state.

Money is not an invention of the state. It is not the product of a legislative act.