What is fiat money? How does it come into existence, and what are some of its fundamental pitfalls in practice? In basic terms, fiat money refers to a system of currency that is not a commodity, nor can it be exchanged for a commodity…

The benefit principle is a concept that has been proposed as a system by which taxation rates are calculated according to the value of the benefits received by the taxpayer from the government. In theory, such a principle would seemingly serve to provide the…