🧾Why You Accept a Piece of Paper

Earliest cause at the top

1. 1

   The state names a currency and says taxes must be paid in it

   The tax bill exists before any of the money does
2. 2

   Everyone with a tax bill now needs to get some

   Even people the state never paid
3. 3

   Prices start being written in the currency

   It is now the unit of account, not only a way to pay
4. 4

   The state pays with the new currency, and that puts it into use

   It pays soldiers, suppliers and officials
5. 5

   Sellers accept it, because their customers need it too

   Now everyone wants it, not only taxpayers