In 1789, at the start of the French Revolution, a paper form of government bond was issued, which rapidly lost its value. Seven years later, the “assignat” had become virtually worthless. (Photo by ...

These cases of failed paper currencies—and there are many more—show that the general acceptance of currency ultimately requires shared values and social solidarity. Paper currency works when people ...

University of Birmingham provides funding as a founding partner of The Conversation UK. The confusion and commotion over cryptocurrency often reminds me of the 19th-century German drama Faust. In ...