In his part, I explore the paradox between Mises’s regression theorem and proto-money.
While many Austrian economists disagree on various topics regarding the origin of money, the most notable and agreed-upon theory on the origin of money is Menger’s theory of salability.
So why do you need money in the first place, and how is money chosen in the market?
Just like any other good that arises in the free market, Money emerges because the market has a problem and needs something to solve that problem (satisfy a need).
An Introduction to Austrian Economics | Satoshi Baggins