Why does money have value?

• FatHobbit

  

  Manhattan Buckeye;1618742 wrote:the value is in the government backing it up.

  How exactly does the government back it up? What do they do?
• Manhattan Buckeye

  FatHobbit;1619649 wrote:How exactly does the government back it up? What do they do?

  accept it as legal tender for public charges and debts (coinage act). As such American businesses also accept it. Private businesses don't have to accept paper dollar/coins, but the credit cards utilized for transactions are still based off of the dollar.