Question 25 / 96:
Explain what economist Friedrich Hayek meant when he used theterm "spontaneous order" in reference to the origin of money.
Hayek meant that nobody planned the creation of money; it just
happened naturally as the outgrowth of individuals trying to better
themselves. Even so, money is a very useful institution that allows
modern economies to work.
Sample Partial Credit Answer
Hayek meant that nobody invented money
