NOMISMA

discipline

規律 — Institutions

Settling in advance not to do what one could do.

Italy — The union, and paper / A chancellery in Florence
Italy The union, and paper / A chancellery in Florence

⚠ The mechanism for protecting a currency, in the final analysis, comes down to "whether the issuer can restrain itself." The gold standard and issuance limits were tools for making that restraint externally visible.