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Throughout the history of mankind, governments have selected what money is or has this arisen spontaneously through the selection of the people?

The history of money is a fascinating mix of both spontaneous emergence and government imposition—it’s not a clean either/or story. Early on, money arose organically through people’s choices. In ancient societies, folks bartered goods directly—say, trading grain for tools. But barter’s clunky; you need a "double coincidence of wants" (I have what you want, and you have what I want). So, people naturally started picking certain items as go-betweens—think shells, salt, or cattle. These weren’t decreed by some king; they emerged because they were useful, portable, and widely accepted.

Anthropologists call this "commodity money." The Sumerians, around 3000 BCE, used barley, and Pacific Islanders used cowrie shells—both picked by communities, not rulers.

Then metals—copper, silver, gold—came into play. Why? They’re durable, divisible, and scarce enough to hold value. By 700 BCE, Lydians in modern-day Turkey were minting coins from electrum (a gold-silver mix). This wasn’t pure top-down control; it built on what people already valued. But governments quickly saw the perk: stamp a coin with your face, and you’ve got a monopoly on trust. By the time Rome rolled around, emperors were churning out denarii, and debasing them (mixing in cheaper metals) to fund wars—classic state meddling.

Fast forward to medieval Europe, and you see both forces again. People used gold and silver coins, but monarchs standardized weights and measures—sometimes to help trade, sometimes to tax more efficiently. China’s an outlier: by the 7th century, the Tang dynasty issued paper money, fully a government creation. It worked until inflation hit, showing state-backed cash could flop without trust.
The modern era leans heavier on governments. The gold standard, where paper was tied to metal, still had roots in people’s preference for gold—but states se…