Production in a modern economy originates and occurs only after the issuance of currency.
Would you say that this is an accurate description? I beg of you to forgive my economic ignorance if I've totally missed it with this question--economics is my side hobby after political science, philosophy, and theology, so I haven't had the time I've wanted to devote to it.
I believe you will get more answers if you unpack the first sentence.
What do you mean by that? That production would not happen if we had no fiat currency? Or that all production happens only after the order is placed AND the price is paid by the customer?
Yes, what I mean to say is that the cycle must begin with the issuance of fiat currency before production can take place (in a modern economy anyway).
If this is true, it's completely ass backwards and might explain some of our problems. For example, do you need a fiat currency to start a garden in your backyard?
Money made possible a much expanded division of labor, but I'm not sure why you think that this money has to be issued by government.
That would depend if you're going to utilize just what nature gives you, or if you're going to buy seed, soil, a watering system, etc etc.
Edit: I don't think it has to be issued by the government. Obviously people could revert to gold or silver, or other currencies, but I don't think that's happening on a large enough scale to even land on the radar. I could be wrong, though.
I would suggest looking up Mises's regression theorem.
MrSchnapps: Production in a modern economy originates and occurs only after the issuance of currency.
My first thought was to write: "Main function of money is the medium of exchange and it was adopted to facilitate trade and replace an enefficient barter system. So your statement is not true". But the key word is modern economy . Anyway, I tend to think thay production is primary thing in the economy and currency is nothing more than medium of exchange. If all of sudden money disappeared it would probably stop production for a period of time required to establish new currency. But I completely disagree that money comes first and only after that production. At least, you' ve got to produce something and exchange it for money.