“Fiat” is a Latin term meaning “let it be done” or “by decree,” and it refers to something established or authorized by an arbitrary command rather than inherent reason or natural law. In general usage, it often describes something imposed by authority, like “fiat currency,” which is money declared legal tender by a government without intrinsic value (e.g., not backed by gold). A “fiat law” extends this concept to legislation […] Read more »