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Denationalization of Money

By F.A. Hayek

Release : 2013-01-05

Genre : Economics, Books, Business & Personal Finance

Kind : ebook

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What if the government let anyone use a currency of his or her own choosing? What if the government permitted entrepreneurs to innovate in the monetary sector, such as by creating digital currencies or minting commodity money? This idea is precisely what F.A. Hayek argues for in The Denationalization of Money.

The argument is substantively similar to Mises’s. Rather than a gold standard, Hayek argues for completely abandoning government attempts to reform money. The result would be competitive private currencies that permit the market alone to choose the dominant currency the world over.

In many ways, this monograph is more radical than any monograph in the whole of the tradition of Austrian monetary theory. He just said it outright: Invent a new money, because government money is broken. Forget reform. Take the task into your own hands, right now.

Denationalization of Money

By F.A. Hayek

Release : 2013-01-05

Genre : Economics, Books, Business & Personal Finance

Kind : ebook

(0 ratings)
What if the government let anyone use a currency of his or her own choosing? What if the government permitted entrepreneurs to innovate in the monetary sector, such as by creating digital currencies or minting commodity money? This idea is precisely what F.A. Hayek argues for in The Denationalization of Money.

The argument is substantively similar to Mises’s. Rather than a gold standard, Hayek argues for completely abandoning government attempts to reform money. The result would be competitive private currencies that permit the market alone to choose the dominant currency the world over.

In many ways, this monograph is more radical than any monograph in the whole of the tradition of Austrian monetary theory. He just said it outright: Invent a new money, because government money is broken. Forget reform. Take the task into your own hands, right now.

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