By special arrangement with the Institute for Economic Affairs, the Mises Institute is pleased to offer a new printing of F.A. Hayek's most radical case for the complete privatization of money: The Denationalisation of Money. He wrote this near the end of his career, after thinking through all the economic arguments for monetary reform and examining the political viability of various proposals. He shows the essential unviability of government money, and calls for a complete free market in the production and distribution and management of money.
This book is the very core of the Hayekian approach to monetary policy, and the book that drew the world's attention to this radical thinker following his Nobel Prize in economics. The argument is substantively similar to Mises's but rather than a gold standard, Hayek argues for completely abandoning government attempts to reform money. The result would be competitive private currencies that permits the market alone to choose the dominant currency the world over.
In the digital age, his argument takes on new significance, as experimentation in digital currencies continues apace.
144 Pages, Paperback, 2009
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Friedrich August Hayek (1899-1992), recipient of the Medal of Freedom in 1991 and co-winner of the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and the principal proponent of libertarianism in the twentieth century. He taught at the University of London, the University of Chicago, and the University of Freiburg. His influence on the economic policies in capitalist countries has been profound, especially during the Reagan administration in the U.S. and the Thatcher government in the U.K.
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17 of 18 people found the following review helpful:
5.0 out of 5 stars
An essential read on Laissez-faire money,
By alockard@gmu.edu (George Mason University) - See all my reviews
This review is from: Denationalisation of Money: The Argument Refined (An Analysis of the Theory and Practice of Concurrent Currencies Series)) (Paperback)
Nobel laureate F. A. Hayek makes a powerful case that government involvement in providing a medium of exchange (money) is neither necessary nor beneficial. In fact, government provision of currency is a threat to both liberty and financial stability. Hayek points out that governments have everywhere and always undermined the value of their currencies to reap revenue through inflation. He argues, convincingly, that the best hope for sound money lies in competition amongst privately issued currencies. This is an essential read for anyone interested in Free Banking or Laissez-faire Money.
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