Abstract
Friedrich August von Hayek’s work Denationalisation of Money, written in 1976, which called for the abolition of the government’s monopoly of the issue of money and the introduction of comprehensive currency competition, triggered a far-reaching and controversial debate on the role of the government in the monetary system. In the course of this debate, even Milton Friedman — a vehement advocate of capitalism and unfaltering opponent of government intervention in general, and of discretionary, inflationary monetary policy in particular — was forced on to the defensive.
The author wishes to thank Klaus Masuch for his assistance in the preparation of this chapter.
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References
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© 1997 Palgrave Macmillan, a division of Macmillan Publishers Limited
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Issing, O., Brittan, S. (1997). Hayek’s Suggestion for Currency Competition: A Central Banker’s View. In: Frowen, S.F. (eds) Hayek: Economist and Social Philosopher. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-25991-5_8
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DOI: https://doi.org/10.1007/978-1-349-25991-5_8
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