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Product Description
Product Description
In this groundbreaking work, first published in 1976, Friedrich von Hayek argues that the government monopoly of money must be abolished to stop recurring bouts of inflation and deflation. Abolition is also the cure for the more deep-seated disease of the recurring waves of depression and unemployment attributed to 'capitalism'.
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Customer Reviews
Most Helpful Customer Reviews
Format:Paperback|Amazon Verified Purchase
We are told, and it is demonstrated to us, that monopolies are bad and competition is good, benefiting us all. It was this amazing book which made me realise that our financial system is the biggest monopoly on earth and the primary reason we are in the mess we now find ourselves. "Quantative Easing" is the greatest curse on humanity as the treasures of this Planet are financialised and then their value decimated by this manipulation of monetary value. Allowing money to be provided by many companies, (instead of governments), competing against each other for our business would cease the practice of inflation immediately and bring a global stability to money supply we have never experienced in our history as a species. Buy it and see if you can get the concept out of your head . . . I can't!
Most Helpful Customer Reviews on Amazon.com (beta)
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19 of 20 people found the following review helpful
An essential read on Laissez-faire money
26 Feb 1999
Format: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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