Denationalisation of Money
The Argument Refined: An Analysis of the
Theory & Practice of Concurrent Currencies

By F.A. Hayek
June 1990
Institute of Economic Affairs
ISBN: 0-255-36239-0
144 p.
$26.50 Paper Original


The government monopoly of money must be abolished to stop the recurring bouts of acute inflation and deflation that have become accentuated during the last 70 years. Abolition is also the cure for the mroe deep seated disease of teh recurring waves of depression and unemployment attributed to 'capitalism'.

The monopoly of money by government has relieved it of the need to keep its expenditure within its revenue and has thus precipitated the spectacular increase in government expenditure over the last 40 years. Abolition of the monopoly of money would make it increasingly impossible for government to restrict the international movement of men, money and capital that safeguard the ability of dissidents to escape oppression.


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