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The Denationalisation of Money is a 1976 book by Friedrich Hayek, in which the author advocated the establishment of competitively issued private moneys. [1] .
- Friedrich Hayek
- 1976
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’.
A model that trade-off the price for supply stability is proposed, and the comparative statics by varying several design features are studied to discuss the empirical implications for designing stablecoins by the private sector and Central Bank Digital Currency by the public sector.
Amid the inflation crisis of the 1970s, the Austrian School economist F. A. Hayek presented a radical proposal to solve inflation: the denationalization of currency and the introduction of competing cur-rencies into the monetary system.
Those who advocate the depoliticization of monetary policy through central bank independence, and the more radical denationalization of currencies through dollarization and monetary union, aim to bring that history to an end and quarantine money from the control of governments, permanently.
The Denationalization of Money, a book by NobelPrize–winning economist F.A. Hayek, suggests abolishing the government's monopoly over fiat currency.
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 60 years.
