Electronic Resource
Oxford, UK
:
Blackwell Publishing Ltd
Economic affairs
6 (1986), S. 0
ISSN:
1468-0270
Source:
Blackwell Publishing Journal Backfiles 1879-2005
Topics:
Economics
Notes:
The power of governments to debauch currencies for political ends has long been condemned by market economists. Monetarists have argued that the government should restrain its production of money; Professor Hayek contended in 1976 that monetary continence would succumb to political pressures and argued for national currencies to be replaced by competing private monies. Here he refines this thinking and suggests that a private ‘store of value’—the standard—would be more likely to overcome the political obstruction to the wholesale denationalisation of currencies, but would be immune from use as a political tool by the state.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1111/j.1468-0270.1986.tb01752.x
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