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Table Of Contents

The appearance ofpaper money
Early Middle Ages' deflation local or temporary
Parallel currencies
Trade coins
The private Swiss 'ducat'
Constant but not fixed value
Control ofvalue by competition
Effects ofcompetition
Three questions
x. A DIGRESSION ON THE DEFINITION OF MONEY
Legal fictions and defective economic theory
Meanings and definitions
• Current issuing policy
Would cornpetition disrupt the system?
Four uses ofmoney
(ii) Holding reservesforfuture payments
XIII. WHICH VALUE OF MONEY?
IA stable value ofmoney'
Balancing errors
Criteria ofchoice
Effectivenessfor accounting again decisive
A note on (monetarism'
The historical evidence
'Neutral money' fictitious
Increased demandfor liquidity
XVI. FREE BANKING
• The problem ofa Idear' (stable) money
XVII. NO MORE GENERAL INFLATION OR
The problem ofrigid prices and wages
No more balance-oj-payment problems
The addictive drug ofcheap monry
The abolition ofcentral banks
No fixing of rates ofinterest
OF EXCHANGE
Better even than gold-the 'wobbly anchor'
Governrnent monopoly ofmoney unnecessary
xx. SHOULD THERE BE SEPARATE CURRENCY AREAS?
National currencies not inevitable or desirable
Government money and unbalanced budgets
XXII. PROBLEMS OF TRANSITION
Introduce new currencies at once, not gradually
Commercial bank change in policy
XXIII. PROTECTION AGAINST THE STATE
XXIV. THE LONG-RUN PROSPECTS
New legalframework for banking
Gold standard not the solution
Is competitive paper currency practicable?
'Free Money Movement'
QUESTIONS FOR DISCUSSION
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Den at Ion Ali Sat Ion

Den at Ion Ali Sat Ion

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Published by: Spacevideo Correggio on Mar 28, 2012
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03/28/2012

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