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Podcast: Thorsten Polleit
Episode: HAYEK’S ‚DENATIONALISATION OF MONEY‘. SOME CRITICAL REMARKS
Description: In a nutshell, Hayek, in his “Denationalization Of Money”, calls for putting an end to the state’s (or the government’s) monopoly of money production, replacing it by a free market in money.
At first glance, this seems to be a rather radical proposal. At a second glance, however, we will recognize that there is actually strong economic and ethical support for Hayek’s idea. Among mainstream economists, Hayek’s idea had remained a sideshow for many years.
This might be, and in no small part, due to some inconsistencies in Hayek’s line of argumentation. In fact, Hayek’s proposal for d...