Good Money, Part II: The Standard

by F. A. Hayek, Stephen Kresge

Overview

This complementary volume provides five additional essays to expand our understanding of Hayek’s ideas about money and monetary policy. Good Money, Part II: The Standard investigates the consequences of the “predicament of composition” which led to one of Hayek’s most controversial proposals: that governments should be denied a monopoly on the coining of money.

F. A. Hayek (1899–1992), recipient of the Medal of Freedom in 1991 and co-winner of the Nobel Memorial Prize in Economic Sciences in 1974, was a pioneer in monetary theory and one of the principal proponents of classical liberal thought in the twentieth century. He taught at the London School of Economics, the Universityof Chicago, and the Universityof Freiburg.

Product Details

ISBN-13:	9780865977464
Publisher:	Liberty Fund, Incorporated
Publication date:	04/22/2009
Series:	The Collected Works of F. A. Hayek
Pages:	270
Sales rank:	727,179
Product dimensions:	6.00(w) x 9.00(h) x 0.70(d)
Age Range:	18 Years

Table of Contents

Editorial Foreword ix

Introduction 1

One
A Survey of Recent American Writing:  Stabilization Problems in Gold Exchange Standard Countries 39
Addendum:  Exchange Rate Stabilization or Price Stabilization? 67

Two
Monetary Policy in the United States after the Recovery from the Crisis of 1920 71

Three
The Fate of the Gold Standard 153

Four
The Gold Problem 169

Five
Intertemporal Price Equilibrium and Movements in the Value of Money 186

Six
On 'Neutral' Money 228

Seven
Price Expectations, Monetary Disturbances, and Malinvestments 232

Afterword 245

Name Index 253

Subject Index 257

Editorial Reviews

The five essays in this second part conclude the collection of Austrian-born economist Hayek's (1899-1992) writings on money and monetary theory. They consider monetary nationalism and international stability, a commodity reserve currency, choice in currency, the theory and practice of concurrent currencies, toward a free market monetary system, and the future unit of value. This and the first part were published as volumes five and six of his collected work, published by University of Chicago Press and now being reprinted in paper. Good Money seems to have been published by The Institute of Economic Affairs, London, originally in 1976 and in a revised edition in 1978.
 
Reference & Research Book News
November 2009

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