James Leroy Wilson's blog

Saturday, July 23, 2011

The Separation of Money and State

Check out my latest at the Downsize DC Foundation. Excerpt:

Interestingly, Hayek was skeptical that gold would prevail as the standard form of money in a free-market system. Until the 20th century, gold was the preferred form of money of rulers, and brilliant free-market economists such as Hayek's mentor Ludwig von Mises assumed a gold standard as a matter of course.

But is what the rulers want necessarily what the public would prefer?

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