Monetary Nationalism and International Stability

Friedrich A. Hayek

In five lectures delivered in 1937, Kayek “extended Mises’ monetary theory to provide a groundbreaking analysis of the international operation of the pure gold standard… the first comprehensive case against so-called freely fluctuating exchange rates.”

Monetary Nationalism and International Stability by F. A. Hayek

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F A Hayek
Friedrich A. Hayek

F. A. Hayek (1899–1992) is undoubtedly the most eminent of the modern Austrian economists, and a founding board member of the Mises Institute. Student of Friedrich von Wieser, protégé and colleague of Ludwig von Mises, and foremost representative of an outstanding generation of Austrian School theorists, Hayek was more successful than anyone else in spreading Austrian ideas throughout the English-speaking world. He shared the 1974 Nobel Prize in Economics with ideological rival Gunnar Myrdal ”for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena.”  Among mainstream economists, he is mainly known for his popular The Road to Serfdom  (1944).

Mises Daily Friedrich A. Hayek
When one studies the history of money, one cannot help wondering why people should have put up for so long with governments exercising an exclusive power over 2,000 years that was regularly used to...
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References

 Fairfield, NJ: Augustus M. Kelley, 1989.