Subject Index
A | B | C | D | E
F | G | H | I | J
K | L | M | N | O
P | Q | R | S | T
U | V | W
A
acquisitive capital, 38–40
A Free-Market Monetary System
A FREE-MARKET MONETARY SYSTEM
Title Page
A FREE-MARKET MONETARY SYSTEM
FRIEDRICH A. HAYEK
Copyright Page
Copyright © 2008 Ludwig von Mises Institute
Permission was granted by the Nobel Foundation to reproduce the “The Pretence of Knowledge.”
Copyright © 1974 The Nobel Foundation
Ludwig von Mises Institute
518 West Magnolia Avenue
Auburn, Alabama 36832 U.S.A.
www.mises.org
ISBN: 978-1-933550-37-4
A claim for equality of material position can be met only by a government with totalitarian powers.
F.A. Hayek
1. A Free-Market Monetary System
When a little over two years ago, at the second Lausanne Conference of this group, I threw out, almost as a sort of bitter joke, that there was no hope of ever again having decent money, unless we took from government the monopoly of issuing money and handed it over to private industry, I took it only half seriously. But the suggestion proved extraordinarily fertile. Following it up I discovered that I had opened a possibility which in two thousand years no single economist had ever studied.
2. The Pretense of Knowledge
The particular occasion of this lecture, combined with the chief practical problem which economists have to face today, have made the choice of its topic almost inevitable. On the one hand the still recent establishment of the Nobel Memorial Prize in Economic Science marks a significant step in the process by which, in the opinion of the general public, economics has been conceded some of the dignity and prestige of the physical sciences.
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