Denationalisation of Money: The Argument Refined

FRIEDRICH AUGUST HAYEK, Dr Jur, Dr Sc Pol (Vienna), DSc (Econ.) (London), Visiting Professor at the University of Salzburg, Austria, 1970-74. Director of the Austrian Institute for Economic Research, 1927-31, and Lecturer in Economics at the University of Vienna, 1929-31. Tooke Professor of Economic Science and Statistics, University of London, 1931-50. Professor of Social and Moral Science, University of Chicago, 1950-62. Professor of Economics, University of Freiburg i.Brg., West Germany, 1962-68. He was awarded the Alfred Nobel Memorial Prize in Economic Sciences in 1974. Created Companion of Honour in 1984.

Professor Hayek’s most important publications include Prices and Production (1931), Monetary Theory and the Trade Cycle (1933), The Pure Theory of Capital (1941), The Road to Serfdom (1944), Individualism and Economic Order (1948), The Counter-Revolution of Science (1952), and The Constitution of Liberty (1960). His latest works are a collection of his writings under the title Studies in Philosophy, Politics and Economics (1967) and Law, Legislation and Liberty (Vol. I: Rules and Order, 1973; Vol. II: The Mirage of Social Justice, 1976; Vol. Ill: The Political Order of a Free People, 1979); New Studies in Philosophy, Politics, Economics and the History of Ideas (1978); and The Fatal Conceit (1988). He has also edited several books and has published articles in the Economic Journal, Economica and other journals.

The IEA has published his The Confusion of Language in Political Thought (Occasional Paper 20, 1968), his Wincott Memorial Lecture, Economic Freedom and Representative Government (Occasional Paper 39, 1973), a collection of his writings with a new essay (assembled by Sudha Shenoy), A Tiger by the Tail (Hobart Paperback 4, 1972, Second Edition, 1978), an essay in Verdict on Rent Control (IEA Readings No. 7, 1972), Full Employment at Any Price? (Occasional Paper 45, 1975), and Choice in Currency: A Way to Stop Inflation (Occasional Paper 48, 1976).