By
special arrangement with the Institute for Economic Affairs, the
Mises Institute is pleased to offer a new printing of F.A. Hayek’s
most radical case for the complete privatization of money: The
Denationalisation of Money. He wrote this near the end of
his career, after thinking through all the economic arguments for
monetary reform and examining the political viability of various
proposals. He shows the essential unviability of government money,
and calls for a complete free market in the production and distribution
and management of money.

This book is
the very core of the Hayekian approach to monetary policy, and the
book that drew the world’s attention to this radical thinker following
his Nobel Prize in economics. The argument is substantively similar
to Mises’s but rather than a gold standard, Hayek argues for completely
abandoning government attempts to reform money. The result would
be competitive private currencies that permits the market alone
to choose the dominant currency the world over.

In the digital
age, his argument takes on new significance, as experimentation
in digital currencies continues apace.