Book: Understanding The Dollar Crisis
Author: Percy L. Greaves, Jr
In the year that President Nixon closed the gold window forever and the US government removed the last vestiges of the gold standard, nonstop dollar turmoil was unleashed. In that same year, Percy L. Greaves, a student of Ludwig von Mises's, released a blockbuster of a book that sought to explain the crisis. It was a huge seller and taught a generation to think like Austrian economists, who, after all, were the only ones offering a coherent explanation of events.
Percy Greaves's widow, Bettina Bien Greaves, gave her permission for a republication of this book, on the occasion of the current dollar crisis. What's remarkable is how Percy's analysis holds up in nearly every way, after all these years.
He begins by clarifying that in order to understand the dollar crisis, one must understand much more: What is economics? What is the difference between price and value? What is money, and how did it originate? How and why did the gold standard come about? What are the causes of the business cycle? And much more.
What he did was produce an excellent primer on monetary economics that still retains its value.
Ludwig von Mises himself wrote the foreword to the book: "These seven lectures are not merely a substitute for a textbook on economics. They are much more. They are an attempt to analyze and to explain the meaning and the effects of the various systems, methods, and measures of economic policies."
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From the makers of the much-praised Quants: the Alchemists of Wall Street and Money & Speed: Inside the Black Box. Now the long-awaited final episode of a trilogy in search of the winners and losers of the tech revolution on Wall Street. Could mankind lose control of this increasingly complex system?
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This book is a news-breaking account of the global stock market's subterranean battles, Dark Pools portrays the rise of the "bots"- artificially intelligent systems that execute trades in milliseconds and use the cover of darkness to out-maneuver the humans who've created them.
Denationalisation of Money: The Argument Refined. An Analysis of the Theory and Practice of Concurrent Currencies.
By Friedrich A. Hayek
What if the government let anyone use a currency of his or her choosing? What if the government permitted entrepreneurs to innovate in the monetary sector, such as by creating digital currencies or minting commodity money?
This is precisely what F.A. Hayek argues.
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.
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