Book: Money, Sound and Unsound
By: Joseph T. Salerno
This book might be considered an intermediate text on the topic. If you have read Menger, Rothbard, Mises, or Hayek on the topic of money and you want to know what is next, this is your answer. Joseph Salerno is the master of the subject, and he demonstrates absolute virtuosity in these pages.
Salerno’s yardstick concerns the soundness of money. He is speaking of a subject too rarely raised: the quality of the money itself. Money originated as a commodity out of market exchange. The further the government and central bank drive money from its original soundness, toward a paper money and finally toward digits that government can manufacture out of nothing, the less sound the money becomes, and the more instability, inflation, false signalling, and economic chaos that results.
As he makes clear, money is either absolutely sound (meaning, part of the market order) or it is headed on that slide toward destruction. In the final commentary section, Salerno directly addresses modern monetary madness and speculates on the future.
Money: Sound and Unsound is an indispensable collection of 26 essays on that subject, written over the years by a brilliant American economist of the Austrian school, Joseph Salerno. In defending gold as the alternative to the government's fiat money, Salerno effectively takes on all comers, including Milton Friedman.
Swap your cryptos here:
Nosa Capital concentrates its' expertise in Strategy, Business Development, Project Management, Project Finance, Trending, and now cryptocurrencies