Exposing the State Concept of Money

Brendan Brown () and Robert Pringle ()
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Brendan Brown: Hudson Institute
Robert Pringle: Central Banking Publications

Chapter Chapter 7 in A Guide to Good Money, 2022, pp 101-114 from Springer

Abstract: Abstract Running through monetary history and inescapably entwined in current debates are two great and incompatible concepts of money—the classical versus the state. In this chapter, the authors show how these concepts emerged, how they struggled for dominance and how the state school won. Today the state school sets the intellectual framework in which monetary affairs are discussed and monetary policy made. It makes the regime appear legitimate even natural. But that’s an illusion. The classical school has deeper insight into the nature and functioning of our money.

Date: 2022
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DOI: 10.1007/978-3-031-06041-0_7

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