Cloth $60.00 ISBN: 9780226320977 Published June 1999 Not for sale in Europe, Japan, or the British Commonwealth except Canada
E-book $7.00 to $48.00 About E-books ISBN: 9780226321196 Published September 2012 Not for sale in Europe, Japan, or the British Commonwealth except Canada

Good Money, Part 2

The Standard

F. A. Hayek

F. A. Hayek

Edited by Stephen Kresge
270 pages | 2 line drawings, 2 tables | 6 x 9 | © 1999
Cloth $60.00 ISBN: 9780226320977 Published June 1999 Not for sale in Europe, Japan, or the British Commonwealth except Canada
E-book $7.00 to $48.00 About E-books ISBN: 9780226321196 Published September 2012 Not for sale in Europe, Japan, or the British Commonwealth except Canada
The two volumes of Good Money concentrate on Hayek's work on money and monetary policy. Published in the centenary of his birth, these volumes bring forth some of the economist's most distinguished articles on monetary policy and offer another vital addition to the collection of Hayek's life work.

Good Money, Part I: The New World includes seven of Hayek's articles from the 1920s that were written largely in reaction to the work of Irving Fisher and W. C. Mitchell. Hayek encountered Fisher's work on the quantity theory of money and Mitchell's studies on business cycles during a U.S. visit in 1923-24. These articles attack the idea that price stabilization was consistent with the stabilization of foreign exchange and foreshadow Hayek's general critique that the whole of an economy is not simply the sum of its parts.

Good Money, Part II: The Standard offers five more of Hayek's articles that advance his ideas about money. In these essays, Hayek investigates the consequences of the "predicament of composition." This principle works on the premise that the entire society cannot simultaneously increase liquidity by selling property or services for cash. This analysis led Hayek to make what was perhaps his most controversial proposal: that governments should be denied a monopoly on the coining of money.

Taken together, these volumes present a comprehensive chronicle of Hayek's writings on monetary policy and offer readers an invaluable reference to some of his most profound thoughts about money.

"Each new addition to The Collected Works of F. A. Hayek, the University of Chicago's painstaking series of reissues and collections, is a gem."— Liberty on Volume IX of The Collected Works of F. A. Hayek

"Intellectually [Hayek] towers like a giant oak in a forest of saplings."—Chicago Tribune

"One of the great thinkers of our age who . . . revolutionized the world's intellectual and political life."—Former President George Herbert Walker Bush
Contents
Editorial Foreword
Introduction
1. Monetary Nationalism and International Stability
Addendum: Correspondence between Hayek and John Hicks
2. A Commodity Reserve Currency
3. Choice in Currency
Addendum: The Age-Old Superstition
4. The Denationalization of Money: An Analysis of the Theory and Practice of Concurrent Currencies
5. Toward a Free Market Monetary System
6. The Future Unit of Value
Name Index
Subject Index
For more information, or to order this book, please visit http://www.press.uchicago.edu
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