Commodity Standard or Monetary Rule? |
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| Authors: | George S Tavlas |
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| Institution: | George S. Tavles is an economist at the International Monetary Fund. He was previously with the US Department of State and the Organisation for Economic Co-operation and Development. He is author of numerous articles on monetary economics, economietric modelling, and the history of economic doctrune |
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| Abstract: | Professor F.A. Hayek's proposal for privately-issued monies based on baskets of commodities (Economic Affairs, Volume 6, Number 4, April/May 1986) is the most recent version of a policy proposed, and criticised, in various forms over the last two centuries. Do suggestions for market monies neglect considerations of practicability and equity? George S. Tavlas. economist at the international Monetary Fund, examines two centuries of economic theory to present objections the advocates of private money have yet to overcome. |
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