Ethics of money production
14.99 €
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Ethics of money production
14.99 €
In his pioneering work, first published in 2013, Jörg-Guido Hülsmann, Professor of Economics at the University of Angers (France), explores for the first time a topic of fundamental importance to modern economic life: the ethics of money production.
The author uses the term “money production” not in the sense in which we understand the words “making money” in everyday speech, but in its direct meaning: the production of money as one of the commodities circulating in a market economy. The author describes in detail the evolution of money production, from natural metallic money to modern international (paper money) standards, as well as economic ideas about money from antiquity and the Middle Ages to the present day.
The author’s main thesis is that the monopoly production of money by the state is not justified by either ethical or utilitarian arguments, and that money should be produced privately, like any other market commodity. The costs associated with the production of money on the free market are in fact its advantage. Calculations on “monetary stabilization” with the help of state policy measures are futile, since monopolistic production of money creates an unavoidable risk of unfair behavior on the part of banks and other participants in the financial sector.
The transition to natural production of money, i.e. private production on the free market, can be realized at any time if there is the corresponding political will in society.
The author uses the term “money production” not in the sense in which we understand the words “making money” in everyday speech, but in its direct meaning: the production of money as one of the commodities circulating in a market economy. The author describes in detail the evolution of money production, from natural metallic money to modern international (paper money) standards, as well as economic ideas about money from antiquity and the Middle Ages to the present day.
The author’s main thesis is that the monopoly production of money by the state is not justified by either ethical or utilitarian arguments, and that money should be produced privately, like any other market commodity. The costs associated with the production of money on the free market are in fact its advantage. Calculations on “monetary stabilization” with the help of state policy measures are futile, since monopolistic production of money creates an unavoidable risk of unfair behavior on the part of banks and other participants in the financial sector.
The transition to natural production of money, i.e. private production on the free market, can be realized at any time if there is the corresponding political will in society.
See also:
- All books by the publisher
- All books by the author