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In Defense of Counterfeiting Illegitimate Money

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  • Walter E. Block

Abstract

Counterfeiting legitimate money is, and ought to be, a crime, not only under the libertarian law code but under the rules and regulations of all civilized orders. But what about counterfeiting money that is per se illegitimate; that is, is itself counterfeit? Is that a licit human action? The present article argues, somewhat paradoxically, that it is. It offers a counterpart to two authors—Murphy (2006) and Machaj (2007)—who take the opposite point of view.

Suggested Citation

  • Walter E. Block, 2010. "In Defense of Counterfeiting Illegitimate Money," American Journal of Economics and Sociology, Wiley Blackwell, vol. 69(2), pages 867-880, April.
    • Handle: RePEc:bla:ajecsc:v:69:y:2010:i:2:p:867-880
    DOI: 10.1111/j.1536-7150.2010.00716.x
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    References listed on IDEAS

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    1. Walter Block, 2004. "Libertarianism, positive obligations and property abandonment: children's rights," International Journal of Social Economics, Emerald Group Publishing, vol. 31(3), pages 275-286, March.
    2. Wagner, Richard E, 1996. "Who Owes What, and to Whom? Public Debt, Ricardian Equivalence, and Governmental Form," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 9(2), pages 129-142.
    3. Mateusz Machaj, 2007. "Against Both Private and Public Counterfeiting," American Journal of Economics and Sociology, Wiley Blackwell, vol. 66(5), pages 977-984, November.
    4. Block, Walter & Garschina, Kenneth M, 1996. "Hayek, Business Cycles and Fractional Reserve Banking: Continuing the De-homogenization Process," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 9(1), pages 77-94.
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