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Exposing the State Concept of Money

In: A Guide to Good Money

Author

Listed:
  • Brendan Brown

    (Hudson Institute)

  • Robert Pringle

    (Central Banking Publications)

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.

Suggested Citation

  • Brendan Brown & Robert Pringle, 2022. "Exposing the State Concept of Money," Springer Books, in: A Guide to Good Money, chapter 0, pages 101-114, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-06041-0_7
    DOI: 10.1007/978-3-031-06041-0_7
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