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This complementary volume provides five additional essays to expand our understanding of Hayek's ideas about money and monetary policy. Good Money, Part II: The Standard investigates the consequences of the "predicament of composition" which led to one of Hayek's most controversial proposals: that governments should be denied a monopoly on the coining of money.
F. A. Hayek (18991992) was awarded the Nobel Memorial Prize in Economic Sciences in 1974 and the Medal of Freedom in 1991 and was one of the leading Austrian economists and political philosophers of the twentieth century.
Stephen Kresge was the General Editor of The Collected Works of F. A. Hayek until his retirement in 2002.
Editorial Foreword ix
One A Survey of Recent American Writing: Stabilization Problems in Gold Exchange Standard Countries 39
Addendum: Exchange Rate Stabilization or Price Stabilization? 67
Two Monetary Policy in the United States after the Recovery from the Crisis of 1920 71
Three The Fate of the Gold Standard 153
Four The Gold Problem 169
Five Intertemporal Price Equilibrium and Movements in the Value of Money 186
Six On 'Neutral' Money 228
Seven Price Expectations, Monetary Disturbances, and Malinvestments 232
Name Index 253
Subject Index 257