Good Money, Part I: The New World

Hayek’s deep interest in the concept of money and its role within the economy is developed in Good Money, Part I. Consisting of seven of Hayek’s most significant monetary writings from the 1920s, this collection focuses on his critique of the idea that price stabilization is consistent with the stabilization of foreign exchange.

F. A. Hayek (1899–1992), recipient of the Medal of Freedom in 1991 and co-winner of the Nobel Memorial Prize in Economic Sciences in 1974, was a pioneer in monetary...