Entnationalisierung des Geldes

The essay which gave this volume its name is the expanded version of a work which caused quite a sensation when it was published in English for the first time. F.A. von Hayek developed a theory that for political and economic reasons an accelerated inflation is inevitable if the monopoly control of the medium of exchange is not taken away from the government. Furthermore, this volume contains three papers which deal with gold standard and the reasons which led to its destruction. In another essay, Hayek describes the plan for a commodity reserve standard, which in his opinion would make it possible to avoid the flaws of the gold standard without relinquishing its advantages.