Friedrich Hayek on Monetary and Banking Systems Reform
15 Pages Posted: 11 Mar 2013
Date Written: January 13, 2013
Throughout his life, Friedrich Hayek worked towards prescribing a monetary policy under which the world economy would again enjoy the stability it had known under the classical international gold standard system. This paper outlines three banking and monetary systems that were pivotal in the history of banking and closely scrutinized by Hayek. This paper outlines those systems, summarizes Hayek’s comments on each and then discusses the recent literature on the subject in light of Hayek’s influence.
Keywords: Friedrich Hayek, Monetary Policy, Gold Standard, Monetary Reform
JEL Classification: B53, E42, E58
Suggested Citation: Suggested Citation