Libertarian Views on Money
Its Creation and Control
Is government control of money compatible with freedom of the individual?
A collection of links to sources of information on libertarianism and money,
banking and finance covering the economics, politics and philosophy of power over
money creation.
- The Libertarian Alliance
- Among its publications are some on money, a few of which are listed below.
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- The Micropolitics of
Free Market Money a proposal by Antoine Clarke
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- Currency
Competition some options considered by Antoine Clarke
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- The Uses and
Abuses of Money by Nick Elliott Politicians have often laboured under the
delusion that money is something created and manipulable by themselves, when in
fact it is the spontaneous institution of a free society and will continue to
evolve in ways outside their grasp.
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- Adam Smith
on Money, Banking and Macroeconomic Order
- By Andrew Farrant, Libertarian Heritage No. 16. (A paper published by the
Libertarian Alliance).
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- FAME: The Foundation for the Advancement of
Monetary Education
- The goal of FAME's web site is to become the principal source of intellectual
ammunition in support of "honest money."
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International Society for Individual Liberty
- The literature section of the ISIL website has a number of articles on economic issues.
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- The Economic Means to
Freedom
- A series of essays by Frederick Mann. It was one of a number of resources on
libertarianism at the BuildFreedom.com
website.
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- Ayn Rand on Money
- An extended quotation from page 387 of Atlas Shrugged by Ayn Rand, the American philosopher. Although she was a laissez-faire capitalist she did not like being associated with libertarianism and was actually very critical of that philosophy. However, because libertarians often cite her writings in support of their own views this link is included her.
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- Monetary and Banking
Policy by the Cato Institute
- The Institute's aims are the promotion of public policy based on individual
liberty, limited government, free markets, and peace. Many publications on money
are available from its web server.
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- Digital Cash and
Monetary Freedom by Jon W. Matonis
- Matonis advocates a privately-managed digital cash system. The Internet is a
new world and a new world demands a new currency - a new standard of value. This
standard should be dictated by the market.
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Money
Without Government and Banks by Michael E. Marotta.
- Private money has a long history which actually preceded coins from
kings. Call them tokens, good-fors, wooden nickels, chits, scrip, they
have carried trade and commerce time and again. And they are working now.
Originally published in Practical Anarchy, November 1993. Revised version
published in Numismatica, 21 June 1994.
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- The MillenniumDollar
- This is a private currency designed to be self-adjusting for inflation
and deflation. Its value is indexed using an inflation index for the US
dollar. Among the features of the website are an extensive FAQ and an article
entitled
a brief description of the private currency which, despite the modest
title, contains quite an informative account of the ideas behind the
MillenniumDollar.
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- The Adventures of Jonathan
Gullible: a Free Market Odyssey
- A book by Ken Schoolland using fiction as a means of explaining basic
free market ideas. The book has been endorsed by Milton Freedman.
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- From
legal tender to virtual vouchers
- Gian Piero de Bellis presents an outline of aspects of the history of
money and its future based on a libertarian perspective.
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- The Future of
Money edited by Robert Knautz. Articles from Policy Spotlight vol. 1 no.
1, September-October 1997.
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- Alternative Ökonomie?!
- The material on this site is in German - there are hyperlinks to English
language texts/sites.
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- Democracy and
Government Control of the Money Supply
- When coins were the predominant form of payment governments controlled minting.
The development of modern banking and paper money broke the government monopoly of
money creation and fostered the growth of democracy. Although not written from an
explicitly libertarian perspective this essay, based on A History of Money from Ancient
Times to the Present Day by Glyn Davies is on a theme
of interest to libertarians.
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Roy Davies - Last updated 29 February 2008.