Reading time: 3 – 4 minutes
BOOK REVIEW: WHAT HAS GOVERNMENT DONE TO OUR MONEY
On 25 June 2009 I was invited to the Cafe Libertalia to speak at a book club where I was given the latitude to choose the book for discussion. I picked What Has Government Done To Our Money And The Case For A 100% Gold Dollar by Murray Rothbard. This book is an easy to read foundation for the student of the Austrian school of economics. Therefore, I think everyone should get and read a copy.
What Has Government Done To Our Money is 119 pages while The Case For A 100% Gold Dollar is 61 pages. It is printed on archival quality acid-free paper and has a sleek cover. This book makes a great addition to any library.
WHAT HAS GOVERNMENT DONE TO OUR MONEY
This is a well done objective monetary history. It discusses how money developed, the rise of fractional reserve banking and the constant meddling by government in money and currency. A key reason governments meddle in the money and currency markets is because it is a source of funding.
The reader learns some some basics of history, government and economics such as the development of monetary names, benefits of money, a short discussion on legal tender application and an entire part on The Monetary Breakdown of the West.
THE CASE FOR A 100% GOLD DOLLAR
This is a persuasive essay on why a 100% gold Dollar should be adopted. This essay originally appeared in the out of print and hard to find In Search Of A Monetary Constitution by Leland Yeager and published in 1962 by the Harvard University Press. While the arguments Rothbard makes are sound; I do not really agree because of advances in information technology and monetary evolution over the past 47 years.
Four and a half decades ago there was no Fandango, online checkin for airplane flights, etc. So likewise there have been advances made in monetary application and I am of the opinion that private digital commodity currencies, like GoldMoney, provide the most efficient solution to the monetary chaos the world has found itself in.
WHO THIS BOOK IS FOR
What Has Government Done To Our Money And The Case For A 100% Gold Dollar by Murray Rothbard is a quick and easy read divided into two main portions. I think the objective presentation of monetary history is a good read for anybody. The persuasive essay is a good read for anyone who wants to stimulate their analytical capacities; but keep in mind the essay is obsolete. Therefore, I think everyone should get and read a copy of this book.