What if you could place your own private currrency and use it?
E xperiment of economic theory in real life. Friedrich Von Hayek , winner of the Nobel Prize in Economics in 1974, pointed out that the monopoly of the States to issue currency translates into damages for the people. According to his theory, the centralized committees that manage the currencies do not have all the necessary information and will end up, despite their good intentions, making wrong decisions. In a book nearly forgotten so far, ' The Denationalization of Money ' he proposes that private entities can place their respective currencies and these compete against each other as any product. In the absence of this monopoly of the state, the parties to a contract could agree monetary assets that they consider preferable to safeguard their interests. His idea received harsh criticism both from the defenders of state intervention (with Keynes as one of its main critics) and from the liberals ( Milton Friedman found serious deficiencies in the idea). His thou...
