Monopoly and Competition in Money

The inflation which seems to have become endemic to much of the world, along with the perception that the prime culprits are the monopolistic issuers of national currencies, has recently led to a novel and striking proposal known as ''currency substitution." The proposal is all the more striking because it bears two of the earmarks of intellectual revolution: simultaneous discovery and similar analytic results.

Volume 4, Number 1 (1980)