Denationalisation of Money: The Argument Refined

The government monopoly of money must be abolished to stop the recurring bouts of acute inflation and deflation that have become accentuated during the last 60 years. Abolition is also the cure for the more deep-seated disease of the recurring waves of depression and unemployment attributed to ‘capitalism’. The monopoly of money by government has relieved it of the need to keep its expenditure within its revenue and has thus precipitated the spectacular increase in government expenditure over the last 30 years. This proposal is not a minor technicality of finance but a crucial reform that may decide the fate of free civilisation.