Series IV · Card 9 of 21 · THE VIENNA SEMINAR
I do not think it an exaggeration to say that history is largely a history of inflation, and usually of inflations engineered by governments and for the gain of governments …
FRIEDRICH A. HAYEK · DENATIONALISATION OF MONEY · 1976
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Source
“Denationalisation of Money”, IEA 1976 (3rd ed. 1990), ch. IV “The Persistent Abuse of the Government Prerogative”, p. 34
About the author
Austrian-British economist and philosopher (1899–1992), Nobel laureate in economics 1974, whose work on competition in money and limits on state control made him one of Bitcoin’s clearest intellectual forerunners.
The question on the back
Do you know who wins when your money loses value?