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JEL Code

B53, E42, E58

Abstract

Throughout his life, Friedrich Hayek worked towards prescribing a monetary policy under which the world economy would again enjoy the stability it had known under the classical international gold standard system. This paper presents three banking and monetary systems that were pivotal in the history of banking and closely scrutinized by Hayek. The paper outlines those systems, summarizes Hayek’s comments on each and then discusses the recent literature on the subject in the light of Hayek’s influence.

Submission Date

October 2020

Approval Date

9-1-2020

Publication Date

9-15-2020

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