It's production and regulation, long been regarded as a prerogative of the state, continues to be so. But there is usually one important exception - money. Focusing on Bitcoin, Dowd demonst Advanced economies allow the market process to produce and distribute the majority of their goods and services. In this book, Kevin Dowd explores the way market processes, working in the emerging digital realm, are starting to provide competition to state money. This monopoly is now being strongly challenged. Outlining the regulatory and legal changes that will be necessary if beneficial innovation is to thrive, the work also discusses how developments in private money are part of a more general movement among people who wish to reduce the role of the state in their lives.moreĪdvanced economies allow the market process to produce and distribute the majority of their goods and services. Some of those challenges relate to the nature of the private monies themselves while other challenges come from law enforcement agencies that are determined to prevent competition with state money. Noting that competition in this field is welcome given the lamentable history of state money, which has seen its purchasing power shrink greatly over the years, this book also concludes that new monies face many challenges.
#New monies free#
This monograph, by one of the leading scholars in the field of private money and free banking, examines new innovations such as Bitcoin, the Liberty Dollar and e-gold.
This monograph, by one of the leading scholars in the field of private money and free banking, examines new innovations such as Bitcoin, the Liberty Dol New forms of private money regularly hit the newspaper headlines, however, there is relatively little discussion of whether such innovations will last the pace and perform effectively the functions that we expect of money. New forms of private money regularly hit the newspaper headlines, however, there is relatively little discussion of whether such innovations will last the pace and perform effectively the functions that we expect of money.
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