Iilike's Proposal for the Denationalization of Money

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In a speech in 19 81, he describes his proposal for the de nationalization of money as hopelessly utopian. He's perfectly aware that this will never be politically in fact. So what he does instead is to up date his idea of competing currencies by adapting it to that rapidly changing reality. The state can't control what exactly a bank does in the kind of accounts that it operates but banks are able to essentially create credit and benefit from privatized public prerogative.

Episode two of our two-part series on cryptocurrency: political theorist Stefan Eich on how crypto fits into Hayek's old neoliberal dream of private money and why that vision emerged in a new form in the wake of the 2008 financial crisis. Read Stefan's article: static1.squarespace.com/static/5ae8a7b625bf02c0b85aec02/t/5c923c13eef1a1ce843836ff/1553087508427/Stefan+Eich%2C+Old+Utopias%2C+New+Tax+Havens+%282019%29.pdf Support The Dig at Patreon.com/TheDig Check out We're Not Here to Entertain: Punk Rock, Ronald Reagan, and the Real Culture War of 1980s America by Kevin Mattson global.oup.com/academic/product/were-not-here-to-entertain-9780190908232