Cryptocurrencies from an Austrian perspective
This chapter sets out a proposal for fundamental reform of monetary arrangements, using the technology of cryptocurrencies to move all bank and fiat money off balance sheet onto a single state sponsored mutual distributed ledger. This helps achieve monetary outcomes desired by the Austrian school of economics: allowing an almost complete withdrawal of the state from the provision of money and credit and reducing the need for bank regulation, lender of last resort and bank bail-out.
History
School
- Business and Economics
Department
- Business
Published in
Banking and Monetary Policy from the Perspective of Austrian EconomicsPages
223 - 257Citation
MILNE, A., 2018. Cryptocurrencies from an Austrian perspective. IN: Godart-van der Kroon, A. and Vonlanthen, P. (eds.) Banking and Monetary Policy from the Perspective of Austrian Economics. New York: Springer, pp. 223 - 257.Publisher
© SpringerVersion
- AM (Accepted Manuscript)
Publisher statement
This book chapter was published in the book Banking and Monetary Policy from the Perspective of Austrian Economics [© Springer International Publishing AG, part of Springer Nature]. The definitive published version is available at: https://doi.org/10.1007/978-3-319-75817-6_12.Publication date
2018-07-24ISBN
3319758179;9783319758176Publisher version
Language
- en
