Private Money and Counterfeiting

  title={Private Money and Counterfeiting},
  author={Stephen D. Williamson},
P erhaps the most fundamental question in monetary economics pertains to the role of the government in providing money. A widely held view among economists is that the supply of media of exchange is an activity that should not be left to the private sector. Indeed, even Milton Friedman, who in most respects has viewed the economic role of the government quite narrowly, argues in Friedman (1960) that the provision of money is fraught with peculiar market failures and that the government should… CONTINUE READING

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