This was various in the theory of ‘cost-free banking’, which he regarded as legitimate only provided that industrial banking institutions will have to redeem in specie the notes they have issued with regard to a single national forex. Alternatively, Hayek much more radically recommended to abolish the national monopoly of https://bookmarktune.com/story16988345/the-smart-trick-of-evolution-of-money-that-no-one-is-discussing